According to news from the People’s Daily Overseas Edition’s WeChat official account Xiakedao on October 25, on October 24, Yili Group, the largest dairy company in China, used a special screen swiping method to seize the C position of major media.
Zheng Junhuai and Niu Gensheng, the founder of Mengniu who was a former Yili executive
Yili released a real-name report open letter through its official website, official WeChat, official Weibo, etc. — Yili suffered repeated damages all the year round and was forced to publish its real-name report letter. It implores a thorough investigation of Zheng Junhuai and his umbrella, and a real-name report on the former chairman Zheng Junhuai.
A few hours before the release of the open letter, Zou Guangxiang and Liu Chengkun in the Yili rumor case in March 2018 were charged with picking quarrels and provoking trouble by the People's Court of Huimin District, Hohhot City, Inner Mongolia Autonomous Region.
Zheng Junhuai, Pan Gang, self-media... The stories of Yi Lien's revenge that have been circulated in the Chinese dairy industry for many years are even more unexpected than the plots of serial dramas.
Source
If it were not for the real-name report, Zheng Junhuai would be fixed in the impression of many people as the representative of the previous generation of entrepreneurs.
In 1983, Zheng Junhuai served as the director of Hushi Huimin Dairy Food Factory, the predecessor of Yili Group; in 1993, Yili carried out shareholding reform and became the first A-share listed company in the national dairy industry three years later.Zheng Junhuai, then chairman, secretary of the party committee and CEO of Inner Mongolia Yili Industrial Group Co., Ltd., has since been called the godfather of the dairy industry in the industry.
In the 1990s, China's dairy industry began to flourish. It was a time when the state-owned enterprise equity restructuring was booming. Under the premise that it was impossible to directly seek clarity of property rights, many people adopted more radical methods, and Zheng Junhuai was one of them.
Like many people at that time, he chose the road of curve MBO, that is, he and more than 20 executives of Yili invested in the establishment of a Huashi trading company, which successively acquired the legal person shares of Yili held by some state-owned enterprises.Since Zheng Junhuai's team did not have much cash, some gray methods were adopted in the acquisition.
Another clue of the story starts from the year (1992) before Zheng Junhuai promoted Yili's shareholding system reform.At the age of 22, Pan Gang entered the Hushi Huimin Dairy Food Factory, starting from the front line as a quality inspector.Pan Gang, who was born in a major, is young and capable, and is highly regarded by Zheng Junhuai.
In 2002, 32-year-old Pan Gang became the president and director of Yili Group. He was the youngest president among the 520 key industrial enterprises in the country that year.Yili’s report letter also mentioned that President Pan Gang led such a team dedicated to Yili’s efforts and made great achievements, but inexplicably encountered suppression from Zheng Junhuai, then chairman of Yili.
In 1998, the conflict between Niu Gensheng, the founder of Mengniu, who was then a senior executive of Yili, and Zheng Junhuai intensified, and they left Yili and founded Mengniu, which set off the famous confrontation between the two heroes in the dairy industry.
Since then, the fates of Zheng, Niu and Pan have taken different directions.
In June 2004, Zheng Junhuai was reported to have embezzled state-owned assets. The practice of Curve MBO originally wandered in a gray area of the law. Zheng Junhuai said in court: Everything he did was to solve the problem of the source of the management’s shareholding, which he still does not understandMy actions have broken the law.
And Niu Gensheng became a lucky one. On June 10, 2004, in the same month when Zheng Junhuai was reported, Mengniu was listed on the Hong Kong Stock Exchange.China Rich List.
Pan Gang was ordered in a crisis, and 11 months after Zheng Junhuai was arrested, he staged an astonishing turnaround, leading Yili to rebound from the trough and become China's largest dairy industry leader with the most complete product line.
Grudges
This time, Yili's appeal in the real-name report open letter is very clear:
First of all, I implore the procuratorate to disclose these 78 case files to the public (that is, the 78 case files in which Zheng Junhuai embezzled 240 million public funds and many clues about major economic crimes that have been confirmed and confessed by the parties), and file legal complaints against Zheng Junhuai for the facts of crimes.public prosecution.
In addition, Yili also said that among Zheng Junhuai's many major economic crimes, one was suspected of embezzling 200 million state-owned assets in Heilongjiang. He has sent dozens of real-name reporting materials to the Heilongjiang Provincial Supervision Commission on this suspected illegal situation, and hopes that the Supervision Commission will make it public.The entire process and related documents of the acquisition of Sandao Ranch by a company controlled by Zheng Junhuai.
Yili stated that the situation it reflected was objective and true, and that it was willing to bear all legal responsibilities for it, and on October 23 it formally submitted relevant materials to the central inspection team that was in Inner Mongolia at the time.
An excerpt from Yili's open letter, why do Yili and Zheng Junhuai continue to meet each other?According to public information, due to his good performance during his sentence, Zheng Junhuai received two opportunities for commutation and was released in September 2008 after serving his sentence.However, the conflict between Zheng Junhuai and Yili intensified after the former was released from prison.
