Huge earthquake in the real estate circle! Four state-owned enterprise executives "fall off the horse" on the same day

time:2023-01-30 05:38:19source:chakarski.com author:Trend
Huge earthquake in the real estate circle! Four state-owned enterprise executives "fall off the horse" on the same day

Four executives were investigated in one day, and the real estate anti-corruption continued. Tang Yong, former chairman of China Resources Land, Liu Hui, deputy general manager of Shenzhen Talent Housing Group, Zhuang Yuekai, chairman of Xiamen C&D Inc., and Shi Zhen, chairman of C&D Services, within one day, four central and state-owned real estate executives in Shenzhen and Xiamen. At the same time, it was shocking. Suspected of Serious Violations of Discipline and Law According to the website of the Sichuan Provincial Commission for Discipline Inspection on August 23, Tang Yong, the former Secretary of the Party Committee, Chairman of the Board of Directors and CEO of China Resources Land Co., Ltd., was suspected of serious violations of laws and regulations. Currently, the Disciplinary Committee of China Resources Group is conducting a disciplinary review. The State Supervisory Commission designated the Sichuan Provincial Supervisory Commission to have jurisdiction, and the Sichuan Provincial Supervisory Commission designated the Mianyang Municipal Supervisory Commission to have the jurisdiction. The Mianyang Municipal Supervisory Commission is conducting a supervisory investigation. China Resources Land is an important business segment of the state-owned China Resources Group and one of the top ten real estate developers in China. On the same day, the Shenzhen Municipal Commission for Disciplinary Inspection and the Shenzhen Municipal Supervision Commission issued an announcement stating that Liu Hui, deputy general manager of Shenzhen Talent Housing Group Co., Ltd., was suspected of serious violations of discipline and law, and is currently undergoing disciplinary review and supervision investigation. Shenzhen Talent Housing Group is a wholly-owned company under the Shenzhen State-owned Assets Supervision and Administration Commission. Its main function is to build and raise talent housing, affordable commercial housing and public rental housing. A total of 158,000 public housing units have been built and 58,000 public housing units have been supplied, accounting for about 58,000 units of public housing in Shenzhen during the same period. one-third of the amount. At 20:30 that night, the website of Xiamen Municipal Commission for Discipline Inspection and Supervision issued an announcement that Zhuang Yuekai, member of the Party Committee and Deputy General Manager of Xiamen C&D Group Co., Ltd., Party Secretary and Chairman of C&D Real Estate Group Co., Ltd., was suspected of serious violations of discipline and law, and is currently accepting Xiamen C&D Inc. The Municipal Commission for Discipline Inspection and Supervision shall conduct disciplinary review and supervision investigation. At the same time, Shi Zhen, member of the party committee of Xiamen C&D Group Co., Ltd., secretary of the party committee and chairman of Xiamen C&D City Service Development Co., Ltd., is suspected of serious violations of discipline and law, and is also undergoing disciplinary review and supervision investigation by the Xiamen Municipal Commission for Discipline Inspection. Xiamen C&D Inc. is also a state-owned enterprise in Xiamen, with a revenue of 700 billion yuan, ranking among the Fortune Global 500. Four central and state-owned enterprise real estate executives have been investigated intensively, showing that the anti-corruption in real estate has further deepened, and has spread from private real estate enterprises to state-owned real estate enterprises, and it is a large state-owned enterprise. Prior to this, most of the anti-corruption efforts in the real estate industry focused on private real estate companies such as Wanda and Xuhui. The capital market reacted violently. After the opening of the market on August 24, the stock prices of many listed companies in C&D Corporation fell sharply. Among them, C&D Inc. and C&D Hecheng fell by the limit. The stock price of the company has rebounded; as of press time, the stock price of China Resources Land has also fallen by 4.04%, and China Resources Vientiane Life has fallen by 4.35%. Among the four "fallen horses", Tang Yong, the former chairman of China Resources Land, is the most famous. As a "child soldier" of China Resources Group, Tang Yong has been working in the system of China Resources Group since he graduated from Tongji University in 1993, and it has been 29 years since he was investigated. Tang Yong was at the helm of China Resources Land Chengdu Company. In 2010, China Resources Land's annual sales were 22.3 billion yuan, and the Chengdu company contributed 4.85 billion yuan, twice the sales of the second-ranked Beijing company. Also since 2010, Tang Yong has gradually approached the core of power of China Resources Land, and successively served as senior vice president, president and general manager of Chengdu Region of China Resources Land Co., Ltd. And since 2013, he was appointed as the executive director of China Resources Land. In 2014, after Wu Xiangdong resigned as the chairman of the board of directors of China Resources Land, Tang Yong took over the work of China Resources Land as the vice chairman of the board of directors of China Resources Land. Meanwhile, the chairmanship of China Resources Land has been vacant for five years. In the five years when the chairman of the board of directors was vacant, China Resources Land has gradually formed an "iron triangle" dominated by Tang Yong, Zhang Dawei and Li Xin. And Tang Yong's highlight moment was to take over the chairmanship of China Resources Land and become the veritable helm of this state-owned real estate developer. In 2019, Wu Xiangdong resigned as executive director