Tianjin Auto Mold Today will be the original stock bait for nearly 9 million bad debts

Every reporter Chao De Tianjin Automobile Mould Co., Ltd. (hereinafter referred to as the day of the automobile mold) as the leading domestic automotive mould manufacturers, customers covering domestic and foreign car manufacturers. Data show that the company belongs to the Tianjin Automobile industry group wholly-owned subsidiary, after several restructuring, finally achieved management buyout.　　And today (September 27), the company will accept the SFC issued Audit committee, if passed smoothly, will be expected to land in Shenzhen SME market. However, the daily economic news reporter found that the company early in order to open the international market, there have been irregular trading behavior.　　At that time, in order to facilitate the export, a low-cost transfer of some of the company's equity to customers, but finally forced to mention bad debts prepared nearly 9 million yuan. Transfer of shares of the company in the days of the prospectus, the company is described as the country's largest automotive panel mold suppliers, the industry's only real large-scale export mold enterprises, which in the automotive big Country rather than the automotive power of China, is obviously a great thing.　　However, the daily economic news reporter found that in the opening of the international market, the model of the export sales, but has a less glorious history. April 2005, the day of the steam mold decided to increase capital.　　According to the voluntary principle, the capital increase of the actual investors in the days of the steam mold and the company's internal staff, the increase in prices for the day of the limited 2004 at the end of the 1 yuan per capital contribution of the corresponding net assets of 2.06 yuan. However, in the case of some of the original shareholders to increase capital, the company unexpectedly introduced the "outsider" Zhao Yanlin, the natural person with 1,528,520 yuan in cash to invest in the company. As a result of the company during the same period of capital Accumulation fund to increase the amount of investment, Zhao Yanlin finally hold the 976,600-dollar capital investment, accounting for 2.44% of registered capital.　　In this calculation, Zhao Yanlin's increase in the unit price is only 1.565 yuan/share. For why the "outsider" Zhao Yanlin shares, the Zhao Yanlin in the prospectus: At that time, the British Contenaite Company (British Contenaite Company, a British company engaged in international agency business of Automotive Mold products, hereinafter referred to as "CP Company") and the company's Business Contact representatives, the Company believes that the introduction of its shareholders,　　Conducive to the development of international markets. The daily economic news reporter found that Zhao Yanlin, who was called the "business representative" in the prospectus of the day, had a more glamorous name-the chief executive of the British CP Company, China. 2004-2005 years, Zhao Yanlin led overseas customers in a series of visits at home has been quite a concern in the industry. Because Zhao Yanlin brought similar Land Rover such large orders, for a time become interested in entering the international market of domestic auto mold manufacturers sought after.　　According to media reports at the time, into the fly integration, FAW Mold, the days of the auto mold carved up Land Rover nearly 200 sets of standard mold orders, including more than 100 sets of flying technology, FAW Mold 50 sets of ~60 sets, the days of the steam mold is only about 20 sets. The great gallant had smashed his foot to face the export of this big cake, the days of the vapor mold took a hard recruit-let Zhao Yanlin hold the company shares, fromand make oneself and Zhao Yanlin become interest community, promote more export sales.　　However, this use of raw stock as bait, but the act of lifting a stone smashed his foot. 2004 CP Company and Tiancheng signed a number of orders.　　But in the day of the die delivery mold products, CP company but to varying degrees in arrears to the company. "Daily economic news" reporter found that the CP company owed Tianjin model of the purchase price, the vast majority of the introduction of Zhao Yanlin as shareholders after the company. Of these, 5 of the 2004 signed orders were delivered after May 2005, then the payment could not be fully recovered.　　However, in this context, the days of the model is still in June 2005, with the CP Company signed a contract, again leading to the January 2006 delivery Hozhi can not be fully recovered. Since 2006, Tianjin Auto Mold and CP Company no new business contracts. But the CP company owes a total of up to 720,600 US dollars, 127,000 pounds and 176,000 euros.　　According to the October 31, 2009 (The last balance sheet date of the company board of Directors ' examination of bad debts cancellation bill) The exchange rate translates to RMB 813,204,3.3. For reasons of default, the CP company pays for the end user to repair the product exceeds the company's arrears for a long period of arrears, and claims that its payment of the mold repair costs and arrears of the days of the vapor mold payment. And days since 2005, the company has repeatedly to the CP to recover arrears. 