Expelled from the party after more than two years of retirement

According to Liaoning Provincial Commission for Discipline InspectionAccording to the report, after investigation, Qi Yumin lost his ideals and beliefs. Ignore party discipline and state laws and oppose organizational censorshipViolating the spirit of the eight central regulations, accepting gift money that may affect the fair execution of official duties, arranging and using official vehicles in violation of regulations; violating the rules of procedure and violating regulations to determine major issues, concealing personal matters, and failing to truthfully explain the issues when organizing letter inquiries. Use power to seek benefits for others in the selection and appointment of cadres;Borrow money from management and service targets, run business in violation of regulations, get paid for part-time jobs in violation of regulations, and engage in money-and-color transactions; Dereliction of duty and responsibility for the false reporting of profit issues of Brilliance Group; dereliction of control and education of spouses and children; use of the convenience of the position to seek benefits for others and request and illegally accept property;Use the convenience of the position to embezzle public funds to others for profit-making activities; Abuse of power has caused serious losses to state-owned companies and caused heavy losses to national interests.

Qi Yumin seriously violated the party’s political discipline, organizational discipline, integrity discipline, work discipline, and life discipline, constituted a violation of the law and was suspected of crimes of bribery, embezzlement of public funds, and abuse of power by state-owned company personnel. They still do not converge or close their hands after the university, their nature is bad, and the circumstances are serious. They should be dealt with seriously. In accordance with the “Chinese Communist Party Disciplinary Sanctions Regulations”, “The Supervision Law of the People’s Republic of China”, “The Law of the People’s Republic of China on Governmental Sanctions of Public Officials” and other relevant regulations, the Provincial Disciplinary Committee Standing Committee meeting researched and reported to the Provincial Party Committee for approval, and decided to give Qi Yumin expelled from the party; Cancel the treatment they enjoy in accordance with the regulations; collect their income from violations of discipline and law; transfer their suspected crimes to the procuratorial organ for review and prosecution in accordance with the law, and transfer the property involved together.

On December 4 last year, the Central Commission for Discipline Inspection and the State Supervision Commission issued a notice stating that according to the Liaoning Provincial Commission for Discipline Inspection, the former party secretary and chairman of Brilliance Automobile Group Holdings Co., Ltd. (hereinafter referred to as “Brilliance Group”) Qi Yumin was suspected of serious violations of discipline and law. , Is currently undergoing disciplinary review and supervision and investigation.

According to the official resume, Qi Yumin was born in January 1959. After graduating from Shaanxi Institute of Mechanical Engineering in 1982, he joined Dalian Heavy Machinery Factory and served as deputy director and director of the Economic Planning Department. In 1995, he served as the deputy director of Dazhong Group Corporation. Manager, served as general manager of Dazhong Group Corporation in 1998.

In 2000, Qi Yumin served as chairman and general manager of Dalian Heavy Industry Group Co., Ltd., and the following year as chairman and general manager of Dalian Heavy Industry Lifting Group Co., Ltd. In 2004, Qi Yumin served as the deputy mayor of Dalian.

At the end of December 2005, Qi Yumin was transferred to Brilliance Group as the party secretary and chairman of the board. Many years later, Qi Yumin said frankly in an interview with the media, “It was sudden, very tragic, ignorant and helpless to get the transfer order.” It is reported that the Brilliance Group at the time was still in the aftershocks of the Yangrong incident. The middle-level lost dealers fled and suffered serious losses. Qi Yumin, who arrived at that time, was once regarded as the “fire-fighting captain.”

Qi Yumin (Image source: Visual China)

After that, Qi Yumin cashed out on the capital market through Brilliance’s capital operation team, realizing the supplement to Brilliance’s capital. According to the Securities Daily, Qi Yumin clearly stated in an exclusive interview at the company’s 10th anniversary meeting: “Brilliance Auto’s development over the years has mostly relied on its own financing. Therefore, the financing capabilities of the capital market and Brilliance’s capital The multi-channel financing of development by the market is the key support for the development of independent brands.”

Qi Yumin also allowed Brilliance to obtain technical support through cooperation with BMW.

The industry generally believes that in the ten years of cooperation with BMW, Brilliance can not only lie down and make money, but also actually taste the sweetness of “using the market for technology”.However, Brilliance, whose development capability is too weak, has been unable to digest BMW’s technology, and its sales in its independent sector have also been declining, and its market share has been shrinking..

According to the Beijing News, in 2015, Brilliance Zhonghua’s small SUV Zhonghua V3 was officially launched. At that time, Qi Yumin set a goal: China V3 will be a pattern changer in China’s small SUV market;He repeatedly stated, “Before I retire, I must make Brilliance into the Fortune 500.”However, China V3 did not realize Qi Yumin’s sustenance. In 2017 and 2018, the sales of China V3 declined year after year, with annual sales of 36,000 and 12,500, respectively, down 52% and 65.27% year-on-year..

Finally, on October 11, 2018, at the 15th anniversary celebration of BMW Brilliance, Brilliance Group and BMW Group jointly announced that Brilliance Group intends to sell 25% of the shares in BMW Brilliance to BMW Group by 2022, the transaction price is RMB 29 billion yuan,BMW Brilliance will become the first vehicle joint venture company controlled by a foreign party. This has caused Qi Yumin to suffer from public controversy.

Qi Yumin later revealed when he was a guest on CCTV that the prerequisite for BMW’s negotiations at the time was a 75% share ratio, and everything could be discussed, but the share ratio could not be discussed. As a result, Brilliance had to negotiate two agreements with the other party: First, to make the pie of the joint venture bigger, at least to double it, “otherwise it would be meaningless to liberalize the equity ratio.” In addition, the shareholders of both parties have to obtain greater economic benefits,”Three and a half years later, Brilliance has changed from 50 to 25, but the benefits of 25 must be greater than the current 50.”.

On April 1, 2019, when he retired from Brilliance Group, Qi Yumin said with emotion, “The past was cleared, love and hate are at will, I hope Brilliance will always be well”. But now, Qi Yumin and Brilliance are both running counter to the vision.

Brilliance Group went bankrupt and reorganized last year

According to the official website of Brilliance Group, the company has 4 listed companies (Brilliance China Automotive Holdings Co., Ltd., Shanghai Shenhua Holdings Co., Ltd., Jinbei Automobile Co., Ltd., and Xinchen China Power Holdings Co., Ltd.), and more than 160 wholly-owned, holding and shareholding companies the company. There are 47,000 employees,Total assets exceed 190 billion yuan.

Last year, Brilliance had many operating problems. Since July last year,Brilliance Group was caught in a debt turmoil, was exposed to 100 billion yuan in debt, and many equity shares were frozen. In August, Dagong International and Oriental Jincheng successively included Brilliance Group and its multiple bonds on the rating watch list. In September, both Orient Jincheng and Dagong International downgraded Brilliance Group’s main credit rating, among which Dongfang Jincheng downgraded to AA+ and Dagong International directly downgraded it to AA. On October 16, Oriental Jincheng once again downgraded Brilliance Group’s main credit rating to AA-. On October 21, Dagong International downgraded the main credit rating of Brilliance Group to A+.

On November 16 of that year, Brilliance Group disclosed thatThe company has constituted a total debt default amount of 6.5 billion yuan and overdue interest amount of 144 million yuan. Due to the shortage of corporate funds, the renewal credit approval has not been completed, resulting in failure to repay. Then on November 20, the Shenyang Intermediate People’s Court ruled to accept the creditor personality Zhizhi Automobile Technology Co., Ltd.’s application for reorganization of Brilliance Group.Brilliance Group officially entered the bankruptcy reorganization process.

The court’s ruling stated that the assets of Brilliance Group were insufficient to pay off all its debts, and that it had bankruptcy reasons stipulated in the Corporate Bankruptcy Law. But at the same time, the group has the value and possibility of salvation, and the necessity and feasibility of reorganization.

For driving to this position, according to the relevant person in charge of the Liaoning Provincial SASAC,Brilliance Group’s long-term poor operation and management, its own brands have been in a state of loss, and the debt ratio remains high. Since 2018, the Liaoning Provincial Government and relevant departments have been working hard to help Brilliance Group solve its cash flow problems, but its debt problems have been accumulated. This year, affected by the new crown pneumonia epidemic, the operating conditions of Brilliance Group’s own brands have further deteriorated, and long-term accumulated debt problems have erupted. According to the semi-annual report of Brilliance Group this year, the total liabilities at the group level are 52.376 billion yuan, the debt-to-asset ratio exceeds 110%, and the financing capacity is lost. In order to solve the debt problem, the relevant parties established the Brilliance Group Bank Debt Committee to seek debt reconciliation, but failed.

On the day that Brilliance Group officially entered the bankruptcy and reorganization process, the China Securities Regulatory Commission stated,Special inspections have been carried out on Brilliance Automobile Group in accordance with the law, the administrative supervision measures of issuing warning letters have been taken against Brilliance Group, and it has been decided to file an investigation for suspected violations of information disclosure., Conduct simultaneous inspections of intermediaries involved in the Brilliance Group’s bonds, and strictly investigate and deal with violations of laws and regulations.

Edit| Sun Zhicheng Xiao Yong

Proofreading| Lu Xiangyong

Daily Economic News Comprehensive public information, CCTV news, Beijing News, Securities Daily, etc.

“Investor Net” Jordan

On June 6th, on the black cat complaint, a large number of complaints against Yonghui Supermarket (601933.SH) online shopping platform Yonghui Life APP suddenly emerged, referring to the launch of Yonghui Life APP on June 5 The live broadcast activity of 10,000 people who purchase wine for 999 yuan and get 1499 yuan to purchase Feitian Moutai is suspected of “false propaganda” and “deceptive consumers”, and induce consumption through “false” Moutai purchase qualifications. According to the rough statistics of “Investor Net”, more than 240 people have complained about the live broadcast event. If the minimum consumption is 999 yuan, the amount involved in this part of the consumption is more than 240,000 yuan. This is the second time that Yonghui Supermarket has been criticized by consumers for Moutai related issues this year. In addition, Yonghui Supermarket has also frequently reported food quality problems recently, which has once again triggered a crisis of consumer trust.

The investors in Yonghui Supermarket were also stinged. As of the close on June 11, 2021, Yonghui Supermarket closed at 5.32 yuan per share, and its market value has fallen by more than 20 billion yuan from its highest point since the beginning of this year. In fact, including chairman Zhang Xuansong, Yonghui Supermarket has actively implemented practical actions such as increase in holdings and repurchase to maintain the stock price this year, but it does not seem to bring confidence to the market. “In the embarrassing situation, many investors rushed into the market to increase their shareholding and repurchase, but they were deeply involved. Under this circumstance, investors on the interactive platform began to question Zhang Xuansong’s “left and right hand” behavior. Although Zhang Xuansong increased his holdings of 150 million shares through concerted actions recently, after several operations, he finally held The number of shares of some has decreased by 340 million shares from before the announcement of the increase in holdings.

Consumers accused of “flicking” with Moutai

The above live event was hosted by Yongyuehui Winery, which specializes in high-end liquors under Yonghui Supermarket, and was carried out on the Yonghui Life APP, starting at 18:00 on June 5th. The rule of the event is to purchase 999 yuan of drinks during the live broadcast, and the top 10,000 will be eligible to purchase a 500ml bottle of Feitian Moutai 53 degrees for 1499 yuan. ,

Screenshot of Yonghui Life APP live broadcast

However, according to Black Cat’s complaint, many consumers believe that they have met the conditions, but Yonghui Life APP refused to redeem Moutai coupons.

The user with the ID name “xlli2012” stated in the black cat complaint that he paid at 18:04 and completed an order of 1096 yuan, and the anchor also claimed that there were 2000 people remaining at around 18:06, and Emphasize that consumers who pay before 18:05 are eligible for Moutai coupons. However, until the end of the live broadcast, xlli2012 did not receive Moutai coupons. It asked the customer service. The other party said that due to the hot buying, there was a serious system delay in the payment of the order at the beginning of the event, resulting in delays in the actual ranking broadcast. The display shall prevail, and the coupon will not be renewed if it is not obtained, and the originally purchased drinks are not allowed to be returned. Regarding the situation encountered by itself, xlli201 stated in the complaint that the Yonghui Life APP “deceived customers and made false sales.”

User complaints about live events on Yonghui Life APP. Picture source: Black Cat Complaints

The experience of other complainants is similar to that of xlli2012. They all stated that the payment was completed before the anchor claimed that there were 2,000 places left, but without exception, they did not receive Moutai coupons. The consumer with the ID name “秦Qin岭Lin” said that he successfully paid at 18:04:50 but was not eligible to buy Moutai, while those who paid at 18:08 and paid at 18:11 both purchased For Moutai qualifications, “Qin Qin Ling Lin” was very puzzled about this and asked Yonghui Life APP to “disclose the top 10,000 information and fulfill its promise!”