of China Resources Land to join China Fortune Land Development. Tang Yongcai was appointed chairman of the board of directors of China Resources Land in February of that year. However, Tang Yong’s time at the helm of China Resources Land was not long. After 10 months, Tang Yong was transferred from China Resources Land to China Resources Power Holdings. Although in China Resources' business map, the transfer between the two companies is considered a smooth adjustment, but Tang Yong's annual salary and bonus have also dropped from over 10 million yuan to less than 5 million yuan. Before the investigation, Tang Yong had left the management position of the specific business sector of China Resources Group. After resigning as Secretary of the Party Committee and President of China Resources Power Holdings Co., Ltd. in September last year, Tang Yong successively served as a full-time external director of the business unit of China Resources Group and a professional director of China Resources Modern Service Co., Ltd. It was a bit unexpected that the executives of Shenzhen Talent Housing Group were investigated. This company is mainly engaged in the construction of affordable housing. In the past, its presence in the real estate industry was mainly in the process of acquiring land. The investigation of two heavyweight executives from Xiamen C&D Department was a sensational event in the Xiamen real estate industry. As a representative of the new Fujian family of real estate, C&D has performed vigorously in the past few years. It is not yet clear about the specific circumstances of Tang Yong and others suspected of violating discipline and law, but the companies they are involved in do not want to be affected. Relevant state-owned enterprises believe that personal problems and organizational (company) problems are two different things and should be treated differently. After Wang Xiangming resigned in May 2022 and Li Xin took over as chairman of China Resources Land, China Resources Land, a state-owned enterprise, has entered another new stage of development. Listed companies responded one after another. Many companies in the C&D Department also responded. On the evening of August 23, C&D International Group, C&D Property, C&D Hecheng and many other companies with persons under investigation successively announced that the company's operations are normal at present, and that the matter is not significant to the company's production and operation. influences. On the evening of August 23, C&D International Group, which is listed on the Hong Kong Stock Exchange, announced that it was informed that Zhuang Yuekai, the chairman of the board and executive director, was undergoing disciplinary review and supervision investigation by the Xiamen Municipal Commission for Discipline Inspection and Supervision. The company is currently operating normally. That night, C&D Property also issued an announcement, saying that the company's operations are normal at present, and further announcements will be released in due course in accordance with relevant laws and regulations and listing rules. C&D Hecheng also issued an announcement. C&D Hecheng stated that Zhuang Yuekai did not hold any other positions in the company except as the chairman of the company and a member of the strategy committee of the board of directors. As of the date of this announcement, the company's various businesses are operating normally, and this matter has no significant adverse impact on the company's production and operation. The company will pay attention to the follow-up progress and timely perform relevant procedures and information disclosure obligations in accordance with relevant regulations. According to the data, C&D Hecheng was formerly Hecheng Co., Ltd. In 2016, Hecheng shares were listed on the A-share market. According to the announcement data, Zhuang Yuekai joined Xiamen C&D Group in 1986, and has worked in C&D Real Estate Group since 1998. He has served as assistant to the general manager of Xiamen C&D Group, general manager and chairman of C&D Real Estate Group. He is currently the Deputy General Manager of Xiamen C&D Group, Chairman of C&D Real Estate Group, Executive Director and Chairman of the Board of C&D International Investment Group, and Non-Executive Director and Chairman of the Board of C&D Property Management Group. Fundamentally, the company will achieve operating income of 841 million yuan in 2021, a year-on-year increase of 5.60%; net profit of 40.43 million yuan, a year-on-year decrease of 14.34%. In the first half of 2022, the company achieved operating income of 320 million yuan, a year-on-year decrease of 7.92%; net profit was 10.3 million yuan, a year-on-year decrease of 46.8%. The company stated that the revenue and profit in the first half of the year decreased compared with the same period of last year, mainly due to multiple factors such as extreme heavy rainfall, repeated epidemics and the development of new construction businesses in the first half of the year. Many people in the real estate industry believe that the investigation of executives of central and state-owned enterprises will generally not affect the company's operations too much, and will also separate personal matters from the company. The continuous and in-depth anti-corruption in real estate also reflects that the golden age of barbaric growth in real estate has really passed. ⭐Follow the knowledge of real estate, and you can master it. This article does not constitute personal investment advice, nor does it take into account the special investment goals, financial situation or needs of individual users. Users should consider whether any opinions, views or conclusions contained herein are appropriate to their particular circumstances. There are risks in the market, investment needs to be cautious, please make independent judgments and decisions. Real estate anti-corruption
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