Zhongtai Securities intends to purchase 11%equity of Wanjia Fund from the original "richest man in Jinan", with a price of nearly 290 million yuan

Author:Daily Economic News Time:2022.07.12

On the evening of July 12, China Thailand Securities (SH600918, a stock price of 7.28 yuan, and a market value of 50.73 billion yuan) announced, the company's transfer of the company's director Liu Feng, an enterprise Qihe Zhongxin Investment Co., Ltd. (hereinafter referred to as "Qihe Zhongxin" ) 11%of the 11%stake in the Wanjia Fund Management Co., Ltd., the transaction price of the transaction of the transaction was 289.6 million yuan. After the completion of the transaction, the company's equity ratio of 10,000 funds will be increased from 49%to 60%. Qihe Zhongxin no longer holds the equity of Wanjia Fund.

Photo source: take by reporter Zhu Wanping (every information map)

Buying a fund company is not new to a broker. However, the reporter of "Daily Economic News" noticed that Liu Feng was both a director of Zhongtai Securities, and he also had a special identity -he and his wife Lin Xuyan were once known as "the richest man in Jinan". The former Secretary of the Laiwu Iron and Steel Factory Office has repeatedly on the Hurun Rich List, but in 2021, his wealth shrinks and his ranking has fallen sharply. At present, Liu Feng's "richest man in Jinan" has been replaced by Cai Haoyu, the founder of Mihayou, who has just stepped on the Trust of Thunder Win Mine.

The net profit of the Wanjia Fund in the first quarter was 74 million, and the appraisal of the transaction was 125%

First look at the transaction situation of Wanjia Fund.

According to the announcement of Zhongtai Securities, before the transaction, the company held 49%of the equity of Wanjia Fund, Qihe Zhongxin held 11%of the equity of Wanjia Fund, and Shandong New King Energy Fund Management Co., Ltd. (hereinafter referred to as the "New Power Fund Fund Company ") holds 40%of the equity of Wanjia Fund.

As of December 31, 2021, the total assets of Wanjia Fund merged the total assets of 2.866 billion yuan, the total liabilities were 1.426 billion yuan, and the net assets were 1.439 billion yuan. In 2021, the Wanjia Fund realized the merging operating income of 1.567 billion yuan, with a net profit of 306 million yuan.

As of March 31, 2022, the total assets of Wanjia Fund merged the total assets of 2.603 billion yuan, the total debt was 1.152 billion yuan, and the net assets were 1.451 billion yuan; from January to March 2022, Wanjia Fund realized consolidated operating income of 349 million yuan, net profit for net profit, net profit, and net profit. RMB 074 million. The above data has not been audited.

In this transaction, Zhongtai Securities hired Zhongshui Zhiyuan as an assessment agency. The total equity value of the Wanjia Fund shareholders of Wanjia Fund finally evaluated was 2.79 billion yuan, an evaluation value -added of 1.555 billion yuan, and a value -added rate of 125.84%. Based on the evaluation value, the transaction is priced at 289.6 million yuan after negotiation between the two parties.

Liu Feng Control Company holds 2.89%of Zhongtai Securities, and was once the "richest man in Jinan"

It is not unusual for a securities company to acquire fund companies. But it is worth noting that the actual controller of Qihe Zhongxin, the opponent of Zhongtai Securities, Liu Feng.

In this announcement, Zhongtai Securities stated that as of now, Liu Feng holds 51.84%equity of Qihe Zhongxin and Liu Feng spouse Lin Xuyan holds 48.16%of Qihe Zhongxin. In other words, Liu Feng and his wife are 100%control of Zhongxin.

As of December 31, 2021, the total assets of Qihe Zhongxin (parent company) were RMB 1.668 billion and net assets were RMB 1.056 billion; in 2021, Qihe Zhongxin (parent company) net profit was RMB 52.1587 million.

Liu Feng was originally a director of China -Thailand Securities, and Liu Feng's resume in the 2021 annual report of Zhongtai Securities showed that Liu Feng was born in October 1970. He has no right to residency abroad and university degree. Former secretary of the Laiwu Iron and Steel General Factory Office, Secretary of Shandong Huiyi Industrial Co., Ltd., Manager of Shandong Fengtong Economic and Trade Co., Ltd., Executive Director of Shandong Yongfeng International Trade Co., Ltd. (Hong Kong) Director of Industrial Co., Ltd., Director of Yongtong Xingye Development Co., Ltd., Director of Dezhou Bank Co., Ltd., Supervisor of Shandong Chuangcheng Industrial Co., Ltd., Executive Director of Yongfeng Group (Shanghai) Co., Ltd. Since June 2015, he has been a director of Zhongtai Securities.

Liu Fengneng is the director of Zhongtai Securities, which has nothing to do with the indirect holding of Zhongtai Securities.

Zhongtai Securities disclosed in the situation of shareholders: "Shandong Yongtong Industrial Co., Ltd. holds 2.89%of the company's shares, and the company's director Liu Feng and his spouse Lin Xuyan indirectly controlling Shandong Yongtong Industrial Co., Ltd. indirectly controlled Shandong Yongfeng Group Co., Ltd. Company; Texas Yuzuo Investment Center (limited partnership) holds 2.56%of the company's shares, Liu Feng, director of the company, is his limited partner. For the equity of the Development Co., Ltd., Liu Feng and his spouse Lin Xuyan can impose a significant impact on Texas Yuzuo Investment Center (limited partnership). "

The total investment in Shandong Yongtong Industrial and Texas Yuzo holds a total of 380 million shares of Zhongtai Securities, roughly estimated, the current market value of more than 3 billion yuan. Because Texas Yosuo Investment Center (limited partnership) has two other partners, even if this part of the equity is not calculated, Liu Feng is also an important shareholder of Zhongtai Securities except the actual controller.

However, Liu Feng's 2021 years of remuneration in China Thailand Securities had only 60,500 yuan.

Some people in Shandong revealed to reporters that Liu Feng was the richest man in Jinan before.His wife, Lin Xuyan, was also on the "2019 Hurun Women's Entrepreneur List", and was the only Jinan female entrepreneur on the list of the year, so it was known as the "richest man in Shandong"."Hu Run Ge Rich List" shows that Liu Feng and Lin Xuyan ranked 351st in 2019 for 11 billion wealth.In 2020, the wealth was still 11 billion yuan, but the ranking dropped to 523.In 2021, the wealth shrinks from 1 billion to 10 billion yuan, ranking 699th.

However, Liu Feng's "richest man in Jinan" has been challenged by Houlang.In the just released "2022 New Fortune 500 Rich List", Mihayou founder Cai Haoyu reached a new "richest man in Jinan" at a value of 55.3 billion yuan.Although the two lists are inconsistent, in addition, the recent disputes between Mihayou and Ministry of Field Trust have aroused heated discussions, but undoubtedly, Cai Haoyu who played the game has later settled up and drove the Liu Feng couple in the traditional industry.Fortunately.