Warren Group suspected 600 million usury in Sichuan golden Dome, "blood to Harm"

Leshan, Mount Emei, Panzhihua, Fuyang reported last year May 12, the Wenchuan earthquake to Sichuan jinding all the workers feel a strong vibration, but they never thought is, a year later, another earthquake "also to this quiet plant brought vibration." At the end of April, a paper lawsuit of incense overflow will expose the risk of the Golden Summit in Sichuan to be involved in the illegal guarantee. And all the adverse evidence, almost all point to Sichuan golden Dome behind the large shareholder Warren Group.　　The former star Enterprise is not only debt-ridden, involving 600 million of yuan private lending, but also suspected of violating the security, empty listed companies, even the Warren Group is about to go bankrupt rumors have been rampant. Sichuan Golden Dome faced with the risk of production into the Golden Summit of Sichuan, the plant can not be the scene of the immediate and a crisis heavy enterprises linked together.　　One into the gate, saw a row of cement transport vehicles lined up weighed, waiting to transport the cement, the factory in the roar of the machine, the production line non-stop operation, everything looks orderly.　　Not only that, according to current knowledge, now Sichuan jinding Cement average sales price of 430 yuan/ton, cost 290 yuan/ton, estimated to have about 30% of the gross margin, and Sichuan jinding is the implementation of Nissan 4500 tons of dry cement technology, is expected to be completed on June 28 this year, put into production, the monthly profit of about 8 million yuan. However, there are hidden dangers behind the orderly. "The company's large reserves of materials or spare parts supply is not timely, may lead to the production of the Golden Summit in Sichuan." "A staff member of the Golden Summit in Sichuan, said," At present, Sichuan jinding cash flow is very tense, normal production operation can not be ensured, although the current is not discontinued, but the risk of production has been there. "Sichuan Golden Summit responsible for production management to reporters, benefiting from the hot situation in the cement industry and Sichuan post-disaster reconstruction work, the current Sichuan jinding production and Sales no problem, can be" self-sufficient ", but this situation is likely to remain for a long time. "Due to the earthquake reconstruction in Sichuan, the demand for cement is very high, last year, cement prices rose high, many manufacturers have launched cement production lines, because the construction of cement production lines will take about a year, so production is gradually released, the current cement prices have begun to fall, but this may be just a start, by the end of this year, Large capacity may also be released centrally, by which time the boom will remain unknown. In the case of cash flow so tense, the Sichuan Golden Summit in the past few months is hard to say. "At present, Sichuan jinding has been very difficult to pay the maturity of the bank interest, staff wages, arrears of related taxes and so on, the month of April liquidity gap of 20 million yuan, and nearly 50 million loans due to the return of funds for transfer and loan."　　Employees are not stable, enterprises face the grim situation of total production. The situation has aroused the concern of the local government. "In fact, the role of the Leshan government is embarrassing. An insider told reporters, "they can control the right to speak very limited, after the reform of the Golden Summit in Sichuan, they have not been fourSichuan jinding shareholders, no control. Sichuan Golden Summit for them is just an ordinary enterprise in the area, if there is no tax and stability problems, the city government difficult to intervene.　　"In a short period of one months, the Sichuan Golden Summit of the various assets were frozen or before the preservation of the lawsuit, even Leshan state-owned companies because the Warren Group did not comply with the original asset transfer contract terms of the implementation of the obligations to the Warren Group and the Sichuan Golden Summit to sue, and frozen related assets In this connection, Leshan government officials told reporters that this is actually in the robbery freeze.　　Because I do not know Warren Group to use the assets of listed companies, the number of loans, so Leshan hope that in the first time the Golden Summit of the assets to be frozen for preservation, this is to facilitate the control of the Golden Summit in Sichuan, on the other hand, in order to ensure the security of the creditor bank assets　　The hidden danger of equity transfer whether it is the Leshan government or the inside of the golden Dome in Sichuan, we all know that the Warren Group has not brought any substantial development to the listed companies. A few years ago, Leshan government for the implementation of the "DPP" policy, the Sichuan Golden Summit as a "pretty girl first married," the typical public recruit "bridegroom."　　