Hong Kong businessman Li Yapeng 9 years of entrepreneurship dream: Zhengzhou real estate projects or difficult completion as scheduled

category:Finance
 Hong Kong businessman Li Yapeng 9 years of entrepreneurship dream: Zhengzhou real estate projects or difficult completion as scheduled


In Ganzhou, Jiangxi Province, Li Yapeng started his third project layout. On October 15, relevant companies of Li Yapeng auctioned the right to use four plots in Ganzhou. The four plots will be planned as a comprehensive park integrating Chinese traditional culture, cross-border art, culture and innovation, and commercial housing, called Ganzhou Chinese culture Valley, with a total planned investment of 6.1 billion yuan.

Li Yapeng is more known as a well-known male movie star, and two screenwriters of Jin Yongs martial arts once made him popular in China. Obviously, actor identity cant satisfy Li Yapeng. He once positioned himself as 40 year old idealistic entrepreneur. Real estate is the main field he cut in.

After losing Lijiang, Li Yapeng took the land with great enthusiasm! Fight again with culture, tourism and real estate

Investment is not very successful Li Yapeng, Ganzhou pursues real estate dream again

Prior to Ganzhous land acquisition, Li Yapeng had been in the real estate industry for 9 years, involving in projects including Lijiang Snow Mountain Art town and Zhengzhou Chinese culture valley. However, the survey found that behind the high-profile layout of Ganzhou, Li Yapengs two real estate projects did not go well: the control of Lijiang Snow Mountain Art town had already been ceded; and the project in Zhengzhou China Cultural Valley could not meet the requirement of completed within three years when taking the land.

Li Yapeng also changed his other identity. Chinanet found that Li Yapeng has obtained Hong Kong Identity and has three Hong Kong companies. Its capital distribution in the mainland is closely related to his mother and brother Li Yawei. In recent years, Li Yapengs active titles in the field of real estate and entertainment are all chairman of Zhongshu Holdings, but the company centered Zhongshu Department is almost all held by his mother Zhang Ping, some of which are involved in lawsuits and become the executors.

Ganzhou project won the support of local government

The main company of the four plots is Ganzhou Zhongshu resources real estate Co., Ltd. (hereinafter referred to as Ganzhou Zhongshu). Multiple cross information shows that the company is the related company of Li Yapeng and Zhongshu holding.

According to the online transaction system of land use right in Jiangxi Province, the land obtained by Zhongshu auction in Ganzhou is two commercial land and two commercial and residential land in Rongjiang New District, Ganzhou City, with a total area of 220000 square meters. Among them, the commercial land is 89000 square meters, accounting for 40.4% of the total area; the commercial and residential land is 131000 square meters, accounting for 59.6% of the total area. The price of the land is 780 million yuan, with a price of 3396.1 yuan / m2, which is lower than the recent transaction price of 5379.4 yuan / m2 of another commercial residential and commercial plot in Rongjiang new town.

Ganzhou Zhongshu got a positive response from the local government. The day after the auction, Zhang Shengze, Secretary of the Party group of Jiangxi Provincial Department of natural resources and others came to Rongjiang new area for investigation, while Li Yapeng, as chairman of Zhongshu holdings, introduced the progress of Ganzhou China Wengu project.

During the auction of the four plots, it was doubted that Ganzhou Zhongshu took the land directionally. For example, it is explicitly mentioned in the relevant auction conditions that the land parcel shall introduce cultural and creative industry projects that have obtained the agency and operation authorization of at least five world-famous National Museum Cultural and creative projects. Zhongshu department is in line with this condition. Its cultural and creative e-commerce platform Yilian Park has obtained the operation rights of many museums, including the British Museum and the Palace Museum.

To this end, a staff member of the land and space use control office of Ganzhou told Chinanet that the land use conditions were determined by the Department, but they did not know that Ganzhou Zhongshu would come to take the land before the auction, and the public auction was fair to everyone.

In any case, Ganzhou Zhongshus land acquisition this time was indeed supported by the local government. After penetrating the companys equity, Jiangxi Tourism Groups Ganzhou new tourism investment and Development Co., Ltd. is the major shareholder of the company, with a shareholding ratio of 55%; Beijing Zhongshu Resources Investment Co., Ltd. has a shareholding ratio of 45%.

