Wang Yonghong failed to stay overseas for a long time like Jia Yueting，He must withdraw 61 from the listed 188bet sports betting for private reasons.500 million yuan，And the entire "Zhonghong System" is responsible for nearly 70 billion yuan of debt。

Multiple independent sources told Jiemian News，47-year-old 188bet sports betting Shares (000979.SZ) The actual controller Wang Yonghong has been brought to justice recently，He previously stayed in Hong Kong and overseas areas for a long time。

From real estate tycoon to returning to China，The business empire built by Wang Yonghong quickly collapsed，188bet sports betting Shares, a major listing platform, even became the first A-share stock to be delisted with a stock price below 1 yuan，The tens of billions of wealth of 270,000 shareholders disappeared in an instant。

188bet sports betting gained wealth from real estate development，Lost and fallen in the crazy capital operation。1992，188bet sports betting, who comes from a civil servant family，Going to Beijing alone，Earn your first pot of gold in the car cleaning and gas station industry，The huge profits from the real estate industry subsequently pushed him onto the rich list。

By 2015，Wang Yonghong built a capital empire of “one A-share 188bet sports betting + three overseas listing platforms”，This is the "A+3" strategy he often talks about，Revolving around the capital operations of four listed companies，Wang Yonghong also reached the highlight moment of his life，The market value of Zhonghong Shares peaked at nearly 36 billion yuan。

“Buy, buy, buy” is the fastest way to support Wang Yonghong’s ambition，He even completed a merger and acquisition that the capital tycoon Fosun Guo Guangchang failed to achieve，With the highest leverage、The most complex financing method，Bought the benchmark project "Banshan Peninsula" in Sanya, Hainan，And tried to load into the listed 188bet sports betting Zhonghong Shares。

Banshan Peninsula is the most legendary tourist real estate project in Sanya, Hainan，The most dazzling world-class tourist vacation destination，Wang Yonghong spends countless energy and money，Take over the Mid-Levels Peninsula from the mysterious rich man Yan Qi，He hopes to rely on the scarcity value of this item，Let the stock price of Zhonghong Shares soar，Solve his financial problems with the listed 188bet sports betting。

This is a race against time，Wang Yonghong only thinks about becoming "a hundred lives in one life"，Perhaps I have never thought about it and dare not think about it，The price of failure。“Stepping on the red line” in the capital market，In addition, real estate has encountered changes in macroeconomic control policies，Wang Yonghong and 188bet sports betting Shares finally fell short。

Avoid Hong Kong and look for the "white knight"，This is Wang Yonghong’s last game。But the goddess of luck did not favor，188bet sports betting shares have been reduced to the point where no one has taken over，Wang Yonghong lives in poverty，Until brought to justice。

End 188bet sports betting road

"Banshan Peninsula" is located on Luhuitou Peninsula, Xiaodonghai, Sanya City，The project covers an area of ​​5,000 acres，Building area reaches millions of square meters，Once ranked first in the sales list in Sanya and even the entire Hainan Island for many years。This project was built by Yan Qi, a mysterious rich man from Shanxi，Sold to 188bet sports betting in the middle stage of development and construction，The latter hopes to rise rapidly with this project，I never wanted to be dragged into the abyss。

From business problems to suspicion of illegal crimes，Wang Yonghong is mainly involved in two things。First，Sanya’s “Mid-level Peninsula” houses for sale that were sealed by the court，Resulting in home buyers losing both their property and money；Second，Wang Yonghong is above listed companies，Not approved by the board of directors and shareholders’ meeting，Privately transfer 61 of listed companies.500 million yuan，Project 188bet sports betting used to acquire Mid-Levels Peninsula。

The funds were withdrawn from Zhonghong Shares on December 2017，But the acquisition target is Hainan Xinjia Tourism Development Co., Ltd. (hereinafter referred to as "Xinjia Tourism 188bet sports betting")、The equity transfer procedures of Sanya Luhuitou Tourist Area Tourism Development Co., Ltd. (hereinafter referred to as "Sanya Luhuitou 188bet sports betting") have not been carried out，This is equivalent to Wang Yonghong carrying out a naked "rob" of a listed 188bet sports betting。

The whereabouts of the funds remain a mystery，Xinjia Travel 188bet sports betting、The actual controller of Sanya Luhuitou 188bet sports betting remains a mystery，There used to be a mystery about Wang Yonghong’s whereabouts，Wang Yonghong is now on trial，Other mysteries are also being revealed。

