Sunshine City, which has been delisted, was pulled back to the spotlight again.On October 10, a decision -making decision (hereinafter referred to as the "Decision") in the Yuhang District People's Court of Hangzhou City, Zhejiang Province) was circulated in the industry.Lin Tengzheng, legal representative of Cheng Group Co., Ltd..The decision -making time is September 7, 2023.
First Financial learned from the sunshine city that the court has not adopted judicial detention measures on the legal representatives of relevant five companies.This situation is because the relevant information has not been delivered in time. At present, Xi'an Diya Real Estate, one of the companies involved, has negotiated and resolved, and the court has revoked the relevant decision.
The cause of the incident is the dispute between the right to pursue the right to the bill.According to the company's inspection information, in 2022, Gaoan Tongrui Automobile Trading Co., Ltd. will sue a number of companies including Sunshine City to the court with the case number (2022) Zhejiang 0110 Minchu 6267.Based on this, in April 2023, companies such as Sunshine City became the executed person and the implementation target was about 511,800 yuan.As of September this year, the performance of many executors was "unpleasant", and Sunshine City and Lin Tengyu were also limited to high consumption.
The above decision is also published in September.Hangzhou Yuhang District People's Court is implementing (2023) Zhejiang 0110 Gao'an Tongrui Automobile Trading Co., Ltd. and Xi'an Diya Real Estate Co., Ltd., Sunshine City Group Co., Ltd. Zhejiang Urban Construction Group Co., Ltd.In the case of the company, Shaanxi Kaiming Industrial Co., Ltd., and Xi'an Dongneng Trading Co., Ltd.'s bill of recovery rights, it was found that the executed person refused to apply for property.
According to Article 248 of the Civil Procedure Law of the People's Republic of China, the Supreme People's Court on the application of Article 185 of the Supreme People's Court on the application of the "Civil Procedure Law of the People's Republic of China", the court decided to deal with the legal of the above five companies.Representatives were detained for fifteen days.If you are not convinced, you can apply for reconsideration to the Hangzhou Intermediate People's Court within three days from the date of receiving the decision.During the reconsideration, the execution of the decision is not stopped.
It is worth mentioning that because the Sunshine City has delisted from the Shenzhen Stock Exchange, the incident was not officially disclosed.
Public information shows that Lin Tengyu, born in 1968, is 55 years old.He founded the Small Housing Enterprise Sunshine City in one hand and landed on the capital market in 2002.
Since 2010, Sunshine City has opened the pace of expansion in a high turnover model; in 2012, the headquarters was relocated to Shanghai. In 2018, it has entered the "100 billion Club" with a sales scale of 162.8 billion yuan.Position; In 2019, the sales of Sunshine City exceeded the 200 billion threshold; in 2020, its annual revenue also exceeded the 200 billion yuan mark.
It is also at this stage that Lin Tengyu ranked 119th in the 2020 Hurun Global Real Estate Rich List with a net worth of 17 billion yuan.
After the peak, the trend turned sharply.With the changes in the development of the industry, many developers have successively experienced problems such as decline in sales and frozen financing.During the period, although Lin Tengyu carried out a series of self -rescue measures, Sunshine City finally failed to escape the fate of breach of contract and officially broke the contract in February 2022.
The operating performance of Sunshine City was also large in 2021, and the net profit attributable to the mother during the year was about -7.493 billion yuan; in 2022, the loss increased significantly to 12.553 billion yuan, and the operation continued to deteriorate.During the same period, due to the internal control audit report of negative opinions issued by the accounting firm in 2022, Sunshine City touched the situation of "other risk alerts", and the company's shares were referred to as "ST Sunshine City".
Since then, the stock price of ST Sunshine City has entered a state of endless state, and from May 15, 2023 to June 9, 2023, the daily closing price of 20 consecutive trading days was lower than 1Yuan, touched the trading coercive delisting situation.On August 16th, ST Sunshine City was delisted by the Shenzhen Stock Exchange.
