The “Xu Xiang Case”, which has attracted much attention, will set off a new wave.

On May 31, Weibo ’s authentication name “Yingying-ying” released a news about the latest progress of Xu Xiang ’s asset screening. As confirmed by the Securities Times · e company, the information publisher Ying Ying-ying is indeed Xu Xiang’s wife Ying Ying.


1. Asset screening is coming to an end

The open letter shows that the Qingdao Intermediate People ’s Court has made clear that the asset screening of the Xu Xiang case is coming to an end.

“Recently, my lawyer and I went to the Qingdao Intermediate Court to have face-to-face communication with the judge. This is the first time the judge told me that the assets under seal and freeze The screening is coming to an end. It will be handed over for execution soon, and I think this is good news. “May 31, Ying Ying told the Securities Times · e Company.

In 2015, the case of Xu Xiang, a former “private placement one brother”, resulted in the seizure, seizure and freezing of approximately 21 billion family property by the judiciary. On January 22, 2017, Xu Xiang was found guilty of manipulating the securities market, sentenced to 5 years and 6 months in prison, confiscated illegal proceeds of more than 9 billion, and fined 11 billion yuan.

However, during the execution of the Xu Xiang case, several practical problems occurred: First, the assets had been sealed up, seized, or frozen before the judgment, but some were The common property of Xu Xiang’s family and the couples of Xu Xiang and Ying Ying. Second, some of Xu Xiang ’s friends have been implicated in the Xu Xiang case, and their assets have been frozen and they have not been able to unblock them.

In January 2018, 9 domestic authoritative experts in criminal law and criminal procedure lawIn the case of Xiang ’s property enforcement, a legal argument was made, and the experts agreed that “the recovery of illegal income should adhere to the principle of who actually obtains who pays. The legal property cannot be used as a refund by Xu Xiang. Xiang ’s personal property ca n’t be connected to his spouse and other family members. ” Subsequently, the expert opinion was submitted to the court.

However, the pending matters surrounding the seizure of assets around the Xu Xiang family case have been slow and without significant progress. Against this background, in the past few years, Ying Ying and Xu Xiang ’s parents have advocated their legal rights through lawyers.

In this open letter, Ying Ying said, “The Qingdao Intermediate People ’s Court ’s law enforcement officer made it clear that the fine was only for Xu Xiang himself and also confirmed that Xu Xiang ’s parents and I had legal assets. The ownership of will be returned to me after being divided according to law. “


2. How to divide the 12 billion yuan assets

“Asset division will be a matter of the implementation phase. Of course, I am doing this in advance with the lawyer Part of the work. “Ying Ying to the Securities Times · e Company.

The asset screening of Xu Xiang case is coming to an end, which is good news for Ying Ying, Xu Xiang ’s parents and their relatives and friends. However, when dividing assets, new suspense will appear.

Xu Xiang ’s wife Ying Ying filed for divorce with the court in March 2019 and claims that child custody and husband ’s property should be handled according to law. The case opened in August last year in the Qingdao prison where Xu Xiang was detained. Today, the sentence for the divorce case has been postponed twice, with no result yet.

Ying Ying proposed that the divorce was also questioned by the outside world as a “technical divorce”, the real purpose is to preserve Xu Xiang ’s assets. Now that asset screening is coming to an end, will this divorce still take place?

In this regard, Ying Ying told the Securities Times · e company, “Divorce cases and asset screening are two different things. Even if it is not a divorce, it is my personal legal property. The court alsoIs for me. However, the divorce from Xu Xiang was also mixed with other reasons. ”

Earlier, Ying Ying had stated in an interview that about 12 billion yuan of these properties are personal legal property not related to the case, and these properties include our husband and wife Common property, including the legal property of Xu Xiang ’s parents, son, and Zexi company, etc., may also be seized, frozen, sealed up, and detained, and may also include the legal property of others, which should be returned. < br>

From the time point of view, Xu Xiang started stock trading at the age of 17 and has not yet reached the age of majority. The initial funds were provided by his parents. The well-known “Zhexi Department”.

Yingying told the Securities Times · e company, “If you divide, I personally think that most of these illegal assets are Xu Xiang earned it, so most of this part of the funds is the legal property shared by Xu Xiang and my husband. Xu Xiang ’s parents, I also recognize the rights and interests of his parents. As for the specific division, the court needs to divide it according to law. ”

It is reported that the legal property of the Xu Xiang family should be the deduction of the legal property of parents and others, and then the remaining common property of the husband and wife should be divided to remove the wife of Xu Xiang Half of the legal property, and the remaining part is Xu Xiang ’s personal property, should be executed as a fine.

“I hope that as soon as possible, the long-term equity freeze will affect the listed company too. Bigger, and unfair to investors. Whether it is thawing or disposal, it should not be dragged on for so long. “Ying Ying told the Securities Times · e company that no matter how the company’s equity is divided or divided, whether it belongs to me or other disposal methods, after entering the execution stage, the company will turn a new page.


3. The two listed companies are afraid of a huge earthquake

The assets seized and frozen in the “Xu Xiang Case” are The two companies of Daheng Technology have attracted the most attention.

