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    Home > Biochemistry News > Microbiology News > Huishan Dairy was forced to withdraw from the market: Chairman Yang Kai was Liaoning's richest man, is now the old Lai, more than 30 billion market value of the gray smoke!

    Huishan Dairy was forced to withdraw from the market: Chairman Yang Kai was Liaoning's richest man, is now the old Lai, more than 30 billion market value of the gray smoke!

    • Last Update: 2020-06-20
    • Source: Internet
    • Author: User
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    Huishan Dairy was forced out of the market

    On the evening of

    , the Hong Kong Stock Exchange announced that from 9 a.m

    on December 23, Huishan Dairy's listing status will be cancelled in accordance with the de-listing process

    Since then, the suspension of two years of Huishan Dairy, after three de-listing procedures, its de-listing "trial" finally came to an end

    And Huishan Dairy Chairman Yang Kai, once Liaoning's richest man, has long been included in the national court of breach of trust by the list of executed, that is, commonly known as "old Lai."

    notice that the decision was made because Huishan Dairy did not comply with Section 13.24 of the Listing Rules relating to the possession of sufficient business operations or assets, and therefore placed the company in the first stage of the de-listing process in accordance with the Application Guidelines under Article 17 of the Listing Rules

    the SEHK placed the company in the second and third stages of the de-listing process on 27 September 2018 and 3 May 2019, respectively

    The company did not submit any proposals for a re-listing until the third stage of the de-listing procedure expires on 15 November 2019

    As a result, the SEHK decided to remove the listing status of the company's shares on the Stock Exchange

    Huishan Dairy, a veteran dairy company in Shenyang, Liaoning Province, was listed in Hong Kong in 2013 and had a market capitalisation of about HK$40 billion by March 24, 2017

    Why did you fall into this situation?

    $30 billion in market capitalisation

    in fact, as early as March 2017, Huishan Dairy's shares have been suspended

    Huishan Dairy's share price plunged after it was accused of financial fraud by the short-strapped agency

    Huishan Dairy (6863) plunged nearly 90% in the morning, a record set by Hong Kong's main board

    Within 30 minutes, more than 30 billion people would be wiped out

    Take a look at this spectacular stock chart, like a waterfall

    after Huishan Dairy's share price all the way to a steady, estimated that the heart of the muddy water was collapsed

    Carson Block, the founder of Murky Water, said in an interview that the short-steamed water had not made much money because Huishan Dairy's share price had not fallen sharply, apparently with shareholders and shareholders interested in raising their holdings, and the key to the problem was when the capital chain would break

    on March 24, 2017, with bad news from Huishan

    market news, Huishan Dairy's major shareholders misappropriated 3 billion accounts to invest in real estate, funds can not be recovered, in the United States well-known short-selling agency Muddy Waters short report, the banks went to audit investigation found that Huishan Dairy a pile of documents fraud

    March 24th, the crisis of broken capital chains finally spread to the share price, and Huishan Dairy's market capitalisation of HK$32.2bn was wiped out within an hour, leaving only HK$5.66bn at the close of trading

    a report on huishan restructuring in August 2017 shows that financial debt alone is as high as 38 billion yuan, and debt service is very difficult

    In the next two years, Huishan began to enter a long restructuring phase

    December 2017, Huishan Dairy issued a notice that the Shenyang Intermediate People's Court of Liaoning Province had issued a ruling accepting the application of Huishan Dairy creditors for bankruptcy reorganization of the company's two main subsidiaries and formally initiating the bankruptcy reorganization proceedings

    "text-align:left"," the chairman Yang Kai was liaoning's richest man and is now the old Lai

    Huishan Dairy was founded in 1951, formerly a state-owned enterprise under The Shenyang Agricultural Reclamation Corporation

    According to reports, at the end of 1998, Shenyang Agricultural Reclamation Corporation will be shenyang area of a number of livestock farms, milk companies, dairy processing enterprises together, the formation of the "Shenyang Huishan Dairy Group."

    it is understood that in 2002 Shenyang Dairy is also the largest liquid milk enterprises in the Northeast, liquid milk production is second only to Bright, Sanyuan and Yili, ranking fourth in the country

    In that year, Shenyang Dairy was restructured and external funds were introduced for joint ventures, from state-controlled to Sino-foreign joint ventures

    July 2004, Shenyang Agricultural Reclamation Joint Venture Corporation completely withdrew from Shenyang Dairy, Shenyang Dairy from sino-foreign joint venture to foreign-funded U.S

    Lundy unique, Yang Kai as the new general manager of Shenyang Dairy, responsible for day-to-day operations and management

