Discussion on the incident of Tang June

Xinhua Group Chairman Chen (left) and the Xinhua Group president and CEO Tang June (right)

Note

As early as in 08, "Microsoft lifelong honorary president", the original Grand network president of the Honorary life-sized Tang June, with the identity of China's first manager, Complacent defected to just from Zijin mining, Fujian new rich richest Chen tree. Tang June's rhetoric was: "In the next 3-5 years will promote the 5 companies listed, used to round the boss Chen into the list of the top three of the Dream", and then said that "has been for Xinhua have done 5 years of planning, from 1.6 billion yuan to 10 billion yuan."

But more than two years have passed. Chen, in addition to the alleged donation of 8.3 billion, was widely questioned, after a fire. Xinhua Group has no new listed companies, Tang June promised the 10 billion empire, now seems to be a distant dream.

"My success can be replicated," Tang said. Some people on Weibo said, "Your success is hard to copy, but your education can be replicated." ”

Now, Tang June "Doctor Door" scandal exposure, then Hao throw 1 billion please come to "China's first manager" Chen Tree is still hiding behind the scenes, refused to disclose words, only Tang June's secretary announced that Tang June will not resign from the Xinhua group. The dramatic combination of "Fujian's richest Man" and "China's first manager" now looks like a bizarre story between a "native man" and an "old medic"?

Tang June, a "working emperor" who has always been good at entertainment, is tasting the taste of being entertained.

In recent days, "fight against the fighters" Ark all the Way, erudite directed at Tang June's degree fraud, entrepreneurial experience is not true, such as "Emperor New Clothes", a stone stirred the thousand layers of waves.

In a meaningful sense, tang June was given a doctorate from Pacificwestern (Pacific West University), and Fang also had evidence that it was a pheasant university with no certification and a diploma.

"Why can't you find his paper in the American University's doctoral dissertation database?" Said Fang.

But Tang June, the other side of the boat's further war has ceased to pay attention, and clearly said: First, in the future my business card will add a doctor after the name. Second, the law will pay the price for the present and future of fabricating facts to be soiled by others.

This time, Tang June was pushed to the cusp, also involved in his previous post of the Royal Network (SNDA) and the current service of the Xinhua group.

Listed companies involved

This eye-catching and aroused the heat of the Ark son questioned Tang June incident, has presented the "Chengmenthe, implicating" trend.

According to Ark Son, the Royal Network in 2004 in the Nasdaq IPO published in the prospectus, said Tang June is the Pacific Western University Electronic Engineering and Japan University of Nagoya Electronics doctor.

In a recent interview with CCTV, Tang June said he was sorry that he had not received a doctorate in Japan, so he would like to read a PhD in the United States. In his autobiography, "My success can be replicated," Tang June also mentioned that he had given up his doctorate in the University of Nagoya, Japan, to the United States.

"If the prospectus provides false information, the problem is serious." "Fang said," If Tang June does not have a ph. D. from Nagoya University, but he claims to be a Ph. D. In the prospectus, he has provided false information to the SEC and what kind of legal liability will be held under U.S. law?

In this regard, some analysts believe that in the United States listed companies, document fraud is considered to be a serious fault, even if it is unintentional flaws, it is easy to cause shareholder collective litigation. But there are also lawyers said that the president's qualifications are flawed, after all, and the performance of a small relationship, unlike patents or trademarks, not enough to trigger the company's legal liability, to punish is also to provide false information.

According to the data, Tang June, after leaving Microsoft, joined the Royal network as President in February 2004, when May 13, the Grand Network in the Nasdaq officially listed transactions. and the Royal Network to give Tang June's remuneration is, about 2.5 million shares of options, divided into 4 years of implementation.

A widely-reported version of the media, in the Grand network 4 years, Tang June three times to the Wall Street Roadshow, each deduction a share price doubled story, he proudly called his road as "Tang June mode."

However, Fang questioned the Royal online prospectus about Tang June's disclosure of information for two days, as of press, Shanda Network and U.S. regulators have not responded to this.

In fact, the Xinhua group actually control people Chen Tree as the third largest shareholder of Qingdao Beer (600600.sh,00168.hk), Tang June also on behalf of his appointment as director, but the company published on September 15, 2009 on the Board of Directors of the candidate's resume, Tang June is simply mentioned "respectively in China, Japan and the United States received a bachelor, master's and doctoral degree, employed for Beijing University and the University of Texas and other universities, such as the vague introduction of professors, with another director candidate Shiasaki and supervisor candidate Small Lu Mingshan are published in the Graduate school and professional curriculum vitae, there are significant differences.

But the bigger impact is undoubtedly Tang June as president and CEO of the Xinhua Group, and Tang June's secretary has made it clear that Tang June will not resign from the Xinhua group.

"Xinhua Group has some companies are running the listing, Tang June incident will be more or less to its listing process has negative impact." "One investor in Fujian believes.

May 29, Tang June in the 2010 China Internet Webmaster Conference revealed that Shanghai joint Travel Network Technology Co., Ltd. will be listed on the NASDAQ board in 3 months.

Joint Travel Network official website data show, Tang June as chairman, has been a grand network under the Hao side of the online CEO Liang Yonglun for the company's CEO.

