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Hangzhou Bay Hotel is located in the famous Shan Zhi Scenic Area in Cixi City, Zhejiang Province. This hotel, built in the 1990s, is one of the few local five-star hotels. It is hard to imagine that an "Lao Lai" who has been listed by the court as an executor of dishonesty has openly lived in this hotel.

265438+20th Century Business Herald reporter 10 came to this hotel in late October, and a local creditor broke the news that there was evidence that the 55-year-old former chairman of China Kang Xin Group and chairman of Ningbo Kang Xin Chemical Fiber Co., Ltd. lived in a suite on the fourth floor of this hotel (the room was opened in someone else's name). Since Kangxin Chemical Fiber Crisis appeared, Shen's local property was disposed of, and his wife and children moved to Shanghai.

The reporter of 265438+20th Century Business Herald found that during the period from May 20 17 to August 3, 2020, Shen himself had 10 records of people who were executed for breaking promises, and the enforcement courts were Ningbo, Cixi and Changning District. The specific circumstances of the behavior of the person who has broken his promise are "having the ability to perform and refusing to perform the obligations specified in the effective legal documents" and "illegal property reporting system".

Several local financial institutions told reporters of 265438+20th Century Business Herald that from the exposure of Kangxin Chemical Fiber to September 20 16, * * * raised nearly 6543804 billion yuan in eight financial institutions. Except for a few mortgaged assets, banks have recovered some accounts, and loans exceeding 800 million yuan have become bad debts. According to Qixinbao's inquiry, since 20 15, Kang Xin Chemical Fiber has been involved in 33 financial loan disputes.

The reporter inquired about Qixinbao and learned that Kang Xin Chemical Fiber had 16 records of restricting high consumption, of which 12 was directed at Shen himself. Since 2065,438+06, the applicants include Cixi Branch of ICBC, Cixi Branch of Bank of Communications, Hangzhou New District Branch of Agricultural Bank, Cixi Branch of Shanghai Bank, Hangzhou New District Branch of ICBC, Ningbo Branch of Industrial Bank, Cixi Branch of Bank of Ningbo, Ningbo Branch of Hangzhou Bank and Everbright.

It is clearly mentioned in the Provisions of Cixi People's Court (20 19) No.0282 Hui 58 on Restricting the High Consumption and Related Consumption of the Executed Person. According to Articles 1 and 3 of the Provisions of the Supreme People's Court on Restricting the High Consumption and Related Consumption of the Executed Person, the legal representative, principal responsible person, person directly responsible for debt performance and actual controller of Kangxin Chemical Fiber and the company are prohibited from engaging in non-life.

Even in the face of the application of eight banks to limit high consumption, Shen, a faithless person, is still sitting in a luxury car and staying in a five-star hotel, which attracts people's attention. What makes local financial institutions even more chilling is that Kangxin Chemical Fiber's liabilities soared, but the actual controller was suspected of starting a new stove in another place, and it was suspected that others would buy back its assets at a low price to "fake bankruptcy and really extend its life".

"If you start a new stove after bankruptcy, this is entrepreneurship, but it is too much to evade debt so openly. If other companies follow suit, the trust relationship between banks and enterprises will be completely destroyed. " A local banker in Ningbo said.

From the founder of the leading chemical fiber enterprise to the debt of more than one billion, Shen's experience is embarrassing; However, the debt quagmire left by Kangxin Chemical Fiber and the suspicion of evading debts still hang over the heads of local financial institutions.

The story has to start from more than ten years ago.

As one of the county-level cities with the strongest economy in Zhejiang, Cixi is located on the coast of the East China Sea, in the center of Shanghai, Hangzhou and Ningbo, and has a geographical advantage that cannot be ignored. The pillars of local industrial structure include export-oriented small household appliances industry and mature textile industry chain. Before 20 15, Kangxin Chemical Fiber was a leading enterprise in the local chemical fiber industry in Cixi, and was once one of the top ten enterprises in Cixi, which made important contributions to the local economic development.

Kang Xin Group was established in 2003, and Ningbo Kang Xin Chemical Fiber Co., Ltd. was established in 2007, both founded by Shen. Shen is the legal representative and the largest shareholder of Kangxin Chemical Fiber, accounting for 59.7%, and his son is the second largest shareholder, accounting for 20.4%. Although Kangxin Group experienced a capital chain crisis due to some bank loans in 2007, after the situation of chemical fiber industry improved, Kangxin Chemical Fiber, as the main body of loans, became the darling of the local banking industry, and often obtained loans of more than 1 100 million yuan from various banks and a credit line of 500 million yuan from local branches of banks.