According to this open letter, after Zheng Junhuai was released from prison, he sued the Hohhot municipal government for illegal assets, but failed several times and turned to pressure Yili, demanding cooperation in putting the illegally transferred assets into their names; Yili firmly refused...so far, they began to retaliate wildly, spreading rumors, slandering, and persecuting Yili and its management for a long time.
For example, in February 2011, 73-year-old Zhang Sanlin, the assistant to the chairman of Zheng Junhuai’s tenure, published an article on the Internet called Li Xixiao, the former president of Inner Mongolia Business Daily, through Li Xixiao, the former president of Inner Mongolia Business Daily.A report letter with thousands of words.After the report letter was published, the stock price of Yili shares fell by the limit on the same day.
The letter stated:
Pan Gang’s personal fortune-making journey in Yili started as early as 2000.Pan Gang used his authority to embezzle and embezzle the company's property, and ordered his subordinates to use illegal means to balance and offset accounts; Pan Gang and his relatives illegally established Inner Mongolia Xinhe Advertising Co., Ltd.Trading Co., Ltd. accepted bribes in the form of kickbacks, and illegally traded in the name of the company, turning state property into its private property, suspected of embezzlement and embezzlement.
The first-instance judgment of the case found that four people including Li Xixiao intentionally fabricated false information, and their actions constituted the crime of fabricating and disseminating false information about securities transactions, and sentenced four people including Li Xixiao to fixed-term imprisonment ranging from 8 months to 1 year and 6 months.and impose a considerable fine.
Report
Regarding the relationship between Li Xixiao, Zhang Sanlin, and Zheng Junhuai, Yili mentioned in the open letter that,
From 2002 to 2010, Li Xixiao's unit received a total of 900,000 yuan in sponsorship fees illegally provided by Zheng Junhuai for a long time; Zhang Sanlin was bought by Zheng Junhuai with a lot of money;Zhang Sanlin bought a Ford Mondeo for 269,800 yuan.
After the Li Xixiao case, although there were more or less rumors about Yili in the market, they failed to have a major impact on Yili.
Until March 2018, Liu Chengkun, a self-media person, published a serial novel Out of Ulan on the public account Tianlu Finance and Economics.This article is full of insinuations, which are regarded by the outside world as an attempt to imply corruption in the leadership of the Yili Group.Subsequently, the news that Pan Gang, the chairman of Yili shares, was taken away to assist in the investigation spread on the Internet, causing the market value of Yili shares to evaporate by more than 6 billion yuan that day.
The incident ended with Guangxiang Finance author Zou Guangxiang and Tianlu Finance author Liu Chengkun being arrested by Hohhot city prosecutors on suspicion of defamation.
p> Yili's report letter this time publicly identified the key person behind the rumor incident as an old acquaintance——Zheng Junhuai, the former chairman of Yili.The report letter also disclosed some details,
During the five-day public trial of the case, the evidence presented by the prosecution showed that before Liu Chengkun’s confession was made, Zheng Junhuai took the initiative to ask him to meet at Jianwai SOHO in Beijing and provided him with relevant information in the rumor article;The evidence also shows that there are WeChat chat records between Liu Chengkun and Zheng Junhuai (WeChat name Caring). After the rumors exploded on the Internet, Liu Chengkun reported to Zheng Junhuai, saying lsquo;give me more information before I can continue writing rsquo;.Previously, Liu Chengkun's article advocating Zheng Junhuai also revealed that he had met Zheng Junhuai many times, accepted Zheng Junhuai's banquet, and called Zheng Junhuai lsquo;Old Man rsquo;...
Zheng Junhuai and others were in court before
Obviously, Yili's public counterattack this time is to obtain a result for years of involvement.But until now, Zheng Junhuai has not spoken out about this incident.
When it was not clear where the ups and downs of the matter would go, Yili shares plummeted after the market opened in the afternoon, plummeting by more than 7%, and the market value evaporated by more than 8 billion, but it became an unexpected development.
Yili announced in the evening that the company's current management team is stable and its production and operation are normal.
Things are still in progress.But at least one thing is certain, for Yili, this real-name report means desperate, and what is the future of the company?Yili undoubtedly wants to use this decisive gesture to put himself to death and survive.
Attached is Zheng Junhuai's resume:
Graduated from the Department of Chinese Language and Literature, Inner Mongolia Normal University in 1974
1974.01mdash;1975.11 worked in the political engineering department of Hohhot Agriculture and Forestry Bureau
1975.12mdash;1979.12 served as deputy secretary and director of Hohhot State-owned Livestock and Poultry Farm
1980.01mdash; 1982.12 worked in Hohhot Dairy Company Guest House
1983.01mdash; 1993.05 served as director of Hohhot Muslim Milk Food Factory
1993.05mdash;2004.12 Chairman, Secretary of the Party Committee and CEO of Inner Mongolia Yili Industrial Group Co., Ltd.
In December 2004, he was imprisoned on suspicion of misappropriation of public funds
On December 31, 2005, sentenced to 6 years in prison
In September 2008, he was released after serving his sentence (two commutations)
Text/Hou Jun (Reporter of China Economic Weekly)
