Used to participateXinhua Department StoreCui Jun, a former private equity champion who has made a name for himself and has made a name for himself, has recently attracted market attention because of a news that has been “wanted all over the country”. The Treasure Silver Department controlled by Cui Jun has been competing with the WumartXinhua Department StoreThe controlling stake, but with the expansion of the two major shareholders of Cui Jun and Cheng Jian, the battle between the Baoyin and the Wumart is likely to end.
Shanghai Baoyin Chuangying Investment Management Co., Ltd. (hereinafter referred to as “Shanghai Baoyin”) announced on April 22 that Cui Jun, the company’s largest shareholder and legal representative, has been investigated by the public security organ for suspected duty embezzlement. It was wanted all over the country.
Cui Jun's daughter Cui Wenwen recently accepted an interview with the Securities Times·e company reporter and denied that Cui Jun was wanted all over the country. However, for Cui Jun's current situation, Cui Wenwen said “I don't know, there is no connection”. On the evening of May 14, Cheng Jian told reporters that "Cui Jun has been officially arrested. In order to avoid customer panic, we will announce it in a few days."
At present, Cui Jun and Cheng Jian are still continuing. The two sides refer to each other to seize the official seal and the shackles.Xinhua Department StoreThe situation of equity disputes tends to be clear,Xinhua Department StoreThe first major shareholder, the US Department of the United States, held the position. "We hope to use the capital market recovery to maintain communication with the Xinhua major shareholders and change from the original confrontation to collaboration." Cheng Jian told the Securities Times·e company reporter.
Cui Jun’s daughter denied her father’s wanted
"Cui Jun, the company's largest shareholder and legal representative, has been investigated by the public security organs for alleged misappropriation. Now it has been wanted by the whole country. Wang Min, the former executive, has also been expelled from the company." The announcement on the criminal offences of Cui Jun and other executives was stamped with the official seal of Shanghai Baoyin. On April 22nd, the date of filing the decision on the website was also announced on November 28, 2018. Public information shows that at the end of March this year, Cui Jun also accepted media interviews to talk about the stock market.
Another announcement on the resolution of the Shanghai Baoyin Shareholders' Meeting, which was released on March 15, showed that “the company was removed from the position of Jian Jian as a result of Cheng Jian’s robbing of the company’s property.” Cui Jun’s name was left on the shareholder’s signature column.
Earlier on January 3, the Shanghai Baoyin website issued a notice saying that “the company’s shareholder Cheng Jian established Shenzhen Qianhai Winning Fund Management Partnership (Limited Partnership) privately, and raised more than 80 million yuan of shareholders’ funds. Jianhua Shanghai Winhua Investment Management Co., Ltd., as an executive partner, suffered a fiasco investment and lost 95% of the 60 million funds of Shenzhen Qianhai Winning Shareholders."
After the disclosure of the decision letter of the Hongkou Branch of the Shanghai Public Security Bureau, Cheng Jian said that Cui Jun had misappropriated a total of 90 million yuan from Shanghai Baoyin's equity fund, and invested in the shell company Shanghai Zhaoying. Shanghai Zhaoying also went to the fund industry. The association applied for a fund license and issued a private equity fund and a placard of Shanghai Baoyin’s fund.Xinhua Department Store. In October last year, after investigators discovered a huge loss in the fund, they reviewed the relevant information of Cui Jun and went to the public security organs to report the case.
Cui Wenwen told the Securities Times·e company reporter: “Cheng Jian said that Zhaoying Company is a shell company that is completely inconsistent with the facts. According to the company law, the establishment of Shanghai Zhaoying Asset Management Co., Ltd. does not need to be recognized by Jianjian. The actions of Shanghai Zhaoying Asset Management Co., Ltd. to inject capital are also in line with the Contract Law and the Company Law. Cheng Jian said that it is illegal and has no basis."
Regarding the decision on the case, Cui Wenwen said, "The public security is only a stage of reconnaissance. Now the evidence is insufficient. Our company has sent a letter to the public security departments asking for the case to be revoked. Because the company must accuse Cui Jun of the occupation, the company’s statement has never been sued. Cui Jun, the controlling shareholder." When the reporter asked if Cui Jun had been wanted, Cui Wenwen replied: "No, it is impossible, there is no wanted order."
