"Chairman Xu, happy cooperation!"
"Mr. Sun, happy cooperation!"
On June 14, after many negotiations, Pengcheng Securities Company acquired four securities business departments affiliated to Pengcheng Development Bank for 45 million yuan, including taking over the original management and ordinary employees. Liao Jingwen and the president of Pengcheng Development Bank Congratulations on reaching a provisional acquisition agreement.
On June 15, Sun Jian, on behalf of Pengcheng Securities Company, signed a formal contract for the acquisition of four securities business departments with Xu Jicai, legal person and chairman of Pengcheng Development Bank, in the conference room of Pengcheng Development Bank Building.
Pengcheng Development Bank Building is located on Pengnan East Road and Pengcheng Financial Center District. It is surrounded by important financial institutions such as the Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, China Merchants Bank, and Pengcheng Stock Exchange, as well as Diwang Building and Jingdu Hotel. , Lychee Park, etc., with convenient transportation.
Pengcheng Development Bank Building was designed by a famous Australian designer. It is 183.8 meters high, with 34 floors above ground and 3 underground floors. The floor height is 4 meters. The total construction area is 76,668 square meters. The usable area rate is about 68%. It is developed by Pengcheng The bank spent 800 million yuan to fully build it, which took 4 years to build. It has a sail-shaped appearance and has the potential to ride the wind and waves. The champagne red glass curtain wall makes it even more elegant and warm.
The Pengcheng Development Bank Building was completed and accepted at the end of 1996 and put into use on January 18, 1997.
In accordance with the "Commercial Bank Law" and the central bank's requirements for separate operations and separate management, Pengcheng Development Bank had restructured its former trust department into Futian Branch in 1996. Because of the booming Penghu stock market, Pengcheng Development Bank was temporarily reluctant to restructure its affiliated bank. The four securities business departments were transferred to Pengcheng Securities Company, and the operations of the four securities business departments were illegal operations.
The Pengcheng Stock Exchange is now under the management of the Pengcheng Government, not the Securities Commission. The Shanghai Municipal Government and the Pengcheng Municipal Government closely link the performance of the Shanghai Peng Stock Index with the status of the financial center, as if whoever rises the most is the winner. Financial centers generally come up with ideas and find ways to promote the rise of the Shanghai Peng stock market.
The Pengcheng City government turned a blind eye to the illegal operations and manipulation of Pengcheng Development Bank’s stock price by the four securities branches of Pengcheng Development Bank!
On June 13, the central bank and the Securities and Exchange Commission decided to punish Pengcheng Development Bank’s securities business department for illegally speculating Penghu stocks, which accelerated the transfer of the management of Pengcheng Development Bank’s four business departments.
"Congratulations, President, happy cooperation!"
"Mr. Sun, happy cooperation!"
Sun Jian was familiar with the first chairman Liu Jiqiang and the president Wang Kang. Wang Kang was later transferred to the preparatory team of Pengcheng Stock Exchange as deputy general manager (there was no general manager position), and Yang Weidong took over as president.
In 1993, Liu Jiqiang and Yang Weidong were transferred, and Xu Jicai and He Yun were appointed to take over.
Although Taobao Holdings is the largest shareholder of Pengcheng Development Bank, it made a written commitment before taking shares. As a strategic investor, it will not serve as a director, not participate in the daily affairs of the bank, and not interfere in the company's business management activities.
Sun Jian only cares about the performance and stock price of Pengcheng Development Bank, and is not qualified to care about the appointment and dismissal of important personnel of Pengcheng Development Bank.
Since 1984, He Yun has successively served as director of the Economic Work Department of Hubei Province, general manager of the International Business Department of the Industrial and Commercial Bank of Hubei Province, director of the Financial Management Office and Human Resources Department of the Pengcheng Special Branch Branch of the Central Bank, and president and managing director of Pengcheng Development Bank. Under the leadership of Pengcheng Development Bank, the revenue and profits of Pengcheng Development Bank have increased significantly by more than 50% every year in the past four years, and a large proportion of dividends has been distributed.
