Gao Tianguo, the actual controller of Anxin trust, who is carrying out risk resolution under the guidance of relevant departments, died.
On April 5, Anxin Trust Co.Ltd(600816) ( Anxin Trust Co.Ltd(600816) , Anxin Trust Co.Ltd(600816) . SH) announced that the board of directors had recently received a letter from the controlling shareholder Shanghai guozhijie Investment Development Co., Ltd. informing that Gao Tianguo, the actual controller of the company, died of illness on April 4, 2022.
The announcement said that the above matters will lead to the change of the actual controller of Anxin trust. Anxin trust will pay attention to the follow-up arrangements and notices of the controlling shareholder Shanghai guozhijie Investment Development Co., Ltd. (hereinafter referred to as Shanghai guozhijie) and disclose the specific changes in time. The announcement also said that at present, the company is carrying out risk resolution under the guidance of relevant departments, and all work is progressing steadily as planned.
Gao Tianguo did not hold a position in Anxin trust. He is the chairman and legal representative of Shanghai guozhijie. Shanghai guozhijie is the controlling shareholder of Anxin trust, holding 52.44%.
According to public reports, Gao Tianguo was born in 1950 in Langzhong, Sichuan Province. On June 5, 2020, Anxin trust announced that Gao Tianguo, the actual controller, was criminally detained by Shanghai Public Security Bureau on suspicion of illegal loan issuance, and the relevant matters remain to be further investigated by the public security organ.
According to its previously released performance loss announcement, the company’s performance of Anxin trust is expected to lose 1.1 billion yuan in 2021. After deducting non recurring gains and losses, it is expected to lose 800 million yuan. By the end of 2021, the net assets attributable to shareholders of listed companies are expected to be 300 million yuan.
Last July, an important step was taken to resolve the risk of Anxin trust. The company announced that it plans to issue non-public shares to Shanghai Di’an Investment Management Co., Ltd. (hereinafter referred to as Shanghai Di’an), with an issue price of 2.06 yuan / share and a raised fund of no more than 9.013 billion yuan. After deducting relevant issuance expenses, all of them will be used to enrich the company’s capital.
Shanghai Di’an was jointly initiated and established by Shanghai Electric Group Company Limited(601727) (Group) Corporation, Shanghai Guosheng (Group) Co., Ltd., Shanghai International Group Co., Ltd. Shanghai International Airport Co.Ltd(600009) (Group) Co., Ltd. and China Trust Industry guarantee fund. After the completion of the non-public offering, Shanghai Di’an will become the controlling shareholder of Anxin trust. At the same time, Anxin trust also signed the debt settlement agreement with BOC Shanghai Branch, China Trust Industry guarantee fund and SINOSURE fund company, with a total debt settlement of nearly 9 billion yuan.
Up to now, the fixed increase plan has been announced for more than half a year, but it has not yet received regulatory approval. On March 9, Anxin trust issued an announcement on the progress of the implementation of major asset sales, and its settlement plan with Bank Of China Limited(601988) Shanghai Branch of up to 3.278 billion debt has not been completed.
The major shareholders of Shanghai guozhijie are Shanghai Guyuan Real Estate Development Co., Ltd., Shanghai Guozheng Investment Management Co., Ltd., Shanghai Yuansheng Investment Management Co., Ltd. and Shanghai xinkangrun Industrial Co., Ltd., with shareholding ratios of 75.66%, 22.48%, 1.47% and 0.39% respectively. The legal representative of Shanghai Guyuan Real Estate Development Co., Ltd., the largest shareholder of Shanghai guozhijie, is Gao Tianguo.
As of December 16 last year, Shanghai guozhijie had a total of 2.018 billion frozen shares, accounting for 70.36% of its shares in Anxin trust. At that time, the overdue amount of guozhijie’s direct liabilities totaled about 6.745 billion yuan, of which 298 million yuan had been settled; With the remaining 6.447 billion yuan, guozhijie is actively negotiating with relevant parties to resolve disputes. In addition to the overdue litigation of the above debts, the litigation amount of guozhijie’s external guarantee is about 10.279 billion yuan, of which 4.546 billion yuan provides guarantee for the related businesses of Anxin trust.
Anxin trust is the first batch of joint-stock non banking financial institutions in China. Its predecessor is Liaoning Anshan trust. It was established in 1987 and listed on the Shanghai Stock Exchange in 1994. It is also one of the only two listed trust companies in China. The third quarterly report of last year showed that Anxin trust had suffered losses for three consecutive years, and the company’s main business was still in a state of loss by the end of the third quarter of 2021; By the end of September 2021, the net assets of the company were still negative. There are major uncertainties that may cause major doubts about the sustainable operation ability of Anxin trust.
Anxin trust recently announced that on March 18, the Shanghai financial court publicly conducted the second judicial disposal of 1.455 billion shares of Anxin trust held by Shanghai guozhijie (accounting for 26.60% of the total share capital of Anxin trust) on the judicial assistance implementation platform of bulk stocks of Shanghai Stock Exchange. As of 15:30 on March 18, 2022, the disposal failed because there was no bidder to bid. The Shanghai financial court will initiate the third disposal as appropriate, and the disposal date will be notified separately. The failed disposal of 1.455 billion shares of Anxin trust was held by Shanghai guozhijie, accounting for 26.6% of the total share capital of Anxin trust.
Public information shows that Shao Mingan, chairman of Anxin trust, was born in 1960. He is a “veteran” of Anxin trust. He has been engaged in economic work for 26 years and financial industry for 15 years. Shao Mingan once served as deputy general manager, President and vice chairman of Anxin trust. He has served as a director of Anxin trust since December 2012. In October 2018, when Yang Xiaobo, the former president of Anxin trust, resigned, Shao Mingan took full charge of the company’s operation and management and signed relevant legal documents on behalf of the president.
