In winter and spring, the factory of global silicone giant Hesheng Silicone located in Jiaxing Port District, Zhejiang Province becomes increasingly hot. At the same time, a "secret war" between the giant's chairman Luo Liguo and former general manager Fang Hongcheng was also revealed to the public due to a public letter of complaint from Fang's wife.
▲The exterior view of Hesheng Silicon Industry’s Jiaxing Port Factory. Photo by Red Star News reporter Liu Mumu
Fang Hongcheng is a member of the Expert Committee of the China Fluorosilicone Association and has a recognized influence in the industry. Luo Liguo is the founder of Hesheng Silicon Industry. The media once revealed that he started by selling straw hats. After entering the organic silicon industry, he once became the richest man in Ningbo, Zhejiang, with a net worth of hundreds of billions.
Luo Liguo and Fang Hongcheng have been partners for more than 9 years. The two worked together to help Hesheng Silicon survive the market downturn, seize the spotlight of the photovoltaic industry, and become the industry leader, earning it the reputation of "Moutai among Silicones," or "Silicon Maotai" for short.
Luo Fang was once regarded as a model of cooperation between family business founders and professional managers, but they eventually parted ways due to different philosophies. Focusing on reality, the struggle for interests such as equity realization and market competition has made it impossible to eliminate the barriers between them.
At present, the case of Fang Hongcheng, who was suspected of bribery by non-state personnel and job embezzlement due to a report by Hesheng Silicon Industry, is in session at the People's Court of Pinghu City, Zhejiang.
"A model of high-level partnership in the industry"
In November 2023, a public letter of complaint signed by "Sun Lichen" caused an uproar in the capital market. The target of the report letter is directed at Luo Liguo, a billionaire and chairman of A-share listed company Hoshine Silicon Co., Ltd. (stock code: 603260; hereinafter referred to as Hoshine Silicon), claiming that he "framed Zhongliang" on the grounds of relocating the company's registered place. "Blackmail" the local people in Jiaxing.
▲Hopson Silicon’s office building in Jiaxing Port Area. Photo by Red Star News reporter Liu Mumu
Sun Lichen said in the report letter that she is the wife of Fang Hongcheng, the former general manager of Hesheng Silicon Industry. Fang Hongcheng worked for Luo Liguo for many years and was a contributor to the listing of his company, but was eventually framed by him and was charged with a crime. Trapped in jail, "I have no choice but to write to the relevant agencies and leaders, requesting that such vicious cases of retaliation against private entrepreneurs be taken seriously."
At present, Fang Hongcheng is being held in the Tongxiang Detention Center in Jiaxing, Zhejiang, and the prosecutor has accused him of committing a crime. Crimes of bribery and job embezzlement by non-state staff. The case was originally scheduled to be heard in the Pinghu People's Court of Jiaxing City on November 13 last year. However, due to the delay in the pre-trial conference, the family further raised jurisdictional objections and requested that the case be transferred to a court outside Jiaxing City for trial to "eliminate interference." This case was heard twice in the Pinghu Municipal People's Court on January 29 and 30 and March 18 and 19 this year, and the trial has not yet concluded.
According to previous media disclosures, Luo Liguo is from Changhe Town, Cixi, Ningbo, Zhejiang. Because the local people are proficient in straw hat weaving technology, in 1988, 33-year-old Luo Liguo "went overseas" from a state-owned enterprise and established a handicraft factory with 20,000 yuan of capital. Later, the The factory expanded into "Hop Shing Hat Industry". After
, Luo Liguo entered real estate and then turned to the field of silicone, which is widely used in electronics, medical and other industries. Hesheng Silicon, of which Luo Liguo is the chairman, is a family-owned company that was listed on the A-share market in 2017. In recent years, due to the prosperity of the photovoltaic industry, Luo Liguo was able to sit on a net worth of 100 billion and once became the richest man in Ningbo.
