标签归档 杭州品茶工作室

An announcement that Hengda Property sued Hengda for 2 billion exposed the internal entanglement of the "father and son".

In fact, it is not only Hengda Property that has taken the parent company to court. Since the beginning of this year, there have been many cases of property companies recovering accounts receivable from related real estate companies. At present, the real estate industry is in a downward cycle, and the capital problems of real estate related parties often lead to the impact of property companies, especially listed property companies. On the one hand, they are suspected of "blood transfusion" parent company. On the other hand, the real estate liquidity crisis has caused a large number of bad debts of property companies in accounts receivable, which has affected the profitability level.

In the opinion of industry experts, establishing a regulatory system for the use of property management fees in the property industry to ensure that project funds can be misappropriated at least is the key to preventing such incidents.

Hengda property to China Hengda recover 2 billion yuan

On November 28, Hengda Property announced that regarding the enforcement of its deposit pledge of about 13.40 billion yuan by the relevant banks, its wholly-owned subsidiary Jinbi Property has filed a lawsuit with the Intermediate People’s Court of Guangzhou City, Guangdong Province, China, for the recovery of Shenzhen Qihang Metal Materials Co., Ltd., Guizhou Guangjuyuan Real Estate Development Co., Ltd., Hengda Real Estate Group Co., Ltd., Hengda Real Estate Group Co., Ltd., and China Hengda Group for the enforcement of the deposit certificate pledge guarantee of about 2 billion yuan by the bank. It requires the relevant responsible parties to repay about 1.996 billion yuan and the provisional interest of about 150 million yuan. Hengda Property said in the announcement that it has received the notice of the court’s formal acceptance of the case on November 28.

On November 29, China Evergrande announced that it had paid attention to Hengda Property’s announcement on November 28 that Jinbi Property (a subsidiary of Hengda Property) had sued China Evergrande and three related subsidiaries for the enforcement of the 2 billion yuan deposit certificate pledge guarantee by the bank. As of now, China Evergrande has not received the notice of the Guangzhou Intermediate People’s Court to file a lawsuit against Jinbi Property.

It is well known that China Evergrande and Evergrande Property have a "father and son" relationship, and the public litigation at this time also exposed its internal entanglements.

In this regard, Yuan Chengjian, co-founder of Jiancheng Shengye, believes that from the perspective of legal relationship, although the two companies are affiliated companies, they are also two independent listed companies. Adopting such a legal and responsible handling method for shareholders can protect the interests of Hengda property shareholders during the handling of Hengda real estate debt, and also provide a reference for other similar events.

"But judging from the current situation, this treatment method has little practical effect, and it is estimated that the misappropriated funds that can be truly recovered will not be too much, or even just a kind of debt confirmation." Yuan Chengjian said.

Wang Yuchen, director of Beijing Jinsheng Law Firm, also pointed out that even if Hengda Property eventually wins the case, it will be difficult to recover the money, because judging from the current financial situation of China Evergrande, there may also be difficulties in implementation.

Xinyuan Service and Jinke Service also "collect debts" from the parent company

Taking the parent company to court is not just Hengda Property, but also the case of property service companies collecting debts from affiliated real estate companies.

On August 15 this year, Xinyuan Service announced that the financing obtained from its pledge was finally transferred to Xinyuan Real Estate for its daily business activities, namely project construction and delivery guarantee. Subsequently, Xinyuan Service submitted an arbitration against Xinyuan Real Estate to the Hong Kong International Arbitration Center, claiming to recover any losses suffered by the company on the mortgage.

It is reported that Xinyuan Real Estate holds shares in Xinyuan Service 300 million with a shareholding ratio of 60%. Xinyuan Real Estate is wholly owned by Xinyuan Real Estate.

In October this year, Xinyuan Service announced that the Hong Kong Arbitration Center has made a final and legally binding arbitration award, requiring Xinyuan Real Estate to immediately pay the losses suffered by Xinyuan Service, including the deposit principal of 402 million yuan, the time deposit interest loss of 2443.82 million yuan and the cost of review and investigation, totaling about 430 million yuan. On November 15, Xinyuan Service, which has been suspended for one year, issued two announcements to update its resumption progress.

