The withdrawal behind the radio group's wealth-making boom

Guangzhou is located in the Tianhe District village a Heng Lu Huaying Park is an old-style large community, in more than 50 buildings, most of the living are Guangzhou Radio Group Limited (hereinafter referred to as "radio Group") staff.　　The seemingly quiet community has recently been simmering. All this happened on August 31 Radio Group Holding the Hagrid communication (002465. SZ) Success after a A-share listing. And the recent radio group Holding another company broadcasting real estate backdoor Jilin Pharmaceutical (000545.　　SZ), after the spread of information in the community, exacerbated this kind of calm.　　Are the bane of the stock market.　　Hagrid's listing has created a 47 natural person in the radio group of the overnight wealth, to the first day of the listing of the closing price of 50 yuan, the current top 10 of natural persons shareholder stock market value of more than 200 million yuan, of which the Chairman Yang Haizhou shareholding market value is as much as 800 million yuan. "Recently our community atmosphere is obviously more wrong than before, with shares and no shares of the opposition up, at ordinary times in the community to talk about that stake everyone dispersed, those hands and shares of the talk is not the same as before, are beginning to plan to the next to the Pearl River New town to buy a house, we listed before the withdrawal people are very depressed.　　Aunt Li, who retired from the radio group's health clinic, told the first financial daily reporter.　　The disappearing 20 million yuan a unit on the five floor of an old building on the basketball court of the Hua Ying Park, living in a more than 50-year-old radio Group, the only national model worker, his name Tan Shiliang.　　In Tan Shiliang's home, this reporter saw the preservation of the 1989 years to obtain, covered with the PRC State Council seal of the National Model certificate.　　Tan Shiliang also enjoys the State Council special allowance of retired old experts, before retiring he is the radio group design of the technical backbone, main navigation technology, and today, the technical basis of the sea grid communication, is from this design. However, to the reporter's surprise, Tan Shiliang's living conditions are very simple, Tan Shiliang on the old mother, under the grandson, four generations together in 83 square meters without elevators in the cottage, furniture and home appliances are very old, "I now pension is more than 2,600 yuan, there are some allowances, if the current property prices, buy a house for us is extravagant hope."　　"If there is no Hagrid's listing, the old couple's life may still be calm," he said. Tan Shiliang told reporters that he had the original shares of the sea grid communications for 120,000 shares, broadcasting real estate's original shares of 5000 shares.　　If the shares are calculated after a number of shares, he should have more than 500,000 stocks to hold the grid communications. "According to the current paper on the wealth calculation, light Sea This part of the current market value of up to 20 million yuan."　　Tan Shiliang's wife is on the side of the calculation said. However, all because of Tan's age has changed. He reached the retirement age in 2000.　　Time, let this technology old backbone and tens of millions of wealth pass by. There was a special stipulation within the group that retirement or 退养 must be withdrawal after three years, "my shares areThe first batch of the returned in 2004, about a hundred thousand of dollars back to us. In fact, the mind did not want to retreat, but due to the rules can not be.　　"Tan Shiliang said. In the interview, the reporter saw the same as Tan Shiliang encounter withdrawal Radio group retired workers no fewer than 10 people. According to the briefing, the entire radio group, the number of encounters withdrawal should be more than 100 people.　　[Page] Ten-year listing to thoroughly understand the grid communications and radio and television estates exposed today's equity issues, but also to trace the history of radio group and restructuring.　　Radio Group was founded in 1956, its predecessor is the Army Enterprise State 750 factory, in the early 90 to Guangzhou state-owned enterprises. At present, radio Group has 2 national key software Enterprises, 3 software enterprises in Guangdong Province, High-tech Enterprises 3, 2007 Group's Radio and Television Express (002152).　　SZ) listed, January 2010, became the first major shareholder of Jilin Pharmaceutical, August 31, the Sea grid communications listed. March 30, 2000, the Guangzhou municipal government state-owned enterprise reform leadership group in accordance with the "on enterprise reform, the deployment of state-owned enterprises reform," the idea of the formation of limited liability companies, joint-stock companies, joint-stock cooperative system and some of the state-owned enterprises Transfer (sale) and so on.　　