Stranded developers in Asia's biggest commercial center are strapped for cash

June Shanghai, the total assets estimated only 1.3 billion yuan of furniture enterprise Shanghai Moon Star Group (hereinafter called Moon Star Group), is wholly-owned construction of the so-called Asia's largest, the world's fourth large business center-Shanghai Moon Star Global Business Center (hereinafter called the Global Center). The site of the global Center is located next to the Jinsha station of Putuo light rail line Line 3 The location of the center block total area of 60,000 square meters, known as the Shanghai King, according to the insider estimates, the land price even the formation cost of only about 800 million yuan, but the current market value has reached 5 billion-6 billion yuan, if in accordance with the current policy on land value-added tax provisions,　　The owner of the plot will pay 1.5 billion yuan for the tax.　　This landmark Shanghai Putuo District, the project total investment of 3 billion yuan, is expected to be completed in 2012, Moon Star Group chairman Ding Zohong has been publicly expected to bring the monthly star group 10 billion yuan income. But it's not as good as the Moon Star Group has advertised, "Ding Zohong has been trying to sell the project, and different people have been looking for us at different times, from a commercial point of view, we would have been interested, but the people who were familiar with the operation of the Shanghai municipal government were asked to check, The other side's advice is not to stain.　　But the insider is reluctant to disclose the details of the project.　　Ding Zohong STAR Group Chairman, President Ding Zohong in 2008 for the first time on the Hurun Rich list, to 1.3 billion yuan worth 615 in China, the 26th place in the retail rich list. The 47-Year-old Ding Zohong from a peasant family in Subei. 19-Year-old just graduated from high school, then carrying 5 yuan Nickei and half set of woodworking tools to leave his hometown Rugao, into Changzhou work.　　More than 20 years never went to college, did not go to the office work, from the young apprentice to the small carpenter to master Ding, and then to the current Chairman Ding. In 1988, Ding Zohong made a monthly star wood factory by earning 3000 yuan of original capital and 7 persons including two younger brothers.　　He grew up on polyester furniture, 6 years of asset growth 4,000 times times, to 12 million yuan; 1995 began production of solid wood furniture, and aimed at the hotel furniture City often a year, Moon star hotel furniture by high quality, low price, occupy the national five-star hotel furniture more than half of the share. Since 2003, Ding Zohong has been involved in political circles, and has served as the CPPCC member of Shanghai Putuo District, Changzhou Municipal People's Congress and Jiangsu CPPCC Commissioners. 2007, Ding Zohong elected as a representative of the Shanghai Municipal People's Congress, the same year elected as the National federation.　　Last year was elected the Chamber of Commerce Furniture Decoration Industry Association of the third President of the Council.　　2003 at the end of the month to buy the world's Center block, attracted a sensation, but since the plot has been idle for many years, has been questioned by all sides, until May 10, 2009, to undertake the Global Center Pile Foundation Engineering Fujian Geological Construction group in the site to hold the commencement ceremony. "Asia's largest", "the world's fourth largest" and other adjectives on the project to make the commencement ceremony quite eye-catching, but Ding Zohong very "low-key" and did not attendOn the day of commencement ceremony, only sent the Moon Star Home Group Investment Center Deputy Director Shen Jianchun, Shanghai Moon Star Global Business Center development company deputy general Manager Yu Jianhong to the scene, Moon Star Group's official homepage on the commencement ceremony is not a mention.　　May 15 morning, the Shanghai Municipal party committee front minister Yang Xiaodu, Shanghai Putuo Deputy District director Jingying, such as City, district leaders in the Moon Star Group chairman, President Ding Zohong accompanied by a visit to the project site is under construction, and in the site on the project development planning held a symposium. May 16, Ding Zohong received an interview with a television program called "Chinese Operator".　　But the host Wu Xiaobo to Ding Zohong's question is very polite, for all kinds of rumors just lightly brought, did not cross-examine the end.　　