The collapse of retail industry and the shutdown of culture and tourism industry

category:Finance
 The collapse of retail industry and the shutdown of culture and tourism industry


As one of the largest convenience store brands in Beijing market, full-time convenience store was founded in 2011 and was once a subsidiary of Fuhua Holding Co., Ltd. at that time, Fuhua Holding Co., Ltd. held 61% of the shares.

In February 2019, Fuhua transferred the full-time convenience store in Beijing Tianjin area to Beijing Shanhai blueprints Business Co., Ltd. But after Shanhai blueprints took over the operation for more than a year, it still encountered the fate of closing the store.

This time, even if there are full-time related personnel who say it is the strategic adjustment and contraction caused by the impact of the epidemic, but the full-time operating difficulties are caused by the change of hands after the break of the capital chain in the restoration of China last year.

The question of restoring China is not just about full time. After the capital chain was broken, the financial platform walrus financial management and Hanya capital could not be cashed on time, most of the cultural, tourism and real estate projects were shut down, and many business platform employees were laid off and underpaid, even if labor arbitration could not be asked back. Li Hao, a former employee of Fuhua, told the interface news.

Liang Doudou (pseudonym) also encountered a similar situation. She invested a million yuan through walrus financial app in 2017, and soon became an employee of walrus financial. However, Liang Doudou was forced to lay off his staff after the outbreak of walrus financial management capital chain crisis in 2018. So far, his wages and compensation have not been paid, and his million financial management principal has no return.

The collapse of retail business

Fuhua Holding Co., Ltd. was founded in 2013. Wang Xin, the actual controller after equity penetration, holds 90% of the shares, with a registered capital of 1 billion yuan.

According to the information on the official website of Fuhua, the business scope covers real estate, finance, investment, culture, tourism, health, hotel and other fields. However, the official website of Fuhua holdings is now closed, and the above information has disappeared from the website of Fuhua assets.

Interface News reported in 2018 that from the perspective of the enterprise structure obtained by internal employees, Fuhua holdings business is divided into seven parts: Fuhua land, Fuhua assets, Fuhua holdings, Fuhua investment, Fuhua standard life, hotel management company and LiLang resort. After Fuhua land was renamed as Fuhua culture and tourism.

Although Fuhuas business looks huge and complex, the actual operation of the business, basically only two parts of the entity and finance. The entities are divided into full-time convenience, global port, and around the development of cultural and tourism real estate projects, business, hotel operation, etc. finance is based on the above entity business, mainly through walrus financing, Hanya assets, Phoenix wallet and other platforms for private financing.

Tianyancha information shows that the major shareholders of Beijing all time alliance convenience store Co., Ltd. and Beijing earth port excellent business management Co., Ltd. are all Beijing Fuhua excellent business management Co., Ltd. under Fuhua holding.

At the end of 2018, affected by the crisis in the financial capital chain of walrus, the stores in the South and north areas of the full-time convenience store were divided. At the same time, the earth port business, which has only been established for one year, is also in trouble.

Founded in March 2017, earth port excellence business once served as a new retail brand under the business of Fuhua, positioning a new space for global good food, cross-border integration of retail + catering + technology interactive terminal + online app multi formats, benchmarking enterprises including HEMA fresh and super species.

In January 2018, the first store of earth port opened in Liuliqiao, Fengtai District, Beijing. According to the plan at that time, 300 stores will be opened in three years.

However, in November of that year, the earth port, which had just opened five stores, was closed. According to Tianyan, earth port business has successively registered companies in 10 cities including Beijing, Dalian, Qingdao, Nanjing and Wuhan, and plans to arrange stores nationwide.

After querying the news on the interface, it was found that by the end of 2019, except Beijing, Dalian and Qingdao, all the companies in other cities had been cancelled, and the business of earth port was on the verge of failure.

Culture and tourism stop

Founded in 2013 with a registered capital of 3 billion yuan, fhct is positioned as a global innovative cultural tourism industry investment operator.

According to the information released earlier by Fuhua, the cultural and tourism projects are located in ten countries and more than ten cities around the world, including Beijing, Changchun, Jinan, Jiuzhaigou, Huangshan, Changsha, gold coast of Australia, etc. the cultural and tourism investment area is more than 100 billion yuan, and the project scale is more than 50000 mu. Fuhua has also started to call itself a cultural and tourism enterprise with a scale of 100 billion assets.

However, in the following years, only Changchun, Jinan, Lijiang, Jiuzhaigou, Australia and other projects have really landed.

According to a phase statement released by Hanya assets official investment committee on April 16 this year, only Huangshan, Lijiang, Jiuzhaigou, Changchun and other projects are still in actual operation. Among them, Huangshan project includes LiLang resort, hotel and business street. Lijiang project is Fuhua resort world, Huanglong Fuhua resort world and Changchun Fuhua future world. Hanya Investment Committee is a platform for investors to communicate debt disposal with Hanya assets and various business sectors of Fuhua.

According to a former employee of Fuhua, Changchun Fuhua future world also shut down last year due to the lack of funds: there was news that new investors planned to enter before and continue to start construction, but they did not.