User complaints about live events on Yonghui Life APP. Picture source: Black Cat Complaints

The rules of the above live broadcast show that the first 10,000 users are satisfied with the “payment completion time”. Why is Qin Ling Lin who paid at 18:04 is not in the top 10,000, but at 18:08 and Are consumers who paid at 18:11 in the top 10,000? In this regard, “Investor Net” tried to contact Yonghui Supermarket to find out the situation, but the other party did not reply.

In response to the above situation, Ding Mengdan, a lawyer at Beijing Yingke (Hangzhou) Law Firm and a special researcher of the E-commerce Research Center of Net Economics, told Investor.com, “Yonghui Life APP provides purchase qualifications to consumers who meet the shopping conditions of 999 yuan. , In order to achieve a competitive advantage by selling goods and gaining traffic, it is a rewarded sales behavior. And Yonghui Life APP should clearly announce the participation conditions, participation methods, qualification redemption time, redemption methods and other information before the reward sales. Before the live broadcast event In the process, Yonghui shall also publicize these contents in a timely manner to ensure the timeliness, effectiveness and accuracy of the live broadcast.”

In addition, if the live broadcast personnel are inconsistent with the real order data and subscription qualification exchange in the background during the oral broadcast process, they should promptly adopt other methods to publicize the list of users who have redeemed qualifications. However, if Yonghui false propaganda, fictitious qualifications and exchange quantity, time, etc., it may be suspected of false propaganda, and its behavior is regulated by the “Anti-Unfair Competition Law” and “Interim Regulations on Regulating Promotional Behavior”. Ding Mengdan added to “Investor Net.”

According to Black Cat’s complaint, the appeals of the 240 consumers mentioned above have been responded to by Yonghui Supermarket. The content of the response has not been made public, and the progress of the complaint of a small number of people has been completed. Although Yonghui Supermarket quickly responded to the demands of these consumers on the Black Cat complaint, it triggered a crisis of trust among some consumers. This is not the first time that Moutai was overturned in Yonghui Supermarket. In March of this year, Beijing Commercial Daily reported that many consumers placed an order on the Yonghui Life APP to buy 53-degree Flying Moutai, but they were told that they could not pick up the goods at the time of delivery. No refunds, questioned Yonghui Supermarket’s “use of Maotai powder”.

Frequent quality problems have seen a significant decline in market value

At the same time, Yonghui Supermarket has been repeatedly named by the supervision and management for food quality problems this year.

On June 1, the Shaanxi Provincial Market Supervision Administration issued a notice on the unqualified 9 batches of food on its official WeChat account. The notice stated that 441 batches of samples of 11 categories of food were inspected for food safety supervision. 9 batches of samples of 5 categories were unqualified, and illegal use of prohibited substances, excessive veterinary drug residue limits, and illegal use of prohibited veterinary drugs were detected, and the quality was not up to standard. The problem of excessive use of food additives. The food sold by the two branches of Shaanxi Yonghui Supermarket Co., Ltd. (hereinafter referred to as “Shaanxi Yonghui”) has been on the “black list.” Among them, one batch of sulfonamides (total) and trimethoprim sold by Guangshun free-range black-bone chicken sold by Shaanxi Yonghui Xi’an West Chang’an Street Branch did not meet the national food safety standards; Shaanxi Yonghui Hanzhong Xixin Street Branch The sold ice wing root (food category: chicken), a batch of volatile basic nitrogen does not meet the requirements of national food safety standards.

Since the beginning of this year, Shaanxi Yonghui has been named by the regulatory authorities many times. Searching on the WeChat official account of the Shaanxi Provincial Market Supervision Administration with “Yonghui” as the key word, you can find that in addition to the June announcement, it was reported on February and April this year. The food non-conformity notices in January and May are on the list. According to the company’s inquiry, Shaanxi Yonghui is a wholly-owned subsidiary of Yonghui Supermarket.

Image source: WeChat public account of Shaanxi Provincial Market Supervision Administration

In addition, according to People’s Daily Online, in the first quarter of this year, Yonghui Supermarket had 15 batches of unqualified foods in Fuzhou, Putian, Longyan and other locations in Fujian. The number of unqualified product inspections reached 8 times, and the unqualified items of the random inspections involved ofloxacin, enrofloxacin, cadmium, etc.

Yonghui Supermarket, which is plagued by negative news, also suffered a sharp setback this year. In the first quarter of this year, Yonghui Supermarket’s revenue was 26.3 billion yuan, down 9% year-on-year; net profit was 23.32 million yuan, down 98% year-on-year. The stock price has also begun to drop, and the market value has been shrinking. In order to maintain the stock price and increase investor confidence, Yonghui Supermarket announced on November 4, 2020 that it will repurchase at a price of no more than 2.7 billion yuan in a bidding transaction. The company shares 150 million-300 million shares. Affected by the positive repurchase, Yonghui Supermarket’s share price rose 4.13% the next day to close at 8.12 yuan per share. The announcement of the company’s chairman Zhang Xuansong’s shareholding increase was issued on February 2, 2021. He plans to increase his holdings of the company’s shares by 75 million to 150 million shares within the next six months, at a price not exceeding 9 yuan. On the day of the announcement, the company’s stock price rose 5.97% to close at 7.28 yuan per share. However, it can be seen from the longer-term stock price trend that the company’s repurchase plan did not bring about a continuous rise in the stock price, but showed a general downward trend.

Yonghui Supermarket’s repurchase plan was announced on May 22, 2021. The company spent a total of 2.69 billion yuan to repurchase 390 million shares. Zhang Xuansong’s shareholding increase plan was announced on June 3 and completed. People acting in concert increased their holdings of 150 million shares of the company through bidding transactions. At this time, Zhang Xuansong and people acting in concert held a total of 1.557 billion shares of Yonghui Supermarket, accounting for the total. 16.3% of share capital. As of June 3, the company’s repurchase and shareholding plan came to an end. At this time, the stock price had fallen from a high of 8.12 yuan before the repurchase to 5.58 yuan. As of the close on June 11, the company’s stock price closed at 5.32 yuan per share.

The stock price continues to decline, and many investors questioned the company’s chairman Zhang Xuansong’s behavior of “hands on each other” and “selling high and buying low” on the interactive platform. The question stems from the company’s announcement on the completion of an internal equity transfer plan announced on June 3rd. Due to family asset planning needs, Zhang Xuansong has internally transferred the 350 million shares he owns to persons acting in concert through a block transaction. , Namely Xishirun Herun private equity fund product. According to the company’s inquiry, the investor of Xishirun’s private equity fund products is Shanghai Xishirun Investment Management Co., Ltd., and the majority shareholder Han Chun, who holds 80% of the company’s shares, is also associated with a company called “Beijing Sequoia Yade Equity Investment Center (Limited) Partnership)” company (hereinafter referred to as “Beijing Sequoia Yade”), and Zhang Xuansong holds 1% of the shares of Beijing Sequoia Yade.

After the above-mentioned equity changes, the total shareholding ratio and number of Zhang Xuansong and the concerted person Xishirun Herun private equity fund products have not changed, while Zhang Xuansong’s own shareholding has dropped from 1.407 billion shares to 1.061 billion shares. It also dropped from 14.79% to 11.16%. In addition to the 150 million shares previously increased, Xishirun Herun Private Equity Fund products currently hold a total of 490 million shares of Yonghui Supermarket, accounting for 5.2%.

It is worth noting that according to the announcement made by Yonghui Supermarket on June 8, Zhang Xuansong intends to continue to increase his holdings of the company’s shares by 150 million yuan to 300 million yuan in the next six months. On June 9, Yonghui Supermarket closed up 0.33. %, it closed down 0.74% on June 10. Regarding whether the shareholding increase plan in the next 6 months will continue to be implemented by Xi Shirun Herun private equity fund products, which are acting in concert? “Investor Net” sent a letter to Yonghui Supermarket for verification, but no response was received. (Produced by Thinking Finance)■

However, there are still old people who have aspirations for thousands of miles. Although they have reached the legal retirement age, they still continue to lead the company to gallop in A shares.

According to incomplete statistics from the IPO Daily, as of June 15th, in the A-share market, there were 479 actual controllers who were male, over 60 years old, and who were also chairman of the company.

“After 50” the most

Among the 479 “senior-aged” male actual control persons, 228 were 60 to 64 years old, 159 were 65 to 69 years old, 65 were 70 to 74 years old, and 75 to 79 years old. The number of people is 19, and the number of people between 80 and 84 years old is 8.

Data source: IPO daily self-made table

IPO Daily statistics found that the number of people aged 60 to 69 years reached 387, accounting for 80.79%. In other words, among the above-mentioned 479 men, more than 80% are under 70 years old.

According to the age, there are 107 people born between 1960 and 1969, 313 people born between 1950 and 1959, 57 people born between 1940 and 1949, and a total of people born between 1930 and 1939. 2 people, The proportion of “post-50s” is as high as 65.34% .

Data source: prospectus

It should be pointed out that Li Yunxiao, the actual controller of Sun Cable, and the actual controller of Haitian Precision Zhang Jingzhang is 84 years old this year and is the oldest actual controller and chairman of the A-share listed company .

Half from these 6 industries

According to statistics from the IPO Daily, the above-mentioned 479-controlled companies are mainly distributed in 47 industries. Among them, there are 50 pharmaceutical manufacturing companies, 42 electrical machinery and equipment manufacturing companies, 37 computer, communications and other electronic equipment manufacturing companies, 37 general equipment manufacturing companies, 37 special equipment manufacturing companies, and automobile manufacturing companies. There are 36 companies in the industry, 239 companies in total, accounting for 49.9%.

This also means that nearly half of the men who have reached the legal retirement age but still serve as the actual controller and chairman of the company come from the above six major industries.

Data source: IPO daily self-made table

The market value exceeds 6775.1 billion yuan

So, what is the performance of the above-mentioned 479 male-controlled companies?

According to statistics from the IPO Daily, as of June 15th, the total market value of the 479 male-controlled listed companies totaled 6,775.135 billion yuan. Among them, the market value of Mindray Medicine controlled by Li Xiting is as high as 566.694 billion yuan, which is the company with the highest market value among the above-mentioned 479 companies; while the market value of Haitian Flavour Industry controlled by Pangkang has also exceeded 500 billion yuan, reaching 553.743 billion yuan. Afterwards.

The IPO Daily News further inquired and found that as of June 15, there were only 18 of more than 4,300 A-share listed companies with a market value of more than 500 billion yuan.

In addition to the two companies mentioned above, Zhifei Biotech controlled by Jiang Rensheng and Sany Heavy Industry controlled by Liang Wengen both have a market value of more than 200 billion yuan. Rongsheng Petrochemical controlled by Li Shuirong, Enjie Holdings controlled by Paul Xiaoming Lee, and Cao Dewang controlled. The market value of Fuyao Glass, Huayou Cobalt controlled by Chen Xuehua, Huali Group controlled by Zhang Congyuan, and Cobos controlled by Qian Dongqi are more than 100 billion yuan.

Data source: IPO daily self-made table

In other words, Among the companies controlled by the above-mentioned 479 men, 10 companies have a market value of more than 100 billion yuan .

Worth more than 150 billion yuan

Let’s take a look at their worth.

Due to the large number of people reaching the statutory retirement age, the IPO Daily selected those male actual controllers who were over 70 years old.

Flush shows that as of June 15, a total of 92 male actual controllers and chairman of A shares are over 70 years old. The specific shareholding ratio is as follows:

Data source: IPO daily self-made table

The IPO Daily reported that among the 92 men mentioned above, the value of the listed company’s equity held by many of them reached 100 million yuan, as follows:

Data source: IPO daily self-made table

Overall, The above 92 men are worth more than 340 billion yuan in total by holding equity in these listed companies. .

Among them, Li Xiting has reached 156.862 billion yuan through holding equity in Mindray Medical, Gan Zhongru and Cao Dewang have exceeded 20 billion yuan through holding equity in Ganli Pharmaceutical and Fuyao Glass respectively, and Li Rucheng, Wu Yiling, and Zhang Congyuan have also passed The equity value of the company it controls exceeds 10 billion yuan.

Wen|Wang Xin

Edit | Take Shiyang

After taking the helm of Brilliance Group for 13 years, in April 2019, when receiving the retirement notice, Qi Yumin once left a message in the circle of friends: “Life is short, the past is cleared.” Last year, two weeks after Brilliance Group went into bankruptcy and reorganization, Qi Yumin was officially dismissed and investigated. Many people attribute his investigation to the continuous financial crisis of Brilliance Group in the second half of 2020.

Now, Qi Yumin, who has retired for two years, has not returned to his hometown of Xi’an as expected to live his longing for “Going Back to the Garden”. What he has to face is a serious accountability-due to the dereliction of duty in reporting the profits of Brilliance Group during his tenure, he was expelled from the party and collected illegal gains.

On June 15th, with the approval of the Liaoning Provincial Party Committee, the Liaoning Provincial Commission for Discipline Inspection conducted an investigation and investigation on the suspected 10 serious violations of discipline and law by Qi Yumin, chairman and president of Brilliance Automobile Group Holdings Co., Ltd. (hereinafter referred to as “Brilliance Group”). .

