The real controller of Anxin Trust gao Tianguo passed away due to illness!The risk disposal work is still progressing, and last year’s deficit is expected to be 1.1 billion yuan

2022-05-11 0 By

Essence Trust announced on the evening of April 5 that the board of directors recently received a letter from its controlling shareholder, Shanghai Guozhijie Investment and Development Co., LTD. (hereinafter referred to as “Guozhijie”), informing that gao Tianguo, the actual controller of the company, passed away on April 4 due to illness.The company mourns the death of Mr. Gao Tianguo and expresses deep sympathy to his family.The above events will result in the change of the actual controller of Essence Trust.In addition, according to the announcement, Gao Tianguo did not hold posts in the company, its death on the company’s operations and management activities do not constitute a major adverse impact.At present, the company is carrying out risk mitigation work under the guidance of relevant departments, and the work is progressing steadily according to plan.Essence Trust is one of the first joint-stock non-banking financial institutions in China. Its predecessor was Liaoning Anshan Trust, which was founded 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 number of shares of Guozhijie, the controlling shareholder of Essence Trust, is 2.868 billion shares, accounting for 52.24%. Gao Tianguo is the actual controller of Guozhijie.According to relevant reports, Gao Tianguo has always kept a low profile and disclosed little information.It is rumored that Gao Tianguo, a native of Langzhong city in Sichuan province, joined the army at the age of 18, transferred to the 7th Engineering Bureau in Henan Province, and became the deputy director.After entering the sea, he went deep into the real estate industry and then began to set foot in the trust industry.In 2017, Anxin Trust ranked second in the industry with a net profit of 3.668 billion yuan. After that, its risks were gradually exposed and its performance changed, and it fell into a crisis.In 2018, the deficit was 1.833 billion yuan, and further increased to 3.99 billion yuan and 6.738 billion yuan in 2019 and 2020.On the evening of June 5, 2020, Essence Trust disclosed that it had received a notice from Gao Tianguo’s family that Gao Tianguo was under criminal detention by Shanghai Public Security Bureau on suspicion of illegal loan issuance. Relevant matters are pending further investigation by the public security bureau.As of Dec. 16 last year, guozhijie had accumulated 2.018 billion shares frozen, accounting for 70.36% of its stake in Essence Trust.Up to that time, the total overdue amount of guozhijie’s direct debt is about 6.745 billion yuan, of which 298 million yuan has been settled;The remaining 6.447 billion Yuan guozhijie is actively negotiating with relevant parties to resolve disputes.In addition to the above overdue debt lawsuits, the amount of litigation guaranteed by Guozhijie is about 10.279 billion yuan, among which 4.546 billion yuan is guaranteed for anxin trust related businesses.In response to The death of Gao Tianguo, Anxin Trust announced that the above events will lead to the change of the actual controller of Anxin Trust.The company will pay attention to the follow-up arrangements and notices of the controlling shareholder Guozhijie and disclose the specific changes in a timely manner.The statement also said Gao tianguo did not hold a position in the company, and his death does not pose a major adverse impact on the company’s operations and management activities.At present, the company is carrying out risk mitigation work under the guidance of relevant departments, and the work is progressing steadily according to plan.In the past two years, Essence Trust has been busy with risk disposal.An Trust recently announced that the Shanghai Financial Court conducted the second judicial disposal of 1.455 billion shares (26.60% of the total share capital of an Trust) held by Shanghai Guozhijie Investment and Development Co., LTD on the Shanghai Stock Exchange’s judicial assistance execution platform for bulk stocks on The 18th.As of 15:30 on March 18, 2022, the disposal failed due to no bidder.Shanghai Financial Court will initiate the third disposal according to the situation, and the disposal date will be further informed.The 1.455 billion shares of essence Trust that failed to be disposed of are held by Guozhijie, accounting for 26.6% of the total share capital of Essence Trust.According to the quarterly report of Essence Trust in 2021, Guozhijie holds 2.868 billion shares of Essence Trust, accounting for 52.44%.In addition, essence Trust will raise 9 billion yuan in a private offering to Shanghai-based CHINATcrest Investment Management Co., which will be used to bolster the company’s capital, according to information previously disclosed by the trust.At the same time, Essence Trust also signed a debt settlement agreement with Bank of China Shanghai Branch, China Trust Industry Protection Fund and Credit Insurance Fund Corporation, with a total debt settlement of nearly 9 billion yuan.Up to now, the plan has been announced for more than half a year, but has not yet received regulatory approval.On the evening of March 9, ST Essence issued a major asset sale implementation progress announcement, its and Bank of China Shanghai branch up to 3.278 billion debt settlement plan has not been implemented.Essence Trust signed a settlement agreement with bank of China Shanghai branch on July 23, 2021, according to the announcement,The essence of the trust to the bank of China Shanghai branch letter of assignment of holding international more than 3.4% stake, the essence of the trust to hold the usufruct of the trust plan as well as the essence of the trust held by hunan daewoo new energy technology co., LTD. The principal right of the pledge loan of 40 million yuan and 800 million yuan to pay for debt settlement (including capital 3.278 billion yuan and the corresponding interest, penalty interest, and money intoCost, other expenses, etc.).Essence Trust said it will push ahead with the debt settlement as soon as possible and will divide the follow-up work into three aspects.1. For the transaction of 3.4% equity of BANK of China International, After BANK of China International completes relevant decision-making procedures and obtains approval from Hong Kong regulatory authorities (if necessary), An Trust will complete the asset delivery with Bank of China Shanghai Branch as soon as possible.2. As for the assets with rights restrictions in this transaction, Essence Trust will complete the asset delivery with Bank of China Shanghai Branch as soon as possible after the rights restrictions are lifted by the seizing and freezing institution.3. For other underlying assets without rights restrictions, Essence Trust is negotiating with the counterparty to handle the delivery procedures of relevant assets.In addition, according to the pre-loss announcement, Anxin Trust is expected to lose 1.1 billion yuan in 2021, 800 million yuan in loss after deducting non-recurring gains and losses, and the net assets attributable to shareholders of listed companies are expected to be 300 million yuan by the end of 2021.Nom Nom nom