On November 12, a reporter from China real estate news met Wang Bai. He said, my daughter-in-laws heart has been bad. This year it is more serious. She needs surgery urgently, but she is short of money. There are children and 70 year old people in my family. While I am working, I contribute money, and the medical expenses are still poor. My hope is that I have been in arrears for more than two years.
Wang Bai is one of the hundreds of former employees of Shenzhou Great Wall Co., Ltd. (hereinafter referred to as Shenzhou Great Wall), and his experience is not unique. Like Wang Bai, hundreds of employees are also troubled by the problem of arrears of wages.
Recently, they saw that the office of the State Council Leading Group for eradicating the arrears of migrant workers wages issued the notice on carrying out the winter special action to root out the arrears of wages. The Circular of the State Council said: it has decided to organize a special winter action to eradicate arrears of wages from November 6, 2020 to the Spring Festival in 2021; all localities should clear the illegal acts of arrears of wages; serious treatment should be carried out in accordance with the law and regulations in major typical cases of arrears of wages, so as to achieve interviews, circulations, accountability and exposure, which can serve as a warning.
Several former employees of great wall of China confirmed to reporters that in May 2018, hundreds of employees of great wall of China began to be in arrears without any notice. Since then, they have left their jobs and started to protect their rights. Wang Bo said that the wages owed by each person ranged from 20000 yuan to 100000 yuan. A small number of employees received their wages through compulsory enforcement and provided evidence of property certificates to the court, but hundreds of people still could not get their wages.
From November 14 to 16, reporters repeatedly called Shenzhou Great Wall enterprise annual report reserved telephone, but they were not connected.
On the other hand, the reporter learned that in recent years, the great wall of Shenzhou was also in turmoil, and failed to go through bankruptcy reorganization; the legal representative and chairman of the board of directors were listed as dishonest executors; in January this year, the companys shares were delisted.
80 million yuan in arrears
Shenzhou Great Wall, founded in 1984, is a listed company on the main board of Shenzhen Stock Exchange. It mainly invests in medical engineering at home and abroad. The investment field covers housing construction, road and bridge, energy and chemical industry, health and medical treatment, etc., with dozens of wholly-owned subordinate companies such as world engineering and project investment.
In the eyes of outsiders, such a big money listed company will never be related to arrears of wages. The turning point occurred in May 2018.
Wang Bai recalled that I was a safety officer in the security inspection department of Shenzhou Great Wall International Engineering Co., Ltd. (a subsidiary of Shenzhou Great Wall holding company, hereinafter referred to as Shenzhou Great Wall International) in July 2014. Since May 2018, the company stopped paying wages without any notice. I asked my colleagues around me and they said that they did not receive it. The companys reply is we cant solve everyones salary until we find a new shareholder in the companys judicial reorganization.
After several months of waiting, no wages were received. Forced to make a living, Wang Bai chose to leave at the end of September 2018. At this time, the salary owed was more than 32000 yuan, and some travel expenses were not reimbursed.
In May of the following year, we media reported the event. In that article, the author wrote, as a listed A-share company on the Shenzhen Stock Exchange, one of Chinas top 100 foreign contractors, and with more than 2000 employees, Shenzhou Great Wall company has defaulted on the wages of thousands of employees since April 2018, and has been in arrears for more than six months, accumulating more than 56 million yuan, which has not been paid more than a year ago.
As for the reasons for the arrears of wages, the article analyzes that Chen lueli, the boss of Shenzhou Great Wall, secretly transferred the assets to China Industrial Investment Group (the legal representative is also Chen Lue) and a subcontractor surnamed Lin. by changing the legal person, Shenzhou Great Wall International was stripped off, making it a shell without any assets, resulting in the hopeless wage settlement of thousands of employees
On May 16 of the same year, the Shenzhou Great Wall officially issued a clarification announcement to the public, which indicated that the we media report was not true. In order to refute the main problems pointed out in the article, Shenzhou Great Wall denied the 56 million yuan in arrears mentioned in the article, and said that according to statistics, as of the disclosure date of the announcement, the company and its major subsidiaries had a total of 81.4158 million yuan in arrears, which was not the 56 million yuan disclosed by the media.
