Article | AI Finance and Economics Agency Zhang Zexiang
Editor | Lu Ming
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The reorganization of Haixin Steel, which has been seen for more than 5 years, has not yet been fully settled.
Recently, Alibaba auction website posted a piece of judicial auction information. The external receivables and dividends enjoyed by five companies including Haixin Iron and Steel Group Co., Ltd. (“Haixin Iron and Steel”) under Shanxi Haixin Group will be held in May. The online auction was held on the morning of the 21st, with a starting price of 140 million yuan. Although the shooting has not yet started, it has attracted hundreds of onlookers.
Haixin Group was once the largest private steel company in Shanxi. Its former chairman Li Zhaohui became the richest man in Shanxi in 2008 and married actress Che Xiao in 2010. When she divorced a year later, he transferred 300 million yuan in assets to Che dawn.
Li Zhaohui's father, Haixin Group founder Li Haicang, was the vice chairman of the All-China Federation of Industry and Commerce. He was shot and killed in the office in 2003. At the age of 22, Li Zhaohui was forced to interrupt his studies in Australia and return to China to inherit the Haixin Iron and Steel Group founded by his father.
Since the second half of 2014, due to the overcapacity in the steel market and the overall cooling of the market, Haixin Steel has ceased production in March 2014 and sold itself to Jianlong Steel Group in September 2015, completely withdrawing from the market.
People are gone, and the debts are still there. According to the priority of debt repayment, Jianlong Steel’s acquisition payments first pay off employees’ wages and tax arrears, and finally the company’s debts. Therefore, Li Zhaohui was also included in the list of untrustworthy persons subject to enforcement by the Supreme People's Court.
20 billion account funds 140 million starting auction
The subject of this auction is 843 receivables and 1 dividend from five companies under the Haixin Group.
According to public information, receivables include accounts receivable, prepaid accounts, and other receivables, with a book value of 2.219 billion yuan and an estimated value of 124 million yuan; dividends are enjoyed by one of the five companies of Haixin Group Dividends and undistributed profits were 15.947 million yuan.
In August 2014, Shanghai Haibo Xinhui International Trade Co., Ltd. applied to the court for the reorganization of Haixin Iron and Steel on the grounds that the respondent Haixin Steel was unable to settle the futures payment of 208 million yuan. The legal representative of Haixin Steel is Li Zhaohui.
Yuncheng Intermediate People's Court found that since January 2011, Haixin Steel has defaulted on the payment of 208 million yuan in the course of fulfilling the supply contract. On April 30, 2014, Haixin Iron & Steel wrote to Shanghai Haibo Xinhui International Trade Co., Ltd. to confirm that the situation stated was true, but due to its operating difficulties and lack of funds, it was unable to pay off the due debt. Haixin Steel has no objection to the reorganization application. In November 2014, the Yuncheng Intermediate People's Court ruled to accept the reorganization application of Shanghai Haibo Xinhui International Trade Co., Ltd. for Haixin Steel.
According to Caixin.com, after holding several creditor meetings, it was confirmed that Haixin Steel had a total debt of nearly 25 billion yuan, of which bank claims were nearly 10 billion. In addition, there are many tens of billions of debt receivables, but Haixin only repaid 2.5 million yuan.
Previously, Jianlong Group used its subsidiary Jilin Iron and Steel as the main body of mergers and acquisitions to provide Haixin Group with 3.728 billion yuan of debt service funds for equity restructuring. After the reorganization, Jianlong Group holds 100% of Haixin's equity; with Haixin Steel as the main body, after absorbing and merging the remaining four companies, it was renamed Shanxi Jianlong Iron and Steel Holdings Co., Ltd.
Since then, the original debts of Haixin Group have been stripped, and they have nothing to do with Jianlong Group. Creditors can only initiate rights protection actions against Li Zhaohui.
From the combing of public information, Li Zhaohui, the former richest man in Shanxi, is indeed out of money. On December 11, 2017, two large real estates in Beijing under the name of Li Zhaohui and three parking spaces were collected by a foreign creditor bank for 67.53 million yuan.Go, "repay debt with things."
According to Sohu Finance and Economics, the two houses are located in a high-end residential area in Beijing. The decoration has not been completed. At the same time, the door has been affixed with a court seal and auction announcement, and the water bill has not been paid for a long time. Before the auction, the court deliberately reminded the bidders, "The property does not have a real estate certificate, please bid rationally."
Li Zhaohui has already been restricted from leaving the country. In November 2018, Li Zhaohui was included in the list of untrustworthy persons subject to enforcement due to arrears of more than 50 million yuan.
According to the Yuncheng Intermediate People’s Court in charge of this auction, there are many defects in the auction target, and some receivables may have only the accounted amount, but the creditor’s rights are missing, the evidence for claiming rights is insufficient, and the money has been There is a risk that the judgment but the whereabouts of the person subject to execution is unknown and no property is available for execution. Haixin
, who was reorganized by his own family, is little known that Haibo Xinhui International Trading Company, which initiated a reorganization request to Haixin in this auction, was once spun off from Haixin Group.
In 2010, Li Zhaoxia, Li Zhaohui’s younger sister, led the reform of Haixin Group, laying off more than 1,000 cadres and increasing employee salaries by more than 20% on average. At the same time, Li Zhaoxia spun off the raw material procurement and finished product sales business from Haixin Industrial and placed it under Haibo Xinhui, the main trading company.
When Haixin Iron and Steel ceased production, Haibo Xinhui and Haixin Industrial only had business dealings, and there was no connection in terms of equity. Haibo Xinhui's equity is jointly held by three people including Li Zhaoxia.
According to reports, Haibo Xinhui and Shi Yuzhu participated in the private placement of Liaoning Chengda University. In September 2013, Liaoning Chengda issued a fixed increase plan, and it planned to raise no more than 1.856 billion yuan of funds for investment in the Xinjiang Baoming Oil Shale Comprehensive Development and Utilization (Phase I) project. There are only two subscription targets: Giant Investment of Shi Yuzhu Holdings and Haibo Xinhui.
Liaoning Chengda University's relevant announcement disclosed that Haibo Xinhui's total assets had reached 9.493 billion yuan at the end of 2012, and the annual net increase in cash flow reached 1.26 billion yuan.
In 2017, Li Zhaohui was restricted from leaving the country due to debt recovery by Meijin Energy, and Li Zhaoxia was also restricted from leaving the country. The attorney of Meijin Energy Group stated that Haibo Xinhui’s guarantor had a total of 4 entities at that time, and Li Zhaohui had to bear a quarter, or more than 50 million yuan.
Tianyan Check data shows that Li Zhaoxia still holds 99% of Beijing Ruedu Education Technology Co., Ltd. through Beijing Hejia Investment. For example, Education's subsidiary owns Beijing, such as the World Mall, and there are many early childhood education institutions in the mall. Li Zhaohui once said that he and his sister suffered huge losses when investing in projects such as children's playgrounds, with a total loss of more than one billion yuan.
However, judging from the user reviews given by the review website, the mall is well managed, and there are groups of primary and middle school students who come to the experience class.
Some people close to the Haixin Group pointed out that after the Haixin accident, the brothers and sisters of Li Zhaohui and Li Zhaoxia disappeared from people's sight. In the past, on Ching Ming Festival, the two would come back to sweep the grave of their father Li Haicang, but they have not returned for many years. The grandfather of the two, Li Chunyuan, moved to Taiyuan after 2014, but has also moved back to his old house in recent years.