Cheng Jian told reporters: "Cui Jun has invaded the client's equity fund assets of 90 million, misappropriated the company's assets, and the public security department has filed a case. I am the company's second largest shareholder and the largest victim and responsible person."
Liu Ling, deputy director of the Criminal Law Law Committee of the Beijing Bar Association and lawyer of Beijing Tianchi Juntai Law Firm, told the reporter of the company e. "After the criminal suspect is detained or arrested, the investigating agency should notify him within 24 hours. Family members. Cheng Jian said that he was arrested, where the information came from, whether it was accurate, which needs to be verified, and the arrest of the words is not accurate. The mandatory measures include detention, detention or arrest, etc. What kind of enforcement measures are taken by the parties, It is a decision made by the case handling agency in accordance with legal procedures and notified to its family members."
On the evening of May 15, the reporter of e Company called the Economic Investigation Detachment of Hongkou District of Shanghai. The staff on duty said, “The specific case cannot be informed. If we take compulsory measures against him, according to the process, only the family members will be notified. As for whether the family members Will tell others that we have no control."
Infighting continues: refer to each other to grab the official seal
The same is the announcement of the official seal of Shanghai Baoyin Company, but it points to the “bad behavior” of the major shareholder and the second shareholder. In this regard, Wang Min’s statement is that Cheng Jian privately falsified the legal person’s signature, forged the winning investment official seal, legal person chapter, and financial special seal, and changed the background password of the company’s private equity fund in the China Foundation, in an attempt to defraud the official seal. Company property and fund property, and collusion with employees who have been fired to steal the company's website password and source code, and use the forged official seal to publish false announcements on the website.
Cheng Jianfa issued an application to the Securities Times·e reporter for assisting the company to recover the seal. In January this year, after the construction of the company’s information and the investigation, the founder found that the company’s official seal and other important items were missing, requesting Shanghai The city of Hongkou was assisted to recover. “Wang Min’s official seal was stolen by employees during the company’s handover. The police let Wang Min pass. Wang Min went to the Hongkou Jiaxing Road police station and reported that the case was stolen. We took Wang Min’s report materials and made a lost announcement. For all investment For the benefit of the people, for the smooth operation of the company, we re-apply for the legal filing of the public security system (public seal). Cheng Jian said.
At present, both Cui Wenwen and Cheng Jian both claim that the other party has seized the official seal and issued false information to sue the other party to the court.
Kaixinbao data shows that 40.95% of Shanghai Baoyin held by Chengjian, with a subscription amount of 120 million yuan, was frozen by the Xuhui District Court of Shanghai on May 14, 2018, with a term of three years. In addition, Shanghai Baoyin 1.4 million shares were frozen by the Shanghai Hongkou District People's Court on March 13 this year. On November 19, 2018, Shanghai Baoyin was listed as a breached trustee by the court.
In fact, Cui Jun, the largest shareholder of Shanghai Baoyin, and Cheng Jian, the second largest shareholder, have been fighting constantly.
According to Cheng Jian’s statement, “I have no contradiction with Cui Jun, but our values are different. All customers’ recruitment channels and brand packaging are the first ones I am responsible for, but since Cui Jun’s placard, he has been willing to go his own way and not to discuss with others. Do not use force, use short-term fund assets to placard, for personal face, and finally go to this step today."
Cui Wenwen told reporters: "At the beginning, Cui Jun didn't think about how to build a contract with Cheng Jian. He also regarded him as a brother. He felt that he was starting a business together. Since Cheng Jian invested, Cui Jun also helped him make money, and finally he died because of Cheng Jian. Huge debt, come back to grab the company."
Under the continuous struggle, the loss of Shanghai Baoyin Fund products is also serious. From the perspective of products with a deadline of this year, the highest value of the Buffett potential hedge funds 2, 5, 9, 17, 18, 19, 23 and the most Buffett potential pooled hedge fund 13 The deadline is March 29, 2019, but the cumulative losses are 79.84%, 86.58%, 91.64%, 88.21%, 87.31%, 88.32%, 66.86%, and 72.91%, respectively.