Is it normal to delay five years? According to people familiar with the data, October 2003, an area of about 66000 square meters of 130 plots (coarse land, not into action demolition) for auction, Ding Zohong to its Jiangsu Moon Star Furniture Group Co., Ltd., Jiangsu Xincheng Real Estate Co., Ltd., Changzhou Xincheng Real Estate Co., ltd three companies,　　Obtain the land at a price of 546 million yuan.　　Insiders pointed out that three companies after the successful bidder, and Putuo District Housing Bureau signed the Shanghai Moon Star Universal Home Decoration Expo Center Co., Ltd., the company on December 3, 2003, the registered capital to 10 million yuan, shareholders by the Shanghai Moon Star Furniture Plaza Co., Ltd. Dingzoo, Dinzoron changed to the successful bidder three companies. The registered capital of Shanghai Moon Star Universal Home Decoration Expo Center Co., Ltd. only had 2 million yuan when signing the contract for the total amount of land sold at 163.8 million Yuan.　　Only after four months, the winning three companies will be held by the stake back to Shanghai Moon Star Home Plaza Co., Ltd., Jiangsu Moon Star Furniture Group Co., Ltd.　　There is an insider said that the project on its own demolition, rather than in accordance with the relevant provisions of the price of 70% (382.2 million yuan) to the government, the government is responsible for demolition, so the actual relocation costs less than 200 million yuan, that is, the country's small income near 200 million yuan. To the above, the Times weekly reporter on June 18 to the Moon STAR Group to interview requests in order to verify, Ding's secretary Sun Mingyu said to be able to arrange next month, for the Times weekly reporter written questions, Sun refused to respond, only said in the "Chinese operator" interview, Ding Zohong has made a reply,　　However, the Times weekly reporter replay The program video, found that the moderator in the interview did not make related questions. June 18, Shanghai Putuo District People's government Cooperation and Exchange Office deputy director of the Jing Yongping to accept the Times weekly reporter telephone interview, said, Moon Star Global Business Center progress is "normal", it is not fine.　　According to the public information, Jing Yongping has been following up the project and attended the commencement ceremony May 10.　　Arrears of rent 90 million?　　The global center's total investment of 3 billion yuan, Ding Zohong's personal assets estimated only 1.3 billion yuan, and at this sensitive moment, the moon star in Shanghai three stores suddenly turn off two, which makes Ding Zohong's financial situation is questioned. For the TimesWeekly reporter's question, Moon Star Group also refused to respond to its financial position, but the Putuo District government staff Jing Yongping replied: "As far as we know, the Moon Star Group's financial situation is not a problem, Ding is negotiating with the bank to carry out the project in the form of loans."　　However, the industry has confirmed to the Times, the project has been started but the loan is still under discussion. The Moon Star Group is located in the Hundred central Stores, April this year suddenly closed, according to the data of the Times weekly reporter, the star Group rented hundred Central shopping mall venues to open Star Group Furniture Central shop, its booth rental income as high as 300 million yuan, but it is reported that the monthly STAR Group has defaulted to the hundred central shopping malls 90 million yuan rent,　　The benefit of the Central People's Union has become worse, the income of employees has declined, resulting in several petitions from employees in the hundred central Ring. On this rumor, The Times weekly reporter June 18 call the sales department in the central Business Contact, Query Moon Star Group is not rent 90 million matters, the man who answered the phone did not deny, and invited the Times weekly reporter to the sales department interview: "You come then someone told you this thing." "But the Times weekly reporter arrived in the central Business Department of the Hundred, that is, a middle-aged man appeared to discourage Times weekly reporter interview, was asked whether the monthly star Group in arrears of the hundred central 90 million yuan rent?" The man said: "This is not clear." "Times weekly reporter in written and oral repeatedly to Ding Zohong Secretary Sun Ming Rain inquires This matter, he also refused to clear response, still insists:" Ding always in the "Chinese operator" interview to answer this question, you go to see then know.　　"According to the video show," Chinese operator "host Wu Xiaobo asked Ding Zohong Why recently in Shanghai three shops shut down two (central and Wu Zhong Road shop). Ding only "Central shop owner if the property problem, because it has a lot of complex problems, it makes it difficult for us to continue to develop there."　　