St Square source major shareholder forged official seal guarantee Loan 4 executives angrily resigned

St FountainVest before the President of the truth: the big shareholder forged official seal guarantee loans, four senior executives angrily resigned May 14, the St side source of a reluctant to disclose the name of the employees, Fang Tatsu HuanYu has been discontinued, workers have been five months did not get wages, the factory inside the water and electricity has stopped. Oriental Morning Post Finance weekly newspaper reporter/Lynch one months St FountainVest (600656) Four senior executives resigned successively. The industry has widely speculated that this is related to the inability to meet performance standards. And just resigned St FountainVest former president Xuzhi to finance a weekly, said, "who left who assume responsibility, then someone will go." "As to what responsibility to bear?" Xuzhi is also directed at the St Square source of the actual control of Machong.　　Xuzhi said that the recent uproar of the illegal secured loan incident, the actual is Machong forged the company's seal to do it, and did not pass the resolution of the Board.　　Executive resignation to avoid responsibility April 7, St FountainVest president Xuzhi resigned, by the company's vice president, chief Financial Officer Liu Xiaofeng took its scepter. May 11 Night St Square Source announcement, the board of directors on May 11 received the company President Liu Xiaofeng submitted a written resignation application. After the news, the industry was in an uproar.　　Before the company's board of Directors re-appointment of the President, by the Chairman of Mr. Machong president of the responsibility. This is St FountainVest in the last 34 days, received the second CEO resignation application. April 7 This year, St FountainVest, the original president of Xuzhi for personal reasons to resign as president, the company then Vice President, Chief Financial Officer Liu Xiaofeng later on behalf of the President of the Office. And this opened the St FountainVest executive resignation of the big curtain. April 8, director Tang Jianping resigned. April 24, Vice President Deng Yuchao resigned.　　In addition, May 8, staff representative Lei Yanhua also submitted his resignation to the board of directors. May 14 Night, St FountainVest issued a notice that, in view of the reasons for the Tang Jianping resignation of the director, the Board of Directors elected Rovenhei the company's sixth session of the Board of directors candidates; The board also agreed to adjust some of the company's executives: among them, agreed to Liu Xiaofeng for personal reasons to resign the company president,　　Hired Rovenhei as president of the company.　　In this regard, the market people have speculated whether the turnover is related to the company's performance losses. Liu Xiaofeng to reporters: "I resigned for personal reasons." Has nothing to do with company performance.　　According to Liu Xiaofeng I revealed that there is no clear future goals, in the end is to stay in the company or leave is not conclusive. Data show that Liu Xiaofeng once served at Pudong Bank. He was deputy director of the Investment and Development Department of the Group in 2006 and was promoted to vice president of the company one year later. It is in Liu Xiaofeng in 2006, the Ministry of Development and Investment, backdoor group Huayuan Pharmaceutical changed its name to St-side source. This shows that in the St. FountainVest borrow shell restructuring behind, there are Liu Xiaofeng credit.　　However, less than a year after the reorganization, the company's backbone members left, the industry began to speculate on what behind the hidden reasons. There has been a market rumor that St FountainVest executives resigned because of the performance and debt disputes are too much pressure.However, in St-source former President Xuzhi, director Tang Jianping, Vice President Deng Yuchao have resigned to leave, St FountainVest chairman Machong to the media that the Xuzhi resignation is personal reasons, not because the company performance is not good. Earlier, Machong in the media interview denied that the executive resignation is due to the reasons for performance assessment, he said, is purely personal reasons, both are to go out to start their own business. And Xuzhi's words point: "The idea is not, in order to avoid the infighting I voluntarily quit 1 so, what is the truth?" Xuzhi a weekly financial report that explains: "Who leaves who to take responsibility, then someone else will go." "Xuzhi more is to be directed at St Square source actual control person Machong."　　Xuzhi said that the recent uproar of the illegal secured loan incident, the actual is Machong forged the company's seal to do it, and did not pass the resolution of the Board.　　Wheat school honours breach of Security Xuzhi said to bear responsibility, it is St FountainVest just uncovered violation of security events. May 7, St FountainVest received the China Securities Regulatory Commission Guangdong Regulatory Authority of the administrative Supervision measures, the Bureau found that the company has the following problems: Not truthfully disclose the subsidiary of the Universal Environmental Protection Technology Co., Ltd. (hereinafter referred to as "Tatsu HuanYu") equity transfer, nor the relevant transactions according to the Rules of accounting treatment, resulting in significant accounting errors in the company's 2008.5 Annual report, three quarterly report and annual report. The company reaches HuanYu for the related party debt to provide security has not fulfilled the relevant approval procedures, nor timely information disclosure.　　