▲Luo Liguo Picture according to the official website of Hesheng Silicon Industry
Fang Hongcheng is from Kaihua County, Quzhou, Zhejiang, and originally worked in an organic silicon factory in Kaihua. In a previously published self-report, Fang Hongcheng introduced that Quzhou Kaihua is "one of the cradles of the development of organic silicon in modern China", with many silicone industry factories and many technical and market talents in the silicone field.
Fang Hongcheng said that before he joined Hesheng Silicon Industry, Luo Liguo conducted "a year-long communication and invitation" with him. Fang Hongcheng joined Hesheng Silicon Industry in October 2009 and served successively as deputy general manager, general manager and director.
▲Data map: Fang Hongcheng
At that time, Hesheng Silicon was a new company entering the silicone monomer industry. “There is a shortage of professional talents, chaotic management, and frequent safety and environmental accidents."According to Fang Hongcheng's account, in April 2011, he "was appointed at the critical moment" and was promoted from the deputy general manager in charge of marketing to the general manager.
Sun Lichen and other family members said that after Fang Hongcheng joined Hesheng Silicon, he "focused on the front line of Hesheng Silicon's production. ", who spent six consecutive New Year's Eves in the factory. According to many industry insiders who are familiar with Fang Hongcheng, Fang Hongcheng's strength lies in corporate management. After he served as general manager, Hesheng Silicon Industry survived the market downturn and suffered widespread losses in the industry. Under such circumstances, Hesheng Silicon has always maintained a certain level of profitability.
Fang Hongcheng himself attributed the development and growth of Hesheng Silicon in part to the care of Jiaxing Port District (where the headquarters of Hesheng Silicon is located). In 2017, Hesheng Silicon was successfully listed on the A-share market. To During this successful entrepreneurial experience, Fang Hongcheng described that Chairman Luo Liguo and him, a professional general manager, "trusted each other and worked together to form a high-level cooperative relationship that can be regarded as a model in the industry."
Four years after his resignation, he was suspected of "job embezzlement"
After years of experience, Fang Hongcheng himself has also grown into a member of the Expert Committee of the China Fluorosilicone Association. Many industry insiders commented that he is one of the "few people in the silicone industry who has a deep understanding of finance, marketing, production, technology, capital operation, management system, etc." "One of the experts who understands".
▲ One of the awards received by Fang Hongcheng. Picture provided by the interviewee
However, the "model cooperative relationship" between Fang Hongcheng and Luo Liguo only lasted for 9 years. On December 7, 2018, Fang Hongcheng presented to The company proposed to resign. On December 11 of that year, Hesheng Silicon Industry issued an announcement saying, "It received a written resignation report from director and general manager Fang Hongcheng. Due to personal reasons, Fang Hongcheng applied to resign from the company's director, general manager, and member of the board of directors' strategy committee." "
" Fang Hongcheng will no longer hold any position in the company after his resignation. "Hopson Silicon said at the time that Fang Hongcheng "made positive contributions in promoting the company's innovation and development" while serving as the company's director and general manager; the company's board of directors expressed its heartfelt gratitude to Fang Hongcheng for his contribution to the company's development. Thank you."
4 years later, on the evening of November 21, 2022, Hesheng Silicon issued another announcement involving Fang Hongcheng. At this time, Hesheng Silicon changed a completely different tone.
The announcement stated that Hesheng Silicon that year On November 18, we learned from the public security agency that the company’s former director and general manager Fang Hongcheng was suspected of job embezzlement. The investigation by the public security agency has been completed and transferred to the procuratorate for review and prosecution. “The criminal behavior involved occurred during his tenure at the company.”
合Sheng Silicon Industry stated in the announcement that although Fang Hongcheng had resigned from the company in December 2018, after his resignation, the company discovered that he had committed criminal acts that infringed on the company's interests during his employment, which have now been investigated and verified by the public security organs. Fang Hongcheng harmed the company. "Hopson Silicon has separately reported the case to the public security organs for other criminal acts involving interests."
