Tengzhong to buy Hummer continued: Behind the scenes Li Ting rate Zigong merchants staged capital play

Every reporter Zhang Yifan iroha Wang Guo Nao Zhi from Chengdu after 4 years, "Zigong merchants" a number of people appear in Xu Guang resources executive list, such as Executive Director and senior engineer Li Xudong, executive director and Chief Executive Officer Zhang Daming.　　Teng Zhong Heavy industry to purchase Hummer brand, will Li Ting and "Huatong department" relationship, gradually fixed in the public view.　　For the acquisition, the relevant parties yesterday continued to remain silent, unwilling to disclose. Various indications, Teng Zhong heavy industry, Sichuan Huatong, Asahi Resources, such as the relationship between the company's senior executives, they and Sichuan Zigong low-key rich Li Ting relationship is more unusual.　　This month will be listed on the Hong Kong exchange of Asahi Resources yesterday a paper announcement, but also strengthened Li Ting and "Huatong department" and related companies.　　"Li Ting is the actual trader behind the scenes," Zigong, a Business Insider, told the Daily Economic news reporter yesterday that Li Ting could be found in the company's history. The reporter confirmed the above statement through the multiplex investigation. A group of "Zigong merchants" led by Li Ting is directing a new capital maneuver.　　Li Ting himself is like a mysterious businessman with dual identities-he is called "Solandogis" on the prospectus of Xu Guang resources. Li Ting and Sichuan Huatong Huatong control person is Li Ting right hand Xu Light Resources Prospectus Show, May 2004, Sichuan Hua Tuo Industrial Development Co., Ltd. (hereinafter referred to as Sichuan Hua) stared at Sichuan Eyebrow Glauber's Salt Co., Ltd. (hereinafter referred to as Sichuan Eyebrow Glauber's salt) and Sichuan Eyebrow Special Glauber's Salt Co.　　and Sichuan Hua Tuo's actual control party, is Sichuan Huatong Investment Holding Limited company (that is, Sichuan Huatong).　　The prospectus shows that Xu light resources of the actual control of the name "Solandogis", 46 years old, is Asahi Light Resources founder, as chairman and Non-executive Director, Solandogis formerly known as "Li Ting."　　What is the relationship between Li Ting and Sichuan Huatong? "In fact, the current control of Sichuan Huatong Zhang Zhigang and Li Ting is a family," Zigong and Zhang Zhigang, Li Ting have a friendship between the company's boss said, "The so-called family, refers to Zhang Zhigang equivalent to the Li Ting of the right-hand man, the two have cooperated for many years." Yesterday afternoon, the reporter came to the Chengdu Tianfu Avenue Science and Technology incubation Park, building a block 9th, Sichuan Huatong, this statement to the Sichuan Huatong to verify. A senior executive of the company vehemently denies that, and has cleared the relationship between Sichuan Huatong and Li Ting, Tengzhong and heavy industry: "As you have reported, we do have Sichuan-China extension." I'm not sure what the relationship between Sichuan and Tengzhong is, and now we are only managing consulting services with Tengzhong, without any asset level relationship. "Li Ting and" Zigong commercial gang "have served as a Sichuan Huatong shareholder reporter received a copy of the fifth session of the Chinese shareholders of the resolution documents show, June 27, 2005, Sichuan Huatong held a shareholder meeting, with Li Ting closely related to the" Zigong Business Gang "group debut, including the Sichuan province Huatong Wood industry representative Pukinme, Representative of Sichuan Deyang Fiber Co., Ltd. Michael Dunne, Zigong Laurel Hotel Co., Ltd. Representative Zhu Xiaqing, Zhang Zhigang, Li Xudong, Zhang Daming, he yuegui and other 13 people.　　The company legal representative Li Ting is the meeting moderator.　　At this meeting, Li Ting resigned from the directorship of the company and transferred its 95% per cent of its shares to Zhu Xiaqing, Zhang Zhigang, Zhang Daming, Liang, Rongjian, Li Xudong, and Liu Hua, as well as eight people, many of whom later became he Yuegui's right-hand man. After 4 years, "Zigong merchants" a number of personnel also appeared in Asahi Light Resources executive list, such as Executive Director and senior engineer Li Xudong, executive director and Chief Executive Officer Zhang Daming, etc.　　Other people who have not entered Asahi Light resources, also become one of the leaders of the people, has been denying any relationship with Li Ting Zhang Zhigang is one. In order to ascertain the relationship between Li Ting, Zhang Zhigang and Li Xudong, the reporter came to the graduate student database of Sichuan Normal University, but did not find the relevant information of Li Ting and others.　　The reporter then contacted with the teacher of the School of Management of Sichuan Normal University, on the phone, the teacher confirmed that the three Li Ting, Zhang Zhigang and Li Xudong did offer a joint MBA class with the University of Macau, but the trainees of the seminar did not leave a file, so they were unable to know which of them were the three.　　