Li Yapengs predestination with Ganzhou can be traced back to 2017. At that time, Li Yapeng visited the Rongjiang new area of Ganzhou and said that he would bring the Academy China public welfare plan to the city. In the same year, Li Yapengs public welfare fund Beijing Academy China culture development foundation raised 600000 yuan for Jiangxi Ganzhou academy project. It was found by Chinanet that in 2018, the fund spent 540000 yuan on this Jiangxi project, and became the largest expenditure of the fund in that year.

Zhongtou.com and the government cooperated to take the land. They called Ganzhou Zhongshu (the companys contact information is the same as Zhongshu Holdings). The other side replied, you have the wrong number. We dont have this matter here (Zhengzhou and Ganzhou projects).

At present, Li Yapengs Ganzhou project is in full swing. According to the query of Chinanet, 5 new companies of Zhongshu Department were established in Ganzhou, with the registration time from April to the end of October 2019, covering Hotel and business management.

It is worth mentioning that one of the companies Ganzhou Taidi ice and snow Business Management Co., Ltd. is similar to the former layout of Zhongshu Department in Zhengzhou. Local real estate sales staff in Zhengzhou told Chinanet that the Teddy city project to be built in Wengu, China, will have five floors, and the third and fourth floors will also be ski resorts.

Zhengzhou real estate project may not be completed as scheduled

According to the plan, the Ganzhou plot of Li Yapeng will become the Ganzhou Chinese cultural Valley project. China culture Valley is a brand concept proposed by Li Yapeng in December 2015. According to Li Yapengs idea, China culture Valley is an ecological system created by Zhongshu holdings. It integrates music, drama, dance, art exhibition and even clothing show, forum, Internet, maker, etc. with living life, so as to realize the grafting of cultural and artistic resources and block commercial complex.

The land acquisition time of Zhengzhou China Wengu plot is August 2017, covering an area of 81000 square meters. The winning party is Henan Zhongshu real estate. Henan Zhongshu Real Estate Co., Ltd. is jointly funded and established by relevant companies of Zhongshu holding and Jinke Co., Ltd., a real estate listed company.

Investment in the network found that at that time the land-use right listing notice for the completion of construction has a clear time. According to the regulations: the bidder needs to build a world-famous childrens cultural theme IP complex on the plot; the project needs to be completed and put into operation within three years after the land transaction; the project must start construction before the residential project.

World famous childrens cultural theme IP complex or pointing to Teddy City Project in Zhengzhou Chinese culture valley. According to the conditions of land acquisition, Henan Zhongshu real estate must complete the construction of the project and put it into operation before August 2020. According to zhongtou.com, a number of sales personnel of wengunei residential project in Zhengzhou, Teddy city project is currently under construction, and the main building has come out of the ground, but the completion may wait until the end of 2020 or 2021.

The website tried to verify the above information with Henan Zhongshu Real Estate Co., Ltd., but as of the publication, no reply has been received.

In addition to the progress of construction, a notice of cancellation of guarantee issued by Jinke real estate may reveal the variables of the previous 400 million yuan loan of Henan Zhongshu real estate.

As the largest indirect shareholder, Jinke not only promised to provide financial support of no more than 1.4 billion yuan for Henan Zhongshu real estate, but also promised to provide a guarantee of 1 billion yuan for it.

The other side replied that the guarantee amount provided to Henan Zhongshu Real Estate Co., Ltd. has not been used at present. The company cancelled this time to provide guarantee for other companies that need the amount.

Does the cancellation of the guarantee line mean that the loan of 400 million yuan provided by Ping An Bank for Henan Zhongshu real estate is variable? The Secretary Office of the board of directors of Jinke said it was not clear. CIC also failed to get a response from Henan Zhongshu real estate.

The cooperation between Jinke and Zhongshu holding in Wengu, Zhengzhou, may be called Li Yapengs new exploration after his defeat in Lijiang. The above-mentioned real estate sales personnel told Chinanet that the operators of cultural and creative projects in Zhengzhou China Cultural Valley and Teddy city are Zhongshu holdings, while the housing construction is the responsibility of the real estate developer Jinke Co., Ltd.