In the announcement, Hopeson Silicon emphasized that the above cases were discovered by the company's "internal self-examination" and the case is currently in the review and prosecution stage of the procuratorial organ. The above matters are not It will have a significant impact on the company's performance. "The company has 'zero tolerance' for corruption and will strive to build an honest, self-disciplined, efficient and pragmatic professional management team to reward all investors with practical actions." "
▲The "Ten Prohibitions on Supplier Relationships" published outside Hesheng Silicon's Jiaxing Port Factory. Photo by Red Star News reporter Liu Mumu
Fang Hongcheng himself denied corruption. Recently, in a detailed self-report material, Fang Hongcheng said that the reason why he resigned , there was a fundamental disagreement with Luo Liguo on whether the company's registered place should be changed.
Fang Hongcheng said that Hesheng Silicon was the first and the only company in Jiaxing Port Area to go from attracting investment to construction, production and operation. , cultivated A-share listed companies, are very important to the port area and even Jiaxing as a whole. At its peak, the market value of Hesheng Silicon Industry was 260 billion, and its importance to the Jiaxing Port Area is self-evident. "But during my many communications with Luo Liguo We learned that Luo Liguo wanted to change his registration place to his hometown of Cixi, Ningbo. ”
Fang Hongcheng strongly opposed the idea of changing the registration place.Fang Hongcheng said in his self-reported open letter that during the listing process of Hesheng Silicon, Jiaxing governments at all levels went all out and supported it, helping Hesheng Silicon establish academician workstations, identify provincial key enterprise research institutes, and award the "Jiaxing Mayor Quality Award".
Fang Hong admitted that the Jiaxing Port District has done a lot of work for the listing of Hesheng Silicon, and Hesheng Silicon must not forget the port. For this reason, he has always emphasized to Luo Liguo that "the company's registration place cannot be changed." He reported and communicated with the leaders of the port area to strive for more investment in the port area, and proposed a plan to build a new headquarters office building, R&D building and employee dormitory in the port area, but they were all rejected by Luo Liguo, "This matter has been stuck in my heart. "
"Equity Incentive" Debate
In fact, the difference of opinion on whether to change the "registration place" may just be the trigger for Luo and Fang to completely break up or even go to court.
Red Star News reporters have obtained more than a dozen judicial materials, which show that before Hesheng Silicon publicly disclosed that former general manager Fang Hongcheng was suspected of job embezzlement, Fang Hongcheng and Luo Liguo actually had a dispute over equity realization, non-competition agreement, etc. A "secret war" that lasted for many years. According to Fang Hongcheng's family, the equity was worth hundreds of millions upon sale, and Luo Liguo found excuses to refuse to cash out.
According to multiple civil judgments and other judicial materials issued by Jiaxing Intermediate People’s Court, Pinghu People’s Court and other units in Zhejiang Province, in 2021, Fang Hongcheng took Ningbo Yingrong Enterprise Management Consulting Co., Ltd. (Hesheng Silicon Industry Shareholding Platform) to court. , requesting the court to order the defendant to sell the 420,000 third-party Hesheng Silicon shares in his name on the open market within three days from the date of the judgment, and to exercise the proceeds from the sale after deducting the defendant's operating expenses and profits on the next day. Fees and personal income tax shall be paid to the plaintiff.
Judicial materials show that the plaintiff Fang Hongcheng said that the plaintiff has served as a third-party general manager since 2011. During this period, a third party implemented an employee equity incentive plan. The plaintiff, the defendant and the third party signed the "Equity Incentive Agreement of Hesheng Silicon Industry Co., Ltd." (hereinafter referred to as the "Equity Incentive Agreement"). In the end, the plaintiff actually held 420,000 shares and should receive Cash dividend is 121,800 yuan. On February 1, 2021, the plaintiff required the defendant to sell the 420,000 shares involved in the case and pay the proceeds from the sale and dividends in full to the plaintiff after deducting relevant necessary expenses. However, the defendant failed to perform the above obligations.