In addition, the related party transaction between Jinke Services and Jinke shares has also been a source of concern.

Jinke shares received the litigation materials from the Chongqing No. 1 Intermediate People’s Court on May 29, and learned that the plaintiff Jinke Service Sued Company and its holding subsidiaries’ case on loan contract disputes has been accepted by the court. Jinke shares are requested to immediately return the principal of the loan of Jinke Smart Service 1.50 billion yuan, the interest as of March 20, 2023 32.3327 million yuan and the interest from March 21 to the settlement date.

On August 13, Jinke Services announced that the relevant member companies of Jinke Shares will transfer their respective offset properties to Jinke Services as payment in lieu of the payables due from the continuing related party transaction. The amount involved is 20.40 million yuan, and the offset properties include 36 items, with a total valuation of 20.80 million yuan. Although the relevant member companies of Jinke Shares have transferred 36 offset properties to offset the payables of about 20.40 million yuan, the scale of debt offset is still relatively limited compared to the litigation amount of about 1.50 billion yuan.

At that time, Jinke Service proposed in the announcement that Jinke shares were currently facing a serious liquidity crisis, and therefore could not settle the payments due to the company in cash. In view of the relevant circumstances, the company had reduced the provision of property management services or non-owner value-added services to Jinke shares.

Industry: Establishing a regulatory system is the key to prevention

In recent years, the profitability of property enterprises has declined significantly, among which the clearing of risks such as related party transactions is the main reason. In this regard, the Middle Finger Research Institute analyzed that the real estate liquidity crisis has caused a large number of bad accounts receivable of property companies, which has greatly affected the level of profitability. For example, in 2022, the average value of accounts receivable and bills of listed companies in property services was 1.531 billion yuan, an increase of 36.45% year-on-year; some listed companies disclosed the accounts receivable from related companies, and the average value of this indicator was 173 million yuan, an increase of 63.21% year-on-year. With the expansion of the scale of accounts receivable, the turnover days of accounts receivable have slowed down significantly. In 2022, the bad debt provisions for accounts receivable accrued by property management companies have generally increased. Some companies have made a large amount of impairment against the accounts receivable of related real estate enterprises, which has a significant impact on their performance.

In fact, in the past two years, the real estate industry has been in a downward cycle, and many property companies have also been affected by the financial problems of real estate related parties. On the one hand, the financial independence of listed property companies has been questioned, and they are suspected of "blood transfusion" parent companies. On the other hand, a large number of related party transactions receivables cannot be collected.

In this regard, Yuan Chengjian believes that establishing a regulatory system for the use of property management fees in the property industry to ensure that project funds can be misappropriated at least is the key to preventing such incidents, and it is also a true system guarantee for owners to be responsible.

Beijing News reporter, Yuan Xiuli

Editor, Yang Juanjuan, Proofreader, Wang Xin

The film "Fortress" was premiered in Beijing on March 20th. Director Han Keyi, actors Guo Xiaodong, Chen Douling, Jinggangshan, Lv Xin, Yang Bo, Feng Hao and Liao Mengyan made their debut together, attended the red carpet ceremony and chatted with the audience after the screening. The atmosphere was warm. On the same day, the film exposed the "incoming" version of the poster, and for the first time fully disclosed the shape of the entire lineup, which made the audience’s expectations more and more high. The film will be released nationwide on March 22, and the pre-sale has been fully opened!

The main creation gathered at the scene to see the sincere belief and profound interpretation, which won numerous praises from the audience.

The film "Fortress" is adapted from real history, and takes five party member-Mao Fuxuan, Mao Xinmei, Li Genghou, Zhong Zhishen and Pang Shukan, who are known as "the five outstanding figures in Shaoshan", as the archetypes, and skillfully integrates the elements of spy war and suspense into the historical background, showing the heroic story of revolutionary volunteers fighting with enemy agents in the hidden front.

