Zebra Consumer Shen Tuo The effect of Zhongzhi’s thunderous explosion is rapidly being transmitted to the listed companies it invests in and controls. Recently, Mejim, a listed early childhood education company, has experienced a series of major personnel shocks. The chairman res

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zebra consumption Shen Tuo

's plant-related explosive effect is rapidly being transmitted to the listed companies it invests in and controls.

Recently, Mejim, a listed early childhood education company, has experienced a series of major personnel shocks. The chairman resigned after losing contact, and the general manager who knew the business best was fired. Subsequently, Jin Hui, the legal director who only joined the company in 2022, took over the positions of general manager and chairman one after another as if he was on a rocket.

, a 36-year-old young man, has no background in the education industry and no experience in running a large enterprise. This personnel arrangement aroused strong dissatisfaction among the directors who represent the interests of the second shareholders. The company

has suffered huge losses for three consecutive years and is expected to still be unable to turn around its losses in 2023. Jin Hui seems to have great power, but he is actually sitting on a huge powder keg.

With the bankruptcy and liquidation of Zhongzhi Group, a large number of listed companies it invested in will undergo major changes.

Zebra Consumer Shen Tuo The effect of Zhongzhi’s thunderous explosion is rapidly being transmitted to the listed companies it invests in and controls. Recently, Mejim, a listed early childhood education company, has experienced a series of major personnel shocks. The chairman res - Lujuba

Legal director was promoted to chairman

After the boss behind the scenes, "Zhongzhi Department" announced the explosion, many listed companies controlled by it immediately experienced great turmoil, and Megim was no exception.

Changes first occurred in the company's senior personnel. In September 2023, two vice presidents resigned; in December, general manager Liu Junjun was fired and chairman Ma Hongying resigned.

Liu Junjun is one of the original major shareholders and actual controllers of Tianjin Meijim, the most important subsidiary of Mejim. In 2018, as Tianjin Meijim was acquired by Third Base Holdings (later renamed "Meijim"), it became a listed company. Later, Liu held many important positions such as chairman and general manager of listed companies for a long time.

Ma Hongying was born in 1985 with a financial background. In August 2015, she joined Zhongzhi Group as the financial director. In July 2022, he was elected as the chairman of Mejim. Before her resignation, Ma Hongying lost contact for a time in November 2023.

In a short period of time, the first and second leaders resigned one after another, and Jin Hui, who was born in 1988, received a rocket promotion.

Jin Hui has worked in many financial institutions. In September 2022, he joined Mejim as the legal director. On November 3, 2023, Zhuhai Rongcheng, the controlling shareholder of Mejim, added a temporary proposal to the board of directors, proposing to elect Jin Hui as a non-independent director. On November 16, Jin Huijing was successfully elected at the shareholders' meeting.

However, there was great opposition from the board of directors to the subsequent dismissal of Liu Junjun as general manager and the appointment of Jin Hui as the new general manager. Directors Yu Yang and Guo Donghao and independent director Feng Junbo voted against the above two motions. They believe that in order to stabilize people's hearts when the chairman loses contact, it is not appropriate to make drastic adjustments to the senior management team. Moreover, the new general manager has no background in the education industry, does not conform to the logic of company management, and cannot guarantee the interests of small and medium-sized shareholders.

However, the objections of the three directors failed to influence the outcome.

On January 10 this year, Mejim (002621.sz) held its board of directors again and decided that Jin Hui would fill Ma Hongying's vacancy and serve as the company's chairman. In this regard, the above three directors abstained from voting. The reason is that there are doubts about Jin Hui's qualifications for the position of chairman.

It is worth noting that Yu Yang and Guo Donghao represent the former controlling shareholder of the listed company and the current second largest shareholder Yu Miemou.

Business has shrunk

Mejim, formerly known as Third Base, was listed on the main board of the Shenzhen Stock Exchange in 2011. In the early days, it was mainly engaged in the research and development, production and sales of complete sets of plastic pipe manufacturing equipment.

In 2018, the company promoted business transformation and acquired 100% of the equity of Tianjin Meijiem held by Huo Xiaoxin, Liu Junjun, Liu Yi and other five people in cash at a consideration of 3.3 billion yuan and a value-added rate of 2059.28%.

Tianjin Meijimu is mainly engaged in the authorized operation of Meiji franchised early education centers. "Mejim" is an early education brand founded in California, USA in 1983. It has opened children's education centers in dozens of countries across the country and has a certain brand awareness in the global early education field.