At the time, a series of domestic and foreign cement groups are competing for tenders, but to all the unexpected, unknown, limited assets and no cement industry experience in the Warren Group, and finally to high out of the opponent 4/share of the weak advantage of the top pick. "When the equity to the Warren Group, the Leshan government and the Warren Group reached an agreement, the Warren Group is to help the listed companies expand capacity, bigger and stronger." "Sichuan jinding insiders to reporters," but they did not do. Instead of adding capital to listed companies, they went outside to build a lot of cement plants.　　"Warren Group was originally a layman in the cement industry, in the smooth entry to the Golden Summit of Sichuan, has a technical team, but also in Sichuan province, Panzhihua, Guangyuan, Renshou three successively cloth points." According to the Sichuan jinding related people, is located in Guangyuan Cement Plant was built after the Warren Group sold. Originally this company is to sell to the Golden Summit of Sichuan, but the Guangyuan plant after the earthquake damage serious, the Warren Group had to drop.　　The cloth point in Panzhihua is the Hua Lun group through Zhejiang Dadi Paper Group Limited control Panzhihua Dadi Cement Co., Ltd., its subsidiary Panzhihua Gold Sail Industry and Trade Limited liability company was acquired by Sichuan Jinding, while another is located in Renshou Cement Plant is later sold to Sichuan jinding People's cement plant. Although the frequent acquisition of the Warren Group of assets, but in fact, the Golden Summit of Sichuan Capital is not well-off. In the second half of 2007, the United States Taishan Investment company in Sichuan Golden Summit of the Emeishan Special Cement Co., Ltd. to increase the capital of 14 million U.S. dollars, thus holding the Emeishan special cement 49% equity. "At that time, Sichuan jinding want to build a cement production line, but suffer from insufficient funds, so chose to introduce investors to finance." "An insider at the Golden Summit in Sichuan told reporters," the conditions of the joint venture was very harsh, although we hold 51%, but in fact there is no absolute control. Just becauseThere is no money, so there is no other way.　　However, in this context, in August 2007, the listed companies spent 57.5 million yuan to buy Sichuan Jinsha Cement Co., Ltd. Panzhihua Gold Sail Industry and Trade Limited liability company 98% of the equity. The reporter to the Panzhihua Earth Cement Survey, known as the so-called Sands cement is Panzhihua Earth Cement Co., Ltd., the latter by the former restructuring, in the restructuring of Zhejiang Dadi Paper Group company, but because of visibility and other reasons, at present the same enterprise, two names coexist. And this Panzhihua gold sail industry and Trade Limited liability company, is before the transformation of Sands cement for the franchise main business and the separation of the logistics company, Sichuan Jinding spent 57.5 million yuan to buy the company, once specialized in sand sands cement greening, cleaning, service and so on. In the Earth Cement office area, there was a few offices of the company, but when the reporter arrived, the office was already empty, even the company's signs also disappeared. One of the staff of the Earth Cement said to reporters: "Gold sail industry and trade early, the company closed early."　　"It is noteworthy that it was in this transfer before and after, the Warren Group and St Qinling signed the Transfer agreement, the financial strength of the Warren Group took a breath out of 190 million yuan margin." Earth Cement same Critical story here, Panzhihua earth Cement and Sichuan Golden Summit can not be separated to see. As the Panzhihua Earth Cement and Sichuan Golden summit between the transaction, mutual security, so the company in the end and the Sichuan Golden Summit is what relationship, has been controversial.　　Warren Group has previously announced that it has a connection with the Panzhihua Earth cement. The reporter to the earth Cement interview asked staff, staff a puzzled face told reporters: "We have always known that they are Zhejiang Dadi paper subsidiary, previously also thought that Zhejiang Dadi Paper is a subsidiary of the Warren Group, producing areas there is still a Warren group sales company brand." I heard that it is the Earth cement sales companies want to borrow the company's name to get out, but now the Warren Group denies the relationship with the Earth paper, now we do not understand. "But it's not the same as confusing them.　　The company has limestone mineral resources, sales are not worried, but has been in the cash flow is extremely tense. "We have blood, but we don't know where it is."　　