Field visit: office door lock
According to the industrial and commercial registration information, Shanghai Baoyin was established in October 2012. The company's shareholding structure is 50% for Cui Jun and 40% for Chengjian. Shihua Chuangying Investment Holdings Co., Ltd. and Shanghai Baoyin Investment Consulting Co., Ltd. Holding 10%. Shanghai Baoyin isXinhua Department StoreThe second largest shareholder, Cui Jun is the chairman and legal representative of Shanghai Baoyin.
What is the current operation of Shanghai Baoyin, which is in the middle of the whirlpool? Cui Wenwen replied to the Securities Times·e company reporter: It is still in normal operation and everything is fine. At the same time, Cui Wenwen said: "Our company's current focus is to accuse Cheng Jian of forging official seals and spreading rumors."
Cheng Jian told reporters: "The company is operating normally, customers are still visiting and communicating, and report to the fund industry association. Because Cui Jun and Wang Min caused the company to be arbitrated by customers for hundreds of arbitrations, it is already a believer."
According to the information of Shanghai Baoyin website, the company's address is located at No. 518, Guoan Road, Yangpu District, Shanghai. The reporter recently visited the office space of Shanghai Baoyin. The floor guide shows that Shanghai Baoyin is located at the center of the 6th floor. During office hours, other company employees on the same floor are working, and the door of Shanghai Baoyin has been locked.
Through the locked glass door, you can see the logo of “Shanghai Baoyin Chuangying Investment Management Co., Ltd.”, and only see a few desks and some debris in the room. “This company hasn’t felt right since last year. When there were no ones, there were papers that were moved out of the year, but who knows that they have moved.” A staff member of the same company working on the same floor Said.
In addition, the reporter learned from the property management office of the building that Shanghai Baoyin has rented a two-year office here and has not retired. "Their office looks very big, but there is nothing in it. Just a few tables, only three or five people came to work before, and few people came to see them after the year." Property staff told reporters that this time is often Some investors found Shanghai Baoyin Company and found no one. "There were investors who came to the door some years ago. We also warned the company when it was serious. Once the traffic was very loud, the police came over." The staff said.
Cui Jun: The former private equity champion
Cui Jun was born in 1970 with a bachelor's degree and is the chairman and legal representative of Shanghai Baoyin. According to the information of Tianyan, Cui Jun is also the chairman of Shanghai Zhaoying Equity Investment Fund Management Co., Ltd. and the chairman of Shanghai Baoyin Investment Consulting Co., Ltd. Shanghai Zhaoying was established in October 2014. Its major shareholder is natural person Zou Xiaoli, the wife of Cui Jun, holding 62.28%. The second largest shareholder is Baoyin Winning, holding 30% and the subscribed amount is 90 million. Wang Min holds 0.25%. Shanghai Baoyin Investment Consulting Co., Ltd. was established in 2007 and is wholly-owned by Zou Xiaoli. The amount of capital contributed is 300 million yuan.
According to the data, Cui Jun Securities has been in the business for 22 years and was the private equity champion of 2014. Its products won the market with a yield of more than 300%. In 2015, Cui Jun’s performance was also very bright, and it was against the market.
One of Cui Jun’s greatest impressions of the outside world is radicalism. Put the vast majority of Shanghai Baoyin funds into one stock, and increase the holding for 8 months.Xinhua Department StoreMore than 30% of the shares, this operation can be described as radical. Cui Jun also has a special feature, keen to name his own products with "Buffett", and has been trying to build the Chinese version of "Berke Hill Company." In the early years, when Cui Jun was hunting another listed company in Ningxia, he announced that he would build it into China's Berkshire Hathaway company, and let it create a myth that earns 30% a year. As a result, Cui Jun’s intention to enter the board of directors of the company failed to materialize.
With WumartXinhua Department StoreIn the dispute, Cui Jun also submitted several motions to require listed companies to set up "Birk Hill Holdings Limited" to invest in listed companies whose value is seriously undervalued, and to increase the assets of the holding company by raising the valuation of the invested company. Increased value. of course,Xinhua Department StoreAnd other shareholders rejected this request. In August 2015, Cui Jun was inXinhua Department StoreAn open letter from all shareholders declares that all shareholders are expected to support us in entering the board of directors.Xinhua Department StoreA great company with a future market value of 30,000 times in 50 years.