Li Ting and "Huatong department" careful layout to build three industrial systems meso "Zigong business Gang" of several major affiliated companies, in the frequent changes in equity, they staged a wonderful capital maneuver drama.　　Li Ting's "Huatong department" dates back to the 90 's: Li Ting in Zigong Road to earn the first bucket of gold, and soon acquired a wood processing plant, but also jointly with Zigong Chemical reagent factory research and development of Polyphenylene sulfide (PPS) high-performance fiber, by 2004, Li Ting through the holding of Sichuan Huatong absolute majority share control of all industries.　　April 8, 2004, Li Ting through its holding 50% of Sichuan, China Billiton to 80.6 million yuan to acquire 90% of Sichuan eyebrow Glauber's shares, independent third party Chuhuiying to obtain the remaining 10% shares. February 21, 2005, Toppromise Company was incorporated in Hong Li Ting, and the 100% stake was controlled by an investment company in the Virgin Islands. The same year, March 20, Sichuan hua Tuo put 90% of Sichuan eyebrow of the equity transfer to Toppromise, Chuhuiying will Sichuan eyebrow Salt 10% transfer to the Sichuan Huatong.　　May 23, 2005, Sichuan eyebrow body into a Sino-foreign joint ventures, enjoy the relevant preferential policies, but the actual control of the people still point to Li Ting, because whether it is toppromise, or Sichuan Huatong, its absolute holding shareholder are Li Ting. June 8, 2005, Sichuan Huatong will hand 10% of Sichuan Eyebrow Salt shares transferred to Sichuan Rich.　　The same year, June 27, Sichuan Huatong held a shareholder meeting, Li Ting resigned as a director of the company, and its holdings of 95% shares of Huatong transferred to the aforementioned Zhu Xiaqing and other eight people. At this time, "Huatong department" of the three major industrial systems-road and bridge machinery industry, resource industry and PPS industry, has been the first youngFractal。 Road and bridge machinery industry, Sichuan Huatong through the Sichuan Hua Tuo holding Tengzhong's predecessor, "Teng Zhong Electrician" 90% shares; resources industry, Li Ting through the toppromise holding Sichuan eyebrow Salt 90% shares, PPS industry, there has been Deyang-rich new Hopewell Fiber Co., Ltd. bottom.　　[Page] Li Ting and Asahi Resources Capital to become the largest shareholder "Huatong department" of the three major industrial systems in the embryonic form, "Huatong department" has made a dazzling change in the stock rights, Li Ting finally through the Niceace owned Asahi Light Resources 71.3% of the shares. December 15, 2006, Sichuan Huatong changed ownership structure, Li Ting control 47% of the equity, and the eight shareholders reduced to five people.　　More than 10 days later, Li Ting from the other four shareholders, wholly owned Sichuan Huatong, the board members by the Li Ting, Zhang Zhigang and Zhang Daming composed of three. February 9, 2007, when Li Xudong Sichuan Huatong deputy general Manager became Sichuan Tengzhong Heavy industry major shareholder, shareholding 90%.　　The same year, April 12, Sichuan eyebrow after reorganization, into the Cayman Li Ting registered Asahi Resources Holding company, and as a major shareholder of the Niceace through a wholly-owned subsidiary of a 75% of its shares. January 7, 2008, renamed as Sichuan Tengzhong Heavy industry's legal representative changed from Li Xudong to Chen Shi, then on January 31, Li Xudong 90% of the equity transfer to the natural person shareholder Zhong Shengan. July 14, 2008, Zhong Shengan to the company to increase capital, Teng Zhong Heavy industry registered capital changed to 141 million yuan, the proportion of their shares also increased to 98.51%.　　Soon, the company registered capital growth of 300 million yuan. September 11, 2008, Asahi Light resources through a series of changes in shares, Li Ting finally through the Niceace owned 71.3% of its shares.　　Asahi Light Resources yesterday in Hong Kong, proposed to issue 577.2 million shares, the share price between HK $1.72 to HK $2.56, in accordance with the IPO ceiling, will raise a maximum of 1.478 billion Hong Kong dollars, this move to the industry shocked. Watch the Hummer bank scramble for "sweet cakes." Every reporter Yang Wang from Chengdu Tengzhong Heavy industry to purchase General Hummer Project, has become in Sichuan commercial banks focus on the "goal." "Daily economic news" reporter learned that Tengzhong is a number of Sichuan commercial banks customers, the bank on its previous credit record, a few banks even want to participate in the acquisition of the purchase of loans and loans to settle projects, and with Tengzhong in deep contact.　　