Tang June or Hong Kong and Macao Information Chairman, before, Tang June also publicly said that the next 3 years to let Hong Kong and Macao Information become a domestic listed company, has been in contact with brokerages, hope to be listed as soon as possible. In addition, Tang June June 10 in Changsha, said in 3-5 years, will be Xinhua group of real estate business operations listed.

According to Tang June, Xinhua group will be listed at least 3 companies, the target of the network is landing on the Nasdaq board, this approach is obviously in the copy of Tang June's experience of the Royal network. The investment sector said.

The person thinks, Ark son questioned whether Tang June incident to the Xinhua group of the influence, in less than two months will be clear, because according to Tang June, the network by the end of August can be listed on the Nasdaq board, its success is a test results of the touchstone.

The collapse of "Idol"

"Tang June is more like an entertainment star than his professional manager. "One of the media people who has been in contact with Tang said he is better than the general entertainment stars do is, as long as interviewed him, the basic will remember you, as long as there is a press conference, you will send invitations to your mailbox, and even a media repeatedly invited several reporters, some major festivals will send small gifts. ”

Tang June in his book, "My success can be copied," said April 15, 2008, I joined the Xinhua Group press conference, more than 200 media gathered, sent an invitation to every mail, every text message, every phone is out of my own hands, invited to the media reporter, I can call out the names of most people.

But in sharp contrast to the media reporters, according to Xinhua group of people revealed that Tang June rarely with the company's other high-level communication, and hardly to the various departments to move around, even if the high-level dinner, he mostly silent.

However, it is undeniable that the 1 billion-dollar high price "transfer" Xinhua group, according to Tang said, 2009, the total of Qingdao beer and Yunnan white Powder (000538.SZ) Two investment, Xinhua group's equity investment returns 3 billion yuan, investment income of up to 84%.

Public information indicates that May 7, 2009, B Jade to the Chen tree to sell its Tsingtao beer holdings of about 7.01% of the H shares, a share of HK $19.83, the total price of 235 million U.S. dollars, the transaction completed the closing formalities June 24.

The second largest shareholder of Yunnan white Powder, Yunnan Hongta Group, September 10, 2009 held 12.32% of the 65813912 shares of state-owned shares, transferred to the Chen Tree, the price of 33.543 yuan per share, the transfer of the total price of 2207596050.22 yuan.

To July 8 Close, Qingdao Beer H-Shares and Yunnan white powder shares are 36.85 yuan and 64.83 yuan, Chen Tree's investment book income has nearly doubled, this shows that the original Chen tree reduction Zijin Mining turnover of these two companies is sensible.

However, according to a quarterly report of Yunnan White powder, Chen has not been approved by SASAC, and the share transfer agreement agreed to transfer the shares to Chen within 20 months of the date, not by any means to transfer or entrust others to hold, manage hold.

"From the time, Qingdao beer and Yunnan white powder investment should be related to Tang June, but Hong Kong and Macao information on the discrepancy between the claims, some news reports are said to be the dominant Tang June." said the investment community.

April 21, 2008 released Xinhua All (002264.SZ) prospectus report that the Xinhua group holds 17.06 million shares of Hong Kong and Macao information, accounting for more than 51.7%, the legal representative is Chen tree. With this projection, as early as Chen hired Tang June, Xinhua Group control The Hong Kong and Macao information.

In June 30, 2008, the acquisition of Hong Kong and Macao News Press conference, Tang June put words, will use 3 years time, the Hong Kong and Macao Information successfully built listing, "listing should be in the domestic, gem or a A-shares."

In fact, Tang June joined the Xinhua Capital Group, has promised "in the next 3-5 years will promote the 5 companies listed, to round the boss Chen into the rich list of the top three dream," then, said, "has been for Xinhua have done a 5-year plan, from 1.6 billion yuan to 10 billion yuan."

But today has been more than two years, Xinhua group has no new listed companies.

Not only that, although the investment income is obvious, but the Xinhua group's industrial operation is not satisfactory.

July 31, 2008, Xinhua all listed transactions, the first day of the opening Rose 136.1%, became the largest IPO in the month, but the biggest surprise is that its 2007 to 2009 earnings per share of 0.91 yuan, 0.71 yuan, 0.64 yuan, showing the trend of decreasing year by day.

"The industry has many questions about Tang June, for example, the Xinhua Capital Charitable fund is registered in Fujian, is a local foundation, the constraint is not small, but its first donation fund is to build 100 hope Primary school, but did not explicitly build where, and according to media reports, many places because of the reduction of rural population leading to the decline of schools abandoned. The investment sector said.

The person said that although investment in Tsingtao Beer and Yunnan white Powder's book earnings can be seen, but there are also a lot of contradictions or swings in tang June, such as claiming to be the group to build China's most influential private enterprises, but its previous strategy is to diversify investment, and then changed to diversified industrial operations.

Perhaps for Tang June, as he said, "I run myself, everyone should work for themselves, not for the business."

A widely circulated network of Tang June speeches can be a backdrop to each other: Tang June to leave Microsoft, Bill Gates called him-you really can not stay? I can give you any position, you choose. And Tang June replied, I left China too long, I have to go back to participate in the construction of the motherland. Gates then immediately convened a meeting of the Board, unanimously agreed to give Tang June, the title of Microsoft lifelong Honorary president