    December 2004, five months after Lundy acquired the full stake in Shenyang Dairy in the United States, General Manager Yang Kai acquired a 50% stake in Shenyang Dairy

    The statement in Huishan Dairy's listing prospectus explains that "based on Yang Kai's contribution to Shenyang Dairy and all other joint venture companies", the business partner transferred 50% of Shenyang Dairy's interest to Yang Kai

    subsequently undergone equity transfers and changes in the operating entity, culminating in the company's majority shareholder and chairman of Huishan Dairy in August 2012

    in September 2013 Huishan Dairy realized the listing of Hong Kong stocks, after the listing of the stock price fell from more than 3 yuan to 1.2 yuan, and then rose back to about 3 yuan, until March 2017

    Yang Kai, ranked 66th and Liaoning's richest man, was ranked 66th with a fortune of 26 billion yuan

    after the collapse of its share price, on December 7, 2017, the Panshan County People's Court of Liaoning Province announced that Yang Kai, chairman of Huishan Dairy, had been listed as the person executed by the national court for "fulfilling his ability to perform and refused to comply with the obligations established by the legal instruments in force";

    the breach of trust by the executor, commonly known as the "old Lai"

    There will be many adverse consequences for being included in the breach of trust, such as being subject to credit discipline in terms of financing credit, market access, qualification, etc

    , huishan dairy debt crisis broke out, involving financial claims of tens of billions, involving more than 70 creditors, including 23 banks, more than a dozen financial leasing companies and some P2P, private equity institutions

    span style "color: #E53333;""Related: Huishan Dairy, which has been suspended for two years, was forced to withdraw from the market, its share price plunged by nearly 90% in 30 minutes, more than 30 billion market value was wiped out

    on the evening of the 18th, the Hong Kong Stock Exchange announced that Huishan Dairy's shares have been suspended from trading since March 24, 2017

    On 27 March 2018, the Listing Department of the Stock Exchange considered that the company did not comply with the requirements of Section 13.24 of the Listing Rules relating to the possession of sufficient business operations or assets, and placed the company in the first stage of the de-listing process in accordance with the Application Guidelines of Article 17 of the Listing Rules

    Since

    , Huishan Dairy has entered the second and third stages of the de-listing process on 27 September 2018 and 3 May 2019, respectively

    The HKEx said that until the expiration of the third phase of the Huishan Dairy de-listing procedure on 15 November 2019, Huishan Dairy had not submitted any proposals for re-licensing

    Therefore, the HKEx has decided to remove the listing status of the company's shares on the HKEx

    it is understood that during this period, Huishan Dairy has experienced a number of restructuring attempts, but all failed

    On February 8 this year, Huishan Dairy announced that its existing mainland management had submitted a restructuring plan to the administrator covering 83 Chinese subsidiaries, and that if fully implemented, the assets of 83 Chinese subsidiaries would be split from the group and injected into the newly formed company

    However, due to the proportion of opposition of more than 50%, "Liaoning Huishan Dairy Group Co., Ltd

    and other 83 enterprises restructuring plan draft" was rejected at the second creditors meeting

    There are also media reports that Yili Dairy may enter Huishan Dairy with 1.5 billion yuan, becoming the latter's new restructuring party

    But Yili responded to the media by saying that "the project is still under negotiation and there is still uncertainty"

    since then, the suspension of two years of Huishan Dairy, after three de-listing procedures, its de-listing "trial" finally came to an end

    Huishan Dairy, an established dairy company in Shenyang, Liaoning Province, was listed in Hong Kong in 2013 and had a market capitalisation of about HK$40 billion until March 24, 2017

    And all this is set for March 24, 2017, the most memorable day of all Huishan dairy people

    March 24, 2017, an ordinary Friday, with no signs

    That morning, Huishan Dairy (6863) suddenly plunged nearly 90%, setting a hong Kong main board record

    Within 30 minutes, more than 30 billion people would be wiped out

    According to reports, Huishan Dairy's collapse was triggered by the company's audit by the Bank of China found that the account of 3 billion funds were transferred out of the investment in Shenyang real estate, can not be recovered

    in fact all this has long been a trace

    Just three months before the share price plunged in December 2016, the well-known short-selling agency Hunshui twice sniped at Huishan Dairy, directly accusing Huishan Dairy of issuing false financial statements, fabricating "self-sufficiency" lies, the company's value is close to zero

    On December 16 and 19, 2016, Hunshan Dairy released two reports showing that Huishan Dairy had misrepresented its profits since at least 2014, falsely claiming that the feed was largely self-sufficient

    But muddy water found plenty of evidence that Huishan had long bought a large amount of mussels from third parties at a higher price than its alleged cost of home-grown production