By the end of December 1996, the deposit balance (including foreign currency) of Pengcheng Development Bank reached RMB 22.836 billion, an increase of 7.147 billion yuan or 45.57% over the end of the previous year. The balance of various loans (including foreign currency) at the end of the year reached RMB 15.067 billion. An increase of 3.368 billion yuan from the end of the previous year, an increase of 28.79%. The bank's capital adequacy ratio was 19.88%, an increase of 8.91 percentage points from the end of the previous year; the overdue loan rate was 7.32%, a decrease of 0.31 percentage points from the end of the previous year; all asset-liability ratio indicators were controlled within the limits set by the central bank, showing good development trend.
Pengcheng Development Bank has established direct agency relationships with 350 banks in 25 countries and regions around the world, and its overseas business has expanded to major currencies in the world; the bank has 91 foreign exchange business outlets, including Yangcheng Branch, Yecheng Branch and Zhucheng Branch.
The banks have officially obtained foreign exchange business licenses, and offshore business began on August 1, 1996.
The total number of business outlets reached 102, an increase of 13 compared with the previous year. On June 18, 1996, the Xiangjiang representative office of the Bank was officially established, and the Foshan branch was announced to open on December 28.
The ability of Peng Development and Chuan Changhong to become leading stocks on the Penghu stock market is inseparable from their good operating performance over the years.
Because He Yun was punished by the central bank and the Securities Commission for manipulating stocks, Pengcheng Development Bank was not only fined 5 million yuan, but nearly 100 million yuan in profits were also confiscated. Listed companies were also punished, and the plan to raise 3 billion yuan in allotment was certified. J will veto it.
Pengcheng Development Bank was hurt, and it encountered the Asian Financial Crisis and the Asian Financial Crisis. The local foreign trade companies in Pengcheng were deeply injured, and the loans they lent could not be recovered, and they have never recovered since then!
In the previous life, as the performance of two leading stocks, Peng Development and Chuan Changhong, plummeted, they were abandoned by institutions and investors.
Pengcheng Development Bank was first taken over by the American Newbridge Group, then became Ping An Bank, and was abandoned by the Pengcheng government.
On July 1, 1994, the "Company Law" came into effect, and the board of directors of Pengcheng Development Bank added Ye Mao (now Zhou Zhiping) as a director. Taobao Holdings had voting rights, and its shareholding ratio (26.21%) far exceeded that of Pengcheng Development. The bank's second largest shareholder, Pengcheng Investment Management Company (6.77%), plays an important role. Chairman Xu Jicai and President He Yun called in advance to communicate with Sun Jian before the board of directors voted on major resolutions of Pengcheng Development Bank.
The richest man in China who is low-key has a good personal relationship with Xu Jicai and He Yun. No matter how capable he is, he cannot influence He Yun's dismissal.
The Securities and Exchange Commission has three penalties for Pengcheng Development Bank. One of them is that He Yun, the president of Pengcheng Development Bank, is deemed to be a prohibited person from the securities market; he will not be allowed to hold any position in any listed company within 5 years from the date when the Securities and Exchange Commission announces its decision. Senior management positions in securities business institutions.
According to the penalty decision of the Securities and Exchange Commission, Pengcheng Development Bank will convene a board meeting. According to the legal agenda, the directors will vote to remove He Yun from the positions of managing director and president. Since the penalty decision was only announced on the 13th, the board meeting has not yet been held. , there is still a lot of aftermath work that needs to be handled by He Yun.
After He Yun was dismissed, he could not work in listed companies or securities institutions for five years. Now, stock manipulation has not been included in the criminal law and he will not be jailed. It is a job violation. He has not committed corruption or bribery personally. Sun Jian has no need to worry about the other party. After being removed from office by the city government, he will still serve as an official in the city government and his level will not drop.
Kan Zhidong of Shenyin Wanguo, Li Huizhen of Haitong Securities and Ma Qingquan of GF Securities, like He Yun, were also dismissed and recorded major demerits on the 13th for manipulating stocks.
