New Beijing News has experienced the black swan event of New Town Holdings, apparently not out of the clouds.
After a clarification announcement issued late on July 22 confirming that about 40 projects (including joint venture projects) had been negotiated and sold, Xincheng Holdings disclosed the announcement of the transfer of ownership of the project company on the evening of July 24. As of July 24, 2019, the company has signed a total of 10 project companies related to the transfer of equity and creditors rights. The total transaction consideration is about 4153.922 million yuan, accounting for 13.62% of the audited net assets of the company at the end of 2018.
The reporter of Beijing News noticed that the 10 projects were joined by Hangzhou Zhongjun Real Estate Co., Ltd., Zhejiang Baolong Xinghui Enterprise Management Co., Ltd., Jinhua Changren Business Information Consulting Co., Ltd., Zhengzhou Jinke Baijun Real Estate Development Co., Ltd., Renheng Land Investment Management Co., Ltd., and Wuxi Jinke Real Estate Co., Ltd. Production Development Co., Ltd., Jiangyin Jinke Real Estate Development Co., Ltd., Nanjing Baijun Real Estate Development Co., Ltd., Shandong Baijun Real Estate Development Co., Ltd., Zhengzhou Ruihu Real Estate Development Co., Ltd., and Shanghai Junrun Real Estate Development Co., Ltd.
Among them, Jinke shares have indicated in the announcement that the wholly-owned subsidiary intends to purchase equity of six real estate project companies affiliated to Xincheng Holding Group Co., Ltd. at a fair price. After the completion of the transaction, the company will hold 100% equity of six real estate project companies. It is estimated that the total turnover of this transaction will be about 1.721 billion yuan.
It is reported that Nanjing Baijun, Wuxi Jinke, Shandong Baijun, Jiangyin Jinke and Jinke Baijun are all subsidiaries of Jinke.
It is reported that Renheng Land Investment Management (Shanghai) Co., Ltd. signed the Cooperation Agreement with Chuangjia Xincheng, a holding subsidiary of Xincheng Holdings, which intends to transfer 85% of its shares in Changshu New Town with 1 yuan (paid-in registered capital is 0), while Renheng Land Investment Management (Shanghai) Co., Ltd. undertakes Chuangjia Xincheng in 85% proportion. Jiayou borrowed 1276.545 million yuan from shareholders of Changshu New Town.
The main business of Renheng Land Investment Management (Shanghai) Co., Ltd. is entrusted by the investors and the Chinese companies they invest in. It provides investment management and consulting services, fund management and financial management services, marketing services, staff training and management services, technical support and research and development. Services, providing information services.
The legal representative of Renheng Land Investment Management (Shanghai) Co., Ltd. is Zhong Shengjian, with registered capital of US$2 million, and Renheng Land Co., Ltd. holds 100% of its shares. From January to June 2018 and 2019, the business income of Renheng Land Investment Management (Shanghai) Co., Ltd. was 36.6851 million yuan and 16.2108 million yuan respectively, and the net profit was 32.1436 million yuan and 16.8421 million yuan respectively.
By the end of June 2019, Renheng Land Investment Management (Shanghai) Co., Ltd. had total assets of 496,317.26 million yuan and net assets of 328,176 million yuan.
According to Tian Eye Check, Renheng Land Co., Ltd. holds 100% equity in Renheng Land Investment Management (Shanghai) Co., Ltd. and suspects that 87 enterprises have actual control rights, including Renheng Land (Chengdu) Co., Ltd. and Renheng Land (Wuhan) Co., Ltd.
According to the official website, Renheng Land Co., Ltd. is based in China, choosing high-growth, strategic key cities in China to develop high-end fine-decorated residential, commercial and comprehensive property projects; it starts from affluent Shanghai and Nanjing, and develops high-quality residential buildings in high-quality urban areas.
The chairman and President of Renheng Land Group is Zhong Shengjian. According to him, Renheng invested in Pudong in 1993 and entered Nanjing the following year. After Guiyang water test in 2001, Renheng laid out Chengdu. Since 2004, Renheng crossed the Yellow River to the north and settled in Tianjin; reached the coast of the South China Sea to the South and entered Zhuhai and Shenzhen; and added Suzhou to the Yangtze River Delta territory. In this way, the strategic layout of Chinas four major economic regions and eight major central cities will be completed.
Renheng landed on the main board of the Singapore Stock Exchange on June 22, 2006 to realize the connection with the international capital market. A year and a half later, in January 2008, Ren Heng was selected as an index component of Singapore Strait Times and ranked among the most valuable listed companies in Singapore. Zhong Shengjian said.
According to public information, Zhong Shengjian was born on March 3, 1958 and has Singapore nationality. His wife, Zhong Lin Miaojun, was born in the same year as him, and also has Singapore nationality.
In 2008, Zhong Shengjian, born in Guangdong, ranked 32nd with 12.5 billion people and 224 with 15.5 billion people.
New Town Holding Company turned into Wang Xiaosong and his father involved in child molestation has been arrested
According to Tian Eye Check, the legal representative of New Town Holdings has been changed to Wang Xiaosong, who was his father Wang Zhenhua before.
New Town Holdings: 10 projects have been sold and a total of 15 billion cash will be exchanged back
On the evening of July 24, Xincheng Holdings (601155.SH) announced that the company had signed a transaction agreement with Jinke on five items of project transfer, with a total consideration of about 1.765 billion yuan. The transferee includes Zhongjun Group, Baolong Real Estate, Jinke Stock, Renheng Land, Xuhui Holdings, etc.