The "Application for Merger and Reorganization of Twenty-three Affiliated Enterprises including Sanya Zhonghong Hongxi Real Estate Development Co., Ltd." (hereinafter referred to as the "Application for Reorganization") published by the National Enterprise Bankruptcy and Reorganization Case Information Network，Initially 12 companies entered the bankruptcy and reorganization sequence，Sanya Intermediate People’s Court designated Beijing Deheng Law Firm as the manager of the 12 companies on October 18, 2018，Xinjia Tourism 188bet sports betting and Sanya Luhuitou 188bet sports betting are among the first 12 companies。7 months later，The manager has applied for the merger and reorganization of 11 additional affiliated companies。

Reorganization application disclosed，As of May 20th，388 companies and natural persons have declared their claims to 12 companies including Xinjia Tourism 188bet sports betting and Sanya Luhuitou 188bet sports betting，The total amount of claims declared by a single 188bet sports betting under the separate reorganization mode is 2427.5.6 billion yuan，The total amount of claims declared under the merger and reorganization mode is 689.200 million yuan；Another 3,589 households have declared their rights to register，And about 1053 employees involved。

689.200 million yuan of debt，Including the accumulated overdue debt of 188bet sports betting Co., Ltd. and its subsidiaries 114.6.4 billion yuan，This is the first time the "mess" left by Wang Yonghong has been fully disclosed。

Bankruptcy and reorganization of 12 companies including Xinjia Tourism 188bet sports betting and Sanya Luhuitou，Meaning that the court and administrator have confirmed that these companies are actually controlled by Wang Yonghong，This also means that the transactions between Xinjia Tourism 188bet sports betting and Sanya Luhuitou 188bet sports betting and the listed companies are related transactions，Wang Yonghong from the listed 188bet sports betting he controls，Crossed 61 without approval.500 million yuan for companies outside the system that he controls，Becomes its biggest trouble now。

Also in July 2018，188bet sports betting Municipal Housing and Urban-Rural Development Bureau launches special rectification of the city’s real estate market，Announcement of sale of seized properties in Mid-Levels Peninsula Project，His behavior is suspected of being illegal。At that time，188bet sports betting Municipal Public Security Bureau has launched a criminal investigation into the sales behavior of the Banshan Peninsula project。

Debt

The "Zhonghong Group" 188bet sports betting controlled by Wang Yonghong was completely destroyed，Jiang 188bet sports betting、House Buyer、Shareholders、creditor、Many stakeholders such as partners have been dragged into the "quagmire"。

“188bet sports betting borrowed too much money to acquire this project。"A person who participated in the creditors meeting told Jiemian News，The first to fourth phases of Banshan Peninsula were constructed around 2006，At that time, the “boss” was still the mysterious rich man Yan Qi from Shanxi，The assets acquired by 188bet sports betting are the fifth to seventh phases and the remaining land assets，Some of the assets are projects under construction。

Disclosed by the above person，188bet sports betting is equivalent to borrowing money to buy assets，Once the listings in these properties are sold，Sales funds must be given priority to repay debts，So 188bet sports betting did not get cash flow from selling the house。When the debt has not been paid off，188bet sports betting used part of his assets as collateral for loans，This is equivalent to "one house, two mortgages"，The mortgaged house will even be sold later，Situations that lead to home buyers losing both their property and money。

Debt of nearly 70 billion 188bet sports betting，The majority of creditors are financial institutions，For example, Huarong、Xinda、Oriental Assets，And Ping An Bank、Shanghai Pudong Development Bank、China Merchants Bank、Minsheng Bank and other financial institutions。

"Creditors suffered heavy losses，You can’t even get the interest back。"A creditor who requested anonymity told Jiemian News，According to the current asset inventory，The creditor’s 188bet sports betting recovery rate is only about 2%。

Before this bankruptcy reorganization，Some creditors are also working hard to recover losses。June 4，Xiamen Trust will acquire five parcels of land from Jinan Hongye Real Estate Development Co., Ltd., a subsidiary of 188bet sports betting Co., Ltd.，Auction on Alibaba Judicial Auction Platform，The total assessed value of the plot is 12.3.9 billion yuan，The auction price is only 9.900 million yuan。

Earlier at the end of 2018，Xiamen Trust issued an order to Guoyuan Securities，Required to forcefully sell approximately 1 of the pledged shares of 188bet sports betting Zhuoye, the controlling shareholder of 188bet sports betting Co., Ltd..400 million shares。Unfortunately, 188bet sports betting Shares had become a "penny stock" at that time，The selling plan ultimately failed to materialize。