After investigation, Qi Yumin seriously violated the party’s political discipline, organizational discipline, integrity discipline, work discipline, and life discipline, constituted a violation of the law and was suspected of crimes of bribery, embezzlement of public funds, and crimes of abuse of power by state-owned company personnel. Research by the Standing Committee of the Provincial Commission for Discipline Inspection And reported to the provincial party committee for approval, decided to give Qi Yumin expelled from the party; cancel the treatment he enjoyed according to regulations; collect his illegal income; transfer his suspected crime to the procuratorial organ for review and prosecution in accordance with the law, and the property involved is also transferred.

During his 13 years as chairman of Brilliance Group, Qi Yumin left a lot of controversy. In the past 13 years, Brilliance Group relied on a joint venture with BMW, and its own brands eventually fell out of the mainstream market. Since then, Brilliance Group, which has lost its hematopoietic ability, entered the bankruptcy reorganization process at the end of last year, and its Hong Kong-listed company Brilliance China (01114.hk) has fallen into rumors of “privatization”.

Qi Yumin: In the past, it could not be cleared

Some people say that Qi Yumin is different from other Autobots. He never wanted to enter the auto industry.

Looking at his work experience, Qi Yumin has a complete resume of a state-owned enterprise. From 1982 to 2004, a planner from Dalian Heavy Machinery Factory has been the chairman and general manager of Dazhong, Crane Group. In 2004, he served as Deputy Mayor of Dalian Municipal People’s Government. Since 2005, he has been in charge of Brilliance Group for 13 years until retirement.

“I came to Brilliance in a daze. After I came, I really felt like I fell into a fire pit.” Qi Yumin said when he just took over the Brilliance Group.

At that time, the Brilliance Group, which was transformed from a privately-owned company to a state-owned holding company, experienced an unprecedented four-year era of great turbulence and chaos, and its development was in trouble. At this time, Brilliance Auto was in a huge loss for three years, unable to pay wages, and still owed the supplier 1 billion yuan in payment. Due to poor efficiency, there was a serious loss of personnel. The first thing Qi Yumin did was to go to the bank to borrow money everywhere, and in just 5 days he took a loan of 700 million yuan to open his salary, repay the arrears, reorganized parts suppliers, launched the Junjie model, and successfully raised 1.5 billion yuan in Hong Kong. , To solve the urgent need of Brilliance Auto.

Although Qi Yumin had hoped to make a breakthrough in the self-owned brand sector, many attempts were unsuccessful. After years of decline in the technical strength and sales performance of Brilliance’s independent business, it ranked bottom among large state-owned auto companies.

Public data shows that the sales of Brilliance’s own brands have been declining year by year in the past three years. In 2018, Brilliance Automotive’s overall sales volume was 89,400, a year-on-year decline of 31.7%, ranking bottom. In 2019, Brilliance Auto’s sales volume was 49,100. In 2020, Brilliance Auto’s sales slashed again to only 22,800 units, ranking bottom among state-owned auto companies again.

According to the data released by the Passenger Association, in 2020, coupled with the impact of the epidemic, Brilliance China, which had a high-light moment, suspended production and shifts, and its annual sales were even zero. Huasong MPV models also encountered the same dilemma.

The explanation for the decline in sales of independent brands by the executives of Brilliance Auto has always been that there are shortcomings in terms of channels and brand power. “Because the market operation cannot keep up with the product, the network system is relatively fragile and cannot provide support for the current sales target.”

In fact, Brilliance Auto was once a disruptor in the auto industry, aggressively and boldly experimenting with the shareholding system and the bankruptcy system.

In the era of Yangrong, Brilliance took three steps: in 1989, the Jinbei opened the way to introduce technology from Toyota and other companies; in 1992, Jinbei GM and 2003, BMW Brilliance launched a joint venture model; in 2000, China Motor launched its own autonomy. The prelude to research and development.

In addition, Brilliance International negotiated with Rover of the United Kingdom and Renault of France to conspire to acquire Shaanxi Qinchuan. However, due to the “Rover Project” in the later period, Yang Rong and the government had conflicts over the ownership of Brilliance. After the breakdown of the negotiations, Yang Rong went to the United States in 2002 and did not return. The Liaoning Provincial Party Committee dispatched a working team to Brilliance to conduct a comprehensive inventory of Brilliance’s assets, and thus took back control of Brilliance.

At present, as a state-owned enterprise in Liaoning Province, Brilliance Group directly or indirectly controls and participates in four listed companies, and through its listed company Brilliance China and BMW jointly established BMW Brilliance, which has its own brands Zhonghua, Jinbei, Huasong and BMW Brilliance, Two joint venture brands of Brilliance Renault.

But after 2002, Brilliance suffered from the “common problems of large state-owned enterprises”: product system confusion, lack of pillar models, excessive reliance on joint ventures, and the escape of a large number of talents and dealers caused Brilliance’s mid-level failure, which has not changed so far.

From a historical perspective, Brilliance Auto has lost many good opportunities, including the Rover project (termination of compensation), Renault domestic project (termination of compensation), Chevrolet SUV, domestic pickup project (integrated by SAIC GM), and joint venture projects in BMW China also lost the right to speak.

In the capital market, Brilliance has planned many plans, including adding some new listing platforms, but they have not been realized so far, including the listing of Shenyang special vehicles. In 2015, Brilliance had a plan to go public in two years, but it failed to materialize. As the No. 1 Jinbei brand in China, and even China Motors, which was once comparable to the international brands, it gradually became silent after news of wage arrears, suspension of production, and long vacations came out.

Earlier, some Brilliance insiders told AI Finance and Economics that the government-based management and the officialization of personnel are the fundamental reason for the decline of state-owned auto companies.

A 1 billion bond default triggers bankruptcy and reorganization

Everything is so sudden, Brilliance Group is “bankrupted”.

As Brilliance Group’s 1 billion private placement debt “17 Huaqi 05” expired on October 23, 2020 and failed to be paid on schedule, Brilliance Automotive was sold by its supplier, Gezhi Automotive Technology Co., Ltd. in Liaoning. The Intermediate People’s Court of Shenyang City in the province filed for bankruptcy and reorganization.

Since Brilliance Group has constituted a debt default amount of 6.5 billion yuan, the total amount of overdue interest is 144 million yuan. Brilliance was unable to repay due to tight funds.

On November 20, 2020, the Shenyang Intermediate People’s Court ruled to accept the creditor’s application for reorganization of Brilliance Auto Group, marking that Brilliance Group has officially entered the bankruptcy reorganization process. The reorganization only involves the self-owned brand sector of the group’s headquarters, and does not involve the group’s listed companies and joint ventures with BMW and Renault.

Since the second half of last year, problems such as the collapse of bonds, high debt levels, freezing of equity, zero sales, and decline of independent brands have continued to emerge. Brilliance Auto has undoubtedly become a brand that is on the verge of life and death.

“If I caught a cold, I entered the morgue.” This is the intuitive feeling of the outside world about Brilliance Automobile’s sullenness.

Who knows, such a billion-dollar giant can’t pay 1 billion private debts, and the fundamental problem is no longer an overnight disaster. Behind this, the assets of Brilliance Group are not healthy.

According to statistics, in the three years from 2017 to 2019, the total liabilities of Brilliance Automotive Group were 114.256 billion yuan, 119.585 billion yuan and 144.781 billion yuan respectively; and the asset-liability ratios for the three years were 70.84%, 69.93% and 74.11% respectively. .

In the first half of 2020, the total liabilities of Brilliance Group have reached 132.844 billion yuan. After deducting goodwill and intangible assets, the asset-liability ratio is 71.4%. In addition, as of October last year, Brilliance Auto had issued 34 bonds and 14 remaining bonds, with a total outstanding bond balance of 16.2 billion yuan.

In September of that year, Qi Kai, the vice president of Brilliance Automobile Group Holding Co., Ltd., who had just taken office, said in an interview that, in terms of finance, Brilliance Group did encounter the problem of shortage of funds and liquidity, but “Brilliance Group sits on 170 billion assets. , The debt is more than 120 billion, and the debt ratio is about 70%.” Therefore, “as a production and operation enterprise, the debt and assets are relatively reasonable, and the debt-to-asset ratio is at the middle level of the industry.”

While explaining the rationality of assets and liabilities, while exporting to the market confidence in boosting the sales of its own brands, Qi Kai’s presence did not divert everyone’s worries about the insolvency of Brilliance Group.

The latest news is that in May 2021, Brilliance Group issued a reorganization progress announcement stating that as of May 19, 2021, the administrator has received a total of 5,986 creditors to declare claims, and the total amount of claims is 53.673 billion yuan, of which the administrator The total amount determined in the preliminary investigation was RMB 39.1 billion.

Over-reliance on BMW’s own brand is weak

“I know that many people scold me for not engaging in self-owned brands, but in fact, if others are better than you, they are better than you. You have to be brave enough to admit it.” Qi Yumin said in an interview with the media in 2017.

The focus on joint ventures, the abandonment of autonomy, the lack of technical input, and the lack of pillar models have left hidden dangers for the decline of Brilliance Auto.

Critics believe that Qi Yumin’s “not enterprising” on products and his “ignorant” to the group are the important reasons for the decline of Brilliance.

“The money earned from BMW Brilliance will be returned to Brilliance’s independent business.” Qi Yumin said, “If you haven’t learned technology in 30 years, China should reflect on it. My reflection is that foreign teachers did not teach well and Chinese students did not learn well. .”

So Qi Yumin chose a shortcut: use joint ventures to feed back independence. Qi Yumin intends to use the “big plane” to provide power-technology comes from BMW, and then high technology to support his own brand, in addition to continue to integrate the automotive industry and capital markets, and finally corporate culture and management-internationalization, modernization, and marketization . Two tail wings: one is the engine and the other is diversified, including the capital market.

“Our proposition is a healthy interaction between the financial market and the automobile industry. The reason why I set up a capital company is to develop an independent industry. 100% of the money I financed and the return on investment I earn are invested in the two independent brands of Zhonghua and Jinbei. Development.” Qi Yumin said.

It is a pity that things go against people’s wishes.

BMW Brilliance almost supported the entire Brilliance Group and continued to provide blood transfusions for Brilliance, while Brilliance’s own brands have almost stagnated.

Since 2011, Brilliance China’s annual operating income has been maintained at 5-6 billion yuan, but its net profit has ranged from 1.8 billion to 5.3 billion yuan. At the same time, BMW Brilliance provides annual profits of Brilliance China of RMB 1.7-5.5 billion, accounting for 94.9% -119.6%. In the five years from 2015 to 2019, if the profit of BMW Brilliance is excluded, Brilliance Auto has been at a loss, with a cumulative loss of 3.484 billion yuan.

In 2018, the 15th anniversary of BMW Brilliance, BMW acquired 25% of the shares of BMW Brilliance for 3.6 billion euros, with a shareholding ratio of 75%, which caused an uproar in the industry.

Many people worry that when the shareholders of BMW Brilliance complete the equity change, it may be the beginning of the loss of Brilliance China. It is also said that Brilliance Auto is likely to be completely reduced to BMW’s foundry.

At that time, Qi Yumin responded to the change in share ratio on TV: “Hong Kong’s listed companies are mainly supported by BMW Brilliance. As soon as the share ratio is released, the capital market will react soon, but they only know that Brilliance will leave BMW and it will be over. Since the 75% share ratio is nothing to talk about, then I have to talk about other benefits. I have limited two, one is to ask the joint venture to make the cake bigger and at least double it, otherwise it would be meaningless to liberalize the share ratio. The second is that the shareholders of both parties need to obtain greater economic benefits. Even if Brilliance’s equity ratio changes from 50% to 25% in three years, the interest at that time must be greater than the current 50% equity ratio.”

On February 3 this year, Brilliance China’s stock changed, and even the stock price of the same automobile Jiefang soared. There are rumors that FAW Group will acquire the shares of Brilliance China. The transaction value is about 7.2 billion U.S. dollars (about 46.7 billion yuan) in an attempt to privatize Brilliance. , But soon, Brilliance China responded: “I don’t know the source of the information contained in the media report.”

At present, this is the biggest good news for Brilliance Group in the process of bankruptcy and reorganization.

This article was originally produced by AI Finance and Economics, an account of “Finance World” Weekly. Please do not reprint it on any channel or platform without permission. Offenders must be investigated.

Last Thursday, BYD became popular because of his boss Wang Chuanfu’s speech.

BYD Chairman Wang Chuanfu “proclaimed” Lei Jun said, “5 billion is nothing to Lei, and 100 billion is not a problem. The key is to waste three years of your time. How much is the value of these three years?” The media interpreted Wang Chuanfu as persuading Lei Jun not to build a car so as not to waste time.

On the evening of the 13th, Wang Chuanfu urgently refuted the rumors and revealed a big advantage. He was negotiating with Xiaomi for a car project!

Wang Chuanfu refutes rumors: Lei Jun did not persuade him not to build a car

Is negotiating with Xiaomi to make car cooperation

A few days ago, BYD Chairman Wang Chuanfu stated at the 2021 China Automotive Chongqing Forum that it is a misunderstanding to persuade Lei Jun not to build a car, and he is negotiating with Xiaomi to discuss cooperation in the automotive field.

