Hengkang Medicals senior personnel is changing frequently. On April 8, the company disclosed that three directors resigned at the same time. Two of them had just been approved as directors by the shareholdersmeeting held on March 18, and the other one had been approved as directors three months ago. Behind such drastic personnel changes, there are twists and turns in the change of controlling rights of Hengkang Medical Company. On March 30, the company announced that the actual controller, Hao Wenbin, terminated the transfer of shares of the company. Kuan Wenbin is also the actual controller of the western resources. He is also transferring the controlling rights of the western resources. This transaction was also terminated recently. According to the disclosed information, the debt owed by Hao Wenbin and his company amounts to 5 billion yuan in principal alone.
The ID number shows that he is a native of Chengdu, and the name he is often referred to is the richest man in Gansu. He discovered the Tibetan medicine Unique Taste, and formed his own unique martial arts, promoting the listing of Unique Taste (002219.SZ, has been renamed Hengkang Medical Treatment). With this company registered in Gansu, he has been on the list of the richest people many times, and once became the richest man in Gansu. In fact, before that, he had already walked in the capital market, seized the opportunity of non-tradable shares reform, in 2006, only 36.3 million yuan to acquire Mianyang Gaoxin (600139.SH, has been renamed as Western Resources) control of listed companies.
Abandoning the controlling rights of two listed companies only solves the problem of debt relief
In 2018, the controlling shareholders of many A-share listed companies appeared the problem of capital shortage or even the breakdown of capital chain, which led to a large number of cases of share transfer or even the change of control rights. In a short time, a group of private capital families collapsed, and some bosses are still trapped in debt mud and unable to escape, including Que Wenbin.
Although he never gives interviews to media reporters, his two listed companies have flourished in various fields in recent years, and the billionaire and billionaire acquisitions have been disclosed continuously, attracting many investorsattention and their wallets. But the wind has changed. On March 21 and 30 this year, two listed companies continuously disclosed the termination of Hao Wenbins shell sales.
On the morning of April 9, 1.5 million shares of Hangkang Medical Stock under the name of Hanwenbin were auctioned by the First Intermediate Peoples Court of Beijing, which was only a small sum under his name. At present, all his holdings in the two listed companies are in a waiting freeze.
On November 9, 2017, Western Resources disclosed that its controlling shareholder, Sichuan Hengkang Development Co., Ltd. (hereinafter referred to as Sichuan Hengkang), held 33866,000 shares of Western Resources Stocks, which were frozen by the Peoples Court of Xiacheng District of Hangzhou City on November 1, 2018. Sichuan Hengkang is owned by Que Wenbin, with a share-holding ratio of 99.955%. Although Kuan Wenbin immediately reached a mediation agreement with creditors, which made the freeze invisible on November 23, the lid could not be covered.
Almost the same period, on November 20, 2018, Hengkang Medical disclosed that the controlling shareholder and the actual controller, Hao Wenbin, had a debit dispute of 86.24 million yuan with Wu Jian and Yu Jinjing, and his 794 million shares of Hengkang Medical Stock were frozen by the court. To make matters worse, financial institutions began to struggle, and Hualong Securities took the lead in applying to the court for the freezing of part of Kuan Wenbins shareholding. He owns 42.57% of Hengkang Medical Company.
Regarding the sudden change of western resources and Hengkang Medical, the response of the secondary market is not consistent. After all, the two companies have been making great strides in cross-border acquisitions in recent years, and the momentum of development seems to be always at a pace of thousands of miles. After the announcement of the news, the resources in Western China did not show the usual sharp decline in other stocks, but fluctuated sharply. The ups and downs were intertwined and the turnover was enlarged, which indicated that investors were in a conflicting state of mind in judging the situation of resources in Western China. Hengkang Medical Company, on the other hand, started its suspension on October 30, 2017 as early as possible because it planned to acquire major assets.