Failure to disclose the debts of the holding subsidiaries. It is reported that the party Tatsu HuanYu for three total of 40.25 million yuan loans and related interest to provide security. St FountainVest in the verification of breach of warranty found that Tatsu HuanYu, Fang Tatsu Group, Machong, and other common involved in a total of 20 million yuan with Kwong Hui Branch of the short-term investment disputes.　　In addition, June 28, 2007, Machong Group and China High-tech investment in China's High-tech 94.5 million yuan to buy the Fonda HuanYu, flourishing Fonda, Galaxy Industrial city, 15% shares signed "agreement" and the relevant "equity transfer contract", the matter is also a dispute. St FountainVest to take the solution for, the actual control of the people of the wheat school to urge the relevant aspects, in the May 20, 2009 before the unconditional discharge of the relevant obligations of HuanYu, the MAI school ribbon promised to bear the dispute on the listed companies may cause any economic losses. The Chinese high-tech lawsuit was held in Beijing on May 8, 2009, and the parties intend to mediate.　　If the company is unable to recover the funds that have been taken away, it is promised to change its control assets and raise matching funds to return the listed companies.　　In fact, St FountainVest's problem has been revealed in a quarterly bulletin and a number of motions. In the 2009 quarterly bulletin, director of Wangenford, Supervisors Hu Jianchi in the first quarter, said that Tatsu HuanYu for the actual control of the enterprises under the breach of security issues have been closely watched by the regulatory authorities, it is difficult to the authenticity of the quarterly report, accuracy.　　St Square source The Board of Directors, with 6 votes in favour, 2 abstentions (Wangenford, Xuzhi), passed the "statement on major matters solution", in which Xuzhi did not feedback the vote within the stipulated time, as a waiver.　　Wangenford that some of the information contained in this motion has not been ascertained, that the internal control and supervision of the enterprise should be reflected, and that the force should be increased in accountability.　　The origin of a lot of breach of warranty according to St FountainVest provided to the directors, supervisors and senior executives of the "resolution on major issues" of the bill, St-side source holding subsidiary Dongguan Square Tatsu HuanYu involved in three violations of security, time concentrated in 2005 and 2006, the total amount amounted to 40.25 million yuan. These three cases of breach of warranty are roughly the same, basically are the Machong group (St Square source of actual control of the industry) or the group's subsidiaries to the bank loans, Kwong Hui Technology Investment Guarantee Co., Ltd. (hereinafter referred to as "Kwong Hui Branch") as a guarantor of loans, but as of the agreed repayment date, The borrower failed to repay the payment as scheduled.　　Then Fonda HuanYu and other subsidiaries of the Group agreed to the group to the Canton Branch to invest in the "Repayment guarantee commitment" under the obligations of all liabilities or joint and several obligations of liability. But until St FountainVest return to the market, these security matters are not known outside the situation.　　In addition, St FountainVest also found in the verification of breach of warranty, square Tatsu HuanYu involved in a more than 20 million yuan short-term investment dispute, the specific situation due to incomplete information, still need to further verify. For the above matters, St FountainVest said that the guarantee did not undergo any approval procedures, is a violation of security, but because the company's board of directors failed to obtain relevant documents in time, resulting in the above-mentioned security matters could not be disclosed.　　At the beginning of April, the company, after discovering the above-mentioned breach of warranty, has verbally instructed the actual control of the people of Mai School to urge the relevant aspects, it is necessary to terminate this year before May 10 unconditionally to achieve the above-mentioned security obligations and investment agreements of all obligations, and to ensure that the other party to achieve universal　　In early April, resigned St FountainVest president of the Office but still as its director of the Xuzhi but think that there is no breach of the security situation, but someone malicious forge Tatsu Universal seal privately made irregularities, and directly point out that this person is the actual St square source of control Machong. "It's like you're a newspaper employee, you forge a newspaper seal and you make a mortgage loan, and you end up with a newspaper that's not paying for it." Xuzhi explained.　　[Page] At present, the MAI school honours the unconditional discharge of the party to achieve universal security obligations Machong I committed to the unconditional discharge before May 10, 2009 of the above-mentioned security obligations and the investment agreement of all the obligations; Kwong Hui Branch of the relevant people also expressed the willingness to lift the Fonda HuanYu as soon as the above obligations.　　In an effort to restructure Huayuan, Machong has been taking pains to borrow money to make up for a huge debt hole and to make up for old debt with new debt. "Executed persons" on the Internet of the Supreme People's Court"One of the input" wheat School Ribbon ", the results show that from December 29, 2007 to date, Machong total of 14 outstanding debts are being implemented.　　Among them, only November 29, 2007 deep in the law No. 00036 number 18472830.98 Yuan arrears have been closed, the remaining 13 outstanding debt nearly 155 million yuan have not paid off. In the "executed person" entered the wheat school hoon's company "Dongguan Group Co., Ltd.", then there are 29 records executed. Among them, only 5 of the small amount of outstanding debt has been closed, the remaining 24 outstanding debts are in the implementation.　　