Many of them are CITIC Bank, China Merchants Bank and so on, it is said Citic bank from Chengdu branch in charge of the deputy Governor Misting this matter, because previously CITIC Bank, Citic Securities and "Huatong" at the capital level has many cooperation. It is understood that Tengzhong is at least 5 local commercial banks in Sichuan province customers. China Merchants Bank Chengdu branch related people confirmed that Tengzhong is the bank's customers. According to him, the bank has recently offered loans to the company for 2008, "and recently they have not offered any loanRequirements. "When it comes to Tengzhong's financial strength, the merchant bankers said:" It should be OK, otherwise it is impossible to do such a big project. "They have not heard of Tengzhong's trade unions have this acquisition, but from the previous cooperation, whether the company's cash flow, or repayment," is not bad. "ICBC Sichuan Branch Business Department related Personage said, Teng Zhong heavy industry and ICBC's cooperation time is not long, temporarily no loans, mainly deposits and settlement operations," said they and agricultural Bank of Sichuan Province branch cooperation more.　　The person said that, according to their understanding, teng-zhong heavy industry Although is a private enterprise, but its organization is relatively large. The hundreds of millions of dollar takeover is not a small number, does Tengzhong and its behind-the-scenes buyers have such strong power? Is the bank willing to pay the bill? A veteran of the Sichuan banking industry told reporters last night that financial institutions have the prerequisite to intervene, as long as the project conforms to the national industrial policy and foreign mergers and acquisitions policy (that is, the approval of the relevant government departments), in line with industrial upgrading and environmental assessment requirements, the Bank is of course interested, "Sichuan enterprises to buy general Hummer such a well-known brand, And the new production line may be settled in Sichuan, which is good for the development of the local economy, the prospects are very optimistic. "In his view, according to the national policy, such a project capital demand ratio is not high, only need to 20%~40%, the remainder can be through the financial institutions of mergers and acquisitions loans to solve."　　He revealed that the current interest in the project is not only domestic banks, foreign banks are also fighting for. It is reported that at present, there are banks in the work with Tengzhong contact, inspection, but there is no bank to consider the issuance of mergers and acquisitions loans. "It all depends on the progress of the negotiations and the approval of the parties concerned. "The acquisition of Hummer has not yet entered the approval process most experts on the case through approval expressed optimism every reporter Jiangni Wan xia from Beijing yesterday, the competent authorities do not encourage the acquisition of vehicle enterprises.　　The daily economic news reporter learned from the relevant departments yesterday that the case has not entered the approval process of the authorities, but experts on the case through approval expressed optimism. Profit is the enterprise's own consideration. The Deputy Director of the Institute of Foreign Investment Research of the Ministry of Commerce has told reporters carefully, according to the "Overseas Investment Management Measures" (hereinafter referred to as "measures"), the Ministry of Commerce on Chinese enterprises Overseas Investment audit focus on some sensitive issues, enterprises no longer need to submit economic　　Whether profitability belongs to the scope of Enterprise's own consideration.　　According to experience, Zhangxiaosen, a partner of China-Hong Kong law firm and the executive Director of the Association of Industry and commerce mergers and acquisitions, said in an interview that Tengzhong could solve the financing problem by itself, and that the case could not be materially impaired by the approval of the competent authority. The acquisition of Hummer should be carefully considered 5 points do not agree with the "acquisition of Hummer is hype" argument, but he said Tengzhong's acquisition of the Hummer Brand had 5 points to consider: first, the consumers ' willingness and ability to consume, mainly the high-end customers in the United States, have been hit by the international financial crisis.In the decline, how to continue to expand the market needs serious consideration; second, how to make full use of mergers and acquisitions opportunities, to achieve enterprise technology upgrading, and the enterprise's own product chain; third, how to use the Hummer existing sales channels and personnel; Finally, how to expand the international market through the acquisition behavior, realize the internationalization strategy of the enterprise;　　How to integrate the enterprise culture after the merger. However, there are also experts who are not optimistic about the acquisition. Xia Yeliang, vice director of the Institute of Public Policy at Peking University's economics professor and the China Economic Reform Research Association, said yesterday that the more "money-poor" companies were, the easier it was to overlook internal mishap.