After the first frozen news appeared, investors still took chances to provide financing for Hao Wenbin. On January 31, 2018, Sichuan Hengkang pledged 45 million shares of western resources to natural person Niu Yonghua in exchange for loans. And Sichuan Hengkang declared: With the corresponding ability to repay funds, there is no risk that can be triggered for the time being.
Two financial institutions from Sichuan Province extended Mr. Kuans debt. From January 2018 to February 2019, Hengkang Medical disclosed four announcements on the extension of share pledge by controlling shareholders.
Hongxin Securities extended three times for Kuan Wenbin. The total number of these shares is 87.22 million. The pledge financing transactions between the two sides started in December 2016 and January 2017, respectively, for a period of one year. In early January 2018, after the expiration of the two pledges, Hongxin Securities offered Mr. Kuan three and four monthsextension services, respectively. The duration of the two pledges was synchronously limited to April 30, 2018. However, when this deadline comes, Hongxin Securities extended the maturity date of the release of these shares to January 30, 2019. According to the announcement of February 12, 2019, the above deadline was postponed again until December 12, 2019 and January 16, 2020.
Sichuan Trust delayed the release period from October 12, 2018 to October 17, 2019 for the 18.65 million shares of the Pledged Shares that had expired for Mr. Hanwenbin.
The attitude of Sichuan financial institutions does not apply to financial institutions outside Sichuan Province. Taking Hengkang Medical Company as an example, up to now, Hao Wenbins 794 million shares in Hengkang Medical Company have been frozen by eight courts in China. Besides Sichuan Trust and Hongxin Securities, his creditors also include Hualong Securities, Minsheng Securities, Northeast Securities, China International Finance Co., Ltd., Minmetals Securities, Dongguan Securities and Huaxin Securities.
How much debt did he owe and his Sichuan Hengkang by pledging shares? Query the pledge announcements of two listed companies in recent years, the specific amount of financing has not been disclosed. However, on December 12, 2018, Hengkang Medical Company announced in its inquiry letter to Shenzhen Stock Exchange that he pledged the debt of Hengkang Medical Company and the peoples livelihood trust, with a total principal of 5 billion yuan. This amount does not include interest and penalty, nor does it include the debt formed by pledging western resources.
How to pay off debts? After struggling for more than half a year, Hao Wenbin successively offered the solution to the creditors in July and October 2018, namely, the transfer of controlling rights.
Rich people from Shenyang and Henan entered the market
On July 28, 2018, Hunan Longwo Culture and Technology Industry Co., Ltd. (hereinafter referred to as Longwo Culture) obtained 163 million shares of western resources held by Hengkang Sichuan at a price of 4 yuan per share in the secondary market, involving a sum of 650 million yuan, in order to obtain 24.55% of the shares of western resources and become a new controlling shareholder of listed companies, such as If the transfer is realized, Sichuan Hengkang will retire as the second largest shareholder of Western resources.
However, Longwo Culture did not directly pay 650 million yuan to Hengkang, Sichuan. Instead, it settled the debt owed by Hengkang, Sichuan, to Hangzhou and paid the relevant creditors.
Longwo Culture, founded in January 2018, is a very young company, but its actual controller Wang Jingan has worked hard in the fields of jewelry, liquor, tourism, finance, real estate and so on. In 2015, Longwo Culture acquired the controlling right of the new third board public company Zhongzhi Lian (430122.OC). His ID card number shows that he was born in Zhumadian, Henan Province, aged 49.
On October 8, 2018, Hengkang Medical Disclosure, Hao Wenbin signed the Framework Agreement on Share Transfer with Zhang Yufu, a natural person. Zhang Yufu accepted all the debts incurred by Hang Wenbin and Sichuan Hengkang by pledging the shares of Hengkang Medical Co., Ltd. in order to obtain all the shares of Hang Kang Medical Co., Ltd. held by Hao Wenbin. Moreover, there is a prerequisite for the entry into force of this agreement. Zhang Yufu signed a loan agreement with Hengkang Medical Company to provide 80 million yuan of loans to listed companies for a period of one year. It can also be seen that the financial tension of Ke Wenbin and the listed company Hengkang Medical Co.