As Shi Baocheng, general manager of Zhongshu investment, once mentioned in public, in the future, Zhongshu holdings will be very determined to be a resource integration operator of Chinas cultural industry, and will no longer touch things that it is not good at.

Shi Baocheng said things that he is not good at and directly pointed to the first real estate project of Zhongshu holdings many years ago - Lijiang Snow Mountain Art town. In his speech at the 7th Real Estate China Forum held in 2015, he reflected on the mistakes of Zhongshu holdings in Lijiang project: in the past year and a half, we have learned a very profound lesson that buying a house is not equal to building a house.

The failure of Lijiang project once made Li Yapeng involved in the lawsuit and became the executor.

In June 2015, due to the loss of Lijiang project company, Li Yapeng and Zhongshu holdings transferred 51% of the equity and control rights of the project to sunshine 100 Holdings, a Hong Kong listed company. At that time, the Lijiang project partner Taihe Youlian gave up its initial share subscription right and chose 40 million yuan of mature bonds as fixed income.

At that time, Li Yapeng, Zhongshu holding and other original shareholders were unable to pay the 40 million yuan due to many debts they owed to help Lijiang project company develop. Since then, the two sides began a long litigation around the matured claims.

In March 2018, the final judgment of the case was that Li Yapeng had to pay the money. However, in the subsequent civil ruling, the Beijing Higher Peoples court ordered the retrial of the case and suspended the execution of the original judgment during the retrial. According to the query of chinacast.com, at present, there is no identity of Li Yapengs executee in China executive information disclosure network. Tianyan inspection information shows that Li Yapengs equity in the Lijiang project company is worth 72.7935 million yuan, so the case is frozen until September 9, 2022.

China business daily once reported on the case, after the judicial department found that Li Yapeng had no executable property under his name when executing the law.

In fact, Li Yapengs asset situation is relatively complex, and his equity relationship with his mother and brother in mainland companies is frequently intertwined.

At present, Li Yapengs main business in the mainland - Entertainment real estate, all rely on Zhongshu Holdings as the backbone to develop downward. The control of Zhongshu holdings is in the hands of Zhang Ping, Li Yapengs mother.

In addition to Zhongshu holding, there are 8 companies in which Zhang Ping acts as a legal person, 11 as a shareholder and holds the actual control rights of 32 companies. Among these companies actually controlled by Zhang Ping, 25 are Zhongshu companies, and 7 are involved in technology, cultural communication, catering and other industries.

On September 18, 2019, the relevant departments issued a consumption restriction order to Li Yawei. The case can be traced back to a TV play, the biography of the great doctor Avenue, produced by Li Yapeng. In April 2019, the final judgment came to a lawsuit about the investment, shooting and copyright of the play. Li Yawei and his legal person, Beijing Century Spring and Dongyang wanruida, lost the lawsuit and became the executor of the case. According to the equity change information, Li Yapeng was also an investor of the company, but he withdrew his shares in September 2016 in the dispute and only held the senior management position of the company.

Tianyan information shows that at present, there are only four companies in which Li Yapeng himself shares. Among them, Beijing Xina Technology Co., Ltd. is a dishonest company publicized by the Supreme Peoples court; Beijing century spring film and Television planning Co., Ltd. and Dongyang century spring film and Television planning Co., Ltd. are listed in the list of business exceptions; the equity of Lijiang Xueshan Investment Co., Ltd. (the above mentioned Lijiang project company) has been frozen.

Apart from mainland companies, Li Yapengs capital layout has been extended to Hong Kong. Through public channels, chinainvest.com learned that Li Yapeng has held Hong Kong Identity and has three companies registered in Hong Kong: China Academy Hotel (Hong Kong) Management Co., Ltd., China Academy Real Estate Co., Ltd. and Yanran Angel foundation Co., Ltd., of which the first two are private companies limited by shares and the latter are guarantee companies limited.

Source: editor in charge of China Investment Network: Wang Xiaowu NF