Shen himself is a star entrepreneur. According to public information, he used to be the executive president of Ningbo Youth Chamber of Commerce and the representative of Cixi Municipal People's Congress, and won many honors: "Municipal Entrepreneurial Expert", "May 4th Medal", "Young Entrepreneur", "Outstanding Entrepreneur", "Advanced Worker", "Outstanding Factory Director (Manager)", "Top Ten Filial Piety Stars" and "Charitable Person".

1982 After finishing high school, Shen was forced to work in Meishan Resin Factory, Beilun District, Ningbo, and started his business four years later. Like many business-minded Zhejiang businessmen, he dabbled in FRP, air conditioning equipment, bicycle parts and motorcycle parts, and finally chose chemical fiber as his main business. 680 mu of land was requisitioned in Cixi Hangzhou Bay New Area, and 700 million yuan was invested in the early stage to establish "Zhejiang Kang Xin Chemical Fiber Co., Ltd.". In 2008, the annual output value of Kangxin Group Company exceeded 2 billion yuan, making it a "big taxpayer", "Top Ten Enterprises in Cixi City" and "Top 20 Enterprises in Ningbo City" in Cixi City and Hangzhou Bay New District.

Since 2005, Shen has been involved in real estate, and has successively established Cixi Jinqiao Real Estate Co., Ltd. and Wanshi Real Estate Development Co., Ltd., with annual sales exceeding 654.38+0 billion yuan.

Success is real estate, so is failure.

"In my impression, there was a problem during the economic crisis in 2008. I am supervised by several banks. Later, the form of real estate improved. The first batch is the government land transfer, and the Kangxin Fan Shi project is developed to make money. Later, chemical fiber recovered and got out of the predicament. Later, real estate development, chemical fiber situation deteriorated, business operations deteriorated, and almost went bankrupt. " A person familiar with the company in a city commercial bank in Zhejiang told reporters.

It never rains but it pours. 2065438+September 2005, the court verdict of Zhang, the former deputy mayor of Cixi City, was exposed. The verdict shows that during Zhang's tenure as the president of the local agricultural bank, many business owners, including Kang Xin and other large local enterprises, paid bribes to Zhang to obtain loan credit.

The judgment shows that from 2006 to 2007, Zhang was entrusted by Shen Moujia, the head of Cixi Kangxin Motorcycle Co., Ltd. (formerly Cixi Zongshen Motorcycle Co., Ltd.), Kangxin Group Co., Ltd. (formerly Zhejiang Kangxin Chemical Fiber Co., Ltd.) and Ningbo Kangxin Chemical Fiber Co., Ltd., and took advantage of his position to seek benefits for the above enterprises in terms of bank loan approval. Before the Spring Festival in 2006 and in the first half of 2007, he received a piece of Hetian jade jewelry 1 from Shen Moujia at his home at No.51Cixi Mountain Villa (hereinafter referred to as Cixi Mountain Villa) and 200,000 yuan in cash.

Although the verdict did not disclose Shen Moujia's full name, creditors and local people told reporters that Shen Moujia himself was more likely.

"As an old entrepreneur in Cixi, Shen has rich social resources, and he is closely related to successive government officials in his early years." A local bank executive said.

Due to Kang Xin's over-expansion and expansion, its bank loans are also on the rise. From 2007 to 20 17, the total loan of kangxin reached1500 million from less than 700 million.

The credit report of Kangxin Chemical Fiber in September, 2065438+2006, which was obtained from the 265438+20th Century Business Herald, showed that the company's financing balance in 1 1 bank totaled150,000 yuan, the bad and default of financial institutions was 9150,000 yuan, and interest loans were 407 million yuan. The largest credit balance of corporate loans in various banks is CCB, with 536.5438 billion yuan, which is included in non-performing loans; Agricultural Bank of China 243 million yuan, included in bad debts; Industrial Bank 1 100 million yuan, included in the bad; ICBC's 93.09 million yuan was included in non-performing loans. In addition, Shanghai Bank, Shang Lin Bank, Hangzhou Bank, bank of dalian Bank, Ping An Bank and many other banks are involved in non-performing loans; Bank of Communications loaned 397 million yuan.