    It also questioned the company's chairman, Yang Kai, for allegedly embezzling assets from Huishan, which stole at least 150 million yuan

    but Huishan Dairy immediately refuted, Huishan Dairy Chairman Yang Kai to increase their holdings in response, Huishan Dairy shares stopped falling and rebounded

    Until March 24, 2017, three months later, Huishan Dairy (6863) suddenly plunged by nearly 90% without warning

    A Huishan restructuring data that flowed out in August 2017 showed that Huishan Dairy's financial claims alone amounted to 38 billion yuan

    In December 2017, Huishan Dairy announced that the Shenyang Intermediate People's Court of Liaoning Province had issued a ruling accepting the application of Huishan Dairy creditors for bankruptcy reorganization of two of the company's main subsidiaries and formally initiating bankruptcy reorganization proceedings

    In the next 2 years, Huishan Dairy began to enter a long restructuring phase

    span style" "color: #E53333," the largest liquid milk producer in Liaoning Province, formerly Liaoning's richest man was listed as the "old Lai"

    Huishan Dairy headquarters is located in Shenyang, Liaoning Province, its history can be traced back to 1951, formerly known as the Shenyang Municipal Government set up the "Huishan Dairy Factory" (i.e

    "Shenyang Dairy Supply Station")

    After the integration and change, in 1998 set up Shenyang Dairy Co., Ltd

    In July 2004, Shenyang Dairy was unique from Sino-foreign joint venture to foreign-funded Lundy International, and Yang Kai, who was general manager of Shenyang Lundy Food Products Co., Ltd., became the new general manager of Shenyang Dairy, responsible for day-to-day operations and management

    since then, Yang Kai has been seeking a listing of Huishan Dairy

    In December 2004, five months after Lundy acquired the full stake in Shenyang Dairy in the United States, General Manager Yang Kai acquired a 50% stake in Shenyang Dairy

    In 2009, Liaoning Huishan Holdings (Group) Co., Ltd

    was established, with Yang Kai as President

    In August 2012, Yang Kai became the majority shareholder and chairman of Huishan Dairy

    September 2013, Huishan Dairy was officially listed on the Hong Kong Stock Exchange, with a global offering of US$1.3 billion, making it one of the top 10 global consumer goods companies in history, with a market value of nearly HK$40 billion on the first day of listing, making it one of the top three listed companies in China's dairy industry

    data show that Huishan Dairy is the largest liquid milk producer in Liaoning Province

    According to Huishan Dairy's official website, Huishan Dairy is the first large-scale dairy enterprise to realize milk source all from large-scale self-employed pastures

    At present, has nearly 500,000 mu of grass and auxiliary feed planting base, an annual output of 500,000 tons of dairy cattle special fine feed processing plant, more than 200,000 pure seed imported cows, 82 large-scale self-employed pastures and 6 modern dairy processing production base

    in 2016, Yang Kai was ranked 66th in the Hurun Rich List with a fortune of 26 billion yuan, making him Liaoning's richest man

    However, just a few months later, Huishan Dairy (6863) suddenly plunged by nearly 90%, setting a record for Hong Kong's main board, with more than 30 billion yuan of market capitalisation wiping out

    On December 7, 2017, the Panshan County People's Court of Liaoning Province announced that Yang Kai, chairman of Huishan Dairy, had been included in the list of executors of the national court for breach of trust because he "failed to perform his obligations under the legal instruments in force because he was able to perform it"

    Yang Kai is an authentic Shenyang native, born in 1958, engaged in grain machinery, grain processing, dairy farming and dairy processing and many other agricultural industries for nearly 30 years

    Yang Kai was a representative of the 14th and 15th People's Congresses of Shenyang, the Economic Committee of the 12th Committee of the Chinese People's Political Consultative Conference (CPPCC) and the Science and Technology Committee, and has been awarded many awards and honorary titles, including the top ten economic figures of Liaoning in 2009 and the first outstanding entrepreneurs in Shenyang

    In March 2000, he was awarded the qualification of senior managers of Sino-foreign joint ventures by the Shenyang Economic and Trade Commission, and was appointed as the board of directors of Shandong University and a visiting professor of Shenyang University in 2010

    According to the data of the enterprise investigation, Yang Kai served as legal representative in 119 enterprises, 129 enterprises, 36 holding enterprises, 32 enterprises under the name of the shares were frozen

    it is understood that before entering the mall, Yang Kai worked in government offices

    From Huicheng Zhiqing to the general manager of the enterprise, Yang Kai walked for 25 years, from full control of Huishan to become The richest person in Liaoning, Yang Kai spent 4 years

    But it took less than a year to get from the richest man to the "old man"

    Source:

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