After the infighting crisis of Hougu Coffee, the major shareholders are soft and want to be reconciled.

Our reporter Wang Prophet reports from Beijing.

Yunnan Dehong Hougu Coffee Co., Ltd. (hereinafter referred to as "Hougu Coffee"), China's largest local coffee company, has encountered the biggest crisis since its inception.

Prior to this, Hougu Coffee took the lead in declaring that the bank had telegraphed Hougu Coffee many times that the new credit approval for the loan had been completed, but the approval of the board of directors was required before the loan, otherwise the loan could not be lent, and the investors did not sign the resolution of the board of directors in order to intimidate the management of Hougu Coffee to hand over the management power, thus causing Hougu Coffee to face the danger of breaking its capital chain.

On June 27, 2012, Mr. Guo, the investor representative of Hougu Coffee, pointed out in an interview with our reporter that at present, the evidence they have can prove that the actual controller of Hougu Coffee has a large number of criminal facts and has been suspected of criminal offences. "We reiterate once again that there has never been a difference in corporate control between investors and Hougu Coffee. The so-called equity dispute is just a fog spread by Xiong Xiangjin and others to cover up the great damage they have caused to Hougu Coffee. " Mr. Guo said.

In the face of a strong counterattack from investors, Xiong Xiangjin, chairman of Hougu Coffee, has changed a lot. When getting through to our reporter, Xiong Xiang changed the high profile of a few days ago and said: "Let's talk about it in a few days."

Major shareholders are accused of illegally misappropriating funds

Hougu Coffee was established in 2007 with a registered capital of 210 million yuan. The company is mainly engaged in the cultivation, development, processing, sales and technical consultation and service of coffee and rubber seedlings. By the end of 2011, Hougu Coffee has developed more than 210000 mu of coffee planting area in Yunnan Province, and the products have been sold to 27 countries and regions.

As early as the second half of 2009, in order to successfully enter the A-share market in 2011 or 2012, Hougu Coffee hopes to introduce venture capital cooperation.

In early 2011, a fund company in Beijing reached an investment agreement with Hougu Coffee Company, in which the equity investment company jointly associated with Hougu Coffee Company became the new shareholder of Hougu Coffee Company in July 2011. a total investment of 307 million yuan, a total of 36.25% of Hougu Coffee. The above equity investment enterprises include Xinjiang Beichen Dexin Equity Investment Co., Ltd., Beijing Naqi Jiaye International Trade Co., Ltd. And Hohhot Zhongxiang Trading Co., Ltd.

After the introduction of equity investment company, Dehong Hongtian Industrial (Group) Co., Ltd. (hereinafter referred to as "Hongtian Group") and the original entrepreneurial team jointly own 63.75% of Hougu Coffee. At present, the majority shareholder of Hougu Coffee is Hongtian Group, which has a stake of 59.74%.

According to Mr. Guo, the investor stipulated in the investment agreement that the investment money should be earmarked for the purchase of fresh fruit of coffee and other business-related matters agreed by the investor. However, from August to September 2011, after completing the investment in Hougu Coffee and gradually mastering the real business situation of the company, Hougu Coffee controlling shareholder Hongtian Group and its actual controller (also the legal representative of Hougu Coffee) are suspected of embezzling a large amount of Hougu Coffee funds and moving out of the company. The whereabouts of a large amount of funds that should have been used for enterprise development are unknown.

In order to find out the doubtful points in the company's accounts, investors jointly engaged a third party to conduct an in-depth investigation into the company's financial and legal issues from the end of October to November 2011 with the joint consent of major shareholders.

Mr. Guo told our reporter that in this survey, investors found a lot of bear illegal fraud and suspected illegal and criminal behavior. For example, Xiong Xiangjin has paid money to Hongtian Industrial in the name of many times in the past, but the actual business behavior has not taken place, and the true whereabouts of the money is unknown; Xiong Xiangjin has made up contracts and misappropriated or embezzled company funds.

At present, the investors have reported the case. On April 26, 2012, the Dehong Prefecture Economic investigation Detachment has filed a case for investigation of Xiong Xiangtan's suspected illegal misappropriation of funds, job embezzlement, and loan fraud. Given that it is at the judicial stage, it is inconvenient for investors to disclose more public details.

However, Hougu Coffee believes that the entry of fund companies did not achieve its expected goal, but hindered the listing of Hougu Coffee. The company was not only dragged into the "quagmire" and listed in the distant future, but even made Hougu Coffee Company face severe survival challenges.

In the face of the accusations from the investors, Zhang Ruijing, the legal representative of Hongtian Group, did not agree when interviewed by our reporter. He believes that investors accused Hongtian Group of illegal misappropriation of funds is unwarranted, they used the funds before the investors should know, but the other side did not stop at that time.

With regard to the dispute between the two sides, Zhang Xun, the financial executive director of Ruisi Zhibo, who has studied the capital market for a long time, believed in an interview with our reporter that the investors accused the major shareholders of Hougu Coffee of embezzlement of a large amount of funds and did not know where the funds were going, which showed that the investors were very unprofessional. If professional, this kind of thing can be completely avoided. It is not clear whether it is illegal possession or not, and it is up to the court to decide.

Major shareholders want to seek reconciliation

Before introducing venture capital, Xiong Xiangjin made a three-step plan for Hougu Coffee: planting-deep processing-terminal brand, to be listed around 2011 on the basis of good planting and deep processing capacity, and then build Hougu Coffee brand. Hougu Coffee plans to raise 2 billion to 3 billion yuan and invest in the construction of a 100,000-ton production line. Investors had predicted a net profit of 40 million yuan after 2011 and 100 million yuan in 2012. At that time, Xiong Xiangyu's idea was to select a professional third-party partner together with capital after the introduction of venture capital, and let the professional strength to do the brand.

But let the bear fall in love unexpectedly, after the introduction of venture capital did not achieve the desired ideal.

Liu Minghui, chairman of Yunnan Aiyi Group, and Xiong Xiangjin have known each other for 20 years. In his view, Xiong Xiangjin is the leader of Yunnan coffee industry.

Yunnan Aiyi Group was founded in 1993, started from the catering industry, and is now very famous in Yunnan. In addition to the coffee industry, the enterprise is also engaged in animal husbandry and catering industry.

It is out of concern about the current situation of Hougu Coffee, Liu Minghui told our reporter: "We will not deliberately pull out seedlings to encourage, temporarily will not introduce venture capital, what we need most is talent." Liu Minghui believes that enterprises in Yunnan, including themselves, have limitations in terms of talents. at present, what they lack most is not capital, but talents who understand brands and marketing. it is very difficult for local talents in Yunnan to create a well-known coffee brand, so if Yunnan local enterprises want to introduce external forces, what they should first introduce is not monetary capital, but talent capital.

With regard to the current civil strife in Hougu Coffee, Liu Minghui said that Hougu Coffee is the big brother of China's local coffee industry, and the current problem is not insurmountable.

"the dispute between Hougu Coffee and investors is in the process of communication, and it should not be a big problem to resolve this dispute." Zhang Ruijing told our reporter.

Mr. Guo also told our reporter: "We also want to develop in this direction as far as possible. Before some obstacles are removed, it is difficult to say what will happen in the future." Mr. Guo also stressed that the purpose of investors is not to control Hougu Coffee, but to make the company develop better, and the goal of listing in the future has not changed.

(responsible Editor: Leo)