According to the public information, in August 2019, the resumption ceremony was held for block D of Changchun future world phase I, the main structure has been basically capped, and the curtain wall has been completed by 70%. It is also planned to open and operate before the end of 2020.

Information from Hanyas official investment committee also shows that Changchun project is still in the stage of negotiation with the general contractor meeting. Although preparations are under way for the resumption, it is still uncertain when the work will start.

Another project that has formed and operated is Lijiang Fuhua holiday world. According to local staff, Fuhua LiLang resort hotel opened in July 2018 and is still in normal operation. However, the sales of villas and shopping malls that can really collect funds were locked by local relevant departments in 2018.

After the financial platform broke out in the capital chain crisis, Fuhua has been unable to pay for the property rights of Lijiang project, so although some villas and business streets have been completed, they still cannot be sold and operated. Staff said.

In fact, since April last year, Fu Hua cultural tourism has tried to transform the project into a health town, a cultural tourism + health care product integrating ecology + culture + health + tourism, and started to promote the Muni town project in Jiuzhaigou, Huanglong, Sichuan Province. In June 2019, some of the available houses were also publicized.

At the same time, it seems that the pace of globalization has not stopped. On December 30, 2019, Fuhua holdings also announced to land in Malaysias senbena international holiday world to create a diving holiday + healthy life destination.

However, according to former employees of Fuhua, the situation of Muni town is similar to that of Changchun project. The actual construction is only carried out to the landscape part, and it has been shut down earlier: without funds, the project can not be pushed forward. And Malaysias project, probably just for investors draw a big pie..

According to the work records of Hanya Investment Committee, Wang Xin, chairman of Fuhua holdings, organized the internal meeting of rejuvenation plan on April 13 this year. At present, the core departments are only Fuhua cultural tourism, Fuhua cultural business, Fuhua assets, walrus financial management and Hanya capital.

In addition to promoting the operation of the above-mentioned entity projects, the core issues of the meeting are debt to data, debt to mall, debt to equity conversion of some projects and subsequent ownership of some bonds after the promotion of existing projects.

However, even if Fuhua hopes to solve the remaining debt problems in the form of debt to equity swap, it is also difficult.

After the capital chain crisis in 2018, walrus financial involved more than 70000 investors, involving a run amount of 1.5 billion yuan and a stock amount of 4 billion yuan. From September 2019, walrus began to convert debt to real estate, from December to RCI, and from this year to mall.

Debt to RCI refers to the conversion of debt into vacation exchange equity, while debt to mall refers to the conversion of debt into shopping in walrus mall, which is online in March this year.

For the debt transfer of small customers such as walrus financial management, health care card and equity products, the plan of Fuhua is to carry out debt transfer RCI. RCI is a global holiday industry enterprise, with 357 resorts in China. Fuhuas small debt customers can be transferred to RCI customers voluntarily, and given a certain number of weeks according to the amount. They can change rooms in RCIs global hotels, and the consumption will be completed in 10 years.

That is to say, the goods in the mall do not exclude the full-time goods supply from the earlier earth port, while walrus uses goods to pay debts to the earlier investors.

To this end, Liang Doudou refused to turn the debt in walrus financial management into shopping in the mall: most of the goods provided by the mall are daily necessities, and millions of debts are exchanged. When can I buy them out? And the value of the goods is not equal. In fact, the debt has been devalued. Wang Xin, chairman of Fuhua, mentioned at the Hanya Investment Committee that the base card of Fuhua is to quickly accumulate the total assets, cover the liabilities with high-quality assets and gradually growing funds, and complete the payment or debt transfer with the planned time countdown. However, the debt processing work since last year in Fuhua has not been progressing smoothly. Some insiders think that to solve the problems faced by Fuhua, it seems that we can only wait for new investors to enter the market, rely on the funds to re run the project and solve the debt problem. However, Fuhuas debt is complex and its asset position is not very good. In particular, this years epidemic has led to a general freeze in the operation of cultural tourism projects. Under the situation of tight market funds, it is not optimistic whether any investors are willing to take over. Source: editor in charge of interface news: Yang bin_nf4368

To this end, Liang Doudou refused to turn the debt in walrus financial management into shopping in the mall: most of the goods provided by the mall are daily necessities, and millions of debts are exchanged. When can I buy them out? And the value of the goods is not equal. In fact, the debt has been devalued.

Wang Xin, chairman of Fuhua, mentioned at the Hanya Investment Committee that the base card of Fuhua is to quickly accumulate the total assets, cover the liabilities with high-quality assets and gradually growing funds, and complete the payment or debt transfer with the planned time countdown.

However, the debt processing work since last year in Fuhua has not been progressing smoothly. Some insiders think that to solve the problems faced by Fuhua, it seems that we can only wait for new investors to enter the market, rely on the funds to re run the project and solve the debt problem.

However, Fuhuas debt is complex and its asset position is not very good. In particular, this years epidemic has led to a general freeze in the operation of cultural tourism projects. Under the situation of tight market funds, it is not optimistic whether any investors are willing to take over.