Hesheng Silicon Industry responded that the plaintiff did not meet the conditions for obtaining equity incentives and did not enjoy the equity involved in the case. The plaintiff violated Article 1, Paragraph 4 of the Equity Incentive Agreement signed by both parties and Article 1 of the related Supplementary Agreement. After the agreement was signed, the plaintiff resigned on December 11, 2018. He had not worked for the third party for five years, failed to perform his duties diligently, violated the company's rules and regulations and confidentiality system, and harmed the company's interests. Therefore, the plaintiff does not have the conditions to obtain equity incentives and does not enjoy the equity involved in the case. During his tenure, the plaintiff broke his promise, seriously harmed the interests of a third party, and "caused hundreds of millions of yuan in losses" to the third party and the company actually controlled by the third party.
▲Pinghu Municipal People’s Court. Photo by Red Star News reporter Liu Mumu
The Equity Incentive Agreement involved in the case was signed in 2015, and the related Supplementary Agreement was signed in 2018. Red Star News reporter noted that in the "Supplementary Agreement", Fang Hongcheng should serve Hesheng Silicon or its subsidiaries for at least five years from the date he obtained the equity incentive, that is, from October 1, 2015 to September 30, 2020.
Regarding the disputes between the two parties, the People's Court of Pinghu City tended to identify two different legal relationships. The court believed that the "Equity Incentive Agreement" and "Supplementary Agreement" involved in the case were true expressions of the parties' intentions, and the plaintiff obtained the incentive equity. It is based on the employment relationship with a third party. After obtaining the incentive equity, he must continue to serve the company for 5 years and faithfully perform his duties. If there is a breach of contract, the company will hold the employee legally responsible.
"Five years of service and faithful performance of duties, not engaging in horizontal competition, and not harming the company's interests are not conditions for obtaining incentive equity, but are obligations that should be fulfilled after obtaining incentive equity. The plaintiff should bear legal liability if he fails to fulfill the corresponding obligations. Rather than losing the incentive equity. If the plaintiff has acted in a way that harms the interests of a third party and causes the third party to suffer losses, the third party can also file a separate claim."Pinghu Municipal People's Court stated.
On March 28, 2022, the Pinghu Municipal People's Court of Zhejiang Province issued a (2021) Zhejiang 0482 Minchu No. 1818 civil judgment on the dispute over this contract. The defendant Ningbo Yingrong Enterprise Management Consulting Co., Ltd. was sentenced in the judgment. Within 30 days from the effective date, he will sell the 315,000 A shares of Hesheng Silicon Industry Co., Ltd. held by the third party in the open market, and pay the proceeds after deducting transaction taxes and fees within 15 days after all sales are completed. To the plaintiff Fang Hongcheng.
The "sudden turn" of the equity dispute
Regarding the aforementioned judgment, the defendant Ningbo Yingrong Enterprise Management Consulting Co., Ltd. and the third party were not satisfied and appealed to the Jiaxing Intermediate People's Court. On November 29, 2022, Jiaxing City The Intermediate People's Court issued a civil ruling [(2022) Zhejiang 04 Min Zhong No. 1670 No. 1], revoking the original judgment and dismissing Fang Hongcheng's prosecution.
In this civil ruling, the Jiaxing Intermediate People's Court revoked the original judgment and dismissed the lawsuit. The court gave an explanation for rejecting Fang Hongcheng's prosecution. The court said that the court found that Hesheng Silicon had accused Fang Hongcheng of criminal acts such as job embezzlement. The Hong Kong Branch of Jiaxing Municipal Public Security Bureau issued a "Notice of Acceptance of the Case" on November 12 of that year, informing Hesheng Company: "Your unit has made a supplementary accusation against Fang Hongcheng for tampering with the equity incentive agreement and embezzling the company's property without authorization. Our bureau believes that this case is the same suspect as the case of Hesheng Company's occupational embezzlement, and the case has been merged for investigation."
Jiaxing City Intermediate People's The court held that Fang Hongcheng’s claim that he had obtained the incentive equity involved in the case and his request to Yingrong Company to sell the equity to realize the equity was based on the Equity Incentive Agreement signed between him and Yingrong Company and Hesheng Company. Now Hesheng Company is filing a complaint with the public security organ Fang Hongcheng was suspected of tampering with the provisions of the Equity Incentive Agreement and misappropriating company property without permission. Fang Hongcheng was also investigated by the public security organs for suspected economic crimes. The disputes related to the Equity Incentive Agreement fell within the scope of investigation by the public security organs. The People's Court, as an economic crime If a case accepted for dispute is considered not to be an economic dispute but is suspected of economic crime, the prosecution should be dismissed and the relevant materials should be transferred to the public security organs or procuratorial organs.