Judging from the property preservation handling of these creditors，The assets controlled by the "188bet sports betting Group" are not of high quality，Wang Yonghong’s asset sales to save himself，Most of the transactions were unsuccessful。August last year，Sunac、Kaisa and other real estate companies are negotiating to purchase the Haikou Ruyi Island project owned by 188bet sports betting Co., Ltd.，In the end, Kaisa signed a purchase agreement at a cost of 1.4 billion yuan，But the final performance condition was not fulfilled。

“Kaisa only paid a deposit of 10 million yuan。"A person familiar with the matter told Jiemian News，Ruyi Island project debt exceeds 7 billion yuan，18 of them to China Huarong.3.5 billion yuan loan，Pledge 100% equity of Ruyi Island Project 188bet sports betting；Bank of Beijing 5.6 billion yuan loan，Pledge 100% equity of nine subsidiaries of Ruyi Island，The relevant sea area use rights certificate is mortgaged。

188bet sports betting

“188bet sports betting Group” companies bear such huge debts，Must find as many high-quality assets as possible，Only before effective bankruptcy reorganization can be carried out，This is the purpose of the bankruptcy administrator’s addition of 11 related companies，But this situation occurs，It may also drag more interested parties into the bankruptcy "quagmire"。

August 2018，The State Administration of Taxation, Jiyang District Taxation Bureau, Sanya City, cannot pay the taxes owed，And has become seriously insolvent，However, the project 188bet sports betting Sanya Luhuitou 188bet sports betting and other 12 companies were proposed to the Sanya Intermediate People's Court for bankruptcy reorganization on the grounds that they have reorganization value and possibility。

7 months later，The bankruptcy administrator added 11 more companies to merge and undergo bankruptcy 188bet sports betting。China Trial Publicity Network Public Video Display，June 13，Sanya Intermediate People’s Court held a hearing and broadcast the entire process live。The trial judge revealed，More than 1,000 court hearing notices were issued to 12 related parties in the original bankruptcy case and 11 companies and related entities that were expected to merge and become bankrupt，In the end, 11 companies and their related parties totaled 37，All submitted written objections，Oppose to merger, bankruptcy and 188bet sports betting。

The hearing mainly focused on 23 companies and their affiliates，Whether to object to bankruptcy reorganization。The first 12 companies included in bankruptcy reorganization did not raise any objections，The objections mainly focused on 11 companies, including Sanya Zhonghong Hongxi Real Estate Development Co., Ltd. (hereinafter referred to as "Zhonghong Hongxi") and Sanya Xiaozhoudao Hotel Investment Management Co., Ltd., which were subsequently included in bankruptcy reorganization，Among them, "Sanya Xiaozhoudao Hotel Investment Management Co., Ltd." (hereinafter referred to as "Xiaozhoudao 188bet sports betting") with high-quality assets is the most typical。

11 new bankrupt and reorganization companies were added to the merger，The bankruptcy administrator put forward four facts and reasons: Zhonghong Hongxi and other 23 companies are controlled by Zhonghong Hongxi as the core 188bet sports betting，Affiliated enterprises actually controlled by Wang Yonghong；The legal personalities of the 23 companies are highly confused，Making it difficult to distinguish claims and debts，And the cost of distinguishing the property of each affiliated enterprise member is too high；11 companies that have not entered the reorganization process meet the reorganization conditions stipulated in Article 2 of the "Enterprise Bankruptcy Law"；23 affiliated companies will not be merged and reorganized，It will seriously infringe the creditor’s right to fair payment。

Industrial and commercial information display，Xiaozhoudao 188bet sports betting has three shareholders，Sanya Coastal Investment Co., Ltd. holds 41% of the shares，Anxin Trust Co., Ltd. holds 35% of the shares，Sanya Zhonghonghongxi Real Estate Development Co., Ltd. holds 24% of the shares，The shares held by the above shareholders have been pledged to Anxin Trust。

The deputy general manager of Xiaozhoudao 188bet sports betting spoke as a dissenter in the court hearing，He is appointed by Sanya Coastal Investment 188bet sports betting，The assets of Xiaozhou Island are independent from the Mid-Levels Peninsula Project，The assets of Xiaozhou Island existed before Zhonghong Hongxi entered，Seal of Qie Xiaozhoudao 188bet sports betting、The ownership certificates of land assets are kept by Anxin Trust，All decisions must go through the 188bet sports betting’s shareholders’ meeting，And the final consent of Anxin Trust。So no matter from the equity perspective，It’s still about 188bet sports betting management，Zhonghong Hongxi does not actually control the 188bet sports betting，Not to mention being actually controlled by Wang Yonghong。