Wang Chuanfu pointed out that the issue was misunderstood by the media, saying that BYD persuaded Xiaomi’s Lei to not build cars. In fact, Xiaomi and BYD have a very good cooperative relationship, because BYD has produced a large number of Xiaomi mobile phones for Xiaomi, BYD and There is a very strategic partnership between Xiaomi.

In the future automotive business, BYD will also support Xiaomi’s development in the automotive field. Not only does it support, BYD is also willing to cooperate with Xiaomi in the automotive field, and is negotiating some projects.

Wang Chuanfu also explained the example at that time again. In the field of automobile iteration, the strategic direction is very important. If the strategic direction is good, you should avoid detours. If the strategic direction is not good, you will lose 3 or 4 years. Time, then there may be no chance in the fierce competition.

Therefore, precise strategic direction is an important feature of success.

When talking about the battery problem, he said that the blade battery is a critical period for BYD, and reform requires key technologies to solve the pain points of the market. BYD proposed blade batteries in March last year, which changed the direction of batteries in China and the installed capacity increased rapidly. In the past May, the monthly output of lithium iron phosphate batteries in my country exceeded that of ternary lithium batteries for the first time in the past three years. In May, the total output was 63.6%. BYD relied on blade batteries to reverse the structure and bring back the industry’s oscillations.

What did Wang Chuanfu say last week?

On the afternoon of June 10th, #Wang Chuanfu claimed that Huawei’s mobile phone was made by BYD.# rushed to the hot search on Weibo.

On the evening of June 9, at the 2021 Yabuli China Entrepreneurs Forum, BYD Chairman Wang Chuanfu shared.

Wang Chuanfu said that new energy vehicles are the outlet. Everyone thinks that the market is very large and the growth rate is very fast. Everyone rushed in. However, new energy vehicles are a new thing, and there are many routes. If the route is crooked, it may lose money and time.

Wang Chuanfu emphasized the importance of precise strategy for enterprises, saying that 5 billion is not money for many big coffees who come in, but the time cost is very important. “For example, Mr. Lei (Lei Jun), 100 billion (making a car), the key is to waste your three years, how much is the value of these three years? You can’t buy it with money.”,

Wang Chuanfu denied whether the above remarks implied that Xiaomi chairman Lei Jun would spend a lot of time building cars. “If the company’s strategic direction is wrong, it may not be too much to lose 5 billion, but you have lost three years, this is very important.”

Wang Chuanfu emphasized the importance of making the new energy vehicle market bigger: “Whether it is a new force that builds a car, whether it is a platform or a mobile phone, it will build electric vehicles after entering (making cars). China’s electric vehicle market penetration The rate is only 12%. In fact, we need them to come in, and use 90% of the cakes of fuel vehicles to use mobile phone traffic and mobile phone fans. Some platform companies use its traffic and ecology to come in and persuade everyone not to buy it. Fuel cars, all come to buy electric cars. Doesn’t this cake get bigger? When it gets bigger, it depends on whose technology you have to cut (good).”

Wang Chuanfu believes that it is a good thing for so many players to enter the new energy vehicle industry. Fuel vehicles will be slowly replaced, but the market competition will become extremely fierce.

The last time Xiaomi talked about car manufacturing was in the first quarter financial report exchange at the end of May. President Wang Xiang said that it may take three years to build a good car. He does not think the chip shortage will continue for three years, and now he does not consider this issue. Car building is still in the early stages.

In addition, Wang Chuanfu said, “We OEM many mobile phones, and most of Huawei’s mobile phones are made by us.”

“Whose are you using? Huawei’s, we made it. We made 90% of Huawei’s metal frames, and we made the entire processing and assembly of OEMs,” said Wang Chuanfu.

As a company that has been focusing on investments in the new economy for a long time, Hanergy has created a number of successful classic cases in the past, helping many companies to rapidly grow into industry leaders. In addition to JD Logistics recently, the direct recruitment of BOSS, which was just listed in the United States on the evening of June 11, has also brought huge returns to Hanergy’s investment. Chen Hong said: “Investment in direct recruitment of BOSS has earned about a dozen times.”

“Internet celebrity” products may just be a gust of wind

Chen Hong, Chairman and CEO of Hanergy Investment Group.Photo by Xue Yufei, Sino-Singapore Jingwei

As a well-known figure in the investment banking circle, Chen Hong’s entrepreneurial history began in the United States on the other side of the ocean. He started his business in Silicon Valley in 1993. In 1999, he led the founded GRIC company to land on Nasdaq. One of the Chinese entrepreneurs who led the company to go public.

In 2003, he chose to return to China to start his own business and set up the Hanergy Investment Group. Over the years, the company has invested in and participated in mergers and acquisitions of many well-known companies. For example, in the merger of 58.com and Ganji.com, Hanergy acted as the exclusive financial advisor to Ganji.com, helping it sort out the complicated shareholder background and corporate structure, and facilitate the smooth completion of the transaction; in 2011, Hanergy invested in Chinese Online, the latter of which It was listed in January 2015 and became China’s “first share of digital publishing”. Hanergy’s total investment return on Chinese online shares reached 12.34 times, with an IRR of 79%.

Currently, Hanergy focuses on investments in the Internet economy, technology, consumer and medical fields. He told the Sino-Singapore Jingwei Client: “Invest in China’s new economic industries, choose and hold those scarce resources that have good growth potential. You can withdraw part of it when you need a return, and hold the rest for a long time. In the end, the return will definitely follow. Grow with economic development.”

In 2018, Hanergy invested in JD Logistics because of its new economic attributes. Chen Hong said that JD Logistics is not a traditional logistics company. It has a strong sense of science and technology. It has many of its own things and its service quality is higher than that of its peers. JD Logistics is relatively independent, serving both JD Group and other e-commerce companies. “The scale of e-commerce companies is growing rapidly. There are always a few leading companies, so I invested.”

Speaking of the recent changes in investment trends in the Internet field, he said that since the high-speed growth period has passed, “many Internet companies may not have much growth in their daily activities.” This has led to fewer Internet-related investment opportunities than in the past, but there are still some areas that are relatively hot.

The first thing worth paying attention to is the field of corporate services. Chen Hong believes that China’s To B service enters the development period, and there will be the emergence of leading companies, and there will be growth opportunities. The unicorn that Hanergy has just invested in has a turnover of several hundred million yuan, but its market valuation has reached tens of billions of dollars.

Followed by the medical services and biotechnology industries. He estimated that based on China’s huge population base, there may be one or two medical companies with a market value of hundreds of billions or even trillions in the past two years.

In the past, new consumer areas that VCs were not interested in have also undergone many changes. For example, consumer brands such as Heytea, Bubble Mart, and Yuanqi Forest have emerged rapidly and have become popular “net celebrity” products. Chen Hong believes that this sends a signal, “As China becomes more powerful, consumers, especially young people, will gradually like domestic consumer brands.”

However, he also reminded that in the new consumer field, if a company only relies on a “net celebrity” product to make money, it is likely to be a gust of wind, and after a while, it will quickly disappear. In the past, there were a lot of similar “net celebrity” products. He also said: “If the management team has the ability to grasp a favorable market position when they are pushed up by others, and can provide more related products in their value ecosystem, they may survive. But this is not the case. Every entrepreneur can play it.”

In addition, Hanergy is also looking at areas related to “carbon neutrality”, such as new energy batteries, new infrastructure, and electric vehicles.

Investing in startups fancy the founding team

Each venture capital and investment bank has its own investment style. For Hanergy Investment, Chen Hong introduced that Hanergy will generally make a controlling acquisition of the target company with strategic investors. After the holding is achieved, it will use its resources and platforms. Empower the target company to help the company grow. This is also a common style of play between KKR and Blackstone in the world.

In 2005, Chen Hong and his partners made a huge return on their investment in Elevator Advertiser Frame Media, and later entered the Harvard Business School textbook as a case study. The business model of elevator advertising still exists today, and its positioning characteristics are conducive to precision marketing. However, at that time, the market share of elevator advertising was very scattered.

He recalled: “At that time, the company we first invested in had a turnover of 30 million yuan, and the company was insolvent. We went in and held holdings first. Within a few months, we integrated seven or eight companies that do elevator advertising in first-tier cities. Quickly occupy 70% of this market segment.”

Chen Hong said that the benefits of integrating this sub-industry are twofold. First of all, each company does not have to fight price wars, and the competition is smaller. Secondly, as the scale becomes larger and the company’s negotiation ability becomes better, the amount of an order negotiated by an advertising salesperson may change from 500,000 yuan to 10 million yuan. After Frame Media achieved rapid growth, Hanergy assisted in the completion of Focus Media’s acquisition of Frame Media as an exclusive financial advisor. Hanergy’s overall return on investment reached 93 times.

Hanergy Investment has its own criteria for the choice of specific companies. He mentioned that, firstly, it depends on whether the company has the ability to increase its own safety and use its existing market position to continuously innovate to resist risks; secondly, it depends on whether the company can lay a solid foundation in its business field.

He also said that Hanergy will not invest in companies that diversify prematurely. When an enterprise is satisfied with its current market position and intervenes in an industry that it is not good at, it may cause funds to be dispersed and ultimately fail.

In the venture capital circle, there has always been a saying that “investing money is also investing in people”, that is, the quality of the founder and founding team is fancy. Chen Hong also agreed with this statement. He jokingly said, “For start-up companies, this is the only stage that can be seen.”

Hanergy has invested in a start-up company that uses artificial intelligence to detect human breast cancer, lung cancer and other diseases. The research team basically graduated from Peking University with strong professional and technical capabilities. “We believe that with the increase of big data, artificial intelligence will be used to solve some medical problems in the future. In this field, there are many companies that are much larger than this company, but we are very knowledgeable about the technology of the company’s founding team. I admire it very much. The CEO was in charge of China’s medical business at Siemens. It’s very comfortable to talk about. We feel that the company’s people and technology are good, but it’s almost capital and channels. Hanergy was the first to invest. It became the largest shareholder and introduced the business to this company,” he said.

“Put money in” is the real challenge

Chen Hong has always had an external view that the venture capital industry is becoming more and more concentrated, and the Matthew effect is becoming more and more obvious. He also told the Sino-Singapore Jingwei Client: “Large mainstream investment companies have increasingly their own style. You have no style and it is difficult to invest in good projects. The first one is unlikely to give you this opportunity, and the second One is that you can indeed look for companies that no one is optimistic about to invest in, but there are very few opportunities to miss.”

He went on to say that more than a decade ago, it seemed that any person or company could be an investment fund. Now it is not. Investment has become more and more professional. How to systematically invest and get returns is very critical. In the future market, there will not be so many VC and PE funds.

Looking at China’s fast-growing new economic industry, there are many investment opportunities. In each industry, one or several leading companies will emerge to become future leaders. An excellent investment team must first find potential entrepreneurs. However, the biggest challenge is not here. Chen Hong said that smart people can see what a good industry and a good company are, but after finding a company, investment institutions must meet the core demands of entrepreneurs before they can invest funds. This is a real challenge to investors.

Investing in a company is a two-way choice. It is both an investment bank and an investment bank. He said: “When a company accepts investment from an investment bank, it will also look at the reputation of the investment bank and whether it can add points to the company. In addition to capital, whether it can give more empowerment to other external resources.”

For example, he said, some companies may want to connect with Internet companies to seek traffic, and non-head funds do not have much effect in this regard. And this is where Hanergy’s advantage lies. Hanergy has participated in the mergers and acquisitions of about a quarter of large-scale new economy companies in China, and has cooperated with companies such as Tencent, Alibaba, Baidu, JD.com, and Toutiao.

