Shares of Shanghai workers: the "plots" of Shu clan

Gold Securities reporter Li Yu Jiangxi businessman Xu Hongrui in Shanghai Welding Group Co., Ltd. after the development of the family members of the feedback is rich. Public data show that the Shanghai workers share the family holding characteristics of the obvious, the actual control of Xu Hongrui and wife Miuliping, son Shu Zhenyu total shareholding 94.19%. During the reporting period, there was a marked partiality between the shares of the company and Xu Hongrui Cousins. Among them, the Shanghai industrial shares to the cousin Enterprise Tianyi metal procurement of steel, that is, on the basis of the market inquiry price of 50 yuan per ton. Shujia World Shanghai Industrial Co., Ltd was established in 1993, mainly produces welding and cutting equipment. Before and after 1993, Jiangxi businessman Xu Hongrui to Shanghai Entrepreneurship, to cash 356,000 yuan, machinery and equipment and housing 524,000 yuan wholly-owned opened Shanghai Welding Machine factory. After more than 20 years of ups and downs in the sea, Xu Hongrui always firmly grasp the shares of Shanghai workers holding power. According to the prospectus disclosed, the actual control of Shanghai industrial shares for the Xu Hongrui, Shu Zhenyu and Miuliping family three. Xu Hongrui and his wife Miuliping respectively 50% and 10.31%, son Shu Zhenyu Direct shareholding 30%, through the employee shareholding platform Syu Investment indirect shareholding 3.88%. Simple calculation can be found that Xu Hongrui and his wife and children share 94.19% of the shares of Shanghai workers, its absolute holding position is steady. In addition to their own small family, Xu Hongrui is also very caring for family members. Xu Hongrui nephew Yu Dinghui, nephew daughter-in-law Yu Huichun through Syu investment, respectively holding 285,000 shares, 195,000 shares. Among them, Yu Dinghui is the son of Xu Hongrui sister, currently in Shanghai work shares as director, general Manager Special Assistant, Yu Huichun is Xu Hongrui sister's daughter-in-law, is Shanghai industrial shares overseas sales Department deputy director. "Gold securities" reporter noted that the Shanghai industrial shares of the Board of Directors a total of 7 members, including 4 independent director places. Xu Hongrui as chairman of the company, son Shu Zhenyu as director, General Manager, plus nephew Yu Dinghui, Shu family members accounted for 4 independent director of 3 seats. A Rong-Rong, the family atmosphere is strong, and Xu Hongrui entrepreneurial experience. Public data show that Xu Hongrui 63 years old this year, he was founded in Shanghai-electric welding machine factory, in Jiangxi Nanchang Park, electrical repair plant, Nanchang Hudong Welding machine factory as director. Jiangxi Media has reported that the Shanghai industrial shares were Xu Hongrui by Nanchang people, led more than 10 Jiangxi cousin founded in 1993. About 80% of the company's thousands of employees come from Jiangxi. and "Gold Securities" after the reporter comb found that the Shanghai industrial shares of the related transactions mostly occurred between cousins. July 1994, Xu Hongrui nephew Yu Dinghui and his wife Liang Ying invested 500,000 yuan to register the days of Wisdom metal, engaged in steel trade business. Only 2011 1-May, the purchase amount of the company's shares to Tiancheng metal amounted to 4.7771 million yuan. It is worth mentioning that the Tian Zhi metal and the Shanghai industrial shares do is "Hanlaobaoshou" business. According to the trading mode, Tianyi Metal to the steel spot market suppliers to the lowest prices after the basis of the price per ton of steel plus about 50 yuan as a bid for the shares of Shanghai workers. Furthermore，Xu Hongrui's sister Shu Xiaohua in June 2011, registered in Nanjing Granville State, engaged in welding machine and other tools of the distribution business, 2011, the state of Nanjing from Shanghai workers stock 566,100 yuan. With the Shanghai industry shares to promote the IPO, the company since 2012 has gradually ceased with the days of wisdom Metal, Nanjing, and other related enterprises such as the state of the transaction. Sending old diseases to the families of the family, and to the employees, to reduce costs seems to be a Xu Hongrui important choice. "Gold securities" reporter noted that the Shanghai industrial shares since July 2013, began to enable the commissioning of labor services. As of the end of 2013, the company dispatched a total of 148 workers. At the same time, the total number of contract workers dropped from 1018 by the end of 2011 to 881 at the end of 2013, and the number shrank by 137. The reason for the shares of Shanghai workers is that because of the high level of production in the company, the workers ' skill requirements are lower, such as winding workers, packing workers and parts conveyors, which have the characteristics of temporary and auxiliary. Therefore, since July 2013, the company began to use labor dispatch workers to improve employment efficiency. It is worth mentioning that the Ministry of Social Affairs this year, the new implementation of the "Interim provisions of labor dispatch" clearly pointed out that the employing units should strictly control the number of labor dispatching, the use of the number of dispatched workers must not exceed the total amount of 10% of their employment. The proportion of dispatched workers in Shanghai's shares has reached 14.38%. It is not easy for family businesses to get rid of their inherent habits at once. The body into the proposed IPO status of Shanghai workers shares, the idea is really changed the concept of modern corporate governance? "Gold securities" reporters will continue to pay attention.