Sanya Coastal Investment Agent, the major shareholder of Xiaozhoudao 188bet sports betting，Regardless of legal personality、Operation Management，It’s still capital and finance、Asset business、Manager，There is no confusion between Xiaozhoudao 188bet sports betting and Zhonghong Hongxi。"The most critical point，Xiaozhoudao 188bet sports betting is not insolvent。”

The agent of Anxin Trust emphasized in his speech，Not satisfied with being called the "nominal shareholder" of Xiaozhoudao 188bet sports betting by the bankruptcy administrator。From the perspective of industrial and commercial registration，The trustee of Anxin Trust holds 35% of the equity of Xiaozhoudao 188bet sports betting on behalf of the trust plan；Looking at the transaction structure，Anxin Trust also invests through equity and debt，Provide funds to Xiaozhoudao 188bet sports betting；From the trust side，The trust clearly distinguishes between priorities and subordinates，Priority is the debt part，The inferior grade is the part of the stock，This transaction structure is relatively conventional at present，The manager believes that Anxin Trust is the "nominal shareholder" of Xiaozhoudao，No legal basis。

Original shareholder of Xiaozhoudao 188bet sports betting、The agent of the current creditor Shanghai Guozhijie Investment Development Co., Ltd.，Including Xiaozhoudao in the bankruptcy and reorganization sequence will seriously harm the interests of other major shareholders，His 188bet sports betting is the largest creditor，Clearly aware of Xiaozhoudao 188bet sports betting’s claims and debts，“As a minority shareholder, Zhonghong also misappropriated part of Xiaozhoudao 188bet sports betting’s funds，We are all in further negotiations with Zhonghong。”

“Forcibly bring Xiaozhoudao 188bet sports betting into the merger and reorganization process，It will greatly damage the legitimate rights and interests of migrant workers。”Xiaozhoudao 188bet sports betting Creditors、The agent of Longyuan Construction Group Co., Ltd., the project construction party, emphasized，When participating in the construction of Xiaozhou Island project in 2010，Zhonghong Hongxi has not yet invested in Xiaozhoudao 188bet sports betting，The project had been basically completed when we became shareholders in 2016，“We as the builder，Representing migrant workers，A civil lawsuit has been filed with Sanya Intermediate Court，A large number of migrant workers have not been paid their wages。”

Sanya Zhonghong Hongxi will be the focus of 11 additional bankrupt and reorganization companies，His attorney also expressed strong opposition to merger bankruptcy，Considering that Sanya Zhonghong Hongxi is a consolidated 188bet sports betting of the listed 188bet sports betting Zhonghong Shares，If this time it is forcibly included in the merger and reorganization，will damage the interests of more than 200,000 small and medium-sized shareholders of listed companies，And the interests of many creditors。

Assets surrounding a project，The 188bet sports betting itself、Shareholders、creditor、The construction parties strongly objected to being included in bankruptcy reorganization，This is because the 188bet sports betting is at a moment of life and death。

A business and economics lawyer told Jiemian News，Once included in bankruptcy reorganization，The assets and liabilities of Xiaozhoudao 188bet sports betting will be included in the overall asset and liability packages of the 23 bankrupt companies，The creditors of Xiaozhoudao 188bet sports betting will be the same as the other creditors，Compensated in the same proportion；Due to the huge overall debt，The debt repayment rate is already very low，There will be no rights left to the 188bet sports betting’s shareholders，Wealth instantly returns to zero。

“The procedure should be fair。”The above-mentioned lawyer emphasized，If the administrator determines that 11 companies including Xiaozhoudao 188bet sports betting are under the actual control of Wang Yonghong，Thus merging bankruptcy and reorganization，Such a big thing，Sufficient evidence should be provided for each 188bet sports betting，Make the information fully symmetrical，And allow enough time for the opponent to submit rebuttal evidence。

Time is running out，188bet sports betting shares are about to be delisted，A resolution will also be made after the bankruptcy reorganization hearing，If creditors and interested parties have further objections，You can apply for reconsideration to the Hainan Provincial Higher People’s Court。

The legend of Mid-Levels Peninsula comes to an end，Winter is coming for everyone，Waiting for 188bet sports betting is the legal trial，Waiting for creditors and interested parties，It is a long and desperate bankruptcy reorganization。

*188bet sports betting articleSource: interface, author: Luo Qiang, originalTitle:《Wang Yonghong is brought to justice, 188bet sports betting’s bankruptcy and reorganization is involved in many disputes》.