As for the issue of asset transfer mentioned by we media, Shenzhou Great Wall responded in the announcement, at present and in the future, there will be no equity change and divestiture of Great Wall International. There is no case that Great Wall International will become a shell without any assets by means of divestiture, so as to avoid paying employees wages.
Whether there is asset transfer or not, the explanation of wage arrears from 56 million yuan to 80 million yuan in the announcement has also become a laughing stock in the industry. According to public information, in May 2019, the closing price of Shenzhou Great Wall B shares continuously fell below the par value of 1 yuan. Clarification notice issued by the great wall of China.
There is no property to enforce the administrative decision made by Beijing Municipal Bureau of human resources and social security is not recognized by the employees in arrears.
In fact, as early as March 2019, Beijing Tongzhou District Labor and personnel dispute arbitration committee conducted mediation on the dispute between Wang Bai and Shenzhou Great Wall International.
After mediation, the two sides reached an agreement that Shenzhou Great Wall International will pay Wang Bai wages and economic compensation for termination of labor contract from June 1 to September 28, 2018 before May 13, 2019, totaling 67377.49 yuan.
During this period, we found vice chairman Guo of the all China Federation of trade unions to promote the resolution of the matter. From June to August 2019, many of our employees received 3000 yuan a month, and then they were cut off. As of November 2020, Wang Bai only received 9000 yuan. He said that a small number of employees were paid through enforcement and provided evidence of property to the court, but hundreds of people were still not paid.
Several former employees of the company confirmed that some employees had not received due compensation after labor arbitration. Its hard to wait until the payment date, but the company says it has no money to pay the salary. To the court to apply for enforcement, the court replied that there was no property to enforce.
In the eyes of the employees who have been paid in arrears, the company is not without property. They showed reporters all kinds of evidence that the great wall of China was able to pay its debts.
This includes Chen luegang, chairman of Shenzhou Great Wall, who donated 3 million yuan to his village to build a cultural activity center two months before the company began to owe wages; after the arrears began, the great wall of China received the receipt picture of project payment, photos and screenshots of the companys projects under construction. One of the evidences that the former staff of the great wall of China showed to reporters that the great wall of China was capable of paying the arrears.
They asked the Ministry of human resources and social security to coordinate with relevant departments to order Shenzhou Great Wall company to pay all wages, compensation and additional compensation to all workers.
On July 7, Beijing Municipal Labor Supervision General Team ordered the two orders to pay workers wages and economic compensation before July 15, 2020, and pay additional compensation to the workers according to the standard of 50% of the wages and economic compensation payable. The unit failed to fulfill the payment obligations in accordance with the requirements of the administrative decision within the specified time limit.
Since then, Shenzhou Great Wall failed to fulfill the payment obligations as required. On August 10, 2020, Beijing Municipal Bureau of human resources and social security made an administrative decision to impose an administrative penalty of 20000 yuan on Shenzhou Great Wall International Engineering Co., Ltd. and Beijing Branch of Shenzhou Great Wall southwest Construction Co., Ltd.
The administrative decisions made by the Beijing Municipal Bureau of human resources and social security are not recognized by the employees of the Great Wall in arrears. They believe that the fact that the great wall of Shenzhou owed hundreds of workers tens of millions of yuan in wages and was able to pay but did not pay their wages, was suspected of malicious default, and the fine of 20000 yuan was too light.
Can the great wall of Shenzhou be able to pay but not pay labor remuneration? The reporter repeatedly called Shenzhou Great Wall enterprise annual report reserved telephone, but was not answered.
Shenzhou Great Wall is the first company in the history of A-share to withdraw from the market at the same time due to breaking the surface. Shenzhou Great Wall announced the termination of listing and delisting notice.
In the evening of January 6, 2020, Shencheng a announced its withdrawal, and the companys shares (securities code: 000018, 200018) entered the delisting and consolidation period on November 25, 2019. As of January 6, 2020, 30 trading days had expired, and the delisting consolidation period had ended. The companys shares have been decided by the Shenzhen Stock Exchange to stop listing, and will be delisted by Shenzhen Stock Exchange on January 7, 2020.