One of the Earth cement insiders told reporters.　　According to the introduction, the Earth cement originally has four wet cement production line, according to the country shut down the backward capacity of the plan, its 1th, 2nd production line has been shut down, now operates mainly in the 3rd, 4th production lines, but according to National policy, the two lines in 2010 before the end of the shutdown, then the earth will not know the way cement. The original Earth cement can avoid this hopeless prospect. 2007, a new production line of Dadi cement was completed and put into production, which is a joint venture with Panzhihua Metallurgical Slag Co., Ltd. Panzhihua Dadi Ring Industry Cement Co., Ltd. However, soon after the construction, Zhejiang Land premium changed hands, first intended to transfer to SichuanJinding, but the joint-venture side Panzhihua Metallurgical Slag Co., Ltd. to give priority to the right to buy 51% of the equity, "Cash for the King," The Warren Group harvest nearly billion cash.　　But this for the Panzhihua Earth cement workers is a bolt from the blue, because the production of backward production is difficult to avoid, so they have this new line as production hope. The pressure to sell large stakes in the Earth's cement capital has not eased. In the November 2008, a huge company due to the lack of a mere 1 million yuan in electricity tariffs led to production, workers collective petitions triggered by the event.　　The Panzhihua Western Government emergency intervention, take out 2 million yuan to pay electricity, staff hardware, etc., only to help the Earth back to the ground cement. After the Warren Group had taken out 9 million yuan to help restore the production of Earth cement, but after the support has been very inadequate. "The Panzhihua West Side related Personage said to the reporter," Now we are helping the Earth cement to carry on the technical transformation, at present the Earth Cement still is in roughly flat, the slight loss condition. "Western government officials are very anxious about the Earth cement situation:" The earth cement itself problem can be solved, but now Warren Group in the end how much hole is not clear, the Earth cement how many assets pledge did not surface is not clear, now the most afraid of is by the Warren Group of the Ripple. After all, this is related to the Earth Cement 800 family stability big problem.　　"According to the news, the Warren Group has been stationed in the Earth cement several managers have been because of economic crime by the Law and Politics department monitoring, the specific reasons are not clear."　　The listed company into the Blood transfusion Machine November 2008 is the Earth cement cement and even the entire Warren group most dangerous time, also at this time, Sichuan jinding once again "a single savior."　　On November 21, on the day the Earth cement was restored to production, Sichuan Golden Summit completed on the people's Cement asset acquisition, and do not say from the public data can see the people's poor cement profitability, only this one acquisition, Sichuan Jinding will take out cash 250 million yuan, and the same year, Sichuan jinding net profit only 22.657 million yuan. The reporter went to Panzhihua Earth Cement Interview, a production technician told reporters: "If it is me, I will never buy people's cement plant, if Sichuan jinding own investment in a production line, not only the quality of cement better than the people, but also cheaper."　　"According to the introduction, because the people before the cement has been a loss, Sichuan golden Dome after the entry of the" Two ", the people of cement technology line renovation, and the cost of the investment here is another matter.　　According to the reporter understand, Sichuan jinding such "loyalty" to the implementation of the Hua LUN Group Strategic Principles, and the company's management structure closely related. According to the Sichuan Golden Summit related people: "Sichuan jinding Board of Directors of the 9 members all from Zhejiang, the first second largest shareholder basically swept the board seat, even independent directors are selected by them."　　"So, Sichuan Golden Summit of the Board of directors often by means of communication, and even in Fuyang convened in Sichuan jinding board of directors." "So, whatever the board decides, Sichuan Jinding only operates, and the board can listen to the views of the Golden Summit in Sichuan, you can not listen. Because, really in the golden Summit in Sichuan people are not members of the board of Directors. "A Sichuan Golden Summit related people told reporters," Chen Jianrong rarely to the Golden Summit in Sichuan, stationed in the Golden Summit in Sichuan are not very few personnel, but also very frequent replacement, often this year, is going to go next year. The estrangement between the two sides is obvious. "Whether it is the Sichuan Golden Dome or Panzhihua Earth Cement has become the Hua Lun Group of pumps, coupled with the Warren Group has been constantly in the set of the Golden Summit in Sichuan, then where is the capital flow?" How big is the capital hole of the Warren Group? This is the most critical issue.　　