In February 2014, Tibet Zetian Investment Development Co., Ltd. invested RMB 320 million at the price of RMB 9.1 per share, and was transferred to Ningbo Zhongbai ’s former major shareholder, Octopus Group 15.69% shares. Subsequently, when competing for a controlling stake, Zetian Investment’s shareholding increased to 15.78%.

On November 24, 2014, the new era and Xu Xiang ’s mother Zheng SuZhen signed the “Share Transfer Agreement” and transferred approximately 129 million shares (29.52% of the company’s total share capital) held by Daheng Technology to Zheng Suzhen for a total transfer price of RMB 1.202 billion. Without touching the 30% tender offer line, Zheng Suzhen became the largest shareholder of Daheng Technology.

As of now, Zheng Suzhen holds 29.75% of Daheng Technology and is the actual controller of the company; Tibet Zetian Investment Development Co., Ltd. holds 15.78% of Ningbo Zhongbai. Xu Bailiang (Xu Xiang’s father) is the actual controller of the company.



Once the assets of Xu Xiang ’s family are divided, it is bound to involve changes in the senior management of the two companies.

From the perspective of Ningbo Zhongbai, the company ’s current executive team includes Chairman Ying Feijun, Vice Chairman Yan Peng, Chairman Zhao Yibo, Director Zhang Bing, and the Supervisory Board Chairman Xu Zhengmin, supervisor Yao Jiarong and others all have the background of “Zhexi Department”.

From the perspective of Daheng Technology, the company ’s current senior management team includes Chairman Lu Yongzhi, Vice Chairman Zhao Yibo, Supervisory Chairman Yan Peng, Supervisor Xu Zhengmin and others, They all have the background of “Zhexi Department”.

In this open letter, Ying Ying said, “According to preliminary estimates, I own billions of family legal assets. If you give me cash, it is the best , But if the equity of Daheng Technology and Ningbo Zhongbai is assigned to me, I also have the confidence to maintain the stable development of listed companies and do a good job in equity incentives for the management.


4. It will spread to many “affiliated” listed companies

In addition to the two listed companies that actually hold Ningbo Zhongbai and Daheng Technology, Xu The Xiang family and its “vest” also involve a number of A-share listed companies.

According to e company does notAccording to complete statistics, the listed companies involved in the Xu Xiang family and its “vest” also include: Huali family, Kangqiang Electronics, Wenfeng shares, China Merchants Nanyou, Dongfang Jinyu, etc. Most of the above-mentioned companies also disclosed that Xu Xiang ’s related shares have been frozen. announcement.

At present, Shanghai Zexi Zengxu Investment Center (Limited Partnership) holds 90 million shares of the gorgeous family, accounting for 5.11% of the shares of listed companies, ranking second in the company Large shareholder; Zexi Phase 6 holds 18.7643 million shares of Kangqiang Electronics, accounting for 5% of the total share capital of listed companies, ranking third largest shareholder of the company; Zheng Suzhen (Xu Xiang ’s mother) holds 275 million shares of Wenfeng shares, accounting for listed companies The total share capital is 14.88%, ranking the second largest shareholder.



In addition to the above-mentioned shares that can be consulted in the shareholder list, the “invisible” shares that have been blocked and frozen involve China Merchants Nanyou and Dongfang Jinyu.

China Merchants Nanyou, formerly known as Changhang Oil Transportation, delisted in 2014 and resumed its listing in January 2019. Before the departure of Changhang Oil Transportation, Xu Xiang’s family had bought a lot. Among them, Xu Xiang, Ying Ying, Xu Xiang’s parents Xu Bailiang and Zheng Suzhen each held 5.5 million shares, totaling 22 million shares. However, due to the debt restructuring before China Merchants Nanyou resumed its listing, the top ten shareholders of the company are mostly banks and asset management companies.


Xu Xiang was arrested

When the listing was resumed in January 2019, news about Xu Xiang lying in prison to make money was published in the newspaper. At the time, Ying Ying said that the investment seemed very calm, currently holding 22 millionThe number of shares has not changed, and the cost was under 1 yuan. After all, for Xu Xiang’s family whose assets, including stocks including 22 million shares of the delisted oil, have been seized and frozen by the court, will this have substantive significance?

In addition, Ruili Jinze Investment Management Co., Ltd. holds 293 million shares of Dongfang Jinyu, accounting for 21.72% of the total share capital of listed companies, and ranks as the largest shareholder, but is not The actual controlling shareholder.

In 2017, the dust of the “Xu Xiang case” was settled, but one year later Dongfang Jinyu was still under the focus of supervision. Ding Zeng was denied due to the aftermath of the Xu Xiang case. The Development Examination Committee believes that the information disclosure of Dongfang Jinyu is incomplete: the company ’s original actual controller Zhao Xinglong and Xu Xiang (held by others) jointly established Ruili Jinze Investment Co., Ltd. to subscribe for the company ’s 2014 non-public offering of shares. The case was criminally sentenced, and all the shares held by Ruili Jinze Investment Co., Ltd. were judicially frozen. In the application documents, the company failed to fully explain and disclose the impact of the aforementioned matters.

(Originally titled “Heavy! Xu Xiang case is now making significant progress, 20 billion yuan asset screening is coming to an end, many companies will be involved in the asset division war!”)