2007 years later, Tiancheng commissioned the Chinese export Credit insurance company to the CP company to recover arrears.　　October 12, 2009, the Chinese export Credit insurance company issued the "closing notice" to end the case with three reasons: first, the debtor refused to repay; the second is that the cost of overseas litigation is high, even if the win, the recovery of the money will be most or all of the costs of litigation offset; third, CP company Insolvency,　　At the end of 2007, the days of the steam mold follow the principle of prudence, the CP company to use the above-mentioned arrears of individual determination, according to 100% of the proportion of bad debts prepared 8.9863 million yuan (according to the conversion of the final exchange rate). It is noteworthy that the days of the Model 2008, 2009, 2010 1 ~ June, the loss of assets impairment is only more than 1 million, and the end of 2007 is as high as 10.819 million yuan, CP company owed the impact of the company can be seen.　　The original stock to do the bait of the exchange, but eventually in return for nearly 9 million funds.　　Attorney: Responsible for the loss of responsibility in order to make a business, the customer's decision to introduce the decision-makers to become shareholders, the days of this behavior is suspected of commercial bribery? Yesterday (September 26), "Daily economic news" reporter interviewed Shanghai Mr Yan law firm lawyer Mr Yan. He said that the behavior of the day is a commercial bribery need to synthesize a number of factors, such as the day of the Zhao Yanlin transfer of equity to the price is fair, and net assets for how? With the same period other transfer whether there is a clear price "too low" suspicion. However, Mr Yan points out, it is difficult to define "commercial bribery", since Zhao Yanlin will return the original stock price to the original assignee without producing real profits and currently does not hold a stake in the company. However, after all, the company lost nearly 9 million yuan, this responsibility needs to be investigated. Mr Yan said that the company millions of yuan did not get, whether and this middle Fang Zhaolin is worth investigating.　　At the outset, the management allowed Zhao Yanlin to buy shares, whether it is necessary for the payment can not be recovered and caused by nearly 9 million yuan loss of joint and several liability, also worthy of further scrutiny. Interestingly, the daily economic news reporter found that in the days of the auto mold can not be recovered from the CP company nearly 9 million yuan, once asked Zhao Yanlin to the original capital price to the days of limited other shareholders transfer of the company's shares. December 2005, Zhao Yanlin signed the "Equity transfer agreement", but the days of the company has been owed to the company of CP companies for payment, not to the Zhao Yanlin to pay the transfer money.　　Until July 2008, Chai Yanlin received the full equity transfer of the price. Extended reading day of the auto mold industry boss Tianjin Automobile Mould Co., Ltd. (hereinafter referred to as the days of the steam mold) of the historical origins can be traced back to the 1965 Tianjin Automotive Industry Corporation, the company of Tianjin automobile factory mold Manufacturing factory.　　December 1996, the company's predecessor days Limited set up steam, for the days of the group wholly-owned subsidiaries, the nature of the state-funded enterprises. April 2003, the days of the automobile group on the limited implementation of the state-owned enterprise restructuring, transfer 67.5% of the state-owned shares. General manager Hu Jinsheng and other 180 employees to the total of 7.155 million yuan of cash, the purchase of the days of a limited 67.5% equity. According to the provisions of the time, Hu Jinsheng is eligible to buy the option of a finite 10% day vapor mode. 2.5% of the equity capital of 265,000 yuan, immediately paid off, the remaining 7.5% of the transfer price of the shares of 795,000 Yuan in the days after the limited system restructuring three years gradually paid. 2004, the days of the group to sell the company held a limited remaining equity.　　At this point, the days of the state-owned enterprises to achieve management MBO. According to the prospectus, at present, the customers of the company are all over the world, including Shanghai General Motors, SVW, Wuhan Shenlong, FAW Volkswagen, Beijing Hyundai, Guangzhou Honda and many other manufacturers. The international market includes GM, Ford, Fiat, Peugeot Citroen, Mercedes Benz, BMW, Audi, Volvo,　　Land Rover and many other well-known international automotive enterprises to provide mold development and manufacturing services. According to the China Mold Industry Association statistics, 2009 China's automobile panel mold income of more than tens of millions of enterprises have 29, the total revenue of 2.737 billion yuan, of which the days of the gas model income of 454 million yuan, the proportion of 16.59%, the industry's first stable.