Investment banks are not superior, but serve enterprises with a “Party B” mentality. He said: “I ask our investment team to maintain the’Party B’mentality. When you invest in others, you also ask others to accept investment and to empower and help them. In this way, the work mentality is different.” (Zhongxin Jingwei APP)

Titanium Media News | May 24 News : After Zuo Hui passed away on May 20 due to a worsening condition, who will take over Zuo Hui’s management of shell house finding has become the focus of attention from the outside world. This evening, Shell Search announced that the company’s co-founder, CEO and executive director Peng Yongdong replaced Mr. Zuo Hui as the chairman of Shell, and appointed Shell’s chief operating officer, Mr. Xu Wangang, as the executive director of Shell. At the same time, Shell announced that Mr. Zuo Hui was the “eternal honorary chairman” of the company to commemorate his great contribution and precious spiritual heritage. At the same time, Shell’s announcement also revealed that, from now on, the audit committee of Shell House Search Company is composed of Ms. Chen Xiaohong (Chairman), Mr. Xu Wangang and Ms. Chen Yu; the company’s remuneration committee is composed of Ms. Chen Yu (Chairman), Mr. Peng Yongdong and Ms. Chen Xiaohong; The Company Nomination and Corporate Governance Committee consists of Mr. Dan Gang (Chairman), Ms. Chen Xiaohong and Ms. Chen Yu. The appointment of the chairman and management team of Shell Search Regarding Zuo Hui’s long and sudden death, Peng Yongdong said: “It is very sad that we have lost a founder who laid our business and mission, and the residential industry has lost a leader who has always been exploring and innovating.” Peng Yongdong believes that from the chain home to Shell, Zuo Hui has spent 20 years setting up road signs one after another for China’s housing transaction and residential service industry. These valuable legacy will guide the company to continue to move forward. At the same time, Zuo Hui’s beliefs and values ​​are deeply integrated into the company’s DNA, allowing the management team to be stable and orderly and the organization to grow and grow sustainably and healthily. “As the founder of Shell, in the past, Mr. Zuo Hui was the chairman of Shell; after today, Mr. Zuo Hui is the “forever honorary chairman” of Shell. In this way, we hope to always remember Mr. Zuo Hui and his spirit. I even hope that all shellers can walk on the slow and long snow road of the residential service industry with the spirit of doing the’difficult and right things’,” said Peng Yongdong. According to public information, Peng Yongdong graduated from Zhejiang University in 2001 with a major in electrical engineering. From 2006 to 2010, he served as a senior consultant for IBM strategy and change, providing strategic consulting services for China Mobile, China Telecom, and Lianjia. Judging from Peng Yongdong’s resume at Lianjia, he has been entrusted by Zuo Hui with important responsibilities, which can be said to be an important promoter of Lianjia’s development from a purely offline brand to an online platform. After joining Lianjia in 2010, Peng Yongdong founded the real estate service platform “Lianjia.com” in 2014 and served as the CEO. In 2017, he promoted an open strategy to promote the interconnection of the industry. In 2018, Peng Yongdong, as the co-founder, launched the technology-driven new residential digital service provider “Shell Finding Housing” and became the CEO. A year later, Peng Yongdong announced the creation of the industry’s first school to help store owners achieve professionalism-Huaqiao Academy and served as the principal, starting the professionalization of store owners. On August 13, 2020, Zuo Hui and Peng Yongdong led Shell to officially land on the New York Stock Exchange. Judging from Peng Yongdong’s historical speeches, Peng Yongdong and Zuo Hui’s strategic vision for the residential industry is very similar. In Peng Yongdong’s view, the essence of the residential service industry is the information service industry, behind the information is data, and behind the service are people. The service industry is an industry that relies on “people”. In terms of “people” standards, Peng Yongdong proposed to build new standards with professionalism. For example, Shell House is trained independently by recruiting college students, and with strict professional standards, professional division of labor and integrated services, a stable commission mechanism, and a professional environment conducive to cooperation, so that industry service providers can obtain professional growth and respect. and While affirming the value of the service provider and the digital value, Peng Yongdong, who is a technical background, has a deeper understanding of the digitalization of the industry. “I firmly believe that with the trust and support of consumers, employees, shareholders and partners, the Shell management team will unite and unswervingly complete the legacy of Mr. Zuo Hui, which is also our common mission:’Dignified Servants, better living’.” Peng Yongdong of Shell concluded. At present, although Zuo Hui’s death is a major loss to Shell, the management team he built for Shell has in-depth insights and practices for the residential industry Internet. Under the guidance and encouragement of the core business values ​​of Zuo Hui, the founder of Shell, the Shell management team has been working together for many years, working in a coordinated, stable and orderly manner along the way, continuously improving the basic service quality of the residential industry, and constantly creating long-term value. Shell’s latest financial report shows that Shell’s operating income in the first quarter of 2021 reached 20.7 billion yuan, a year-on-year increase of 190.7%, which exceeded Shell’s previous performance guidance ceiling and market consensus. (This article first published Titanium Media App, author｜Gao Mengyang)

. On the morning of June 15, the delegation of the Provincial Party Committee led by Mr. Ha Quoc Tri – Deputy Secretary of the Khanh Hoa Provincial Party Committee, Head of the Steering Committee 03 had a working session with Khanh Son District Party Committee on the development of the Party and the Youth Union. in private economic units. According to the report of Khanh Son District Party Committee, currently, in the district, there are 10 enterprises operating in the fields of construction, petroleum trading, restaurants, etc., with a total of 126 employees. Over the past time, the Standing Board of the District Party Committee has always paid attention to leading and directing the working group to develop the party and mass organizations in the district’s private economic units to regularly review and screen eligible businesses. to form party organizations and unions. Among 10 private economic units, up to now, Phuong Dai Private Enterprise has established a party organization. It is expected that in 2022, TNT Khanh Son Environmental Urban Company Limited will develop a party organization. Currently, the Standing Board of Khanh Son District Party Committee continues to direct Task Force 274 to review the number of employees working stably at enterprises, consider and foster and develop party members. Mr. Ha Quoc Tri spoke at the meeting with Khanh Son District Party Committee. Speaking at the meeting, Mr. Ha Quoc Tri directed, Khanh Son District Party Committee should focus on leading and improving the quality of party activities in enterprises that have developed party members; improve the input quality of party members; continue to do well in mass mobilization, especially for party members at enterprises. In addition, the District Party Committee needs to have an annual plan for the development of the party and mass organizations at enterprises. . In the morning of the same day, Mr. Ha Quoc Tri and members of the delegation worked at Phuong Dai Private Enterprise. According to the report of Phuong Dai Private Enterprise Branch, at the end of December 2015, the branch was established with 3 party members. Over the past time, the branch has always closely followed the leadership and direction of the Party Committee, the actual situation of the branch to implement the tasks of the unit. In the first 6 months of 2021, the branch has developed 1 party member, it is expected that in the last 6 months of 2021 the unit will develop 2 more party members. At the meeting, Mr. Ha Quoc Tri noted that the enterprise has paid attention to the Party development work in the unit. Mr. Ha Quoc Tri suggested that, in the coming time, business leaders should continue to pay more attention to the development of the Party in the workforce, while consolidating and improving the quality of the cell. Mr. Ha Quoc Tri also asked Khanh Son District Party Committee to create conditions for Phuong Dai Private Enterprise Branch to continue developing new party members in the coming time. Jackie Chan

In the first 6 months of the year, party committees at all levels have inspected 53 party organizations and 186 party members; supervises 24 party organizations and 169 party members; disciplining 1 party organization and 28 party members. Inspection Committees at all levels conducted inspection when there were signs of violations against 1 party organization and 8 party members; inspect the performance of inspection and supervision tasks for 22 party organizations; inspect the implementation of discipline within the Party for 5 party organizations; supervise 11 party organizations and 33 party members; disciplining 12 party members; inspect the collection, payment, management and use of party fees for 36 party organizations; settlement of accusations of 3 party members… Mr. Nguyen Van Ghi requested the next time the inspection committees at all levels base themselves on the regulations and work processes of inspection and supervision of the Provincial Party Committee to advise the committee to amend and supplement to suit the local situation. . In addition, strengthen inspection and supervision of the formulation and implementation of the working regulations of the Party Committee; regularly monitor and grasp the situation of the area in order to promptly correct and check when there are signs of violations, to prevent defects, prolonged violations … NGUYEN NGUYEN

Tencent News “First Line” Tang Yuanyuan On May 24th, Beijing time, Shell Search (KE.NYSE) issued an announcement stating that Shell CEO Peng Yongdong was appointed as Shell’s chairman and Shell’s chief operating officer Mr. Xu Wangang was Shell’s executive director. At the same time, Shell announced that Mr. Zuo Hui was the “eternal honorary chairman” of the company to commemorate his great contribution and precious spiritual legacy. On May 20, Shell officially issued an obituary stating that the founder and chairman of Shell Zuo Hui passed away due to an unexpected deterioration of illness.Zuo Hui, the founder of Shell Company, passed away At that time, Shell officials stated that the company’s board of directors will make appropriate arrangements for corporate governance and related matters, and will issue an announcement in due course within two weeks. Peng Yongdong joined Lianjia in 2010 and served as the deputy general manager. Since 2014, he has served as the CEO of Lianjia.com, and since 2018, he has served as the CEO of Shell House Search. It is understood that when Peng Yongdong was serving as the senior consultant of IBM strategy and change, Zuo Hui was favored by Zuo Hui during the service of Lianjia and invited him to be an executive of Lianjia. Regarding Zuo Hui’s death, Peng Yongdong issued an internal letter “Bye Lao Zuo” on May 20. Peng Yongdong said that Shell has lost a founder who established our career and mission, and the housing industry has lost a leader who is always exploring and innovating. He said, “The spirit of the old left will always inspire us, unswervingly insist on long-termism, and unite as one to do the difficult and right things for the development of the new residential industry!” Shell’s results for the first quarter ending March 31, 2021 show that Shell’s operating income in the first quarter of 2021 reached 20.7 billion yuan, a year-on-year increase of 190.7%; net profit was 1.059 billion yuan, and adjusted net profit was 1.502 billion yuan. . Shell said in the announcement that the company’s executive directors, senior management and Propitious Global Holdings Limited (and the family trust that manages its equity interests) promised that within 365 days from now, they will not sell, transfer or otherwise dispose of their current holdings. There are common stocks or American depositary shares of any company. The following is the announcement of the shell house finding: Shell announces Zuo Hui as “Eternal Honorary Chairman” and Peng Yongdong as Chairman and CEO On May 24, the company’s board of directors decided to appoint Peng Yongdong (S) as the chairman of Shell, and Xu Wangang (A-Gump) as executive director of Shell. At the same time, the company announced Zuo Hui as the company’s “eternal honorary chairman” to commemorate his great contribution and precious spiritual legacy. The following is S speech: It is very sad that we have lost a founder who established our career and mission, and the housing industry has lost a leader who is always exploring and innovating. From Lianjia to Shell, Mr. Zuo Hui has spent 20 years setting up road signs one after another for China’s housing transaction and residential service industry. These valuable legacy will guide the company to continue to move forward. At the same time, Mr. Zuo Hui’s beliefs and values ​​are also deeply integrated into the company’s DNA, so that the management team is stable and orderly, and the organization’s growth is sustained and healthy. As the founder of Shell, in the past, Mr. Zuo Hui was the chairman of Shell; after today, Mr. Zuo Hui is the “eternal honorary chairman” of Shell. We hope that in this way, we will always remember Zuo Hui and his spirit. I also hope that all shellers can persevere on the slow and long snow road of the residential service industry with the spirit of “doing the hard and right things”. I also firmly believe that with the trust and support of customers (consumers), employees, shareholders and partners, the Shell management team will unite and unswervingly complete the legacy of Mr. Zuo Hui, which is also our common mission: ” A dignified service provider, a better residence.” ――Peng Yongdong (S)

During the pilot period, users do not have to pay service fees. Funding for implementation comes from funding from the European Commission and support from agencies implementing the pilot plan. It is known that the plan to connect two-wheeled electric vehicles with BRT fast buses in the planned pilot area has been reported to the City People’s Committee by the Hanoi Department of Transport and Communications. After being approved by the city, stakeholders will soon implement this model.

Mr. Ho An Phong, Vice Chairman of the Provincial People’s Committee spoke at the meeting. At the meeting, the representative of ND Technology Research and Development Joint Stock Company introduced 3 technology solutions for centralized medical isolation management and prevention Covid-19 researched by the company. research, application, that is: Management by monitoring internet connection; Manage by installing the app on a smartphone; Manage by safety strap and install the isolation app. In particular, Managing with a safety strap and installing an isolated app is considered by the company to be the most strict and effective. According to the Manage by safety bracelet solution and install the isolation app, the person performing the isolation will be equipped with a bracelet with bluetooth settings, and at the same time install the isolation management app on the operator’s smartphone. isolation and management staff. The manager will receive an alert when the isolated person leaves the management area, or is more than 10m away from the phone; warn when the isolator turns off the phone, or the phone doesn’t connect to the internet, or removes the quarantine app on the phone; warn when the isolator cuts and removes the safety ring. This application’s requirement is that the quarantine person must use a smartphone with an internet connection. This is a new solution, which has not yet been applied in centralized isolation management in Vietnam, but requires quite high costs. Discussing at the meeting, all delegates strongly agreed with the need to apply technology to monitoring and management in Covid-19 isolated, anti-epidemic areas. At the same time, on the basis of analyzing the advantages and disadvantages of the solutions offered by enterprises, delegates proposed a number of problems, such as: it is possible to integrate many solutions into 1 management software to Apply for each isolated case depending on the level, in order to suit the cost and management conditions when mass deployment. Before mass application, it is recommended to pilot in a number of areas, locations and scope to evaluate the effectiveness in practice. Participants heard about technology solutions for centralized medical isolation management and surveillance for epidemic prevention and control Covid-19 Concluding the meeting, Mr. Ho An Phong, Vice Chairman of the Provincial People’s Committee, Head of the Steering Committee for Prevention and Control of Covid-19 province highly appreciated the solutions proposed by ND Technology Research and Development Joint Stock Company. time affirmed that all three solutions are very practical, can be applied to the centralized isolation monitoring activities against Covid-19 in Quang Binh and bring certain effects. The Vice Chairman of the Provincial People’s Committee assigned the Department of Information and Communications to coordinate with ND Technology Research and Development Joint Stock Company, CDC Quang Binh to inspect and survey concentrated isolated points and areas in the area. the provincial. After the survey, there is a specific assessment to advise the Provincial People’s Committee and the Steering Committee for the prevention and control of Covid-19 provinces on the best plan when implementing the application of centralized medical isolation management for Covid epidemic prevention and control. -19 according to technology 4.0. The delegates discussed at the meeting. Technology application solutions must aim at: Better and more effective management and supervision in isolated areas; Not only can the quarantine cases be managed, but also officials in the quarantine area; the mentality of the isolator is more active, believes in and feels secure in doing quarantine; has high propaganda among the people.

