On the evening of January 28, Fortune Ng Fung Food (Hebei) Co.Ltd(600965) (600965) announced that Li Fucheng, one of the company’s actual accusers, was sentenced to three years’ imprisonment and five years’ probation for bribery and false invoice.
It is understood that Li Fucheng has the title of “the richest man in Yanjiao”. His family wealth has reached 5 billion yuan. He is frequently listed on the rich list and has the title of funeral king.
“the richest man in Yanjiao” was sentenced to three years’ imprisonment
According to Fortune Ng Fung Food (Hebei) Co.Ltd(600965) disclosure, recently, Li Fucheng, one of the actual controllers of the company, received the judgment: in the first instance, the people’s Court of Jizhou District, Hengshui City, Hebei Province ruled that Li Fucheng committed the crime of accepting bribes from non-state staff and was exempted from criminal punishment; for the crime of falsely developing tickets, he shall be sentenced to fixed-term imprisonment of two years and eleven months and fined 500000 yuan; Whoever commits the crime of offering bribes to a unit shall be sentenced to fixed-term imprisonment of one year and eight months and be punished for several crimes. It is decided to carry out fixed-term imprisonment of three years, suspended for five years and fined 500000 yuan (paid).
Fortune Ng Fung Food (Hebei) Co.Ltd(600965) said that Li Fucheng did not hold any position as a director of the company and did not participate in the daily operation and management of the company. The case does not involve listed companies. The listed companies operate normally. The board of directors and management of the company operate and manage around the established short-term and long-term objectives. The judgment does not involve the company, its holding subsidiaries or the business of the company, and has no impact on the operation, finance and operating performance of the company.
According to the third quarterly report disclosed by Fortune Ng Fung Food (Hebei) Co.Ltd(600965) , the company’s main revenue was 984 million yuan, a year-on-year increase of 28.66%; The net profit attributable to the parent company was 148 million yuan, a year-on-year increase of 69.69%; Deduct non net profit of 141 million yuan, an increase of 90.61% year-on-year.
Fortune Ng Fung Food (Hebei) Co.Ltd(600965) previously said that the factors of profit growth mainly came from catering and funeral sectors. With the stabilization of the epidemic, the catering and funeral sectors have almost returned to the performance level before the epidemic. The sales revenue has increased significantly compared with the same period last year, resulting in a significant increase in profits. At the same time, the operation of liangrun ecological agriculture has also brought certain profits to the company. In the first half of 2021, the company’s food processing revenue increased by 17.39%, catering revenue increased by 80.87%, and funeral revenue increased by 126.96%.
In terms of share price, in mid January this year, Fortune Ng Fung Food (Hebei) Co.Ltd(600965) achieved four consecutive trading limits, but then fell rapidly. The stock fell 33.74% in nine trading days. So far, the stock has reported 6.46 yuan, with a total market value of 5.289 billion yuan.
Li Fucheng’s family wealth is worth 5 billion yuan
Li Fucheng was once known as “Li Jiacheng in Yanjiao”. He was born in 1946 in a poor family in Hebei. He dropped out of school and went home to herd cattle after reading for three years. When he was a teenager, he began to ride a bicycle around the streets to sell sesame oil, and accumulated some capital and business experience in this process.
Li Fucheng, in his 30s, was determined to start a business. He took up the old oil production technology and sold small grinding sesame oil. Because of the good quality of his sesame oil at that time, his business was also very prosperous. He once monopolized the sesame oil business of the whole county and became the local king of sesame oil worthy of the name.
Later, Li Fucheng found that the residue left by pressing sesame oil could be used to raise cattle, so in 1983, Li Fucheng started to establish Xinglongzhuang cattle farm in Sanhe City. In April 1994, Li Fucheng was also awarded the title of “national champion of cattle raising” by the Ministry of agriculture. In 1999, Li Fucheng registered the trademark “Fucheng” in his own name. After continuous development, in July 2004, Fortune Ng Fung Food (Hebei) Co.Ltd(600965) was listed on the Shanghai Stock Exchange and became the “first share of cattle raising”.
Before Fortune Ng Fung Food (Hebei) Co.Ltd(600965) listing, Li Fucheng got involved in real estate development business and made a lot of money in real estate developers. It is understood that at that time, Yanjiao Town, Sanhe City was only more than 30 kilometers away from the center of Beijing, but the house price here was far lower than that in the center of Beijing, which was very attractive for the “North drift” who first arrived in Beijing.
in September 2002, Li Fucheng became the chairman of Sanhe Fucheng real estate development company, and the company also became the first of the four members of Yanjiao real estate. Li Fucheng once said: “as long as there is a North drift, I will always build a house!”
After the merger and reorganization in 2013, the main business increased catering services. Then in 2015, Fortune Ng Fung Food (Hebei) Co.Ltd(600965) purchased 100% equity of Sanhe Lingshan pagoda cemetery Co., Ltd. held by shareholders at a total price of 1.5 billion yuan, and the underlying assets were mainly engaged in funeral services such as the sale of tombs and ashes. in this regard, Fortune Ng Fung Food (Hebei) Co.Ltd(600965) officially entered the lucrative funeral industry and became the first A-share listed company in China’s funeral service industry, also known as “the first A-share funeral share”.
With the listing of the company and the expansion of various businesses, Li Fucheng has also transformed into a rich man. Hebei Hurun ranked 9th on the rich list in 2016, becoming the “richest man in Yanjiao”. On October 10, 2019, the Hurun rich list was released. The Li Fucheng family ranked 828th, with a wealth of 5 billion yuan.
According to the data, at present, Li Fu has many assets under his name, serving as a legal person in 20 enterprises, senior executives in 36 companies and senior executives in 43 enterprises.
was filed for investigation on suspicion of short-term trading
In September 2019, the tax related case of Fucheng group, with Li Fucheng as the chairman, was investigated by Hebei Provincial Commission for Discipline Inspection. Fucheng group was suspected of falsely issuing VAT invoices of about 200 million yuan.
In this regard, Fortune Ng Fung Food (Hebei) Co.Ltd(600965) has issued a clarification announcement that after verification with the actual controller of the company, the relevant related parties engaged in real estate development business are involved in tax and economic cases and are cooperating with the investigation. At present, there is no further conclusion on the case.
Mr. Li Fucheng, the legal representative of Fucheng group, Fucheng real estate and Lianfu real estate, currently performs relevant duties normally. Li Fu has become one of the actual controllers of the company. At present, he has not served as legal representative, director, supervisor, senior manager and other positions in the company.
In June 2021, Li Fuyuan was suspected of short-term trading and put on file for investigation. Fortune Ng Fung Food (Hebei) Co.Ltd(600965) said that the actual controller, Mr. Li Fucheng, was investigated for suspected short-term trading. The specific amount of suspected short-term trading shall be subject to the investigation results of China Securities Regulatory Commission.
In July 2021, Fortune Ng Fung Food (Hebei) Co.Ltd(600965) announced that the company had received the decision on administrative punishment from Hebei regulatory bureau of China Securities Regulatory Commission. It was found that Li Fucheng had the illegal facts of selling the shares within six months after he bought them and buying them again within six months after he sold them. China Securities Regulatory Commission Hebei regulatory bureau decided to give a warning to the actual controller Li Fucheng and impose a fine of 80000 yuan.
In October 2021, Fortune Ng Fung Food (Hebei) Co.Ltd(600965) holding subsidiary Hunan Shaoshan tiandefudi cemetery Co., Ltd. was filed for investigation on suspicion of illegally absorbing public deposits.
