Large shareholder free of charge 300 million assets of Qingdao Han cable embezzle collective assets

Trainee reporter Lin Lin company IPO makes big shareholder one night the myth of rich, but like Qingdao Han Cable Co., Ltd. (hereinafter referred to as "Qingdao Han cable") such blatant misappropriation of state-funded companies are very rare. Recently, Qingdao Han villagers to reporters that the holding shareholder of Qingdao Han Cable in the absence of consultation with the local villagers, without authorization, the value of 300 million of collective assets into private.　　This practice of unauthorized diversion of collective assets, in flagrant violation of the legitimacy of the shares of listed companies, Qingdao Han Cable executives stealing collective assets behavior is also heinous.　　With the local village committee's "Yuanyuan" This Monday evening sec Bulletin said, the issuing committee is scheduled to review the first application of Qingdao Han cable on September 3. It is reported that Qingdao Han cable main wire and cable and cable accessories research and development, production, sales and installation services. The company is the original Ministry of Electricity and machinery fixed-point production of wire and cable manufacturers, as well as China's wire and cable industry large enterprises. It is reported that the Qingdao Han cable this plan in Shenzhen stock issue 50 million shares, issued after the total share capital of 470 million shares.　　The Qingdao Han cable issue raise funds to invest in ultra-high pressure xlpe insulation Intelligent Energy-saving cable and accessory products complete sets of production and construction projects such as five projects, the total investment of 1.01 billion yuan.　　In the development of the Han cable in Qingdao, the company is located Qingdao Laoshan District Village Committee and the local villagers were once the company's largest shareholder, and the company's development played a crucial role. 1982 River Village Committee took out the then public set up a village office enterprise "River Wire Factory", that is, the predecessor of Qingdao Cable. The prospectus shows that the company's predecessor was established in 1982 Laoshan County Sand Mouth People's commune River copper Aluminum factory, later renamed as "River Wire factory."　　and River copper Aluminum factory by the Qingdao Laoshan County River Village Committee invested 359,000 Yuan Equipment set up the company, its nature is collective ownership enterprises. Since then, the river wire factory through a number of listed capital increase, joint venture, so that the size of the wire factory gradually grow. In October 1989, "River Wire Factory" and "Qingdao Electric Power Service Company" joint venture set up "Qingdao power wire and cable factory."　　March 1997, "Qingdao Power Wire and cable factory" changed to "Qingdao Han Cable Group Co., Ltd."　　Thus, at the beginning of the establishment of the company, River Village villagers and the local village committee are the original shareholders of the company.　　300 million collection assets are embezzled however, in Qingdao Han Cable ready to Sprint capital market, there are river village villagers to reporters, pointed to the Qingdao Han cable in the transfer of shares in the process of large collective assets into private phenomenon. According to the capital verification report of the IPO, March 1997, after the establishment of the company's assets value added, River Village Commission occupies Franco wire factory 268.52 million yuan, of which River Village Commission 834,000 Yuan, on behalf of the "accumulated employees" contribution 26,768 60,000 yuan, in addition, power industry investment 1.18 million yuan, Cable Accessories factory funded 300,000 yuan. Thus, the company's registered capital of 270 million yuan. and River Village Committee fundedIt accounts for 99.45% of the total contribution and is the largest shareholder of the Wire factory.　　However, during the transfer of shares in the company, the huge collective assets were transferred to the "Qingdao River Industrial Co., Ltd." (hereinafter referred to as "industrial Company") by the controlling shareholder of the company, without the consent of the local villagers river the village committee. The villagers said that, March 10, 2000, in the absence of a general meeting of the villagers, under the premise of River Village Committee will be 268.52 million yuan transfer to the industrial company. In fact, the industrial company is actually Qingdao Han Cable, a shareholding company.　　It is reported that river industry is the predecessor of the Han cable from Qingdao Han cable group investment 54.6759 million yuan, a total of 35.55 million shares, accounting for the total contribution of 30.4%.　　Since then, in May 2004, the Han cable group (hereinafter referred to as the "group") to all 35.55 million shares transferred to the group's shareholders Zhang Sixia and group employees, but the Fong Changshia and its employees did not pay a penny of the transfer money. As a result, after the numerous transfer of equity, Han in the group and through the group in the industrial company's contribution and equity into the Zhang Summer's personal name, 300 million yuan collective assets to private.　　And in this share transfer, Franco village villagers did not receive a penny transfer money. As a village-run enterprise Qingdao Power wire and cable factory in the state tax care and support the continuous development and growth for the group, before our village to have such a city, the province, the country is well-known advanced enterprises and proud, the village villagers look forward to this change in our village backward situation, an early well-off life.　　"Some villagers told reporters that I would like to hope that river wire factory can give back to the villagers that year with the bitter conscience, but with the Qingdao Han Cable factory director system reform, all this has come to naught." Who is Zhang Summer? Why was he able to easily river the collective assets worth 300 million yuan from the hands of the village committee? How many assets have been "evaporated" in the last 20 years of the Chinese cable in the helm of Qingdao? Tomorrow's "Investment Express" will be a follow-up report for readers.