Said the people in Panzhihua West. Warren Group's multiple expansion swallow bitter fruit in the country hundred counties Zhejiang Fuyang, the Warren Group strength top three, won a lot of fame. In the 2002 Forbes China Private Enterprises tax 50 rankings, Warren ranked 39, 2007 was selected in the country 500 strong enterprises.　　By the end of last year, the group owned 23 companies, sales of 2.097 billion yuan, tax revenue 152 million yuan. But in the 23 years of entrepreneurship, the low-key rich have barely interviewed reporters. May 13, reporters in Fuyang many times, "The cab" incredibly did not know Warren Group headquarters hiding where. After asking around, the reporter came to yingbin North Road 7th, Warren Group Co., Ltd. is located-a 7-storey street, the ordinary small building, the left side of the house, the exterior decoration slightly old and not hanging signs, the hall empty.　　Nearby residents confirmed that this is the Warren Group headquarters.　　About 3 km from the city of Fuyang, 199th Yingbin North Road, here used to be the core industry of Warren Group-the production base of communications industry, but May 13, the scene of the reporter saw is, plant surrounded by weeds, almost no vehicles in and out, from the doorway through the factory glass to wait and see, inside the workers in single digits. A local insider who had dealings with Warren told the newspaper in the early 90, Chen Jianrong The trough of communication cables, leasing and buying idle equipment and factories for many companies, and as the communications industry ushered in a "golden cycle", his assets swelled rapidly and lay a position in the communications industry. But before and after 2005, due to the production of cables, the most important raw materials copper and other plastic products prices soaring, coupled with the growing competition in the industry, cable profit is negligible, Chen Jianrong in the communications sector gradually shrink front, "Warren's cable has been discontinued about 3 years ago, now only a small number of optical cables. "The development of the first-line paper industry in the early days of Warren was gradually" out of favour "due to low profits and environmental protection. Since then, "bold" Chen Jianrong gradually fascinated by the "diversity", which car trade city is a big deal. According to "Fuyang Daily" reported that the start of August 2007, the Hua Lun trade City total investment of about 300 million yuan, is Fuyang government 2007 one of the 10 events, the first phase of 2008 completed. But the reporter in the automobile trade City Phase One project is in the Welcome NorthNo. No. 200, see, there is only one area of the vast 4S shop.　　Nearby residents told reporters that the store is the old Warren plant after the transformation leased to the 4S shop, the blueprint of the automobile trade city should stand in the Warren Communication Group of land, but due to the delay in the funding problem started. High-profit real estate is another major direction of Chen Jianrong.　　It is understood that the Warren Group owns Hangzhou Yuanda Real Estate Co., Ltd., in the Fuyang area to develop a "Kam Wah garden" property, but the plate is not large, local visibility is not high. The person who said that, Chen Jianrong by virtue of the courage of the rapid expansion, but because of its own funds too little, the debt rate has been very high, had to go through the assets to pay Paul.　　He is unfamiliar with the capital market and aggressive, make it repeatedly made a low-level mistake, eventually be beaten back to the original. May 13, 14th, this reporter repeatedly dialed Chen Jianrong's mobile phone, he "in the meeting" as a hastily hung up, sent to the text message also did not reply.　　Fuyang Government related people to this reporter that because of the downturn in the paper and communications industry, Warren Group's current best asset is the cement assets in Sichuan. The government's inability to help. It is understood that, as early as the end of last year, the excessive expansion of the Warren Group capital chain near collapse, the Fuyang government to request support.　　