march 16, Tahoe Group Co.Ltd(000732) ( Tahoe Group Co.Ltd(000732) ) announced that the board of directors recently learned that Huang Qisen, chairman and general manager of the company, was assisting relevant authorities in the investigation. The board of directors of the company has launched the emergency plan
Subsequently, Tahoe Group Co.Ltd(000732) issued an open letter through official wechat to express the company’s policies on various business activities. “The company also understands that the chairman can participate in the enterprise operation decision-making in an appropriate way in the near future.” The open letter pointed out.
company chairman Huang Qisen is assisting in the investigation
Tahoe Group Co.Ltd(000732) 3 on March 16, the company issued an announcement on major issues. Huang Qisen, chairman and general manager of the company, is assisting relevant authorities in investigation. According to Tahoe Group Co.Ltd(000732) disclosure, the board of directors of the company has launched an emergency plan. At present, Ge Yong, CO president of the company, and Wang Jinggang, CO president of the company, normally preside over the production and operation of the company.
“The above matters will not affect the normal operation of the company. The company has a perfect organizational structure and standardized governance system, and all business activities are normal.” Tahoe Group Co.Ltd(000732) said that the company would pay close attention to the progress of relevant matters and fulfill the corresponding information disclosure obligations in a timely manner as required.
E company reporter noted that the day before the announcement, in March 15th, Tahoe Group Co.Ltd(000732) also mentioned Huang Qisen in the official WeChat official account. “As for delivery and quality, since last year, chairman Huang Qisen has put forward directions and requirements on many occasions. Today, we have extracted four sentences to convey Taihe’s attitude to consumers and show Taihe’s determination.” Tweets mainly show Huang Qisen’s quotations, including “quality is the red line, safety is the bottom line”, “although delivery is late, quality will not be absent”, etc.
In March 2nd, the official WeChat official account of Tahoe Group Co.Ltd(000732) also issued a signature article by Huang Qi. “In 2021, Taihe has gone through a very difficult year.” The article points out: at present, we should be soberly aware that the golden age of real estate is over, and “living” is the top priority. In the next long period of time, we should be prepared to live a hard life. In the process of self rescue, we should focus on the key points according to our own situation and avoid “sprinkling pepper”. It seems that we have taken care of them, but in fact, the problems have not been completely solved. The problems faced by different regions, projects and stages are different. They should be solved in a rhythmic and methodical manner.
“in the future, Taihe’s products will focus on the north, Shanghai, Guangzhou, Shenzhen, Nanjing, Suzhou, Hangzhou, and my hometown Fuzhou and Xiamen.” Huang Qisen’s signed article mentioned that in terms of product positioning, Taihe will mainly do “high-end products” in the future; 30 billion is enough
Huang Qisen’s last public appearance was on February 8 this year. He paid new year’s greetings to employees in Taihe Fuzhou area. According to public information, Huang Qisen was born in 1965 and founded Tahoe Group Co.Ltd(000732) in Fuzhou in 1996. In September 2010, Tahoe Group Co.Ltd(000732) was listed. In 2020, the Huang Qisen family ranked 1001 in the 2020 Hurun global rich list and 99th in the 2020 Hurun global real estate rich list with a wealth of 20 billion yuan. With Tahoe Group Co.Ltd(000732) falling into liquidity crisis, the wealth of Huang Qisen family has also shrunk significantly.
company says it can continue to participate in decision-making
On March 16, Tahoe Group Co.Ltd(000732) officials issued an open letter saying that Huang Qisen, chairman and general manager of the company, was assisting relevant authorities in the investigation. At present, the company’s business activities are normal, and the company also understands that the chairman can participate in the enterprise’s operation decision-making in an appropriate way in the near future.
Tahoe Group Co.Ltd(000732) said that at present, the company has launched an emergency plan, and Ge Yong and Wang Jinggang, CO presidents of the company, normally preside over the production and operation of the company. Ge Yong and Wang Jinggang were promoted to co presidents in December 2019. They are Tahoe Group Co.Ltd(000732) endogenous senior managers
“As we all know, in the first half of 2020, Tahoe Group Co.Ltd(000732) encountered difficulties due to liquidity problems due to superimposed factors such as the epidemic situation.” The open letter pointed out that for more than a year, Tahoe Group Co.Ltd(000732) has always earnestly implemented the work deployment of the central government and Fujian Province on “six stabilities” and “six guarantees”. Under the leadership of chairman Huang Qisen, under the ideological guidance of “never lying flat, having the courage to take responsibility and making every effort to break the situation”, Tahoe Group Co.Ltd(000732) has actively revitalized assets, reduced liabilities and adjusted the structure.
The words “don’t fall down” and “never lie flat” appeared many times in the open letter. According to the open letter, over the past year, the company has reached a settlement with most financial institutions, and most projects in the country have resumed work and production. Since 2021, more than 20 projects (batches) have been delivered in China.
In March this year, Tahoe Group Co.Ltd(000732) also refuted some Internet rumors Tahoe Group Co.Ltd(000732) said that in the relevant text and video communication contents, the so-called ” Tahoe Group Co.Ltd(000732) declared bankruptcy, leaving some ‘uncompleted residential buildings’ to be taken over by Vanke”, “more than 50 real estate projects under the name of Tahoe Group Co.Ltd(000732) are in suspension”, “Taihe may finance this year’s social e-commerce explosion’ chaoduo ‘app” and other views and contents are pure rumors, which are seriously inconsistent with the facts, Strongly condemns this. “What our company encounters is only liquidity, not insolvency. At the same time, our company does not have high-risk problems such as off balance sheet liabilities and employee follow-up investment. We believe that the company will be able to get through the temporary difficult stage.” Tahoe Group Co.Ltd(000732) declaration display.
According to the performance forecast of Tahoe Group Co.Ltd(000732) 2021, the company expects to turn losses into profits in 2021, and the net profit attributable to shareholders of listed companies is expected to be 101132 million yuan, with a loss of 4.999 billion yuan in 2020. As for the reasons for the performance changes, Tahoe Group Co.Ltd(000732) said that during the reporting period, the recognized sales revenue of the company’s real estate projects increased significantly compared with the same period of the previous year; The company strictly controlled all kinds of expenses and fixed costs, achieved some results in saving expenses, and the expenses decreased significantly during the period.
It is worth mentioning that on the day of the announcement of “Chairman’s assistance in investigation”, real estate stocks rebounded strongly and Tahoe Group Co.Ltd(000732) rose by the limit on March 16. As of the closing on March 16, Tahoe Group Co.Ltd(000732) reported 2.76 yuan / share, with the latest market value of 6.869 billion yuan.