And with "on Guangzhou state-owned and state-controlled large and medium-sized enterprises in the work of the guidance" notice, the radio group designated as the focus of restructuring enterprises list.　　As one of the first 17 companies to be transformed by Guangzhou, the radio group changed its four departments into joint-stock enterprises, of which the former Military Communications Corporation renamed the Joint-stock company for maritime communication. "Hagrid communication at that time to design, trial section, assembly shop, material department and sales Department integration together to form the Prestige communications company, 1998 Prestige Communications Company and Huahai Company (Sino-Foreign joint ventures) formed a military company, 2000 registration renamed to Sea Grid communications.　　Liang told reporters.　　Liang also revealed that the predecessor of radio and television real estate is actually 750 factory maintenance group.　　This reporter learned that, in 2000, Hagrid Communications and radio and television real estate has started in the radio group within the IPO work. This reporter from a retired staff to obtain the preservation of the 2000 years of broadcasting property prospectus, see, there are clear provisions on the prospectus, subscription price and subscription quantity, such as "tilt to the management and the backbone of the business," and require the group leader, Real estate companies are at the decision-making level and managers, relatively holding a larger stake, pull off the gap with the general staff to enhance the confidence of staff transformation. [Page] Staff withdrawal confused "Radio Group had more than 1000 employees, retired 退养 not to buy, and finally more than 700 people voluntarily bought shares.　　"Liang revealed.　　The reporter learned that, including Liang and other 2000 years ago retired 退养 and did not buy a stake in some retired old workers are still in the running for shares. At the beginning of 2008, LiangState City Luogang District Court filed a petition, the Hagrid communications and the Maritime Trade Union Commission to the Court, the "confirmation of the agreement on the transfer of shares is invalid, the defendant should return the original 62473.6 shares of the plaintiff (including the enlarged shares)" claim. "In April 2005, the UNOMIG communications staff Stock Management Committee informed me that the shares must be transferred to the Defendant Stock Management committee, otherwise the dividend and share capital will be discontinued." Under the helpless, I had to submit with employee shareholding signed the "Equity transfer agreement." After that, my understanding of the law is that the defendant's act is in conflict with the relevant laws and regulations of the State.　　Liang told reporters.　　However, the final Liang, like several other plaintiffs, did not get the desired results, and the Luogang District Court and the Guangzhou municipal courts all ruled against them. The Chinese Academy of Guangzhou believes that the shareholders in the sense of company law means to pay contributions in accordance with the shares stipulated in the Articles of association, and to register them in the Register of Shareholders and industrial and commercial archives. Liang, who subscribed for shares in the employee's capacity, first delivered the money to the Union stock, and the Union again financed the grid communications, and the union was the shareholder.　　Therefore, this case does not apply to company law; The Chinese Academy also holds that the constitution of the shareholding association is passed by the meeting resolution of the group leader of the Staff Congress of the Radio corporation, and then through the resolution of the meeting of the Staff Congress of the communication held by Hagrid, the above-mentioned articles have the nature of the capital Dai Huiyong, a lawyer at Guangdong Green law firm, said the constitution of the shareholding Association and the Articles of Incorporation in the company law are two different concepts, and the "Articles of association" referred to in the company law refer to the written documents of the companies that stipulate the basic rules of the Organization and activities of the Company in accordance with law, and are the common agreement of the shareholders in writing. Its basic characteristic is to have the legal nature, the authenticity, the autonomy and the openness.　　The Constitution of the shareholding Association is a kind of internal contract formed between the sea-lattice communication and the stock-holding staff, which is applicable to the employees, not the organization and activities of the company.　　