The picture of electrochemical cars in the world Currently, the strong socio-economic development is leading to a skyrocketing number of vehicles, especially cars using combustion engines, which are contributing to a series of problems related to cars. environmental contamination as well as energy needs. However, the electrochemical trend is being applied more and more on vehicles, creating hybrids and electric cars, this is considered the “savior” of humanity in the future. The proof for that is that the sales of these vehicles are on the rise. According to the EV Volumes , the total volume of electric cars (EV) sold globally in 2020 will reach about 3.24 million units, reaching a market share of 4.2% and growing at 43.4% compared to 2019. Of which, 1.15 million units were produced in Europe, 0.5 million units were produced in North America and 1.6 million units were made in the Asia-Pacific region (China, Korea, Japan). The Workshop on Electrified Automotive Trends in Vietnam was recently organized by Tien Phong Newspaper. Currently, China is still the country with the top sales of electric cars in the world with 1.337 million units in 2020, an increase of 12% compared to 2019; Germany ranked second with 398 thousand units, up 254%; The US ranked third with sales of 328,000 units, up 4%. According to the share of Associate Professor – Dr. Dam Hoang Phuc (Deputy Head of Automotive Department – Hanoi University of Technology), cars with electric batteries have appeared since 1839. Over time In short development, electric cars almost disappeared due to the inability to compete with combustion engine cars in the 20th century. However, the mission of this vehicle went back into the 21st century with green cars, most economical and intelligent to protect the environment, limit dependence on fossil fuels. In addition, electric cars not only appear in people’s lives, but also present in all areas such as: Confidential military vehicles, F1 Hybrid racing cars, F1 racing for pure electric cars. Associate Professor – Dr. Dam Hoang Phuc (Deputy Head of Automotive Department – Hanoi University of Technology) gave a speech during the seminar on Electrochemical Automotive Trends in Vietnam. Meanwhile, some forecasts suggest that electric cars will account for 95% of all cars sold in Europe by 2030. Many countries in the “old continent” have set a goal to stop doing business. cars using internal combustion engines by 2050, Norway even announced it would end the sale of these cars by 2025. Developing electric cars in Vietnam needs many supportive policies According to the global trend, the Vietnamese market is also beginning to “set foot” in the electric vehicle sector with the bold direction of VinFast and some cautious moves from Toyota in the past year or so. There are no specific statistics on sales of electric vehicles (both motorcycles and cars) in Vietnam, but disclosures from industry agencies show that the number is not too much. Mr. Nguyen Van Phuong (Deputy Department of Motor Vehicle Quality – Vietnam Registry Department) shared: “In 2020, only 900 electric cars will be imported and used in Vietnam, this number is in the first three months. by 2021 there will be 600 units, however, the majority of them will still be hybrids ”. Mr. Nguyen Van Phuong (Deputy Head of Motor Vehicle Quality Division – Vietnam Registry Department). In fact, there are many opinions that “electrification is an irreversible trend, only a matter of time left”, but there are still many current problems that need to be solved to help this car thrive. more next time. On the concerned side, Mr. Phuong said: “In the new proposal to the parliament, the Ministry of Transport also mentioned tight control of environmental emissions from vehicles and will probably be seen. considered in the next National Assembly session. Regarding the control of the operation scope of all types of vehicles, it can be done, but there is no specific policy ”. Meanwhile, Ms. Nguyen Thi Xuan Thuy (Department of Industry – Ministry of Industry and Trade) replied about the electric vehicle development policy in Vietnam: “Currently, the latest automobile development strategy and planning has been approved by the government. approved in 2014. At that time there was not much appearance of electric vehicles, so there was no specific strategic plan. Electric vehicles have thrived in recent years, posing a problem that needs direction ”. Ms. Nguyen Thi Xuan Thuy (Industry Department – Ministry of Industry and Trade). It can be seen that the current policies for electric cars are not clear enough to strongly promote this industry. While many opinions suggest that the government needs to reduce tax fees for consumers to make the price of electric vehicle ownership more comfortable, manufacturers also need specific support. This is not only a policy story but also a challenge but also an opportunity for the nation. Associate Professor – Dr. Dam Hoang Phuc said: “The government needs to facilitate the development of electric vehicles by: Creating markets, expanding manufacturers, promoting manufacturers and researchers. “. At the same time, he also added: “Our country needs to apply the policy of ‘Inviting eagles to Vietnam to spawn’, which means inviting car manufacturers to produce electric cars in Vietnam”. Sharing on this issue, Mr. Nguyen Trung Hieu (Head of Strategic Planning Division of Toyota Vietnam) said: “Thailand launched its support policy in March, while Indonesia will announce its policy. strong in October, attracting many car manufacturers to invest. In fact, they have ‘finished the nest for the eagle’. Vietnam needs to do something so as not to miss this opportunity as well as this challenge. This is a story of national competition ”. Mr. Nguyen Trung Hieu (Head of Strategic Planning Department of Toyota Vietnam). Capturing the trend of electric car development will help Vietnam catch up with major markets around the world. However, the issue of supportive policies from the government needs to be resolved early to stimulate consumer demand and find a common voice with car manufacturers, helping them to no longer worry about the production of electric cars in Vietnam. Vietnam.

Skynet recovered, and He Xuemei was finally sentenced to 20 years in prison. She paid the price for her actions.

Screenshot of China Judging Documents Network

Public information shows that He Xuemei was born in 1970 in Nanshan District, Shenzhen, Guangdong Province. She graduated from the School of Mechanical Engineering of Chongqing University in 1991.

But looking at the first half of life, she is undoubtedly dazzling.

In 1997, He Xuemei joined ZTE Corporation and began serving as the company’s labor union chairman in 2000. The labor union has two wholly-owned subsidiaries, namely Zhongxing Yihe Company and Yihe Tiancheng Company. He Xuemei serves as the legal representative and chairman of the two companies. In office, she can directly decide to allocate funds from Zhongxing Yihe Company without the consent of any other directors and no board resolution.

The reporter of “Legal Evening News · View News” combed in 2017 and found that He Xuemei often puts three labels on herself: public welfare person, outstanding alumni of Chongqing University, and wife who loves her husband deeply. In January of that year, the first batch of scholarships named after her had just been awarded; when she was interviewed again, she talked about the 30 years that she had walked hand in hand with her husband, “I love his steady and gentle”.

Such a president with a double harvest of career and family, but failed to write the happiness story to the end.

On July 13, 2017, ZTE announced that due to suspicion of illegal fund-raising and duty-related crimes, He Xuemei, the former chairman of the trade union, had voluntarily surrendered to the public security organs. On August 24, the Shenzhen Municipal People’s Procuratorate issued a notice on its official account, announcing that He Xuemei had been arrested on suspicion of embezzling funds.

Screenshot of Shenzhen People’s Procuratorate’s WeChat Official Account

The publication of the criminal ruling of the second instance of this case officially puts the details of the case in front of the public.

Take advantage of your position to embezzle

Observer.com found that from the beginning of 2015 to March 2017, He Xuemei released information about fundraising through his WeChat official account, “He Fan Club”, Yixiu’s personal Weibo, WeChat group, QQ group, etc., advocating that it has low risk , Investment channels with stable returns. He Xuemei used high returns as bait to raise funds from many victims in 26 phases on the “ZTE E-Home” e-commerce platform of Yihe Tiancheng.

Subsequently, He Xuemei used a large number of private accounts to receive and transfer the funds raised, and used the funds raised to Buy high-risk trust wealth management products , Buy real estate , Buy and sell stocks on the secondary market , Return the embezzled company funds , Repay personal debts , Embezzlement and transfer abroad Wait. When it was difficult to return the funds raised due to financial loss and transfer of funds, He Xuemei fabricated the financial performance to continue to raise funds, and used the newly raised funds to return the principal and interest of the due funds, staged a “Ponzi scheme.”

In addition to committing the crime herself, He Xuemei also instructed the trade union secretary Hu Mou, Yihe Tiancheng Company’s Vice Minister of Business Services, Wang Mou and others to commit the crime together. When the confession reached this point, He Xuemei said frankly, “They are just my subordinates and do things according to my instructions, and I don’t need to give them any benefits.” A sum of money fell into this way by “borrowing” from others. He Xuemei’s pocket.

After auditing, He Xuemei has raised a total of 2.11916570107 billion yuan of funds , 8819 participants 25580 person-times, 3921 personnel not returned The total amount of financial management funds is 89,856,809,607 million yuan. The huge amount of funds and the wide range of personnel involved are shocking. After the incident, ZTE Corporation paid all the outstanding funds in advance.

The incident in the East Window can not escape the law

The fire can’t be contained in paper, and things will eventually be revealed.

The “misfortune” caused Xiaoqiang. The internal audit of ZTE Corporation found He Xuemei’s footing.

In 2017, during a routine audit of ZTE, it was found that from March 2015 to December 2016, He Xuemei instructed Yihe’s chief financial officer Ji to borrow and invest in the name of Yihe’s board of directors without a resolution. Unauthorized transfers from the company’s public accounts to individuals (including Yihe employees and non-employees), and company accounts that have no business dealings with the company, accumulatively transferred about 399 million yuan.

After investigation, ZTE found that the above-mentioned funds embezzled by Yihe Company had been returned, but the flow of loans and repayment were inconsistent. After an audit interview, Ji, Hu and others all stated that they acted in accordance with He Xuemei’s instructions. ZTE believed that He Xuemei and Ji had misappropriated Yihe’s funds.

The audit also found that Yihe’s canteen, “ZTE E-home” shopping mall, etc.’s sales revenue, as well as Yihe’s loans, all flowed to accounts actually controlled by He Xuemei. The company believes that He Xuemei is suspected of embezzlement. However, He Xuemei did not cooperate with the company’s investigation and did not clearly state the above facts and the direction of related funds.

On June 21, ZTE commissioned legal counsel Tang to report the case, accusing He Xuemei and others of embezzling funds and embezzling their positions.

On July 11, the investigating agency filed a case for investigation with “He Xuemei and others suspected of embezzling funds.” On the same day, He Xuemei took 50 tablets of clonazepam (a sleeping pill) by herself and was admitted to the hospital for emergency treatment .

On July 12, He Xuemei was discharged from the hospital after treatment and returned to the company accompanied by ZTE staff. She expressed willingness to cooperate with the public security agency in the investigation. Later, her accomplices Hu and Wang were arrested and brought to justice.

On August 9, the investigative agency discovered that He Xuemei was involved in fund-raising fraud while investigating the fact that He Xuemei was “misappropriating funds”. The case of “He Xuemei’s suspected fund-raising fraud” was opened for investigation.

As if she was stripping away a cocoon, He Xuemei’s criminal facts were finally uncovered layer by layer. After careful investigation and solemn trial, she also ushered in the final outcome.

“The defendant, He Xuemei, guilty of fund-raising fraud, was sentenced to 15 years in prison and confiscated RMB 20 million of personal property; for embezzlement of funds, he was sentenced to seven years in prison; for the crime of embezzlement by office, he was sentenced to six years in prison. Combined punishment, a total sentence of 28 years imprisonment, confiscation of personal property of RMB 20 million, Decided to carry out a 20-year imprisonment and impose a confiscation of 20 million yuan of personal property . ”

Because of her own private thoughts, the female president who was once in power will spend the next twenty years of her long life with Tie Lao Han Chuang.

This article is an exclusive manuscript from Observer.com and may not be reproduced without authorization.

Produced | Sohu Technology

Editor | Zhang Yating

Today is Friday, April 23. Last night and this morning, what major events happened in the science and technology circle, please pay attention to Today’s Science and Technology Morning Post.

Tesla re-issued a post late at night: Willing to be tested by any authoritative testing agency under the witness of three parties

Tesla posted a post on Weibo, announcing the specific progress of communication with related parties. It is reported that on the afternoon of the 22nd, Tesla has sent the sealed paper version of the data to Ms. Zhang by express mail; at 18:00 on the 22nd, it has gone to the Zhengdong New District City Supervision Bureau to receive the notice of ordering rectification.

At the same time, Tesla once again promised that it will unreservedly cooperate with the regulatory authorities to carry out in-depth investigations and openly accept social supervision. With the consent of the customer, government designation or supervision, the three parties will jointly witness and conduct testing at any qualified and authoritative testing organization across the country.

