Fucheng Stock Co., Ltd.: The related parties of the company are cooperating in the investigation of economic cases.

 Fucheng Stock Co., Ltd.: The related parties of the company are cooperating in the investigation of economic cases.

Screenshot of Fucheng Stock Announcement

Fucheng shares said that Fucheng Group is the controlling shareholder of the company. The Fucheng Real Estate and Lianfu Real Estate mentioned in the media reports are subsidiaries of Fucheng Group. They are engaged in real estate development business and are related parties of the company.

Fucheng said that after verification with the companys actual controllers, the relevant parties involved in real estate development business are cooperating with the investigation of tax and economic cases, and there is no further conclusion in the case at present.

According to the announcement, Li Fucheng, the legal representative of Fucheng Group, Fucheng Real Estate and Lianfu Real Estate, currently performs the relevant duties normally. Li Fu has become one of the actual controllers of Fucheng Stock Co., Ltd. and has not currently held the positions of legal representative, director, supervisor and senior management personnel in Fucheng Stock Co.

Fucheng also said that the normal operation of production and operation at present, the previous announcement on the transfer of control rights between controlling shareholders and Overseas Chinese Group, has not made further progress. The company will fulfill its obligation of information disclosure in time according to the progress.

A few days ago, the Financial Associated Press reported that in recent days, the tax authorities were interviewed to verify the rumor that Fucheng Group, the controlling shareholder of Fucheng Stock, and related real estate enterprises are involved in taxation. On September 9, the relevant person in charge of Hebei Tax Bureau responded that the case was currently under investigation led by the Provincial Discipline Commission. At the same time, the relevant personages of Sanhe Tax Bureau also said that the case had a great impact and the State Administration of Taxation had registered there.

The report also said that from January 31 this year, all shares of Lianfu Real Estate were frozen by Hengshui Public Security Bureau.

Li Fucheng, 73, is known as the richest man in Yanjiao and Li Bancheng, and his family ranks ninth on the Hurun Rich List in Hebei, according to the Financial Associated Press. In 1987, he started with seven cows, and was awarded the title of National Cattle Raising Top Prize by the Ministry of Agriculture in 1994; in 2004, Fucheng shares, which are mainly engaged in cattle raising, cattle slaughtering and beef, landed on the Shanghai Stock Exchange; in 2013, Fucheng shares completed the merger and reorganization of Fucheng catering industry; and in 2014, Baota cemetery, which is owned by major shareholders, was merged again. Fucheng shares formed a multi-industry pattern of animal husbandry and slaughter, food processing, catering services and funeral services, and became the first funeral share of A shares. In the same year, Li Fu successfully retired and his son, Li Gaosheng, took over as chairman and general manager. (Sino-Singapore longitude and latitude APP)

Source of this article: Sino-New Zealand Editor-in-Charge: Wang Xiaowu_NF