Fuyang the government to start emergency transfer loan funds, for the Warren Group arranged to transfer loans 185.55 million yuan, the coordination of Fuyang Rural Cooperative Bank and Guarantee Unit for its increase of bank loans 40 million, and the government according to law deposit The Warren Group of a land and property, to the Warren Group to pay 20 million yuan. But to promote the Fuyang government to upgrade the "crisis level" is the Warren Group of private lending to the surface. March 18, creditor Hu Jinliang to Fuyang court lawsuit, involving about 20 million yuan of private lending. "The Chinese Government attaches great importance to the local economy and financial stability that the Warren group involves in private lending." "The scary thing is that we don't know how many hidden creditors are lurking in the back," says Fuyang, a government official. April 1, Fuyang various departments jointly set up the Warren Group management crisis Disposal Leadership group, by the mayor Zhang Jinming pro-ren leader.　　April 13, Fuyang held a Warren group of creditor Banks and signed an agreement, clear 2009 before the end of the Bank of China credit, do not delay loans, do not accept loans, at the same time the full implementation of the Warren Group assets clean-up work. Fuyang government departments to provide an exclusive to this newspaper, a material shows that after the incident, the local government has taken the initiative with the Sichuan Jinding, Shaanxi qinling aspects of communication and consultation.　　April 6 to 9th, Fuyang Vice Mayor Pan Zuguang to Shaanxi, Sichuan and other government departments to communicate; April 15, Leshan Commission director and Emeishan mayor to Fuyang communication, the two sides reached agreement, efforts to maintain the Warren Group and Sichuan jinding Group production and operation stability. "But April 17, the Leshan government suddenly unilaterally took coercive measures to the Sichuan jinding Assets application for protection before the Court, some of the assets were seized by the courts, so that the situation has stabilized." "Fuyang Warren Group operatesA member of the crisis management team told reporters that April 18, Fuyang vice Mayor Lu Hongqing again to Leshan the government to communicate, ask the other party to coordinate the cancellation or postpone the frozen Sichuan golden Dome of the lawsuit before the preservation, but was rejected by the other side, "led to the crisis of the Warren Group, the disposal of the work in　　"After that, as we have seen, the story of the" serial lawsuit "continues to unfold, and the creditors in Sichuan and Zhejiang began to bring in intensive lawsuits, scrambling to appeal to the assets of the Warren Group and the Sichuan Golden Summit. Fuyang government remained silent about the amount of 600 million of private lending to the bank's debts and private lending. The authoritative news from the Zhejiang court system said that, according to the relevant departments 1 months ago the assets survey, the Warren Group has a total debt of about 1 billion yuan, of which the private lending scale of up to 600 million yuan. A local lender revealed to our correspondent that Fuyang's underground finances are more active, with a short-term borrowing rate of about 7, 8, and up to 30%, with "many local businesses involved". According to our survey, in Zhejiang Province, in addition to the disclosure of the construction Bank, Societe Generale, Yuan Tai pawn and other cases of Warren Group and subsidiaries, many other financial institutions and a number of private lenders, have been "Warren" to the court. The court said to this newspaper, because the Warren is involved in a number of cases, large sums of money, and involves a number of decentralized creditors, Zhejiang Province High Court has been designated by the Central Court of Hangzhou Central jurisdiction.　　Prior to the introduction of the first case of centralized jurisdiction in Zhejiang Province, it was the case of Shaoxing Jiang Long group which broke out last October. In the past, "star Enterprise" collapsed in an instant, causing a stir in the local area. Fuyang Mayor Zhang Jinming for the first time in a response to a question from a netizen about the Warren incident, organized by the local official website on May 13. "The situation is beyond the expectations of our municipal government, Warren's current situation is indeed very difficult, the disposal of the difficulty is very large."　　He said that the municipal government is still studying the issue of how Warren will proceed next, and that there is no preliminary plan, "the results are expected next week". Zhang Jinming that Chen Jianrong's strategy is right, but the tactics are not right, resulting in runaway investment and a broken capital chain. He said: "Once a business involves private borrowing, the enterprise is going to have problems sooner or later." "The Fuyang government Personage said, the Warren group existing staff 4650 people, the retired worker nearly 3000 people, and involves other enterprise's mutual guarantee, the influence scope is bigger, to the Warren Group's final disposition plan must consider many factors."