Meituan completes $6.6 billion first-to-new allotment

According to the WeChat official account of “CLSA”, CITIC Securities/CLSA successfully assisted Meituan to complete the US$6.6 billion stock allotment on the 22nd. CITIC Securities/CLSA served as the joint bookrunner in this project.

The former chairman of ZTE’s labor union raised 2.1 billion yuan of funds

Recently, a judgment published by the Judgment Document Network showed that He Momei, the former chairman of the labor union of ZTE Corporation, used his position to receive and transfer funds raised through a large number of private accounts, and used the funds raised to purchase wealth management products, real estate, and sales. Stocks, etc., have raised a total of 2.119 billion yuan and unreturned funds of 899 million yuan.

In the end, He Momei was guilty of fund-raising fraud, embezzlement, and other crimes. The total sentence was 28 years in prison, and 20 million yuan of personal property was confiscated. He decided to execute 20 years in prison and was sentenced to confiscation of personal property of 2000 yuan. Ten thousand yuan.

TSMC’s board of directors approves a US$2.8 billion increase in chip production capacity plan

TSMC, the world’s largest foundry chip manufacturer, confirmed on Thursday that the company’s board of directors has approved a $2.89 billion expenditure to increase chip production capacity. This move is seen as a response to the global chip supply shortage, and the crisis of chip shortage has a particularly serious impact on automakers.

In a brief statement, TSMC stated that its board of directors has approved the expenditure, “the purpose is to launch mature process capacity.” However, the company did not give a detailed explanation.

Apple and Google attended antitrust hearing, sued by app developers

According to foreign media reports, on the 21st local time in the United States, the US Senate Subcommittee on Competition Policy, Antitrust and Consumer Rights convened executives from companies including Apple, Google, and Spotify to hold an antitrust hearing on Apple and Google’s app stores. Question whether it abuses its dominant market position.

This hearing is also part of the antitrust review of large technology companies by the U.S. Congress. Most of the complaints from app developers are directed against Apple, because Apple’s closed ecosystem prohibits apps on iOS from being installed anywhere outside of Apple’s App Store; the complaints against Google are mainly focused on its search and advertising business.

App developers expressed throughout the conference that the two companies can deal a heavy blow to their businesses by adjusting the rules of the app store. They also complained about the high fees for in-app purchases and the ambiguity of platform rules.

SMIC intends to sell a holding subsidiary for US$397 million

SMIC issued an announcement stating that the company intends to sell all the equity interests in its holding subsidiary SJ Semiconductor Corporation, with a total transaction consideration of approximately US$397 million. The transaction parties include CICC SAIC Emerging Industry Fund, Suzhou Yuanhe Houwang and Suzhou Puhuachuang Yu etc.

Tesla releases data for 1 minute before the brake accident of Zhengzhou car owners

Tesla provided data from one minute before the vehicle accident and provided a text description. The full text of the text description is as follows:

When the driver stepped on the brake pedal for the last time, the data showed that the speed of the vehicle was 118.5 kilometers per hour. Within 2.7 seconds after the driver stepped on the brake pedal, the maximum brake master cylinder pressure was only 45.9 bar. After that, the driver increased the stepping on the brake pedal, and the brake master cylinder pressure reached 92.7 bar. The front collision warning and automatic emergency braking function were activated (the maximum brake master cylinder pressure reached 140.7bar) and played a role, reducing the amplitude of the collision. 1.8 seconds after the ABS was applied, the system recorded the occurrence of the collision. After the driver stepped on the brake pedal, the vehicle speed continued to decrease, and before the collision, the vehicle speed was reduced to 48.5 kilometers per hour.

To sum up, the vehicle is running at a higher speed, and the driver starts to depress the brake pedal with less force. After that, the automatic emergency braking function is activated and takes effect, increasing the braking force and reducing the impact of the collision. The driving system is normally involved in the work and reduces the speed of the car.

In addition, with regard to the condition of the vehicle 30 minutes before the accident, Tesla stated this: In the 30 minutes before the accident, the driver drove the vehicle normally and had more than 40 records of depressing the brake pedal. The vehicle has repeatedly stopped more than 100 kilometers per hour and stopped repeatedly.

Xiaomi: Car manufacturing has not yet officially started, release in advance hopes to obtain better global resources

At the second WIN·Global Managers Forum and the 5th Anniversary Ceremony of Guests, Xiaomi Group President Wang Xiang said that Xiaomi decided to join the electric vehicle field by relying on its mobile phone and AIoT business’s ability to grow steadily, as well as the ability to pull internal resources. At present, car building has not officially started. The reason for the early announcement is to take into account two factors: one is that there are many rumors in the previous period, in order to make the information disclosure in time to decide the official announcement; the second is to obtain better global resources through early release , And jointly develop Xiaomi cars.

Tesla responds to the resignation of Vice President Tao Lin: rumors

In response to online news that Tesla Vice President Tao Lin took the blame and resigned, Tesla responded: This is a rumor, and Mr. Tao is working normally.

Storm is sentenced to more than 12 million in compensation to iQiyi due to contract disputes

China Judgment Document Network published the first-instance civil judgment on the contract dispute between Beijing iQiyi Technology Co., Ltd. and Baofeng Group Co., Ltd. on April 6. The People’s Court of Haidian District of Beijing made a judgment: The defendant Baofeng Company paid 12 million yuan to the plaintiff’s iqiyi company’s contract and 416,400 yuan for breach of contract for late payment.

According to the judgment, the plaintiff, iQiyi, alleged that on May 28, 2019, it and Baofeng Company signed a “Reconciliation Agreement” through consultation and agreed that before December 15, 2019, Baofeng Company will pay a lump-sum settlement of 12 million yuan. If the payment is overdue, the overdue penalty shall be paid at the rate of 1/10,000 of the total settlement amount for each day overdue. However, Baofeng Company has not paid the amount so far, so it filed a lawsuit in this case.

Defendant Baofeng Company argued that due to business difficulties, our company is temporarily unable to pay; according to the “Settlement Agreement”, the liquidated damages should be calculated from January 15, 2020 instead of December 15, 2019.

Ziguang Guowei’s 2020 revenue is 3.27 billion, and its net profit has increased by 98.74% year-on-year

Ziguang Guoxin Microelectronics Co., Ltd. released its 2020 annual report. During the reporting period, operating income was 3,270,255,200 yuan, a decrease of 4.67% from the same period of the previous year. After deducting the impact of changes in the scope of consolidation, the same caliber increased by 26.38%; net profit attributable to shareholders of listed companies was 806,422,900 yuan, an increase from the same period last year 98.74%.

Among them, the integrated circuit business realized an operating income of RMB 3,046,840,400, accounting for 93.17% of the company’s operating income, and the electronic component business realized an operating income of RMB 196,829,600, accounting for 6.02% of the company’s operating income.

As of December 31, 2020, the company’s total assets were RMB 7,627,730,800, a year-on-year increase of 19.20%; the owner’s equity attributable to shareholders of listed companies was RMB 4,962,143,300, a year-on-year increase of 18.48%.

Apple CEO Cook: M1 chip version of Mac computers has sold more than Intel version

At the Apple 2021 spring conference, Apple CEO Tim Cook said that the sales of Mac computers equipped with Apple’s self-developed chip M1 have surpassed those equipped with Intel processors.

Cook also said that although it was only released in November last year, the sales of Mac computers equipped with the M1 chip now account for most of its Mac sales.

Earlier, Apple disclosed in its financial report for the first quarter of 2021 that in the quarter, sales of its Mac computers increased by 21% year-on-year. Although the company no longer shares the details of hardware sales, IDC data shows that the company shipped approximately 6.7 million Mac computers in the first quarter of 2021, a year-on-year increase of 115.5%.

Xiaomi was enforced by the court, and the subject matter was 32310 yuan

According to the Tianyan Check App, Xiaomi Technology Co., Ltd. recently added a piece of information about the person subject to enforcement, case number (2021) Jing 0108 Zhi 10164, the subject of enforcement is 32310 yuan, the enforcement court is the People’s Court of Haidian District, Beijing, and the related case is The copyright dispute between Xiaomi Technology Co., Ltd. and China Music Copyright Association.

GSX announced that it will be renamed Gaotu Group, and the listing name will also be updated simultaneously

GSX announced that it will be renamed Gaotu Group, and the listing name and code will also be updated simultaneously. Previously, Gaotu Classroom was one of GSX’s brands.

At the business level, the K12 business brand is still “Gaotu Classroom”, and the adult online brand is renamed “Gaotu College”, from elementary school to university adult.

At the same time, Gaotu Classroom announced the release of a new generation of online education products, and began to explore “local online courses” to realize online courses localization, localized enrollment, localized services, local high-quality teachers, in order to continue to improve online education products, teaching and services .

In addition, Gaotu College for online learning for adults currently has a number of online courses in the fields of language training, financial education, public examinations, business management, study abroad, and study promotion.

Chanel loses a trademark dispute with Huawei, the court: the signs of the two sides are different in the direction of the semicircle, there is a difference in visual difference

Recently, Caijing Life was informed by the BBC that the French luxury brand Chanel had lost a trademark dispute with Huawei.

It is understood that this dispute began in 2017, when Huawei applied to the trademark agency the European Union Intellectual Property Office (EUIPO) for approval to register its computer hardware trademark, which is composed of two vertical semicircles intersecting.

Chanel objected to this, saying the design was similar to its “double C” trademark. Since then, the Trademark Office rejected Chanel’s objections in 2019, saying that there are no similarities and it is unlikely to cause confusion in the public mind.

Subsequently, Chanel again challenged this ruling in the Luxembourg court. The court rejected its appeal in Wednesday’s ruling and stated that the two signs have different semicircular directions and visually significant differences.

The scene of the Conference of learning, grasping and propagating 10 working programs of Hanoi City Party Committee, term XVII On April 23, the conference of learning, grasping and propaganda of 10 working programs of Hanoi City Party Committee, term XVII (term 2020-2025) organized by the Standing Committee of Hanoi City Party Committee continued the program with information of Deputy Secretary of the City Party Committee, Chairman of the City People’s Council Nguyen Ngoc Tuan about 2 working programs No. 03-CTr / TU, 08-CTr / TU. The conference was chaired by Member of the Party Central Committee, Standing Deputy Secretary of the Party Committee Nguyen Thi Tuyen; Member of the Party Central Committee, Deputy Secretary of the City Party Committee, Chairman of People’s Committee of Chu Ngoc Anh city; City Party Committee Deputy Secretary, City People’s Council Chairman Nguyen Ngoc Tuan; Deputy Secretary of the Party Committee Nguyen Van Phong. Attending the meeting were members of the Standing Committee of the City Party Committee; Standing Committee of Fatherland Front City, Head of Party Committee of City Party Committee; Standing City People’s Council, People’s Committee; Member member; Party Committee leaders of districts, towns, party committees directly under City Party Committee, Party Committee of communes, wards and townships; city ​​reporter … The conference was connected to 611 bridge points with a total of more than 35,000 officials at all levels attended. Information about Program No. 03-CTr / TU on “Urban embellishment, urban development and urban economy in Hanoi in the period of 2021-2025”, Deputy Secretary of the City Party Committee, Chairman of the City People’s Council Nguyen Ngoc Tuan said that urban development is a harmonious development between economy, environment and society; towards the end goal is the life of more affluent urban residents, and a happier and more comfortable life. Therefore, the Central Executive Committee issued Decision No. 03-QD / TU dated April 5, 2021 on the establishment of the Steering Committee to build the Urbanization, Urban Development and Economic Development Project. Vietnam’s urban area to 2030, with a vision to 2050 led by the Head of the Central Economic Commission, shows the role and importance of urban development and urban economy in the current period. . City Council Chairman Nguyen Ngoc Tuan thoroughly grasp 2 working programs No. 03-CTr / TU, 08-CTr / TU Assessing the results achieved in the urban embellishment of the past term, according to the Chairman of the City People’s Council Nguyen Ngoc Tuan, in the 2016-2020 period, Hanoi focuses on urban development towards a sustainable, urban Smart city at the same time with the renovation and embellishment of the old urban area, the old town area. The rate of urbanization reaches 49.2%, the appearance of the Capital has many changes. In addition, Hanoi has developed a synchronous framework of transport infrastructure, urban railway connecting the city inter-region and urban areas; completing the program of planting 1 million trees 2 years in advance and planting 600,000 more trees; pay attention to social housing development, complete and renovate a number of old apartment buildings; statistics, review and development of regulations on management of typical architectural works, villas to preserve and promote cultural and historical heritages … Chairman of the City People’s Council Nguyen Ngoc Tuan also stated that the Program’s objectives, targets, tasks and solutions must be implemented in the period of 2021-2025: Urban development associated with industrialization and modernization. towards sustainable, smart, green growth and climate change adaptation, synchronously with the renovation, embellishment and modernization of the old urban center. The process of urbanization must be associated with the construction and implementation of solutions to promote urban economic development, control population, ensure effective land use … The scene of the Conference of learning, grasping and propagating 10 working programs of Hanoi City Party Committee, term XVII Emphasizing 19 key targets to 2025, 6 tasks and 6 key solutions to implement the program in the period 2021-2025, Chairman of the City People’s Council Nguyen Ngoc Tuan said, will make the most of advantages. urban for urban economic development; enhance the application of science – technology in urban embellishment, urban development and urban economy … towards the goal of urban development in association with industrialization and modernization in a sustainable direction. Next, Chairman of the City People’s Council Nguyen Ngoc Tuan has thoroughly grasped the content of Program No. 08-CTr / TU on “Developing a social security system, improving social welfare, and the quality of life of Thu people. capital for the period 2021-2025 ”. According to the Chairman of the City People’s Council, this is a new program of this term, with the overall aim of harmoniously and effectively settling economic growth with social development and social governance. Develop a comprehensive, inclusive and sustainable social security system, constantly improve social welfare, the quality of life of the people of the capital, reduce the difference in living standards between urban and rural areas, to achieve many higher than national standards, contributing to building a city with rapid, sustainable and progressive development. In addition, Chairman of the City People’s Council Nguyen Ngoc Tuan also focused on thoroughly grasping, analyzing 3 requirements, 6 main tasks of developing a social security system, 6 main tasks of improving social welfare. Association, the quality of people’s life together with 5 key solutions to effectively implement the Program No. 08-CTr / TU aiming to improve the quality of life of the people of the Capital.