The theme of the premiere was "Please Break the Bureau", and relevant leaders such as Huaxia Film Distribution Co., Ltd., Publicity Department of the Communist Party of China Film Satellite Channel, Xiangtan Municipal Committee, Propaganda Department of Xiangtan Municipal Committee and Xiaoxiang Film Group were specially invited to attend. At the event site, the main creator unveiled the story behind the scenes and ignited the enthusiasm of fans. When talking about how to create this film, the director said that "Fortress" has a prototype story, and the team has read a lot of materials and done a lot of homework. Every character in the film is worth exploring. I hope this film can make everyone deeply understand this history and learn the power of faith from the game between the enemy and me. Guo Xiaodong, who plays the role of Shen Zhuoyi, said that this role is very challenging, which is very different from his previous roles. He dedicated his first experience as a villain to Fortress, explaining that the role is like a dark star dancing alone. Chen Douling also lamented the role of Hong Zheng, saying that Hong Zheng showed many feminine qualities. Although she was afraid but not timid in the face of enemy agents, she could grow in adversity like chamomile. Jinggangshan shares the role of Yang Jingchen by sincerely treating Mao Jiaxuan as a brother. Although he often plays the villain, this role is actually very hierarchical. In addition, actors Chen Minghao and Li Yitong and singer Chen Chusheng, the singer of the ending song "Waiting for Dawn", regretfully missed the premiere, specially recorded VCRs to send blessings, and more friends from the circle such as actors Cheng Lisha, Che Yong li, Meng Tingyi, Wang Yanan, Huan Wang, Aisha and Yang Ziyi were present to help out.

In the work Fortress, the wonderful collision between characters has undoubtedly become a highlight of the film, bringing countless unforgettable scenes to the audience. Fans have also expressed their love for movies, among which "the plot is tight and gripping", "the confrontation between good and evil is full of energy", "the role is full and three-dimensional" and "the emotion is sincere and makes people cry" are frequently mentioned. The audience were all attracted by the storyline in the film, and were deeply touched by the characters’ unswerving faith and fearless spirit.

The uncle circle’s drag show makes the audience hooked, and the survival rule of spy war makes people laugh.

The ups and downs of the film’s development trend made the audience scream, and the excellent acting skills of all the staff directly hit the audience’s heart, especially with the dramas of powerful actors such as Chen Minghao, Guo Xiaodong and Jinggangshan, which made the audience smile in a tense viewing atmosphere. The film focuses on investigating the secret identity "Pang Defu". In order to find out the truth, Shen Zhuoyi suddenly parachuted into the police station. In order to save himself, Mao Jiaxuan spared no effort to please the leader Yang Jingchen. The film profoundly reveals the survival law of the spy war workplace, and at the same time reflects the interpersonal relationship in the contemporary workplace. The audience sighed and saw the true portrayal of the workplace, and even expressed their admiration for the acting skills of the uncle circle actors in the post-screening session. The status of the role is far ahead, which is very emotional.

The film "Fortress" is excellent in character shaping and plot design, which makes the audience feel the complexity and profundity of human nature and highlights the dedication and greatness of revolutionaries. Mao Jiaxuan, played by Chen Minghao, has a sleek and sophisticated surface, but sticks to his faith in his heart, always facing the heavy pressure and danger from hostile forces. Shen Zhuoyi, played by Guo Xiaodong, is a typical elite in the workplace, smart and resourceful, and good at using all resources to achieve his goals. Yang Jingchen, played by Jinggangshan, is arrogant to his subordinates, but obedient to oversight, which fully shows the tactics and tricks. The intricate relationship and conflict between them have injected rich drama into the film, which makes the audience’s emotions fluctuate and always look forward to the next development.

Who will be reborn in the spy city fight? All the staff will stage a reversal drama and the suspense will be upgraded.

Today, the movie "Fortress" released an "incoming" poster, and all the staff gathered coldly under the stormy spy city, adding tension to the contradictions and conflicts, and a tense momentum filled the air. Although it was a silent confrontation, the real reaction of each character in a life-and-death crisis was revealed, which made people hold their breath.