According to the announcement, from September 26, 2019 to October 30, 2019, the daily closing prices of a shares and B shares of the company through the Shenzhen stock exchange trading system for 20 consecutive trading days were all lower than the par value of the shares (RMB 1). On November 15, 2019, Shenzhou Great Wall Co., Ltd. received the Shenzhen Stock Exchanges decision on termination of listing of Shenzhou Great Wall Co., Ltd. and Shenzhen Stock Exchange decided to terminate the listing of the companys shares.
According to public information, Shencheng B was formerly named shenzhongguan B. On June 16, 1992, Shenzhen Zhongguan B shares were listed with the stock code of 200018, and 20 million shares were issued at the issue price of HK $2.5 per share, and a total of HK $50 million was raised.
In 2015, the great wall of Shenzhou landed in the capital market with a backdoor.
It is worth noting that in this year, Shenzhou Great Wall also invested a lot in the medical and health business sector. It successively acquired foreign assets of Baden Baden hospital in Germany and Wuhan commercial and vocational hospital, and established project teams in Sichuan, Henan, Hunan and other places.
According to the annual report of 2018, the company realized an operating revenue of 2.427 billion yuan, a year-on-year decrease of 62.65%, and a net loss of 1.705 billion yuan. While reaping huge losses, the companys securities abbreviation was changed to * ST Shencheng because the annual report of 2018 was issued by an accounting firm with no opinion.
By the end of this year, due to a large number of overdue debts, most of which have been involved in litigation, and the shortage of monetary funds available for business activities, the great wall of China has also fallen into debt crisis and management difficulties.
In February 2019, * ST Shencheng exploded huge debts when replying to the concern letter of Shenzhen Stock Exchange. As of the date of reply, the total amount of overdue debt principal and interest of the company was 2.496 billion yuan, and the pledge of accounts receivable was 3.269 billion yuan. 39 accounts of the company and its subsidiaries were applied for freezing due to debt problems, and the frozen fund balance was 17.8265 million yuan.
In October of the same year, * ST Shencheng also issued the announcement on self inspection and rectification measures for information disclosure. According to the statement, on December 14, 2017, Shenzhou great wall and Shihong factoring signed a non recourse domestic factoring business contract, which agreed that the company would transfer the receivables discount of RMB 232 million to Shihong factoring. However, the business is not a real factoring business and most of the funds of the factoring company are provided by the company, the purpose is to achieve the purpose of less provision for bad debts of accounts receivable, and increase the companys current net profit by about 35.7376 million yuan.
According to the annual report of the first half of 2019, Shenzhou Great Wall achieved only 256 million yuan of operating revenue, a year-on-year decrease of 83.85%; the net profit loss of parent company was 1.417 billion yuan, a significant decrease of 1083.87% year-on-year. In the first three quarters, the operating revenue was 324 million yuan, a year-on-year decrease of 85.65%; the net profit loss was 1.53 billion yuan, a year-on-year decrease of 6098.52%. The total assets of the company is 7.972 billion yuan, but the total liabilities is 9.126 billion yuan, and the asset liability ratio is 114.48%.
Shenzhou Great Wall is not without efforts. Between July and December 2019, creditors of great wall applied to the court for bankruptcy reorganization, and the company once wanted to introduce external investment in the restructuring process to resolve the crisis, but the plan eventually miscarried, and the Great Wall inevitably ushered in delisting.
After delisting, there was a lot of turbulence
Misfortune never comes singly. After delisting, the great wall of Shenzhou is still full of waves.
According to the facts, nature, circumstances and social harmfulness of the parties illegal acts, and in accordance with the provisions of the first and third paragraphs of Article 193 of the securities law of 2005, the CSRC ordered the Shenzhou Great Wall to correct, gave a warning and imposed a fine of 600000 yuan. Chen Lue was given a warning and fined 900000 yuan, including 300000 yuan as the person in charge directly responsible and 600000 yuan as the actual controller.
It seems that dust fell to the ground, but in fact, the test placed in front of the great wall of China has just begun. For hundreds of people who have been paid in arrears, the simple desire to get the reward they deserve is still a big obstacle.
And behind the hundreds of people who have been paid back, are the real aspirations of their families.
Source: Chen Hequn, editor in charge of China real estate news_ NB12679