Fang Hongcheng’s family believes that this case’s “sudden turn” in Jiaxing Intermediate People’s Court ", closely related to a "Situation Statement" from the same period - on May 10, 2022, the Jiaxing Municipal Public Security Bureau Hong Kong Branch sent a "Situation Statement" to the Jiaxing Intermediate People's Court, saying that the case being handled by Jiaxing Intermediate People's Court The equity transfer dispute case between Sheng Silicon Industry and Fang Hongcheng has a certain correlation with the case of Fang Hongcheng suspected of accepting bribes by non-state personnel, which was previously investigated by the Hong Kong Branch.
"Situation Statement" disclosed that the case was closed on December 31, 2021 due to "the involvement of The case was withdrawn because the price of hydrolyzed oil could not be appraised and other reasons." On March 31, 2022, in order to "properly handle the disputes between Hesheng Silicon Industry Co., Ltd. and ensure that the company can develop in Jiaxing with peace of mind", the Jiaxing Municipal Development and Reform Commission, Jiaxing Price Certification Center, Pinghu The Municipal Development and Reform Bureau and other units formed a leading group for the preliminary work on Hesheng Silicon Industry’s price determination matters, and carried out preliminary work under the guidance of the Zhejiang Provincial Price Determination Center. “At present, the Hong Kong Branch has sent a copy of the preliminary entrusted price appraisal materials for Fang Hongcheng’s suspected crime to Leadership Team".
"Hydrolysis Oil" and Criminal Charges
Earlier on December 31, 2021, a "Decision to Cancel the Case" made by the Jiaxing Municipal Public Security Bureau's Hong Kong Branch showed that the bureau handled the case of Fang Hongcheng suspected of accepting bribes by non-state staff. , the decision was revoked due to "no criminal facts".
▲The "Decision to Cancel the Case" issued by the Jiaxing Municipal Public Security Bureau Hong Kong Branch. Photo provided by the interviewee
On May 28, 2022, Hoshine Silicon Industry issued an announcement announcing that it would change the company's domicile from "Pinghu City, Zhejiang Province" to "Cixi City, Ningbo City, Zhejiang Province". On June 8 of that year, Hoshine Silicon issued another announcement: According to the company's operation and management needs, the company's domicile will not be changed temporarily. The third extraordinary shareholders' meeting of 2022 was originally scheduled to be held on June 13 to review the above resolution. The shareholders' meeting was also cancelled. .
Fang Hongcheng’s wife Sun Lichen said that coincidentally, Fang Hongcheng happened to be summoned and detained on June 13, 2022, and was placed under “residential surveillance” the next day, and then lost his freedom.Based on this, she believes that the combination of the "Decision to Cancel the Case" and the two announcements of Hopes Silicone is sufficient to prove that Hopes Silicone and Luo Liguo "coerced the local people in Jiaxing on the pretext of relocating the listed company, causing Fang Hongcheng to be imprisoned and then evading realization of its equity interests”.
Red Star News reporter noticed that in addition to the equity incentive lawsuit, there is also a shareholding lawsuit between Fang Hongcheng and Luo Liguo that has been concluded.
According to the Hangzhou Arbitration Commission (2021) Hang Zhong 02 Cai Zi No. 155 "Award" and the Hangzhou Intermediate People's Court (2022) Zhe 01 Minte No. 70 "Civil Ruling", Luo Liguo should consolidate 340,676 shares. The shares of Sheng Silicon Industry Co., Ltd. will be reduced through centralized bidding transactions, and the proceeds from the reduction (after deducting transaction taxes and fees) will be paid to the applicant Fang Hongcheng on the trading day following the end of the shareholding reduction.
