China-Thailand Bridge shareholding big diversion: The Yangtze river system behind-the-scenes operation path exposure

21st Century Network survey found that the restructuring of state-owned enterprises to the final listing, China-Thailand Bridge has several easy to control people, in the complex history of ownership history, difficult to cover a MBO for the ultimate purpose of the operation of the route. Concerned, sneak, has long been the real control of the bridge between the people of China and Thailand. Who is the real winner in the process of MBO and IPO in Sino-Thai bridge management? Data map: Sino-Thai bridge ownership structure is hidden from the beginning of the listing, the Sino-Thai Bridge has been announced, its chairman Chen Yu for the company's actual control, but the reality is not so. According to the existing shareholding structure of Sino-Thai Bridge, Jiangsu HuanYu Investment and Development Co., Ltd. (hereinafter called HuanYu Investment) holds 34.2% stake in Sino-Thai bridge as the first major shareholder, while Chen Yu holds the 43.49% shareholding of HuanYu investment as the actual controller of Sino-Thai Bridge, so Chen Yu is the actual controller of the listed company However, after the 21st Century Network survey, by the end of the first quarter of this year, through complex equity relations and associated figures, "Yangtze River" is the first major shareholder of China-Thailand Bridge. In addition to HuanYu investment, the other two shareholders of the China-Thailand bridge deserve attention. Among them, Jiangsu Heng Yuan Real Estate Development Co., Ltd. (hereinafter called Heng Yuan Real Estate) holds 17.9985 million shares of China-Thailand bridge, accounting for 5.79% of its total equity, Jiangyin Ze Zhou Investment Co., Ltd. (hereinafter called Ze Zhou Investment) holds 8.164 million shares of China-Thailand bridge, accounting for its total capital of 2.63%. According to the information, Ze Zhou Investment was established in March 2006 by Wang Liman, Chenlia Capital, Henderson Real Estate was established in July 2006. Only a few months later, the two companies joined the New (now renamed the Force) as a concerted effort. Li Yuanwan material at that time, the bulletin said, Ze Zhou investment in the constant-yuan real estate tie large shareholders, so ze boat investment and Heng Yuan Real estate constitute a consistent action relationship. At that time, Heng Yuan Real estate Another shareholder is the Yangtze River shipping industry, its legal representative Miuwei is the Yangtze River shipping industry deputy general Manager, and Ze Zhou Investment legal representative Wang Liman another identity for the Yangtze River shipping industry deputy general manager. In February this year, the Yangtze River shipping industry spent 300 million yuan to acquire the investment holdings of the Heng Yuan real estate shares, the latter became a wholly owned subsidiary of the Yangtze River shipping industry. At the same time, Ze Zhou investment in another investor Chenlia, but also with the Yangtze River shipping industry has countless relations. In 2005, the Yangtze River shipping industry held 47.35% of the Sino-Thai Bridge, is its largest shareholder, but soon the Yangtze River shipping industry will cede control. In the Sino-Thai Bridge Prospectus, the Yangtze River shipping industry stated that it was "invested by its affiliated company, Chenlia, a natural person owned by the Yangtze company," to be held by the Chinese-Thai Steel structure (formerly the predecessor of the Bridge). "The key is universal investment. According to China-Thailand bridge earnings data, HuanYu investment by Chen Yu 12.43 million yuan, accounting for 43.49%, Wang Liman Capital contribution of 5.39 million yuan, accounting for 18.86%, Chenlia capital 4.86 million yuan, accounting for 17%. According to this calculation, Chen Yu through HuanYu Investment holding 14.78% stake in Sino-Thai Bridge, Wang Liman, ChenliAsia through HuanYu investment holds 12.26% stake in China-Thailand bridge. With the investment of Ze Zhou, Heng Yuan real estate shares, the Yangtze River a total of 20.68% shares of the Sino-Thai Bridge, become its de facto largest shareholder. In this case, a staff member of China-Thailand Bridge Securities Department told the 21st Century network, ze boat investment has been all clear, plus huanyu investment in other senior executives of the shareholding, in fact, the holding rights in the Chairman side.