Fly Up To The Gem &Nbsp, Former Jiangsu Kunshan State Assets Bureau Became A Billionaire

In April 12th, the international logistics Limited by Share Ltd (hereinafter referred to as "fly up") from Kunshan, Jiangsu. Gem It was adopted. If everything goes well, Flidida It is expected to be listed in gem for several months. list 。

Statistics show that the net profit attributable to the parent company in 2009 and 2010 is 35 million 547 thousand and 100 yuan and 49 million 275 thousand and 300 yuan respectively, and the total share capital of 107 million shares issued after the issuance is estimated. The company's earnings per diluted share in 2009 are about 0.461 yuan per share. The average price of the gem is estimated to be around 27.66 yuan, based on the average 60 times earnings ratio of the gem at present. 1-9.

This means that Shen Liming, Yao Qin and Wu Youyi, who are three practical controllers of the company, are worth hundreds of millions of dollars.

It is worth mentioning that Shen Liming, the chairman of the company and the representative of the legal person, is a typical official origin. He served as deputy director of Kunshan Finance Bureau, director of Kunshan state assets Bureau and deputy director and director of Kunshan Reform Commission in 1998 -2005. Before June 2010, the company was listed as chairman of Kunshan Kunshan venture Holdings Limited (hereinafter referred to as Kunshan VENTURE HOLDINGS), which has been one of the four major shareholders of the company.

Shen Liming spent more than 10 years from the director of state assets to the wealthy of private enterprises. Although Soochow's sponsor, Soochow securities, said Shen Liming's two identity handover was in line with the provisions of laws and regulations, but it is undeniable that, now, the relationship between them is still difficult to get rid of Shen Liming's relationship.

Former state owned assets bureau grows into billionaires

For Shen Liming, the past 2010 is very critical.

This year, he officially retired from the position of chairman of state owned holding company, Kunshan venture control shareholder, and he and two other natural persons jointly controlled the launch of the launch of the gem. Once the company was successfully listed this year, the former director of state assets will formally complete the transformation from officials to private entrepreneurs.

According to the disclosure report of Feida Da prospectus, Shen Liming holding 40% of Kunshan Feida Cci Capital Ltd (hereinafter referred to as "Feida investment") holds 19 million shares of flying power, which means that indirectly holding's 7 million 600 thousand shares will be among the list of billionaires after its listing.

Statistics show that Philip's predecessor, Philip international, established in 1993, was jointly invested by Kunshan trust (40%) with state-owned assets, Kunshan auto repair plant (30%), 1998 to "atcom auto repair", and foreign capital (Hongkong) Company (40%).

At the beginning of the establishment, Shen Liming and Yao Qin, who became the actual controllers of the company, respectively acted as vice chairman and deputy general manager of Fei Li International.

In 1994, Fei Li International made the first equity change. Kunshan trust, flying power express and auto repair plant transferred 10% of its holdings to Kunshan economic and Technological Development Zone Foreign Trade Company. The registered capital of the company still maintained $1 million 200 thousand.

However, in 2001, Kunshan foreign trade company transferred the 30% stake in Fei Li International, and Kunshan's Jishi declaration and Ya Tong Auto repair were granted 25% and 5% respectively. In addition, Fei Li express also transferred 5% of the shares to the trust fund, so that Kunshan trust, Ya Tong Auto repair, Fei Li express and Jishi declarations held 25% of the shares of Philip international. After that, 4 shareholders also made a capital increase in 2003 according to the same proportion, and the registered capital of Fei Li International increased to 2 million 712 thousand US dollars.

The transfer appeared in 2005. Prior to that, Shen Liming became chairman of Philip international in April 1998. Yao Qin became general manager of Philip international in October 1996 and Wu Youyi, representing the custom brokers company in October 2001, became Vice Chairman of the company.

In February 2005, as the central bank and Jiangsu began to rectify the trust industry, the 25% stake of the revoked Kunshan trust holding Philip international was transferred to Kunshan venture holding company by Wuchang. At the same time, 25% of foreign capital's flying shares were transferred to another company named Fei Li logistics (Hongkong).

It needs to be pointed out that Fei Li logistics (Hongkong), founded in 2003, is actually a joint venture company established by Philip international management and others. Apart from Guo Wenrong and Wang Chengfa holding 702 thousand HK dollars in capital stock respectively, Yao Qin, the controller of the Asian auto repair company, the controller Wu Youyi of Jishi declaration and Chen Yan of natural person contributed 468 thousand Hong Kong dollars respectively. The vice president of the company, Wang Xiaojuan and director of human resources, contributed 156 thousand Hong Kong dollars respectively.

Chen Yan is the spouses of Shen Liming, chairman of Philip international, which means Shen Liming indirectly held 10% of Philip International's status through his spouse.

According to the disclosure, in January 2005, before the equity change, Shen Liming was relieved from the post of general manager of the Kunshan Municipal Reform Commission and Kunshan venture holding company. "No longer serve as a public office in the government departments, and no longer perform duties in the civil service".

However, it is difficult to understand that after the appointment and removal of personnel, Shen Liming still holds the post of chairman of Kunshan venture holdings.

Statistics show that the Kunshan venture holding company established in 2001 is solely state-owned, and the main business is responsible for investment, operation and management of state-owned (collective) assets within the authorized scope.

In fact, after the completion of the equity transfer, Shen Liming, the chairman of the Kunshan venture holding company, still holds 25% of Philip international, and Shen's status is obviously between public and private.

After two or three years of development, Fei Li International has begun to scale. The company realized 546 million yuan income and 42 million 610 thousand yuan net profit in 2007. The company began to brew a listing tour, and Shen Liming, the chairman of the company, also started to come to the front desk.

In April 2008, fehli logistics (Hongkong) transferred its 25% stake in feitli international to 25 million 144 thousand and 400 yuan for the Feida investment, which has just been established for about 1 months.

It is understood that Feida investment registered capital of 27 million yuan, funded by Fei Li international management, including Shen Liming, Yao Qin and Wu Youyi invested 40%, 28% and 16% respectively, and Wang Xiaojuan, Shen Lili and other 18 natural persons held the remaining shares.

However, according to the State Council SASAC's "opinions on regulating employee stock ownership and investment in Kunshan" issued by the State Council in September 2008, Shen Liming, who is the chairman of the state owned enterprise holding holding company in Kunshan, obviously belongs to the normative category. According to the disclosure by Fei Li Da, the Kunshan municipal Party committee and the SASAC in June 2010 officially removed the position of Kunshan venture holding chairman.

This means that in the past 5 years, Shen liming, chairman of the Kunshan venture holding company, which is responsible for the total assets of over 10 billion, has been running private holding company fly Li Da shares with its two main partners.

What is even more surprising is that although Soochow securities claimed that Shen Liming's resignation formalities had been formally completed in June 2010, Shen Li did not seem to have completely cut off relations with Kunshan venture holdings. According to the information published on the official website of Kunshan venture holdings, in January 10, 2011, Shen Liming also presented the new year's greetings before the new year's reception on the same night as the party secretary of Kunshan venture holding company.