Hangzhou Intermediate People's Court (2022) Zhejiang 01 Minte No. 70 "Civil Ruling" stated that Luo Liguo submitted to the court the "Statement of Situations" issued by the Hong Kong Branch of the Jiaxing Municipal Public Security Bureau on April 8, 2022, requesting Proceedings in this case were suspended. In this regard, the Hangzhou Intermediate People's Court held that Luo Liguo's request "does not comply with the circumstances required by law to suspend litigation" and therefore did not grant it. This "Situation Statement" was sent to the Hangzhou Intermediate People's Court, and its content was the same as the aforementioned "Situation Statement" sent to Jiaxing Intermediate People's Court by the Hong Kong Branch.
▲"Situation Statement" issued by the Jiaxing Municipal Public Security Bureau Hong Kong Branch on April 8, 2022. Photo provided by the interviewee
Red Star News reporters found that the "hydrolyzed oil" mentioned in the "Situation Statement" was mentioned many times in many judicial materials or "award", and the sales and profits of "hydrolyzed oil" , also became the "fact" for the two criminal charges against which Fang Hongcheng was later charged.
Luo Liguo said that when Fang Hongcheng was the general manager of Hesheng Silicon, he sold all the hydrolysis oil of Hesheng Silicon to Quzhou Juyou Chemical Co., Ltd., and obtained huge profits from it, which seriously damaged the interests of Hesheng Silicon. "Quzhou Juyou Chemical Co., Ltd. was established in 2011 by Fang Hongcheng's younger brother Fang Hongxing, and the actual controller is Fang Hongcheng."
Low boilers are a by-product of the silicone production process, which can be turned into hydrolyzed oil after processing. Luo Liguo explained to the Red Star News reporter that at that time, Hesheng Silicon was developing a device for processing low-boiling substances. “This device is like a steamer, and the hydrolyzed oil is like a steamed bun. Before the steamer was made, Fang Hongcheng sold the unfinished steamed buns. ."
In the relevant self-report written materials, Fang Hongcheng explained the silicone production process in the form of chemical equations. He said that when he took office as the general manager of Hesheng Silicon Industry, the factory's process technology was backward, costs remained high, and there were outstanding issues such as safety and environmental protection. "Low boilers" are complex, flammable, explosive and corrosive, and their disposal requires a lot of money.
The "steamer" that Luo Liguo metaphorically refers to is Hesheng Silicon's "low boiling hydrolysis project". "This is an illegally built project by Hesheng Silicon to ensure continued production and reduce costs." Fang Hongcheng disclosed in written materials that the "low boiling hydrolysis" device can process low-boiling substances into "hydrolysis oil" that Hesheng Silicon calls itself. As a low boiling substance, hydrolysis oil is less corrosive, "but it is still a dangerous oily chemical with complex composition, flammable and explosive properties."
Fang Hongcheng explained that if the hydrolysis oil of Hesheng Silicone Industry is not disposed of in time, it will cause the company to stop production. To this end, Hesheng Silicon Industry asked Fang Hongcheng’s younger brother Fang Hongxing to use his connections and market advantages in his workplace and his hometown of Quzhou Kaihua to help find a way to dispose of Hesheng Silicon Industry’s hydrolyzed oil.
On June 13, 2023, both Fang Hongxing and Fang Hongcheng were taken away by the police. Although Fang Hongxing is not an employee of Hesheng Silicon, he is also accused of bribery by non-state personnel and job embezzlement.
Fang Hongcheng admitted that his younger brother Fang Hongxing "obtained benefits" from helping Hesheng Silicon dispose of such hazardous chemicals, but "Luo Liguo was aware of this process" and there was no possibility that he handled it privately without authorization.Fang Hongcheng said that as the second phase of the Hesheng Silicon Industry project was put into operation, the output of "low boiling substances" increased and the national environmental protection control became stricter. How to deal with low boiling substances has become the most serious and urgent issue before the listing of Hesheng Silicon Industry. Fang Hongxing assisted in handling it. The hydrolyzed oil that caused a headache for Hesheng Silicone during the listing process, "Hesheng Silicone is the biggest beneficiary."