The language is not surprisingly endless. On the eve of the outbreak of Cheng Jian (the end of March this year), Cui Jun said in an interview with the media that the wave of the Shanghai Stock Exchange Index may break through 6124 points and hit 8000 points.
It is worth mentioning that Cui Wenwen told the Securities Times·e company reporter that Shanghai Zhaoying is about to go public in the US. “This listing plan is specifically considered by the management team. We believe that it will bring good to our equity funds. Income." Cui Wenwen said that the company has issued a notice related to the listing plan, Cui Wenwen's individualWeiboThis announcement was also forwarded. However, on May 15, the reporter noticed that Cui WenwenWeiboRelated to Shanghai Baoyin and Shanghai ZhaoyingWeiboThe content has been deleted.
Wumei DepartmentXinhua Department Store
The infighting of the two major shareholders of Shanghai BaoyinXinhua Department StoreThe situation of equity disputes tends to be clear, and Wumart has maintained its position.
On March 27th, Shanghai Baoyin also proposed to add a temporary proposal at the 2018 Annual General Meeting, recommending Zou Xiaoli, Cui Wenwen, Wang Min and others as candidates for new non-independent directors, and also proposed new candidates for independent directors and supervisors. Propose a profit distribution proposal.Xinhua Department StoreThe board of directors is not satisfied with the current term of office of the directors and supervisors, and the independent directors may not be dismissed without any reason. Regardless of the actual cash flow of the company, the implementation of huge cash dividends will cause the company to risk the break of the capital chain, and refuse to submit the proposal of Shanghai Baoyin. To the shareholders meeting.
Prior to this, Cui Jun also repeatedly asked for re-election of the board of directors, all of which failed, and it can be described as repeated defeats and repeated defeats.
For Shanghai Baoyin’s infighting,Xinhua Department StoreThe staff of the Securities Affairs Department told the Securities Times·e company reporter, “This is a matter within the shareholders, and we are not good at blending. We can only wait and see.” The person said that the two major shareholders had previously worked with the listed company. contact. but,Xinhua Department StoreThe Bao Yin Department of the Annual General Meeting held on April 23 did not participate. "After they have handled the internal affairs, it is the future to communicate with the company normally," the source said.
Xinhua Department StoreAccording to the quarterly report of 2019, Shanghai Zhaoying-the most Buffett potential 500 times fund 3 period hedge fund exited the top ten shareholders, and Shanghai Baoyin won the most Buffett potential hedge fund 3 and 16 shares held unchanged. At the time of the new proposal put forward by Shanghai Baoyin on March 27, its total shareholding ratio was 31.63%, which was 0.56% lower than that at the end of 2018. It can be seen that Shanghai Zhaoying-the most Buffett potential 500 times fund 3 phase has been reduced by at least 0.56% before March 27, and whether there is any subsequent reduction is not known.
Cui JunXinhua Department StoreThe hunting is long-lasting. On April 14, 2015, Shanghai Baoyin first placardXinhua Department StoreShanghai Baoyin's two hedge funds have a total shareholding of 5%. Since then, Cui Jun has increased his holdings. As of December 8, 2015, Shanghai Baoyin and its concerted actions have reached 32% of the shares, surpassing the Wumart system.Xinhua Department StoreThe largest shareholder.
Since then, Cui Jun and Wu Mei continue to fight. The shareholding ratio is very close for a long time and is in a stalemate. Cui Jun constantly tries to re-elect the board to controlXinhua Department StoreThe Wumei Department also urgently increased its holdings to strengthen its holding position.Xinhua Department StoreThe board of directors strongly resisted Cui Jun and repeatedly refused to submit his proposal to the shareholders meeting. In addition, the two sides also conducted a lawsuit war.
Until May 2018, the Supreme Court of Justice decided that Zhang Wenzhong, the real controller of the Wumei Group, was not guilty. Zhang Wenzhong is the founder and soul of the Department of Beauty, and he has been revived and uplifted. In September 2018, Wumei Group's “top grid” tender offer plan “landed”, the gap between the two parties increased to 7%, and the public shareholding ratio is close to the minimum requirements. Shanghai Baoyin has limited operating space.
After the outbreak of Shanghai Baoyin’s internal fighting,Xinhua Department StoreIn the equity dispute, Cui Jun may not be able to fight again.
(Article source: Securities Times)