According to media reports, Li Hua, chairman of the board of directors of Excellence Group, was taken away on January 19 to assist in the investigation, and was suspected of being involved in the alleged corruption case of Li Huanan, former deputy secretary of the Shenzhen Municipal Party Committee and former secretary of the Political and Legal Committee.
Li Huanan had been involved in Shenzhen's political and legal system for more than 20 years, and was sacked in October last year. Li Huanan's wife, Shi Wei, served as the chairman of Shenchiwan A (000022) (in August 2017, Shi Wei resigned).After Li Huanan was sacked, China News Weekly reported that Li Huanan's main problem was the land issue when he was in charge of Shenzhen's Guangming New District.According to public information, the Excellence Group headed by Li Hua is currently participating in the old renovation project in Shenzhen's Guangming New District.
The full name of Excellence Group is Excellence Real Estate Group Co., Ltd.The founder, Li Hua, worked in the Youth League Committee of Shenzhen in his early years. He founded Excellence in the 1990s. Excellence Group is mainly engaged in commercial and residential development, and also involves financial investment, asset management and other businesses.
Excellence Group is currently ranked in the middle of the real estate industry, with sales of just over 50 billion last year.At present, Excellence Group has not yet been listed.
Li Hua has kept a low profile for a long time.But its status in Shenzhen's business community is quite high.In addition to serving as a member of the Standing Committee of the Shenzhen Municipal Committee of the Chinese People's Political Consultative Conference, Li Hua is also the chairman of the Federation of Hong Kong and Shenzhen Associations and an important member of the Shenzhen Concentric Club.In the 2018 Forbes China Rich List, Li Hua ranked 67th with a wealth of 24.84 billion yuan.
Not long ago, Li Hua attracted attention because of Liu Qiangdong's incident.Liu Qiangdong and Li Hua participated in the Doctor of Business Administration program at the University of Minnesota and were classmates.According to Reuters reports, during the incident, an assistant of Liu Qiangdong contacted the woman and offered Li Hua to be the mediator, but the woman refused.
Guangming Old Reform Li Huanan's main work experience is in Shenzhen's political and legal system.In June 2015, Li Huanan served as deputy secretary of the Shenzhen Municipal Party Committee, secretary of the Political and Legal Committee, and director of the Social Work Committee.According to public information, from July 2016 to September 2017, Li Huanan concurrently served as Secretary of the Party Working Committee of Guangming New District.
Guangming New District was established in August 2007 and is the first functional new district in Shenzhen.In May 2018, Guangming District was listed, realizing the transformation from a functional area to an administrative area and becoming the latest administrative area in Shenzhen.
When Li Huanan was in charge of Guangming New District, he focused on urban quality improvement actions.
As a newly established district, Guangming New District has abundant undeveloped land reserves.During the 13th Five-Year Plan period, Guangming New District plans to promote a total of 54 urban renewal projects, including 44 demolition and reconstruction projects and 10 comprehensive improvement projects.The intensive old renovation projects have attracted the participation of many developers including Joyo Group.Among them, Excellence Group signed an urban renewal framework cooperation agreement with the Guangming New District Management Committee as early as November 2013, focusing on the renovation of 8 key areas including the Tianliao area, with a total renovation area of about 101 hectares.
Excellence Group started by renovating old things.According to public information, in 2013, Excellence Group made great efforts in old renovation projects, and signed old renovation projects with Guangming New District, Longhua New District and other places.Statistics show that by the end of 2013, Excellence Group had signed up to 30 old renovation projects, with a total construction area available for development of more than 8.4 million square meters.
According to a previous report by China News Weekly, it was rumored that when Li Huanan was in charge of the Guangming New District, a land project that had been explicitly stopped by the government had been restarted under its intervention.
According to media reports, before Li Hua was taken away to assist in the investigation, Zheng Kanghao, chairman of Huangting International (000056) (000056.SZ), another real estate developer in Shenzhen, was asked to assist in the investigation of the Li Huanan case. After more than a month, Zheng Kanghao returned to normalperform duties.