"CCB and Bank of Communications should be the most seriously damaged," an official of a local asset management company (AMC) told reporters. At that time, the loans of some big banks were mortgaged, but CCB and Bank of Communications were mostly secured loans, so they were hit hardest by Kangxin Chemical Fiber Case.

However, these two sets of statements show that the company's finances are tricky.

The corporate tax report of Kangxin Chemical Fiber in 20 10 -20 14 obtained from 2 1 Century Business Herald differs from the financial statements provided to banks in terms of profit and asset-liability ratio. Among them, in the tax report of 2065.438+00, Kangxin Chemical Fiber had a net profit of 64.84 million yuan and an asset-liability ratio of 846.5438+0%, but the report provided to the bank showed a net profit of 83.49 million yuan, with a difference of18.65 million yuan and an asset-liability ratio of only 64.8%. In the tax report of 20 1 1, the net profit was 59.64 million yuan and the asset-liability ratio was 87.4%, while the statements provided to banks showed that the net profit was1.1.800 million yuan, with a difference of 58.73 million yuan and the asset-liability ratio was only 69.0%. In the tax report of 20 12, the net profit was 81750,000 yuan, and the asset-liability ratio reached 92.7%, while the statements provided to banks showed that the net profit was 53.4 million yuan, and the asset-liability ratio was only 68.5%. In 20 13, the corporate tax reported a loss of 1.2 1 100 million yuan, and the asset-liability ratio reached 98.3%, while the statements provided to banks showed a net profit of1.90 million yuan and an asset-liability ratio of 66.4%. In 20 14, the corporate tax reported a loss of 75.63 million yuan, and the asset-liability ratio was as high as 10 1.65%, exceeding 100%. However, the annual report provided to the bank is a loss of10.39 billion yuan, and the asset-liability ratio is only 85.5%, although it is higher than in previous years.

In addition, just before the crisis, in the two years of 20 13 and 20 14, Kangxin Chemical Fiber increased its bank loan by 4170,000 yuan.

The above-mentioned AMC people pointed out that the net profit and asset-liability ratio data between the company's tax report and the statements provided to banks are completely inconsistent. There may be two reasons: one is to defraud the bank's credit by forging statements; The second is to increase costs, reduce company profits and pay less income tax through fiction.

A banker involved told reporters that this has touched the scope of fraudulent loans by forging company statements.

Another local city commercial bank official said that ten years ago, it was very common that the real statements of Cixi enterprises did not match the statements provided to banks and tax authorities. Taking Kangxin Chemical Fiber case as an example, we can see that many state-owned banks are dragged down by this.

Just before Kangxin Chemical Fiber was exposed, a company named "Jiangsu Xinbo Polymer Materials Co., Ltd." was registered in Suqian City, Jiangsu Province on August 4, 2065438. The registered capital was originally 300 million yuan, but now it has been changed to 654.38+83 million yuan. At the beginning of the establishment of the enterprise, the legal representative, chairman and general manager named Shen Jingjing was Shen's daughter, aged 265,438+0. Shen himself is a director of this company (later retired), and his son is an employee director (later retired). However, according to the local people in Cixi, her daughter was studying abroad, and the actual manager was Shen himself.

The company's business scope includes research and development, production, purchase and sale of polyester and chemical fiber products, which is more consistent with Kangxin Chemical Fiber.

On April 20 17, the Economic Observer reported the loan default case of Kangxin Chemical Fiber. After the establishment of Xinbo Company, the company experienced many industrial and commercial changes. In the end, the largest shareholder was changed from Shen Jingjing holding 80% of the shares to Duichang Trade Partnership (general partnership) in Ningbo Meishan Bonded Port Area, with Shi as the legal representative and Shen Jingjing holding shares in the latter partnership 17.

Local creditors believe that this is the tip of the iceberg of Kangxin Chemical Fiber's suspected assets, and what is more suspenseful is the original Kangxin Chemical Fiber Company itself.

On June 20 17, the Intermediate People's Court of Ningbo City, Zhejiang Province held a public auction on the subject matter of "No.476 Binhai No.2 Road, south of Binhai No.3 Road and west of Xingci No.4 Road in Cixi City", which was Kangxin Chemical Fiber Factory.

A person familiar with the auction at that time said that in fact, many local enterprises were interested in this hundreds of acres of land located in Hangzhou Bay New District, but because the land and factory equipment were auctioned together, other interested companies also hesitated: "The purchase and depreciation of equipment are only known to the original owner, and many interested companies gave up because they were not sure."