So more rationally, the central shop stopped.　　As for another store-Wu Zhong Road shop, Ding Zohong said it is because the platform of the government track Line 10 line, temporarily changed to the location of the store, Moon Star Group with the government temporary relocation, he said two years later the government will return to this place, to rebuild the moon star home wide often trapped in business dilemma?　　China's furniture industry in a critical period of growth, competition caused widespread losses in the industry, one of the star Group's main rivals in 2008, the loss of 500 million yuan in China, and will close its more than 60 stores in China 22.　　In an interview with the Chinese operator, Ding Zohong also admitted that turnover in the fourth quarter of last year should have risen by 20% in the original season, to 20%. Ding Zohong more revealed that the moon in Shanghai close, but not a shop in the field, and in Hangzhou, Changchun, Qingdao and other places, continue to develop.　　He expects the operating area of the lunar star to increase by 50% per cent a year from more than 2 million sq m to about 3 million square metres.　　That is, the moon star in the city Road under the continued expansion of business area. Times weekly reporter June 18 afternoon to the Moon Star home 100,000 square meters of China's largest household business to sing Shanghai Moon Star Home site inspection, shopping malls are scarce, there are several cash registers on each floor, but employees spend most of their time idle, visiting fewer people and paying less. The products in the shopping malls have a certain appeal to the high consumption people. For example, a store for the sale of high-grade audio equipment, the price of each set from 20,000 to 160,000 yuan, the shop assistant said that in the past, Japanese customers buy more, but recently due to the financial turmoil and the impact of influenza A, the Japanese to Shanghai, a big reduction,　　Other foreign customers who travel or travel are not many, and visitors and buyers are greatly reduced. Ding Zohong in the 2008 Hurun Rich List, among the 26th place in the retail rich list.　　But to 1.3 billion of dollars in assets, but in the market value of the operation of 8 billion-9 billion yuan construction costs of the super large-scale projects, coupled with the furniture industry is going through the winter, in such a variety of backgrounds, on the Asian first mall stranded owners of the capital chain nervous rumors more and more people are skeptical. The truth will be left to the people who are not afraid of heat this site interview in Shanghai, seemingly nothing, because most of the interview object tight-lipped, vague.　　This reaction makes me more interested in the event, and the person who has the opportunity to explain the mystery chooses not to explain itself as a strong message.　　"It's so hot, you're not running around 1." I found the strangest excuse for refusing to interview in the history of the company, when I checked whether the STAR Group had defaulted on the $90 million rent in the ring. When I interviewed a man who was in charge of a suspected person in the sales department, the man then tried to send me away on the grounds that "the weather is so hot that you don't run around 1." I asked him: "Why the Moon star suddenly moved away?" Is it a $90 million rent payment? He said it was unclear and that online rumors were not believable. I continued to cross-examine: "Online rumors are not credible, so I personally to check, you should be more clear, otherwise this will have a negative impact on the hundred and moon Stars." Yes, no, no. For example, online rumors that I am a man, I will loudly deny. For example, I interviewed Ding Zohong Secretary Sun Ming Rain and asked why the Moon Star Global business centre did not pay the land value-added tax as stipulated in "State Eight". "How do you know we didn't pay?" he asked. I asked, "Are you saying that you have paid?" How much did you pay? When to pay? Can I quote you?　　He immediately said he could not be interviewed. We have also written and oral to the Shanghai Municipal Planning and land and resources Administration, Shanghai house building (can be verified over the years auction records), the Putuo people's government to verify that the first two departments did not echo, only the Putuo people's government Cooperation and Exchange Office deputy director Jing Yongping was interviewed by telephone, but he just repeated the　　But can not provide further specific data, reporters to the interview, but also he refused.　　This article is just a beginning, what happened will always be found, geese have left scars, people have left the sound, the truth, would leave the people not afraid of heat. Luo