Shares of Qilu Bank held by Sanlian Group will be auctioned for 79.38 million yuan

 Shares of Qilu Bank held by Sanlian Group will be auctioned for 79.38 million yuan

Zhang Jisheng, founder of Shandong Sanlian Group

Recently, Jinan Intermediate Court put up auction information on Alibaba auction platform, and the 30 million shares of Qilu Bank held by Shandong Sanlian Group Co., Ltd. will be auctioned. According to Alibaba auction platform, the 30 million shares will be auctioned by the judiciary on December 9, with a starting price of 79.38 million yuan and an equity evaluation price of 113 million yuan. The starting price of this auction is equivalent to 70% of the evaluation price.

According to the auction announcement, Jinan Intermediate Peoples Court of Shandong Province will conduct public auction activities on Alibaba judicial auction network platform of Jinan Intermediate Peoples Court of Shandong Province from 10:00 on December 9, 2019 to 10:00 on December 10, 2019 (except for the delay).

The auction target is 30 million shares of Qilu Bank Co., Ltd. held by Shandong Sanlian Group Co., Ltd. The starting price is 79.38 million yuan, the margin is 5.67 million yuan, and the price increase is 500000 yuan.

As Qilu bank is currently in the process of listing application, the 30 million shares auction bidders of Qilu bank are limited to legal persons, and must conform to the shareholder qualification stipulated in the measures for the implementation of administrative licensing matters of Chinese funded commercial banks of the Bank of China Insurance Regulatory Commission, the Interim Provisions on investment in financial institutions and the Interim Measures for the equity management of commercial banks.

On December 3, one party of Shandong Sanlian Group Co., Ltd. said that the company had not been able to pay its due debts for many years, and the equity auction may cause more judicial disputes involving the companys debts to enter the execution period.

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From prosperity to decline

Buy home appliances, to triple, triple home appliances warranty for life. This slogan has been popular all over the country. When Gome and Suning were still unknown, Sanlian household appliances, which originated at the beginning of reform and opening up, once became famous all over the country. It is one of the few star enterprises in Shandong Province, and also a famous household appliance sales giant in China. In its heyday, Sanlian home appliance chain stores could reach more than 400, with more than 30000 employees.

Triple boom and bust, bad luck began in 2004, blacklist incident.

In March 2004, the China Banking Regulatory Commission and the peoples Bank of China jointly issued a list of prudent loans (commonly known as the blacklist) to the national financial institutions. Shandong Lianda group was on the list for the reason that the business scope of the enterprise is relatively wide, and excessive investment and guarantee to foreign countries. And Sanlian Group is also listed in the list in the name of holding enterprises of Lianda group. After entering the blacklist, all financial institutions urgently paid off loans, leading to the rupture of the capital chain. In the medias public reports, Zhang Jisheng once said that Sanlian Group is the affiliated enterprise of the listed enterprise, not the controlling enterprise.

During the Spring Festival in 2008, Sanlian held shares of Sanlian trading house Co., Ltd. (listed companies in Shanghai stock market) were auctioned. The reason is that a controversial disposal method after maturity is only 30 million yuan overdue loan, and the auction turnover is up to 17.9 times of the target amount. The incident became the first card to fall from the triple domino.

Within a few days, Sanlians assets were all sealed up, the accounts were all frozen, and the Caishi mountain villa and sunshine Shuncheng commercial housing projects under construction, which had received the house purchase money in advance, were forced to shut down.

Over the past few years, the prosperous Sanlian Group has gradually disappeared in peoples vision with the passage of time.

Source: Qilu Evening News Author: Zhang Yuyan Chen editor in charge: Wang Xiaowu Gu NF