Mejim introduced Mejim’s model into China and opened early childhood education centers across the country through the franchise model. Revenue mainly comes from collecting various service fees from franchisees and product sales, and has strong profitability. After the completion of the

transaction, the listed company will not only be able to achieve business transformation, but also significantly improve its performance level.

In April 2019, Third Base Holdings officially changed its name to Mejim.

Tianjin Meijiem’s high valuation corresponds to higher performance expectations.

Original shareholders such as Huo Xiaoxin, Liu Junjun, and Liu Yi promised that from 2018 to 2020, Meijem's actual net profit will be no less than 180 million yuan, 238 million yuan, and 290 million yuan respectively.

Meijem has lived up to expectations. In 2018 and 2019, it achieved non-net profits of 191 million yuan and 238 million yuan respectively, fulfilling its performance commitments.

With the consolidation of Meijiem’s performance, listed companies have also experienced continuous performance increases. In 2018 and 2019, the company's net profit attributable to parent companies increased by 49.78% and 137.35% year-on-year respectively.

However, such good days did not last. In 2020, the external unfavorable environment suddenly came and severely impacted Meiji's offline early childhood education business. In that year, Meijem achieved non-net profit deductions of 97 million yuan, which was far from its performance commitments. In 2020, the listed company made provisions for goodwill impairment of hundreds of millions of yuan, which directly caused the company's net profit attributable to its parent company to plummet by 499.41%, with a loss of 478 million yuan. In view of the special situation in 2020,

has adjusted its performance commitment for that year to 2021 after consultations with multiple parties, with the promised net profit rising to 301 million yuan. But when it came time to check out again, Meijiem's ​​actual non-net profit was 129 million yuan, and the bet had not yet been completed.

Affected by the impairment of goodwill caused by the decline in the performance of important subsidiaries, Mejim suffered consecutive losses of 198 million yuan and 440 million yuan in 2021 and 2022, and continued to lose 153 million yuan in the first three quarters of 2023. After the bankruptcy of

Zhongzhi,

third-base shares were originally controlled by the Yu Jianmei family. In November 2016, Yu Jiamian, Yu Yang and his son signed an agreement with Zhuhai Rongcheng, a subsidiary of Xie Zhikun Zhongzhi, to sell 29.5228 million shares of the listed company (accounting for 13.12% of the company's total share capital) at a price of 4.065 yuan per share for a total of 1.20 billion yuan. , at the same time, the voting rights corresponding to 15.88% of the equity were entrusted to the other party for exercise. After the transaction was completed, Zhuhai Rongcheng obtained the voting rights corresponding to 29% of the equity, and Xie Zhikun became the new actual controller of the listed company.

After 2017, Zhuhai Rongcheng successively acquired part of the equity from Yu Jiamian and Yu Yang and his son. As of now, its shares in listed companies are 30.18%.

It was under the leadership of the Zhongzhi Department that Third Base Co., Ltd. achieved business transformation and changed its name.

Xie Zhikun is a low-key and mysterious capital tycoon in China. His other identity is the husband of the famous singer Mao Amin. Xie Zhikun's Zhongzhi Department covers multiple business sectors such as trusts, wealth companies, M&A funds, new finance, new energy and mining, and controls and participates in dozens of listed companies.

In 2021, Xie Zhikun ranked 241st on the Hurun Rich List with a wealth of 26 billion yuan.

Never thought that on December 18, 2021, Xie Zhikun died of a sudden heart attack at the age of 61. Suddenly, the huge capital empire of the Zhongzhi Department fell into a state of leaderlessness.

Xie Zhikun's nephew Liu Yang was appointed to take charge of the Zhongzhi Department of Agriculture, but he failed to hold on to the family business.

In November 2023, Zhongzhi Group issued a letter of apology to investors, revealing that it was seriously insolvent and had a shortfall of hundreds of billions, announcing a thunderstorm.

On January 5 this year, Beijing No. 1 Intermediate Court reported that Zhongzhi Enterprise Group applied for bankruptcy liquidation to the court on the grounds that it could not pay off its due debts, its assets were insufficient to pay off all debts, and it clearly lacked solvency. The application has been accepted.

With the advancement of the bankruptcy and liquidation procedures of Zhongzhi Group, a large number of listed companies controlled by it will also undergo batch changes of ownership.

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