A month later, there were some changes in the progress of the share transfer mentioned above. Hengkang Medical Companys contactor changed from one to two. On November 22, 2018, the report on the transfer of equity rights and interests officially disclosed that the face of the receiver Zhang Yufu and Yu Lanjun and their way of taking over were clear.
Zhang Yufu and Yu Lanjun are both from Liaoning Province. According to the ID card number, Zhang Yufu was born in Shenyang, 57 years old, and Lanjun was born in Chaoyang, 44 years old. Zhang Yufus enterprises are involved in real estate, petrochemical industry, investment and financing; Yu Lanjun was a senior executive of a steel company in Shenyang, with some trading assets under his name.
Que Wenbin transferred 559 million shares of Hengkang Medical Stock to Zhang Yufu, who undertook the debt principal of Que Wenbin and Sichuan Hengkang of 3.519 billion yuan and the corresponding interest and penalty. He transferred 235 million shares of Hengkang Medical Stock to Lanjun, which undertook the debt principal and the corresponding interest and penalty of 1.483 billion yuan of Qian Wenbin and Sichuan Hengkang.
Zhang Yufu and Yu Lanjun did not sign an agreement on the unanimous actor. After the transfer of the shares mentioned above, Zhang Yufu will become the largest shareholder and actual controller of the listed company. In preparation for this change, some changes have taken place in personnel arrangements. On December 8, 2018, Hengkang Medical announced that the board of directors was replaced. Among the four newly nominated non-independent directors, Song Lihua and Zhang Haoyuan entered the board as representatives of Zhang Yufus shareholders.
Nevertheless, such a clear-cut equity trading deal came to an abrupt halt after months of promotion.
Similar phenomena occur in several A-share companies when the transaction terminates
On March 21, 2019, Western Resources disclosed that due to the freezing of Hengkangs shares for many times, during the implementation of the debt disposal scheme, Longwo Culture and creditors, courts did not reach agreement on debt transfer and judicial transfer, and the stock transfer agreement between Hengkang and Longwo Culture in Sichuan was cancelled by friendly consultation.
On March 30, 2019, Hengkang Medical disclosed that Zhang Yufu and Yu Lanjun had not reached an agreement with creditors and courts on debt transfer and stock transfer in the past six months. In addition, on March 4, the First Intermediate Peoples Court of Beijing issued an auction announcement on five websites, such as Beijing East Net and Taobao Net, announcing that 1.5 million shares of Hangkang Medical Stock under the name of Hanwenbin would be auctioned from 10 a.m. on April 8 to 10 a.m. on April 9, and the debt situation further deteriorated. Que Wenbin believed that Zhang Yufu and Yu Lanjun had violated the relevant agreements on debt acceptance and decided to cancel the share transfer agreement and related documents signed with them.
How does Mr. Hao resolve billions of dollars in debt after successive breaks of the contract to sell control rights? Western Resources said that Sichuan Hengkang will continue to look for strategic partners. Hengkang Medical said that Hao Wenbin will actively consult with creditors to identify strategic partners as soon as possible. Western Resources Securities Department staff told our reporter that the latest progress of shareholder debt should be based on the announcement, no more information to share. Where are the people of Que Wenbin? Usually I cant meet him or know when he will come to the company, because everyone has different routes to work and work. Reporters through Hengkang Medical Check Que Wenbin himself some problems, as of the time of publication did not receive a response.
Kuan Wenbins current trading situation is not a case in point. According to our reporters statistics, a number of companies have recently terminated the transfer of controlling rights transactions.
According to the reporters observation, although there are many variables in the transfer of control rights, a large number of enterprises have recently embarked on the transfer of shares due to the debt problems of controlling shareholders, such as Xingyuan Environment, Ham, Dalian Electric Porcelain, ITU, * ST Insurance, etc.