In the end, a company named Ningbo Quandi International Trading Co., Ltd., which was registered in February 20 16 after the Kangxin chemical fiber crisis broke out, successfully took over the land and plant equipment of Kangxin chemical fiber at a price of 5160,000 yuan, and changed its name to Ningbo Quandi Chemical Fiber Co., Ltd. in June 20 18, and was transformed from a trading agent.

At present, the legal representative of the enterprise is Feng, who holds 40% of the shares and is the largest shareholder. Shanghai Shuanglu Shangling Enterprise Group Co., Ltd. holds 365,438+0%, making it the second largest shareholder. After the penetration of the company's equity, there are two natural persons, of which Cixi businessman Chen Quanmiao holds 60.6% of the shares as its actual controller; The third largest shareholder is Zhejiang Antai Holding Group Co., Ltd., holding 29% of the shares.

However, many creditors still believe that the actual manager of this company is Shen himself, and the person standing at the front desk is only the holder.

"Feng, 55, is a wage earner of Shen. No matter the car he usually drives to work or the house he lives in, it is very rare among Cixi businessmen and it is almost impossible to be the actual controller of the company. " A financial institution creditor of Kangxin Chemical Fiber told the reporter that according to his observation, Shen himself is still working in chemical fiber all over the place, and travels to and from chemical fiber all over the place and Hangzhou Bay Hotel all the year round. Creditors once went to Quandi Chemical Fiber to discuss the follow-up of Kangxin Chemical Fiber loan. At that time, Shen Zheng was sitting in the office of the chairman.

"Boss or boss, employees or those employees. Everything is the same as before. The only difference is that the chemical fiber in the whole land only offset the debt of Kangxin Chemical Fiber of more than one billion yuan. " The above creditors said.

However, Shen's reply to creditors every time is: At present, the chemical fiber in the whole place has no equity connection with him personally, and it is even more impossible to bear the debts left by Kangxin Chemical Fiber.

The above-mentioned state-owned bankers told reporters: "Even if they know that Boss Shen is in charge of chemical fiber in the whole place, financial institutions can't get the loan back. What's more, after four or five years, many banks have disposed of loans with collateral, and secured loans without collateral have also been written off. The local bank manager has rotated a batch, and this bad debt has been forgotten. "

In order to verify this statement, 165438+2 1 Century Business Herald reporter came to Quandi Chemical Fiber Factory, which is located in Binhai Second Road, Hangzhou Bay New Area. Quandi Chemical Fiber stands in the original position of Kangxin Group. The factory area is very large, equivalent to several football fields, and it is necessary to drive through several long factories between the front and rear doors. The door was crowded with cars. It was the afternoon of a working day. There were many chimneys in the factory, smoking thick smoke, and many workers shuttled in them.

(At the entrance of Quandi Chemical Fiber Factory, photographed by reporter Zhou Yanyan)

The reporter asked the doorman, "Is Boss Shen here today?"

The other party responded: "Today."

The reporter asked: "Does Boss Shen often come?"

The other party said, "Come once in a while."

The reporter asked: "Is Boss Shen your biggest boss?"

The other party said, "Yes."

After the other party was alert, he did not continue to answer the reporter's questions.

The reporter contacted Feng, the legal representative and the largest shareholder of Quandi Chemical Fiber. Feng heard the reporter ask whether the actual controller of Quandi Chemical Fiber hung up after Shen, and then the reporter dialed again. Feng was silent for a long time and said in fluent Mandarin: "Don't ask this, I have no obligation to tell you this. I have never answered such a consultation. "

The reporter immediately contacted Chen Quanmiao, the actual controller of Shanghai Shuanglu Shangling Enterprise Group Co., Ltd., the second largest shareholder of the company. Kerwin Chen, 5 1 year-old, born and raised in Cixi, once acquired the ownership of all four categories of products such as "Shuanglu" brand refrigerators, freezers, small household appliances and electric bicycles.

The reporter asked: "Are you or Shen the actual controller of the chemical fiber in the whole place?"

Chen Quanmiao: "It's me, not Shen."

The reporter asked: "But the biggest shareholder of this company is Feng, not you."

Chen Quanmiao: "Feng helped hold it."

The reporter asked: "Who will help? Help you hold it or help Shen hold it? "

Chen Quanmiao: "Hold it for me."

The reporter asked: "But the employees of this company all say that Shen is the big boss."