However, the regulation of the radio group shareholding is mysterious.　　Reporter found that the radio and television real estate prospectus in the withdrawal conditions are not stated. In the prospectus of the radio Group employees ' shareholding meeting, which was dated April 12, 2000, the reporter saw the withdrawal in the 19th article. "The shareholders of this council have terminated their labor contract with the company for reasons of retirement, may, according to the voluntary principle, permit the transfer or retention of the shares held by the company, that is, the position of the leading cadres, who have participated in the management and decision-making of the shares of the company and make a certain contribution to its operation, upon my application, this shareholding will be submitted to the Board of Directors of the Allow retention of 5 years, other relevant personnel and ordinary employees by my application, this shareholding will be submitted to the company board of directors for approval, allowing the retention of 3 years of holding period. The expiration of the reservation must be transferred.　　"However, the origin of this regulation is the most criticized by these retired workers who have withdrawal." "And do not say that this regulation stipulates that a retired employee should be withdrawal in five or three years without complying with the relevant laws of the company law." This RegulationAlso did not pass the legal procedures ' by the holding staff meeting vote, most agreed to enter into force '.　　Liang told reporters that the prospectus was not voted and signed at the 2000 IPO, and that Hagrid was later allowed to return the signatures in 2007 for the listing process. Former radio and Television Group Technology Quality Department of Deputy Minister Zhang Peigen told reporters that he has so far kept the April 21, 2000 meeting complete the original records, confirmed April 21 meeting did not consider the Charter through the shareholding.　　[Page] Withdrawal policy makes these already withdrawal workers feel more dissatisfied and puzzled is, the sea grid communications in the withdrawal issue of "unpredictable".　　In a large number of retired workers to handle withdrawal, even including the former health clinics, such as Aunt Li, some of the old staff, the encounter was forced to advance withdrawal, April 2007, the Sea grid communications "policy" has changed. April 2, 2007, a document for the Hagrid communications staff shareholding meeting in the resolution mentioned, "... Agree to dissolve the shareholding after the transfer of the above shares, and lay the foundation for the conversion of Hagrid's communications and the public offering of shares. "April 2007 later, we found that retired employees who had not yet withdrawal could not withdrawal."　　Liang told reporters. As for the beginning of April 2007 why can not withdrawal, this reporter did not get the exact statement. Reporters have recently called Hagrid Communications chairman Yang Haizhou, he is not willing to talk about this matter.　　But to the reporter left a mobile phone number, there are problems to find his assistant, but this reporter finally found that the so-called "assistant" is only a public relations company staff.　　What is the total number of employees in the telecommunications and broadcasting properties of Hagrid, and there is not yet an exact figure, and it is a mystery whether the shares of retired employees fall into the hands of the last.　　This reporter has tried to contact Hagrid communications staff shares and radio and television real estate staff holding, but also failed. "These retired workers have contributed to the enterprise for several decades, in the sense that they should enjoy the fruits of growth and development, then enterprises should be in the constitution to consider these, how to compensate them?" In addition, the State does not have the relevant laws and regulations for retired employees in the retired after the withdrawal. So the core of their controversy is in the prospectus.　　"Dai Huiyong thinks.　　Dilution of state equity?　　On the way to the market of the withdrawal and broadcasting property for ten years, whether the state-owned assets have been lost is also the focus of the controversy, apart from whether or not the question is reasonable. Reporter saw a June 2000 Guangzhou state-owned Assets Management Bureau, "about the Military Communications Corporation part of the transfer of property rights" Copy of the reply, which mentioned, according to the municipal government, "forwards the city restructuring on the comprehensive implementation of the reform of the public small enterprises in the notice of several views",　　Agree that your company evaluates the amount of state-owned net assets of 53276566.34 yuan as the basis, will be 36230400 of them according to the preferential 20%, to 28984320 yuan of the price transfer to the enterprise employees. Apparently, the seaGrid communications to the internal staff of the transfer of equity has been approved by the Guangzhou State Capital Bureau.　　