Wang Jianming, the king of China's power, was deeply moved by the quagmire of shares.

The former chairman of Yuchai Machinery, who is currently starting his second venture in Taizhou, Wang Jianming, the current chairman of Jiangsu Yangdong, has been controlled by the Jiangyan City Commission for Discipline Inspection on the morning of November 10, limiting his contact with the outside world and is currently undergoing investigations.

Wang Jianming, once known as the "King of China's Power," during his tenure as the head of Yuchai, Wang Jianming established a system of economic responsibility centered on quality, Taiwan, and responsibility, and fully mobilized the enthusiasm of Yuchai employees. It has become a sweet fruit: from 1985 to 1995, Wang Jianming set a miracle of a 100-fold increase in major economic indicators from the period of 1985 to 1995, and was listed by the National Bureau of Statistics as one of the top 100 companies in the Chinese general machinery manufacturing industry. One, named "China's largest internal combustion engine production base" at the 50th International Statistics Conference, has become a veritable China "ace power."

In 2005, due to disagreement with the local government in the development of Yuchai, Wang Jianming left Yuchai. In 2006, Wang Jianming moved into the company to raise shares, and made a strong statement that it would be necessary to create another Yuchai by 2011. However, two years later, Yang's shares were insolvent, and the bank owed more than 300 million yuan, with a total foreign debt of more than 600 million yuan. Wang Jianming first reported the disappearance on November 5, and on November 15th, it was reported that it had been "double regulations."

Wang Jianming, a well-known entrepreneur who was frequently mentioned on different occasions, what happened in the days when he left Yuchai Group?

Wang Jianming was raised to "community ban" by workers

According to insiders, on the evening of November 4th, Wang Jianming, who was on a business trip overseas, received a telephone call from Hu Yuhong, general manager of Yangdong Co., Ltd. On the phone, Wang Jianming was informed that the director of a certain bureau in Jiangyan City would hold a meeting at the company the next morning and requested him to arrive at the company at 8:30 am on November 5 to hold a meeting. Therefore Wang Jianming rushed back to the company to attend the meeting overnight. At this meeting, Wang Jianming was asked to sign an agreement. Later, Wang Jianming did not sign the agreement. The scene that followed may be that Wang Jianming did not anticipate in advance. Nearly a thousand employees and the nearby villagers in the vicinity continued to organize demonstrations to protest the company’s long-term deductions and defaults on “five risks and one gold”, seniority compensation, and land compensation for demolition. Wang Jianming and his second son, Wang Zheying, were confined and left the two people in the dormitory of the Yangjin Company.

A number of employees who participated in the “house arrest” Wang Jianming’s father and son told reporters that the workers’ strike and restrictions on Wang Jianming’s father and son’s freedom were not directed at them personally, but because workers’ interests were infringed and were not resolved for a long time. Wang Jianming is the current director of the factory. Long, it also needs to take some responsibility. During this time, Wang Jianming's father and son have been able to communicate with the outside world through mobile phones.

According to Wang Jianming’s uncle, when he learned that Wang Jianming was transferred to Runjiang Hotel, he immediately called the 110 police. After the police car arrived, a person who claimed to be a staff member of the Commission for Discipline Inspection showed the work permit to the police and told Wang’s family and lawyers. Wang Jianming volunteered to cooperate with the organization's investigation, so the Commission for Discipline Inspection investigated the hotel.

Five days after being "house arrested", Wang Jianming was taken away by Jiangyan City Commission for Discipline Inspection at 10.30 a.m. on November 10. Wang's lawyer and his family immediately lost contact with him. Since Wang Zheying has already joined American nationality, the US Consulate General in Shanghai has called the relevant authorities on the 12th to request an explanation.

Survey has made breakthrough progress

Yan Liming, director of the investigation team of the Jiangyan Municipal Government, told reporters that “because Wang Jianming was a party member and was a moving party secretary”, when there were some cadres and employees reporting that the king was suspected of economic problems, he had some initiative. In the case of wanting to explain to the government, the relevant department will take it away from the investigation.

At present, the relevant departments of Jiangyan City are conducting a comprehensive audit of the financial revenues and expenditures, equity transfer, and land assignments during and after the acceptance of Changgong's custody.

“I can responsibly say that the current investigation has made breakthrough progress.” Yan Liming said that at present, the investigation on Ge Lanqing has made great progress. However, the relevant departments did not control Ge, but Yan said that “Ge As long as we violate the law, we will take measures immediately."

