He Yan, a mysterious billionaire, appeared: she had a family of 2.8 billion and was trapped in infighting after she was released from prison.

 He Yan, a mysterious billionaire, appeared: she had a family of 2.8 billion and was trapped in infighting after she was released from prison.

Low-key and mysterious were labels given by the outside world to He Yan, the actual controller of Zhenxin Technology (formerly Guoteng Electronics) of Sichuans wealthy women and A-share listed companies.

Since July 2013, when she was taken away for investigation, and October 2016, when the listed company announced that she had been sentenced, there has been little outside information about her. Recently, the media have revealed that He Yan has re-emerged from the rivers and lakes, but they all use the name why.

In fact, as early as last year, he Yan quietly returned and frequently attended the related activities of his company. However, her relationship with the companys most important asset, Vibrant Core Technology, is rather delicate:

On the one hand, several senior executives of Zhenxin Technologies have requested the dissolution of Chengdu Guoteng Electronics Group Co., Ltd. (hereinafter referred to as Guoteng Electronics Group, He Yans 51%) as the controlling shareholder of the company. The reason is that He Yans personal condition has affected the companys operation. After the first trial, He Yan has appealed. On the other hand, after the comeback, He Yan had little contact with Zhenxin Science and Technology.

On December 18, Zhenxin Technology said, In recent years, Ms. He Yan has not been to the company, nor has she had any contact with the company.

As the founder of He Yan, why the relationship with the listed companies under his flag is cold? What is the story behind it?

Mysterious Rich Women Appear

He Yan, a 57-year-old mysterious wealthy woman from Sichuan Province, has come back to the fore after her investigation in 2013.

He Yan, once known as mysterious woman rich and beautiful woman rich: mysterious, because of its low-key, less media interviews, but insiders of the company also said that it likes racing.

He Yan started his business in the 1990s, from the first IC telephone manufacturer in China to running a university, then to the field of satellite communications, and led Guoteng Electronics to realize the GEM listing on the top of its Satellite Navigation First Share in 2010.

Why does successful entrepreneurship bring great material wealth to Yan? In 2001, He Yan, in the name of Why, made the Forbes China Rich List for the first time, ranking 82nd, with personal assets of about $70 million. In 2006, He Yan was named the richest IT man in Sichuan on Huruns 100 Rich List. In 2016, Ho Yan ranked as the richest man with a fortune of 2.8 billion yuan.

However, in July 2013, He Yan was investigated by the public security organs for his personal suspicion of illegal business operations. In January 2014, He Yan was arrested by the Procuratorate on suspicion of embezzlement of funds.

In October 2016, Zhenxin Technology disclosed that He Yan, the actual controller of the company, was sentenced to five yearsimprisonment and a fine of RMB 300,000 for misappropriating funds and falsely Invoicing invoices.

Since then, He Yan has almost disappeared, including the announcement of Zhenxin Science and Technology, and only sporadic information was mentioned. Until recently, He Yan, who appeared frequently in the name of What and as What is the founder of Guoteng Group, was again concerned by the outside world.

N + financial reporters found that He Yan returned from prison or more than a year ago.

Guoteng Group, founded by He Yan, has two major groups, Guoteng Industry and Guoteng Electronics, Chengdu College of Electronic Science University and Chengdu Software Technology College. In the news on the official website of Chengdu College of Electronic Science and Technology (hereinafter referred to as Chengdu College of Electrical Science and Technology), the founder of Guoteng Group and Chengdu College of Electronic Science and Technology University have appeared in the activities of the College several times since this year.

Photo Source: Official Website Screen of Chengdu College, University of Electronic Science and Technology

Earlier news came from the public number of Guoteng Group in July 2017: In January 2017, Guoteng Group held a New Year delegation visit in 2017, with the participation of Ms. He Ran, Chairman of the Board of Directors of Guoteng Group. That is to say, as early as early as the beginning of 2017, he has begun to attend internal activities.

He Yans quiet return can also be confirmed from another side. In February 2017, Zhenxin Technologies disclosed that He Yan responded to the situation of Shenzhen Stock Exchange GEMs management department about whether it had been re-investigated by the public security organs. The reply with He Yans signature said, No public security organ contacted me and investigated me.

Photo Source: Screenshot of Zhenxin Science and Technology Bulletin

An insider of Guoteng Group told N + financial reporters that he saw He Yans public appearance in the second half of last year, and he attended related activities of Chengdu College of Electrical Science.

Listed companies want to get rid of negative impact

Zhenxin Technologies is located in Chengdu, and has been listed as the first share of satellite navigation. Its main business is to provide products and services around the Beidou satellite navigation industry chain. It is one of the main assets of He Yan. Up to now, He Yan indirectly holds the shares of Zhenxin Science and Technology, with a market value of about 1 billion yuan, which is quite valuable.

However, as a real controller, He Yan has a delicate relationship with listed companies, which makes people unable to understand.