[Page] But the share of the radio group as a state-owned shareholder has been diluted for several subsequent increases. According to the prospectus of Hagrid's communications, in the first restructuring of the grid communications, the radio group as the state-owned shareholders accounted for 32% of the shares, and then in May 2002, the change in the shareholding was reduced to 25%, of which 7% were transferred to the Radio Group trade union Committee (5.2%), Huang Xiuhua (0.5%), Zhang Hing ( 0.8%), Yang Haizhou (0.5%), at the same time the radio Group trade union Committee to the 0.5% of the equity transferred to the Fu Paowen, who was not originally in 11 natural persons, the sea after the direct shareholding of the natural shareholders will become 12 people.　　Fu Paowen, a former chairman of the Radio group, has retired. The radio group and Hisense executives have increased their holdings at the same level as radio groups. The proportion of Yang Haizhou in 2002 rose from 5.5% to 6%, while Zhang Xing rose from 1% to 1.8%.　　After the change of stock rights, the current grid communications listed, radio Group held 18.25%, Yang Haizhou holding 5.01%, Chao Yong 1.99%.　　What is even more difficult to understand is that Yang Haizhou and other senior executives who bought shares in 2000 years were still borrowing from radio groups for most of the money they needed. This reporter from the 2000 Lingnan accounting firm issued a capital verification report and verification of the matter, see, Yang Haizhou, such as 11 of natural persons should pay 5668992 yuan, Yang Haizhou, such as 11 of the actual cash contribution of 1138061 yuan, wage savings carried forward capital 1289376 Yuan, A loan of 3241555 yuan to the radio group.　　Yang Haizhou and other 11 people subsequently mortgaged the stake to the radio group. "These years, the communications and navigation industry is very good, the company's profit prospects are good." In this case, the share of the radio group is decreasing, and the proportion of the executive's share of the stock is increasing, it is confusing.　　Zhang Peigen to reporters. Zhang Peigen to this reporter calculate a account, radio group from the first restructuring of the 32% equity, to the listing only 18.25% of the equity. "If the first day of the listing price calculation, the state-owned assets have disappeared more than 2 billion yuan."　　"And the situation of radio and television property is the same as the sea grid communication.　　In August 2000, the first increase in capital, the radio group has not been the same proportion of capital increase, even the 720,000 yuan cash dividend hand to invest only 660,000 yuan, get back 60,000 yuan, directly caused the original 30% dilution to 24%. From the change of the share right of broadcasting and television, we can see that in the first stock change, in the state-owned shares of the Zhang Barong, the increase of 580,000 yuan, Chao Yong 257,000 yuan, Chen Yubin increase of 252,000 yuan, Tang and Zhang Xing are increasing the capital of 157,000 yuan, the increase in cash and should be distributed profits to increase the amount of equity compared to the minimum of more than twice times (Zhang Barong), more than 7 times times (Chao YouYong).　　In fact, in the grid communications and radio and television real estate restructuring and expansion of shares, the radio group was the main leader of the chairman of the Chao Yong, President Zhang Xing, the two people at the same time in the sea and radio and television properties of the senior positions. For example, Chao Yong and Zhang Xing has served as the chairman of radio and television real estate, Chao Yong also served as the chairman of the Sea Grid communications. Chao Yong currently holds 6.6304 million shares of Hagrid's communications, 8.8862 million shares of radio and Television Express, has been holding a radio and television real estate 3 million shares (has been transferred); 2008 has been transferred to the Yuexiu Group as general manager Zhang Xing holding the communications 5.3953 million shares, if according to the completion of the issue of Jilin Pharmaceutical Capital structure calculation, Zhang recruit Hing currently holds Jilin pharmaceutical 53　　42,000 shares. This reporter has written to Guangzhou Sasac invitation to interview, but as of press, did not get a reply.