6G technology will appear around 2030 Mr. Eric Xu also noted that Huawei is currently working to determine the key specifications of 6G technology, and the company may soon release a white paper on 6G. “We are working with other players in the mobile industry to determine what 6G really is,” added Mr. Eric Xu. Maybe in the near future, we will release our 6G white paper “. Mr. Eric Xu stated that the future development of 6G will depend on potential use cases that need the support of this technology. “If Huawei or the global industry has limited imagination and if we can’t come up with a compelling use case for 6G, then maybe 6G won’t be necessary. If all the use cases for 6G that the industry will come up with could be supported by 5G or 5.5G then we wouldn’t need 6G. Then we may need to wait for our next generation, who might be smarter than us and have different needs. They may come up with some use cases that only 6G can handle. That will be where 6G can find its value… ”, analyzed Eric Xu. In preparation for the next generation of mobile technology, the Chinese government has begun researching 6G technology. According to Chinese state media reports, government agencies and research institutes had initial meetings with the aim of establishing research and development groups. 6G technology National level. China’s Ministry of Science and Technology said it would set up two working groups to carry out 6G research activities. Meanwhile, earlier this week, the German government said it plans to finance up to 700 million euros ($ 833 million) for research on 6G technologies by 2025. In a statement, the Ministry of Education Education and Research The German Federation (BMBF) said it started Germany’s first research initiative on 6G technology this week. Besides China and Germany, many other countries in the world have also planned and invested in the research and development of 6G technology such as the US, Korea, Japan, France and Finland. Phan Van Hoa (from Rcrwireless)

The program offers 26 promising rice varieties for farmers to choose Most of the varieties selected are adapted to climate change After visiting the fields, the program interviewed farmers to know how they chose rice varieties Farmers answered the questions of the program The characteristics of promising rice varieties are hard, high yield, good quality rice, meeting export demand This is a cooperation program between Can Tho University and An Giang province in the current period. This cooperation aims to help 224 seed groups in the province, select and create promising rice varieties, and then the program supports farmers to do the following procedures, proposing to the Ministry of Agriculture and Rural Development. receiving nationwide circulation. The program gave 26 promising rice varieties for farmers to choose. Accordingly, the majority of farmers choose rice varieties 1,2, 9 and 26. On the basis of the evaluation of promising rice varieties, the institute will do the following procedures to support farmers to carry out the manual procedures. received nationwide circulation and named new rice varieties.

Author: Cheng Connaught Editor: small sister city

“Chinese Partners” said, “Don’t partner with a good friend to start a company.” It seems that entrepreneurial partners can only work together but not share sufferings.

16 years ago, they started a company in partnership; 16 years later, he was kicked out by himself. Even business partners who have been in partnership for many years are never reluctant to fight inwardly.

In more than 500 days, the founder Gong Dou was staged twice within the company, and the chairman and the president dismissed each other. The stock price has fallen all the way, and the cumulative decline has even exceeded 90%.

This company is known as Xunyou Technology, which provides acceleration services for Tencent’s “League of Legends”.

In 2015, Xunyou Technology successfully went public under the aura of “the first share of online game accelerator”. At the beginning of its listing, the stock price once crushed Moutai and became the veritable “strongest demon stock” that year.

On April 9th, at the extraordinary shareholders meeting of Xunyou Technology, the board of directors simultaneously carried out a proposal for the removal of directors from chairman Zhang Jianwei and president Yuan Xu. In the end, Chairman Zhang Jianwei was dismissed with a very high number of votes, and President Yuan Xu smoothly stayed on. At this point, Zhang Jianwei was completely out of this infighting!

▲Voting at the general meeting of shareholders

As the founder of the company, why is Zhang Jianwei so unpopular?

Zhang Jianwei founded Xunyou Technology’s predecessor-Lanyue Technology in 2005 as the founder.

Under his management, the company’s stock price soared by 567% in the early days of listing. As high as 297.3 yuan/share, it beat Maotai at that time.

But now, with the gradual passing of the end game era, the popularization of 4G and 5G technologies, the improvement of network facilities, and the improvement of game manufacturers’ own operation and maintenance capabilities, players’ demand for accelerators is gradually decreasing. The competition of major manufacturers such as NetEase UU accelerator and Tencent online game accelerator has made market competition increasingly fierce. Xunyou Technology has experienced skyrocketing and plummeting. For now, its stock price is 168 times different from Kweichow Moutai.

The stock price plummeted and the continuous losses were the responsibility of the management. Chairman Zhang Jianwei became the target of public criticism. Therefore, in more than 500 days, Zhang Jianwei was asked to be removed from the chairmanship twice.

Summarizing the reasons for the two recalls, it was because other directors and shareholders of the company believed that Zhang Jianwei lacked a sensitive understanding of industry changes and an understanding of the company’s development strategy and other directions in the process of transforming from traditional interconnection to mobile and intelligent interconnection. explore.

The official sentence of Zhang Jianwei’s evaluation is very harsh. He is like a programmer over 35 years old. He has gone through a golden age, but he has been left behind by the era of rapid renewal. If you move forward, you will be disgusted; if you stop, you will be abandoned.

But about Zhang Jianwei’s “out”, some people think: in the final analysis, this is a struggle of people’s hearts. Everything on the board of directors is for the good “coat” of the company, and it is flooded with power and interests! And Zhang Jianwei is just the loser.

Is the former founder and chairman of the glorious period abandoned by the times or lost to the hearts of the people?

Disclaimer

This article relates to the content of listed companies. It is the author’s personal analysis and judgment based on the information publicly disclosed by listed companies in accordance with their legal obligations (including but not limited to temporary announcements, periodic reports, and official interactive platforms, etc.); the information or opinions in the article are not It constitutes any investment or other business advice, and Market Value Watch does not assume any responsibility for any actions resulting from the adoption of this article.

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Comrade Pham Van Hieu gave the decision to the officials. Photo: ANH DUNG

According to the decisions, the Member of the Party Committee decided, Comrade Le Thi Suong Mai, Member of the Standing Committee, Deputy Head of the Standing Committee of the Party Committee for Propaganda of the City Party Committee, now resigns from the position of Deputy Head of the Standing Committee of the Party’s Propaganda Department, to change work on the city Labor Confederation. Assigned the Party of the City Labor Confederation to lead the introduction of comrade Le Thi Suong Mai to elect the Chairman of the city Labor Confederation for the term 2018-2023. The Member of the Party Committee decided that Mr. Tran Van Tam, member of the Party Committee, Secretary of the Party Union, Chairman of the City Labor Confederation, now resigns from the position of Secretary of the Party Union, Chairman of the City Labor Confederation for the 2018-2023 term, to change his job. to Vinh Thanh District Party Committee, join the Executive Board, the Supervisory Board and hold the position of Secretary of Vinh Thanh District Party Committee, term 2020-2025.

Speaking at the decision announcement ceremony, comrade Pham Van Hieu acknowledged and highly appreciated the efforts and growth of comrade Le Thi Suong Mai and comrade Tran Van Tam. Through many working positions, the comrades performed well their assigned tasks, trusted and trusted by the collective and cadres, civil servants and public employees. Comrade Pham Van Hieu wished, in the new position, comrade Le Thi Suong Mai and comrade Tran Van Tam continue to strive with the collective agencies and units to well perform the assigned tasks. At the same time, it is requested that the Party Youth Union, the Board of Supervisors, the Executive Committee of the City Labor Confederation and the District Party Committee, the Executive Committee of the Vinh Thanh District Party Committee create the best conditions for comrades Le Thi Suong Mai and Tran Van Tam to successfully complete their tasks.

Mr. Nguyen Duc Trung – Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People’s Committee received Pham Hong Son citizen (resident of hamlet 5, Nghi Kim commune, Vinh city), representing 23 households to propose to the authority for consideration. Compensation price when the State recovers land to implement the project of division of residential land in hamlet 11, Nghi Kim commune.

Overview of the April 2021 periodical meeting of the Chairman of the Provincial People’s Committee Nguyen Duc Trung. Photo: Pham Bang

Mr. Tran Ngoc Tu – City People’s Committee Chairman. Vinh said, the project has been implemented since November 2020 and so far has fully implemented legal procedures. The total area of ​​land acquired for the project is more than 23,000 m2 of agricultural land, with 23 households having land acquired, this area is within the decision-making authority of the Provincial People’s Council.

TP. Vinh has publicly announced the draft compensation plan for site clearance at the CPC headquarters from January 14, 2021 to February 3, 2021. Accordingly, the total level of compensation and support is 340,000 VND / m2 and up to now there are 7 households agreeing, 1 household has no opinion, 15 households have not agreed.

Mr. Tran Ngoc Tu – City People’s Committee Chairman. Vinh reports on the results of resolving the proposed citizen’s content. Photo: Pham Bang

“TP. Vinh explained to the people, the land acquisition is done by the State, the compensation price is regulated by the State, not by the recovery of the enterprise, so it is impossible to use the enterprise’s price to apply the compensation price. for the people ”, Mr. Tu affirmed and hoped that the people would agree and support the policies of the Party and the State for the common development goals of the city. Vinh.

At the meeting, Mr. Hoang Quoc Viet – Director of the Department of Natural Resources and Environment explained the policy of applying compensation for site clearance for projects when the State acquired land for citizens to understand and add more information, the province has studied , applying mechanisms and policies to further support people.

Mr. Hoang Quoc Viet – Director of Department of Natural Resources and Environment spoke. Photo: Pham Bang

Concluding this content, Chairman of the Provincial People’s Committee Nguyen Duc Trung shared with people’s thoughts and affirmed that the government will ensure full legitimate rights of citizens according to regulations. Up to this point, TP. Vinh is implementing properly and fully regulations of the authorities on compensation plan for site clearance.

Chairman of the Provincial People’s Committee assigned the City People’s Committee. Vinh continued to propagate and publicize the plan of compensation and support at the headquarters of the People’s Committee of Nghi Kim commune for households to know and implement for the city’s common development goals. Vinh and province. Department of Natural Resources and Environment, Department of Finance according to their functions and tasks of reviewing documents, guiding the City People’s Committee. Vinh made a plan of compensation and support for 23 households in accordance with regulations.

Mr. Nguyen Duc Trung – Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People’s Committee concluded at the citizen reception session. Photo: Pham Bang

Next, Chairman of the Provincial People’s Committee Nguyen Duc Trung also received citizen Le Doan Chuong (residing in Hung Dung ward, Vinh city), reflecting that Mr. Nguyen Van Mai’s family built illegal fences and kiosks on the area. planned land area of ​​8/3 foodstuff stores.

City People’s Committee Chairman. Vinh affirmed, Mr. Chuong’s reflection on Mr. Mai’s family’s encroachment on his family’s land is completely correct. City People’s Committee. Vinh assigned Hung Dung ward to mobilize Mr. Mai’s family to dismantle and now dismantle it.

Citizen Le Doan Chuan presents the content to reflect. Photo: Pham Bang

Commenting on this content, Chairman of the Provincial People’s Committee Nguyen Duc Trung emphasized that the content of a land dispute between Mr. Le Doan Chuong’s family and Mr. Nguyen Van Mai’s family was approved by the City People’s Committee. Vinh and the Provincial People’s Committee handled the correct legal regulations. Therefore, it is recommended that citizens abide by the settlement results of the competent authorities.

For the content Chuong citizens denounce Mr. Nguyen Van Mai’s family to build works to encroach on public land, even though the City People’s Committee. Vinh checked and answered the citizen but the citizen disagreed. Therefore, the Chairman of the Provincial People’s Committee assigned the Department of Construction to preside over and coordinate with the Department of Natural Resources and Environment to inspect the scene, planning documents, determine landmarks, relevant boundaries to conclude the content of the denunciation. Citizens according to regulations, report to the Chairman of the Provincial People’s Committee before May 31, 2021.