In February 2018, Chairman Mo Xiaoyu, Director and General Manager Xie Jun, Director Xu Jin and Director Berger of Zhenxin Science and Technology filed a lawsuit in court to request the dissolution of Guoteng Electronics Group. Mo Xiaoyu and four other shareholders are also shareholders of Guoteng Electronics Group, holding a total of 49% of the shares, the remaining 51% of the shares why Yan owned.

In April 2018, Zhenxin Technology said:

In recent years, the operation and development of Guoteng Electronics Group has encountered substantive obstacles. Through various forms of discussions among its shareholders, it has been unable to reach an effective and implementable solution. The basis of cooperation between shareholders has been lost, and the operation and management of Guoteng Electronics Group has reached a deadlock.

Mo Xiaoyu also explained to the media in October this year, This is not a controversy over the control rights of listed companies, its sole purpose is to get rid of difficulties and save enterprises. We have been communicating with He Yan for nearly two years before, and we have been unable to reach an agreement. We can only rely on litigation.

In Mo Xiaoyus view, after He Yans arrest and sentencing, the ownership of Guoteng Electronics Group has been frozen several times by the judicial authorities. This also drags Guoteng Electronics Group and its affiliated enterprises into a huge whirlpool. Zhenxin Technologys important customers and partners are afraid or unwilling to cooperate with the company for fear of being affected. Some customers stop purchasing the companys products because they are afraid that the company will not survive. The relevant organizations also question the companys relevant business qualifications. The refinancing audit of Zhenxin Technology in 2016 was also terminated, and many important industrial projects of the company were forced to stagnate.

In September this year, the courts first instance decision supported the lawsuit request of Mo Xiaoyu and other plaintiffs, and said that the plaintiffs request for dissolution met the requirements of Article 182 of the Company Law. Therefore, the court ruled: dissolve the defendant Chengdu Guoteng Electronics Group Co., Ltd.

The correspondent notes that Article 182 of the Company Law corresponds to the following: If serious difficulties arise in the operation and management of a company and the interests of shareholders will suffer great losses if the company continues to exist, those shareholders who hold more than 10% of the voting rights of all shareholders of the company can request the peoples court to dissolve the company if they can not be solved by other means.

In this regard, He Yan refused to accept the results of the first trial and has appealed, waiting for the second trial.

Mo Xiaoyu said that if the second trial wins, the Zhenxin Technology Share held by Guoteng Electronics Group will be split into natural shareholders directly. At that time, the companys equity will be relatively dispersed, and it will have the legal basis to identify as no actual controller, which will fundamentally reduce the risk that shareholderspersonal problems will damage the companys development.

On the other hand, the development of Listed Companies in recent years has been unsatisfactory, or has intensified the determination of the board of directors and senior management of Zhenxin Science and Technology to try to change. From 2015 to 2017, Zhenxin Technologys revenue ranged from 400 million yuan to 500 million yuan, and its profit fell from 78.27 million yuan in 2015 to only 30 million yuan in 2017.

Regarding the return of He Yan, Zhenxin Science and Technology stakeholders told N + financial reporters, In recent years, Ms. He Yan has not been to the company, nor has she had any contact with the company. The person said that Ms. He Yan had been sentenced and punished before, and the company has disclosed the relevant information disclosure rules of listed companies on the GEM.

Focus shifts to the field of Education

Although he is the real controller of Zhenxin Science and Technology, it is doubtful whether He Yan really controls the listed companies.

Reporters noted that in the previous reply in February 2017, He Yan said, I also hope that Zhenxin Science and Technology can take effective measures to ensure that I as the actual controller of the companys right to know the operation and management of listed companies and other legitimate rights to exercise.

According to people familiar with the situation, He Yan has never actually participated in the operation of listed companies.

Regarding the lawsuit of Guoteng Electronics Group in which He Yan was involved, on December 17, an insider of Guoteng Group told N + financial reporters that it was not convenient to disclose the lawsuit.

At present, He Yans attendance is mostly related to education. Is the focus of his future career shifting to the field of education?

Guoteng Group said that the interim plan is like this, but the company will not give up the development in the high-tech field, the future will develop on both sides at the same time, Guoteng still has advantages in the high-tech field.

Shifang Campus of Chengdu University of Electricity, which has just laid the foundation, is invested by Guoteng Industry. Chengdu College of Electrical Engineering is an independent college sponsored by University of Electronic Science and Technology and invested by Guoteng Industry. He Yulin, the chairman of Guoteng Industrial Co., Ltd., is also the chairman of Chengdu College of Electrical Science. Why is his daughter Yan?

In this regard, a person from Guoteng Group System told N + financial reporters that Chengdu College of Electrical Engineering is generally quite good in all parts of the group, with more than 17,000 students at present. This year, the College has also recruited some scholars who have returned from abroad. Qualified people hold the posts of principal heads of departments and other posts. But in recent years, compared with other independent colleges, the hardware conditions of the college are not so good.

Source: Daily Economic News Responsible Editor: Shi Jianlei_NBJ11331