Chen Quanmiao: "It's not him, it's me. So, if you have something, you can come to me according to the process. "

Then Chen Quanmiao hung up the phone.

The reporter found through Qixinbao that Quandi Chemical Fiber and Kang Xin Chemical Fiber left the same landline phone number in the process of industrial and commercial registration.

"Whether it is through the way of being held by others, the regulatory authorities can know by looking at the remittance records of all parties." The above creditors said.

The reporter repeatedly called Shen's own mobile phone for verification, but the other party did not answer.

In the latest list of the top 100 counties in China in 2020, Cixi ranks sixth in the country and first in Zhejiang Province, surpassing the more famous Yiwu city. Under the current glamour, it is hard to imagine the unforgettable "pain" that the local banking industry just encountered three or four years ago.

According to the Economic Observer, in 20 16, the defective rate in Cixi was 6.08%, which was higher than 4.85% in 20 15.

Surprisingly, the hardest hit areas are not city commercial banks, but big banks. Among them, the NPL ratio of CCB reached 19.44%, BOC 12.07%, China Merchants Bank1.09%, ICBC 9.25%, Ping An Bank 10.83% and Industrial Bank/kloc.

Local bankers told 2 1 Century Business Herald that the most outrageous thing is that the actual NPL ratio of a big bank in Cixi is close to 40%.

"The main reason for a large number of non-performing loans in Cixi in the past few years was that a large number of banks put in huge mutual insurance loans in the early years, which triggered a debt crisis in the guarantee circle after the decline of traditional industries, and then a large number of malicious evasion of debts, coupled with low property prices, led to a large number of non-performing loans and losses in collection." A local city commercial bank official said.

Because the financial supply side is too surplus, funds flock to local private enterprises in Cixi, and banks have lowered their risk control standards in vicious competition. It is common for entrepreneurs to guarantee each other and withdraw funds from banks. Many enterprises like Kangxin Chemical Fiber began to diversify their exhibition industry and expand in disorder, especially entering the real estate industry, which led to the soaring leverage ratio. In the economic cycle of rising real estate prices, these private enterprises bear the brunt.

A Shanghai judge who has been engaged in the trial of financial cases for many years said that similar cases of Kangxin Chemical Fiber evading debts were common in previous years. Because the means are hidden, assets are transferred in advance, and even their land and machinery and equipment are re-acquired through public transactions such as auction, it is difficult for creditors to obtain strong evidence and they are at a disadvantage in the contest between the two sides. In this case, it is difficult for creditors to gain the upper hand in the litigation process, unless the relevant departments intervene and reveal the fact that the actual controller of Kangxin Chemical Fiber participated in the auction of his own factory through account investigation, and participating in the auction means that assets were hidden at that time and should be enforced.

Local bankers told reporters that with the gradual digestion of the banking industry, the recovery of financial ecology and the upward trend of real estate prices, the financial situation is stable. It is estimated that the overall NPL ratio of Cixi banking industry will fall below 1% this year.

People close to Quandi Chemical Fiber told reporters that Quandi Chemical Fiber production is on the right track this year, and it was a loss in previous years. In the year when the epidemic spread around the world, the situation improved slightly. "It turned out that due to the disappearance of the demographic dividend, many orders were lost overseas. However, during the epidemic, many overseas orders returned to Cixi this year, because other manufacturing powers such as India have stopped working. Small household appliances companies and chemical fiber clothing companies in Cixi are working overtime. The only pity is that the transportation capacity is insufficient, and the goods are hoarded in the port waiting to be sent to the world. "

2 1 Century Business Herald learned from a financial institution in Ningbo that a city commercial bank has lent 250 million yuan to chemical fiber all over the place, but this news has not been verified.

It is worth noting that on June 5438+065438+1October 2 1, Member the Political Bureau of the Communist Party of China (CPC) Central Committee, Vice Premier the State Council of China and the State Council Financial Stability and Development Committee (hereinafter referred to as the Financial Committee) held the 43rd meeting of the Financial Committee, demanding that financial supervision departments and local governments resolutely safeguard the authority of the legal system, implement regulatory responsibilities and territorial responsibilities, and urge various market entities to strictly perform their main responsibilities. Adhere to the "zero tolerance" attitude and maintain market fairness and order. Severely punish all kinds of "debt evasion" and protect the legitimate rights and interests of investors.

Although the above-mentioned meeting is aimed at the bond market, it also has a deterrent effect on bank-enterprise loans.

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