Even a $80,000 trillion-dollar debt in January 2008 could not be reached by the group, which could be seen as a financial squeeze. This January, a weekly financial management from the Shanghai Second Intermediate People's Court, the exclusive learned that the courts of three consecutive three cases involving the listed company Dongguan Fang Tatsu Renewable Resources Industry Co., Ltd. (hereinafter referred to as the resources) of the financial loan contract dispute case, the plaintiff are Bank of China Limited Shanghai branch,　　The defendant is a Dongguan Group Limited (hereinafter referred to as the party Tatsu group), the target is 36719164.4 yuan, 24710329.5 yuan, 25384262.4 yuan respectively.　　In fact, the three loans originally from Shanghai Huayuan Pharmaceutical Co., Ltd. (hereinafter referred to as Huayuan pharmaceutical) loans, China Huayuan Group Co., Ltd. to provide joint and several liability guarantee. In response to the report of the current newspaper, Xuzhi once specifically replied to the Mail explained the matter. Xuzhi in the Mail, said, "St FountainVest now all the overdue bank debt, are restructured before the original Huayuan pharmaceutical legacy, the total debt is not more than 600 million, only 300 million." Prior to the reorganization, the group did make an undertaking to the China Source group's creditor committee and the creditor bank related to Huayuan Pharmacy, and pledged that if the *SST group successfully photographed the shares of the source medicine, the group would provide security responsibility for the bank debt of the *SST source medicine. In fact, the final success of the *SST source of drug shares is Dongguan Tatsu Investment Management Co., Ltd. and I, and not the group, so, the group has no responsibility and no obligation to assume the responsibility of commitment.　　"On the way to the debt solution, Xuzhi said that the debt to the stock, the directional issue, and other different ways to properly resolve the historical legacy of debts."　　64.5 million yuan use can not be verified in order to violate the guarantee, side Tatsu HuanYu encounter another problem is related to China Hi-tech investment group of 64.5 million Yuan capital "ins and outs" and use can not be verified. June 28, 2007, Machong, Fang da Group and China High-tech investment in China 94.5 million yuan to buy wheat school hoon Fonda HuanYu, Fonda, Galaxy Industrial city, 15% Equity and signed the agreement and the "equity transfer contract."　The same year, June 29, Machong Group and Fonda HuanYu signed an agreement, Machong agreed to the above 94.5 million yuan free gifts Fonda HuanYu, at the same time, the group promised the grant of the legitimacy of the assets and bear the corresponding guarantee responsibility.　In April of this year, China high-tech filed a lawsuit against the court to ask the Wheat Academy honours to buy back the stakes and claim all the money.　　But as early as May 15 last year, Fang da HuanYu has remitted 64.5 million of its funds to China's High-tech subsidiary. St FountainVest said that, in the above matters, Fang Tatsu HuanYu in addition to with Machong, Tatsu Group on the 94.5 million Yuan free donation signed agreement, not on the above matters with any other aspects of the signing of any agreement.　　Since the grant occurred before the company injected into the listed companies, the standard of its operation can not be verified.　　But according to the company's current information, can not verify the approval of the 64.5 million yuan funds and use, and the funds transferred not approved by the authority of the approval of the Department, is a serious violation, if the company can not as soon as possible from China to recover from the transfer of funds will be ordered Machong to complement matching funds At present, Machong has promised that if the above funds can not be recovered, its own agreement to change its control assets, raise matching funds to return the listed companies.　　So far, the case is still pending.　　The company has long been discontinued, in addition to lawsuits, St Square source in fact already discontinued. A quarterly Bulletin of 2009 showed that the net profit of St-source operating profit, net profit and ownership of the parent company fell by 199.27% and 206.07% and 282.52% respectively compared with the same period last year, and the company said　　The main reason is that the reporting period of the financial statement merger scope changes and the company subordinate to the universal environmental protection industry main business decline caused by the large.　　In the process of the reorganization of Huayuan pharmaceutical, the most important assets of the company are the universal. St FountainVest March 31 announced that the subsidiary of the company to achieve universal tentatively tentative from April 1 to June 30 to suspend the production of a half stop. The company said that, in view of the financial crisis on foreign customers, including Dubai, the large number of customers have postponed the original order delivery progress, the first half of the delivery of complete sets of equipment dropped significantly, leading to the production of universal complete sets of equipment manufacturing workshop overcapacity, for the compression of expenditure, reduce inventory, to reach　　From April 1 to June 30, the complete set of equipment manufacturing workshop was partially discontinued.　　In fact, Wanda HuanYu has been discontinued for 5 months.　　May 14, the St side source, a person who declined to be named, said that Tatsu HuanYu has been discontinued, workers have not been paid for five months, the factory inside the water and electricity have stopped, even the canteen is closed. This statement was confirmed by Xuzhi, "there is indeed a large number of workers in the town government." The Xuzhi on the phone looked very impatient and very fast.