To raise the mystery of restructuring

According to public information, Yangdong is a company that specializes in the research and development of diesel engine and auto parts production. The company's total assets are 686 million yuan and there are more than 2,400 employees. It has the ability to produce 300,000 multi-cylinder diesel engines annually. The most multi-cylinder Xiaochai manufacturing enterprise in China with the most varieties, the most complete specifications and the largest scale. “Because of the rapid development and poor management, Yangzhou Power Machinery Factory was in trouble in 2002 and immediately started the reform of the joint-stock system of state-owned enterprises.” A person familiar with the matter said that at the end of the year, the Jiangyan Municipal Government authorized the Wuxi Changgong Group to Zero asset hosting. Subsequently, the name of the company was changed to Yangdong.

Under the invitation of the Jiangyan Municipal Government for several times, Wang Jianming took a group of Yuchai’s department to work to start a second venture. Ge Lanqing, the then chairman of Yangzhou, transferred the equity to Wang Jianming twice. On the eve of the Spring Festival in 2006, Wang Jianming became the largest shareholder of the Yangdong Group, accounting for 59.95% of the shares. The Changgong Group withdrew from this move, and subsequently his son. Wang Zheying was elected as the new chairman.

However, although Wang Jianming took up the factory after a large-scale reforms, and smoothly achieved the upgrade of the product line from Euro II to Euro III, the loss situation of Yangjin shares did not improve, but the loss continued to increase. Li Chengshan (a pseudonym), who raised shares, revealed that Yangdong’s shares are losing tens of millions of yuan each year. Since the beginning of this year, the company has been in a semi-discontinued state, and many of the raw materials needed for production have no money to buy.

The reason why Mr Yang raised the funds was difficult, Wang Jianming’s assistant Mr. Lu believes that “the former chairman of the board of directors, Ge Lanqing, has already raised the short selling of the shares”. Assistant Lu said that at the time of the share reform, Ge Lanqing converted the old factory site to a commercial site and eventually transferred to Ge Yuqing and its Changgong Group, and the payment was also made to the bank loan in the name of Yangdong. After Wang Jianming came to the Lord, he demanded that Ge reimburse the money and pay the difference, but the total amount of 330 million in arrears has not been paid. Although Wang Jianming came up with his shares and raised the technical priority, high quality and price strategy will significantly increase the profit of the diesel engine that raises the share production price by 20%, but due to the high interest rate of more than 300 million yuan loan from the bank each year, Raise the loss of shares for consecutive years.

Afterwards, Yang Jin and Wang Jianming repeatedly asked Ge Lanqing to pay off the transfer of land and compensation for work-age payments to workers who were in arrears. After being rejected, he filed a lawsuit in the Higher People's Court of Jiangsu Province in May this year to ask Ge Lanqing to return the land and escape. Of the 60 million yuan of funds, a total of 3.33 billion yuan. However, the case has not yet been pronounced.

[next] Some employees receive wage arrears

It is understood that since the beginning of last year, the wages of front-line workers have also dropped to 600 yuan. After deducting the "five risks and one gold", the actual amount reached is only 410 yuan. The backlog of many factors led to the mobilization of employees and villagers in Xingfu Village to start troubles from November 6th and once blocked the expressway.

On the 17th, the reporter came to the company to see that the company’s labor union posted information on the payout for October. The wages due from the company in October were credited to employees on the 13th and the actual amount paid was 1,684,775.75 yuan. The reporter visited a number of workers and they said that the wages were actually delivered on time as scheduled. However, due to the company’s recent suspension of production, front-line workers in the workshop received only the corresponding guaranteed salary because they did not work. The workers said that they are still lucky. It is said that the middle and senior management personnel transferred from Yuchai did not receive any pay this time. This is what reason? According to Wang Jianming, a nephew of Wang Jianming, an employee of the technical center, the reason for the absence of wages is mainly due to the high wages of managers in this section. According to the current situation of the company, this part of the wages is difficult to send down. .

As the largest enterprise in Jiangyan City, the current plight of Yang Zheng has attracted the attention of the relevant government departments. In recent days, the government has helped coordinate the working capital of nearly RMB 300 million, but it still cannot make up for the losses incurred. The net debt is about 3 billion.

At present, the government has frozen the active accounts. Yan Liming, head of the Yangze Working Party of the Jiangyan Municipal Government, said that currently there are RMB 104 million in bank due debts, and that the suppliers are in arrears of nearly RMB 100 million.