Chen Minghao’s eyes are firm, but it is unpredictable; Guo Xiaodong’s face is unfathomable, and it makes people nervous in silence; Li Yitong’s eyebrows slightly wrinkled, full of complicated worries; Chen Douling’s eyes are bold, showing a fearless; Jinggangshan’s expression is meaningful and vaguely murderous. In addition, Song Ningfeng, An ‘an, Bai En, Zhang Aoyue, Yang Bo, Yi Heng and other leading actors all appeared, and the boundaries between the forces of all parties became blurred, and the distinction between good and evil became more and more confusing. Who can survive in this life-and-death contest? Let’s wait and see on March 22nd.

The film "Fortress" was produced by Xiaoxiang Film Group Co., Ltd., Tianjin Cat’s Eye Microfilm Culture Media Co., Ltd., Xiangtan Daily, Xiangtan Zhaoshan Cultural Industry Development Co., Ltd., Xiangtan Urban and Rural Construction Development Group Co., Ltd., Xiangtan Radio and Television Station, Shaoshan High-tech Construction Investment Co., Ltd., and jointly produced by Hunan Xiaoxiang Youth Film Co., Ltd. and Hunan Manhao Film Co., Ltd. In the hot pre-sale of the film, I look forward to meeting the audience on the screen!

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Live on March 11th According to the Daily Telegraph, the owner of West Ham has no intention of selling the team, and the top management of the team now trusts moyers.

It is reported that David Sullivan, the owner of West Ham, said that he has no intention of selling the team, which means that moyers’s job is safe at present. At present, West Ham still has 13 games to play in the Premier League, and the fans of the team are still full of hope for West Ham. Although West Ham is currently only 16th in the Premier League standings, they are confident that they can change the current situation.

For a long time, it has been thought that Czech billionaire Clay Tynsky, who owns 27% of the club, will launch the acquisition of West Ham, but if Clay Tynsky wants to launch a comprehensive acquisition, he must obtain the consent of David Sullivan (holding 38.8%) and the family of the deceased co-owner David Gold (holding 25.1%) before starting the acquisition process. Logically speaking, Clay Tynsky is unlikely to make an offer at present, because the current situation of West Ham in the Premier League is still unclear, and if relegated to the Championship, it will obviously affect the value of the club. In addition, even if it is sold, David Sullivan will not sell West Ham at a low price. According to sources, David Sullivan has no intention of selling West Ham, and he has not even considered doing so.

West Ham are currently playing in the UEFA, and they are facing teams with average strength in this level of European war, which is completely different from their opponents in the Premier League. In last week’s UEFA competition, they beat AEK Larnaca 2-0 away, which was their ninth consecutive victory in this competition. If West Ham can win this tournament, it will be the team’s first European trophy since 1965, and more importantly, it will also ensure their qualification for the Europa League next season. However, West Ham’s performance in the Premier League is somewhat disappointing. They have not won in the past eleven away games. Although the fans shouted moyers’s dismissal after West Ham’s 4-0 defeat to Brighton, as far as the current situation is concerned, moyers’s position is still very stable. However, according to relevant media reports, West Ham is currently considering short-term and long-term substitutes to replace moyers, and Nuno Espirito Santo, Benitez and Dych are all considered as potential choices.

Moyers has one year left on his contract with West Ham, and they may end their cooperation with moyers when his contract expires. Last summer, West Ham invested 160 million pounds in the transfer market, which is the third highest transfer expenditure in the Premier League. In addition, West Ham signed Danny Ince in the winter window that year. People hope that West Ham can challenge the qualification of the Champions League instead of struggling to avoid relegation. Moyers’s team has been plagued by injuries this season, and his tactics have been questioned by people. However, the team’s offensive line scored only 23 goals in 25 games, which really made him feel a little overwhelmed. However, West Ham hopes that moyers’s experience will help the team overcome the difficulties and try to win a trophy.