"If found not guilty, I will cash in his equity"
Red Star News reporter learned that Fang Hongcheng resigned from Hesheng Silicone Later, in 2019, with the help of friends and experts in the silicone industry, they jointly established Zhejiang Xianglin New Materials Co., Ltd. and Zhejiang Yingke New Materials Co., Ltd., which are controlled by them. The two companies made profits the year they were put into production, and one of them made a profit. The company provides high-end silicone materials to Huawei.
Fang Hongcheng’s family said that Fang Hongcheng started his own business, which “made Luo Liguo very panicked.” Luo Liguo pointed out that Fang Hongcheng’s establishment of a company after leaving Hesheng Silicon violated the no-business agreement between the two parties, but Fang Hongcheng said that his newly established company "There is no competitive relationship" with Hesheng Silicon Industry. An industry expert who is familiar with both Luo and Fang told the Red Star News reporter that Fang Hongcheng plays a decisive role in the industry. After he was taken away by the police, all the projects he participated in were affected. Some units even issued a document asking him to "as soon as possible" Return to work."
For example, a letter from the People's Government of Gujiao City, Taiyuan, Shanxi Province to the Jiaxing Port Area Management Committee on July 10, 2022 stated that the "Zhonglai Project" is a major strategic layout project planned by Shanxi Province, and Fang Hongcheng is the project construction The role of the key technical personnel in the implementation is difficult to replace. "In order to ensure the smooth implementation of the Jolywood project in Gujiao City, the People's Government of Gujiao City kindly requests your management committee to coordinate with relevant units and support Fang Hongchenglai without violating relevant laws." Our city is carrying out relevant work for the Joilai project."
▲The Gujiao Municipal People's Government sent a letter to the Jiaxing Port District Management Committee (partial screenshot)
Red Star News reporters noticed that Fang's wife's letter of complaint has recently had a huge impact on the capital market . On November 13, 2023, the Shanghai Stock Exchange issued a regulatory work letter to Halcyon Silicon Industry regarding media reports related to Halcyon Silicon Industry, involving listed companies, directors, supervisors, senior managers, controlling shareholders and actual controllers.
Luo Liguo himself explained to the Red Star News reporter that Fang’s wife’s report was untrue, and that the relevant departments’ investigation of Fang Hongcheng was a clue discovered by Hesheng Silicon Industry, as a listed company, after auditing the resigned executives. “If Fang Hongcheng is ultimately found innocent, If it is a crime, I will cash in his equity."
Late at night the next day after the Shanghai Stock Exchange issued the work letter, Halcyon Silicon issued a "solemn statement" on its official WeChat public account, saying that Fang's wife, Sun Lichen, published false information through the public Internet, and was responsible for The reputation of the company's chairman Luo Liguo has been seriously damaged. In order to protect the legitimate rights and interests of all the company's investors and chairman Luo Liguo, Fang Hongcheng and his wife Sun Lichen published false information on the Internet to slander the company's chairman. The company will investigate in accordance with the law. its legal responsibilities.
▲Hesheng Silicon issued a "Solemn Statement"
Hesheng Silicon stated in the statement that the Pinghu Municipal People's Court is trying the case of the defendant Fang Hongcheng, a non-state employee, for bribery and job embezzlement. On November 13 and 14, 2023, A pre-trial conference is held and the trial is about to begin. "The company believes that the court will definitely find out the criminal facts of the defendant Fang Hongcheng in accordance with the law and make a fair judgment in accordance with the law."
The next day, Fang Hongcheng's family also made a statement on the Internet regarding Hesheng Silicon's "Solemn Statement", saying that the original court session was changed to a court hearing. At the previous meeting, the court session has been postponed, and the official court date has yet to be notified by the court. However, people who are interested in the case are welcome to attend the case hearing. The statement read: "As for whether Fang Hongcheng really committed a crime or was framed... everything will be revealed in a public court."
Red Star News reporter Liu Mumu intern Liu Pinhan Posted by Zhejiang
editor Zhang Xun Li Binbin
