HTC shares: Subsidized, take resources all by Guanba foot

Not only the current Chairman and vice chairman are former officials, but also three independent directors were officials. Private listed companies in Sichuan Hongda shares (600331.　　SH) Among the 17 top executives, former officials accounted for 5, plus a former official who recently resigned as vice chairman of the company, with 6 "official" executives.　　As most of the former officials in the location of HTC shares in the office, so officials to enter the enterprise also gave HTC shares more emboldened, not only to become the country's rare private resources enterprises, and dare to cross the border to Yunnan and the local state-owned large non-ferrous enterprises Chi macro Zinc Germanium (600497.SH) scramble for resources. Earlier this year, despite the fierce competition from state-owned enterprises, the "Hongda", which lasted for three years and increased its capital in two degrees, finally made substantial progress in the trust of the Sichuan province with its private status.　　"A private equity insider who has repeatedly held HTC shares told the investor newspaper.　　6 Former officials annual salary 2.3 million data shows that the current chairman of HTC shares Yang Yi, vice Chairman Shang, independent director He Zhiyao, independent director Wu Xiankun are Sichuan Province or Shifang government officials.　　The independent director, Liu Zi Fu, was once the head of the Chemical Industry Department of Sichuan Province and the party secretary, and the deputy director of Sichuan Provincial Planning commission was the highest in the former official office.　　In addition to this 5 people, the company also has a former official Zhao, this April just resigned the position of vice chairman of Hongda shares, Zhao was also Shifang local officials, former Shifang Civil Affairs Bureau deputy Director and director, then Shifang Mayor assistant, deputy mayor.　　The former officials received the highest salary from HTC shares, Yang Yi, the annual salary of 1.1 million yuan, followed by the former vice chairman Zhao, who received the annual salary of 800,000 yuan in 2009, vice chairman Shang and three independent directors of the annual salary of 100,200 yuan. That means the top 6 officials are paid 2.3008 million yuan a year from HTC shares.　　and HTC Shares in 2009 all directors, supervisors and senior management staff pay a total of 6.3015 million yuan, that is to say, the company paid 6 former officials of the remuneration of all senior executives pay 36.5%.　　A huge amount of government subsidy although HTC is a private enterprise, the company has enjoyed more government subsidies over the years.　　2009, the company received a government subsidy of 3.8146 million yuan, a total of five categories of subsidies, including energy-saving special funds of 500,000 yuan, the import of discount funds 1.0146 million Yuan, China's well-known trademark enterprise incentive funds 1 million yuan, post-disaster environmental protection facilities restoration and reconstruction funds 800,000 yuan and pollution control grant 500,000 yuan. It is noteworthy that of the above five subsidies, in addition to the first subsidy from Yunnan Nu Jiangzhou Finance Bureau, for the company subsidiary Yunnan Jinding Zinc Industry Energy saving, the remaining four subsidies are from the company's location in Sichuan Shifang, of which three were allocated by the Shifang Finance Bureau, and another pollution control subsidy by the Shifang Environmental Protection Bureau allocated。 This is in line with the company's "official" executive structure.　　The company is registered as Sichuan Shifang, and among the company's 6 former officials, three have served in the Shifang municipal government and the Office of the modification. In fact, the millions of-dollar government subsidy obtained by HTC in 2009 was only a "vegetable", and the company said in its 2009 annual report that it was "significantly less than the previous year" and that the company received a government subsidy of up to 13.66 million yuan in 2008. For a private enterprise, such a large number of government subsidies are amazing.　　This amount of subsidy is not only higher than other local private listed companies in Sichuan, and even higher than the Sichuan state-owned listed companies Sichuan Investment Energy. Joined the 2008 China listed private enterprises in the top list of the other Sichuan privately owned company (600438). SH) received a government subsidy of 7.21 million yuan in 2008, equivalent to half of the subsidy granted to HTC in the year.　　The same 13 former officials of the state-owned enterprises Sichuan investment in 2008 received only 8.9486 million yuan, the government subsidy than HTC shares in the year less than more than 4.7 million yuan.　　In the first quarter of this year, despite the realization of HTC shares operating income of 630 million yuan, the year-on-year decrease of 55.86%, the net profit of 6.6164 million yuan, down 94.63%, but the first quarter into the current profit and loss of the government subsidy to 1.2146 million yuan, to a certain extent, thickening the company's performance. Official resources have been fully emboldened official resources also make this private resources enterprises emboldened, not only in Sichuan local possession of a large number of mineral resources, but also dared to cross the border to Yunnan and local state-owned enterprises Chi Hong Zinc germanium competition to eat local state-owned resources.　　As early as 2007, HTC claimed that, as a large shareholder holding 51%, the company intends to pass the directional additional, will be Yunnan jinding Zinc Industry Co., Ltd. 49% additional equity in the bag. This is not an ordinary private enterprise's simple acquisition behavior, not only competitors are local non-ferrous state-owned enterprises Chi macro Zinc germanium, but also to acquire objects include Yunnan Metallurgical Group Corporation, Yunnan province Lanping County Bai Pumi Autonomous County state-owned Assets administration, Yunnan Nujiang State-owned Assets Management Limited liability company, Yunnan Copper Industry (group)　　The total of 4 companies, including 40% Equity Holdings, also includes the remaining 9% shares held by HTC's affiliated party, HTC Group. Another expression of confidence is that earlier this year, its participation in the Sichuan Trust and investment companies and the construction of investment trust in Sichuan province, the merger and reorganization program recently approved. This is another competition with the Giants win. According to the reorganization plan, the merged Sichuan Trust Registration fund is 1.3 billion. The proportion of private capital holding is 62.59%, in addition to Hongda Group, Hongda shares of the Sichuan resource giant, local private enterprise Huiyuan Group, Haugi Food also held 5%, 3.84% respectively, while the state-owned capital, China Sea Trust 30%, Chengdu Railway Bureau, Sichuan Province Investment group, China Railway Eight Bureau group,　　CNTC also held 3.57%, 2.14%, 0.42% and 0.11% respectively. "It turns out that the Sichuan provincial government has taken into account HTC Private enterprises's identity, at that time, the regulatory level has instructed China life to take a reorganization, but because of negotiations with HTC for many years, the final HTC still win.　　"A mid-level member of HTC shares said. The company emboldened enough, seems to be the result of repeated violations.　　2008, in the CSRC issued the "non-tradable" to reduce the new regulation only the seventh trading day, HTC shares two top ten "non-tradable" shareholders in the transaction of the excess proportion of illegal reduction of stock shares, become the new regulation after the first case of irregularities. The latest was suspected insider trading, and the reorganization was premature. May 19 This year, the company's shares of the deal released a huge amount of 675 million yuan, and to limit the return, in the day to buy by the former body seats, one of the cumulative buy amounted to 105 million yuan. In the evening, HTC issued a major asset restructuring announcement, called shareholder HTC Group is brewing a major asset restructuring, will be suspended for up to one months. Then because the Supreme People's Procuratorate and the Ministry of Public Security clear manipulation of the securities market and insider trading Standards issued by the prosecution, the company's major asset reorganization "because immature" and suspended.