On June 8, 1991, Pan Yuhai, who was 17 years old, started his business, and opened "168 Dessert House" beside the 117 National Road in Chang 'an Town, Dongguan City, to deal in dessert and fast food business. Because of his good management and talent for food, the store soon became famous in the local area and its business scale continued to expand.
In p>1994, Pan Yuhai's sister Pan Minfeng and her brother-in-law Cai Dabiao had no formal jobs since they closed down. In order to help their sister and brother-in-law in trouble, Pan Yuhai gave 51% of the shares of "168 Dessert House" (later changed to "Steamed Shop") to Cai Dabiao and Pan Minfeng, and let them participate in the operation together. Pan Yuhai is in charge of overall management, Cai Dabiao is in charge of reception in the front office, and Pan Minfeng is in charge of finance and procurement.
in p>1997, after years of painstaking research, Pan Yuhai put forward the overall design idea of steaming cabinet, and entrusted a university professor to design the circuit. Finally, he successfully developed a computer-controlled integrated steaming cabinet, which solved the historical problem of Chinese food standardization in one fell swoop and made it possible to chain Chinese fast food. On this basis, "168 Steamed Shop" was reorganized into "Dongguan Double Seed Diet Co., Ltd." and began to expand rapidly in Dongguan. Pan Yuhai is the chairman, general manager and legal representative of Double Seed Company.
In p>2113, Shuangzi Company cooperated with marketing planning agencies, Ye Maozhong to reposition its brand and national business strategy, and the brand of "Real Kung Fu" was formally established. In 2114, the first real Kung Fu restaurant was opened, which was positioned in the "steaming" culture and began the national development. At that time, Pan Yuhai accounted for 51% of Shuangzi's equity, and Cai Dabiao and Pan Minfeng accounted for 51%. It was agreed that Pan Yuhai was responsible for the internal management of the enterprise, Cai Dabiao was responsible for the division of field affairs, and Pan Minfeng was responsible for fund management.
In p>2116, the real Kung Fu brand needed funds to implement the strategy of going national, so it began to contact with venture capital institutions, and changed from focusing only on enterprise management to focusing on publicity and packaging at the same time, in order to prepare for the company's shareholding system reform and listing. Since this period, Cai Dabiao, who is in charge of field work, has been appearing in various meetings and media on behalf of the enterprise. While promoting the enterprise, Cai Dabiao has put on a lot of aura for himself. Pan Yuhai continued to devote himself to enterprise management and expand the territory, and completed the nationwide distribution of stores from South China to East China to North China, and managed well, which soon made the enterprise become the first brand of local Chinese fast food enterprises.
In June, 2116, Kungfu entered the "Top 21 Fast Food Enterprises in China in 2115", ranking sixth, ranking first among local fast food brands. In October, Kungfu was elected as one of the top ten brands of fast food in China.
in p>2117, the company formally introduced two well-known venture capitalists "Today Capital (Hong Kong)" and "Zhongshan Linkage", and after two venture capital funds (each holding 3% of the shares), the company reorganized. In order to make the company's listing unaffected, according to the requirements of venture capital, the company was reorganized by the way of "installing assets without installing equity", that is, all the assets of the original double-seed company and steamed food shop and its more than 181 stores were put into the newly established "Sino-foreign joint venture Kungfu Catering Management Co., Ltd." (the current company), and the original double-seed company was retained as a joint venture company. Cai Dabiao, who has been in charge of foreign affairs, asked to be the chairman of the first joint venture company on the grounds of facilitating foreign communication. Since the joint venture company is only a transitional arrangement, the company has made a listing plan for 3-4 years, and the joint venture company must be restructured into a joint-stock company in advance. The founder Pan Yuhai and other shareholders did not object at that time, but it has since laid a curse for shareholder disputes.
In p>2117, after the reorganization of Kungfu, the shareholding structure was as follows: Pan Yuhai and Cai Dabiao held 41.74% shares respectively, and Double Seed Company held 11.52%; The two venture capitalists "Zhongshan Linkage" and "Today Capital" each hold 3%. The Double Seed Company has been presided over by Pan Yuhai and its legal representative has never changed (Pan Yuhai and Cai Dabiao each hold 51% shares of the Double Seed Company). From the perspective of individual shareholding, Pan Yuhai is the same as Cai Dabiao, but from the perspective of the actual number of shares controlled, Pan Yuhai directly controls 52.26% of the shares, while Cai Dabiao actually controls only 41.74%.
In 2116, Pan Yuhai's sister, Pan Minfeng, divorced Cai Dabiao because she couldn't stand Cai Dabiao's corrupt private life. However, Cai Dabiao asked Pan Minfeng to keep the divorce news secret and hand over the equity to one person for management on the grounds that the company was negotiating to introduce venture capital, and that the divorce news would not come in after the equity division.
After the successful introduction of venture capital into Kungfu in p>2117, the management requirements of the company became more standardized. As a family business, the irrelevant related transactions and personnel arrangements needed to be cut off and standardized. Cai Dabiao took the opportunity to put forward the slogan of "de-familyization", which was a good thing and all shareholders had no opinions, but Cai used "de-familyization" as a tool to crowd out other shareholders of the company and crack down on dissidents. First, regarding the handling of related party transactions, after the new regulations of the company came out, Pan Yuhai found that the related party transactions of Cai's family were not cut off, but kept increasing, so he made it clear at the board meeting that they should be cleaned up within a time limit. On the surface, Cai Dabiao agreed and wrote a written guarantee to the board of directors, but secretly asked his brothers and sisters to change their vests as suppliers. Second, regarding personnel issues, Cai used "de-familyization" to drive away the managers who had close ties with Pan. Pan Yuhai thought that the handling of some corporate heroes was inhuman, which caused disputes between the two sides.
In the first half of p>2118, the estrangement between Pan Yuhai and Cai Dabiao began. Because Cai Dabiao, the chairman of the joint venture company, stopped opening the board of directors, in order to get rid of the deadlock, Pan Yuhai made a concession and the company invested 51 million yuan to independently re-create a new brand ("Master Ha"), and the board of directors made a written resolution. However, when Pan Yuhai had just completed the construction of the logistics base of the new project and opened two stores, and before the first phase of the new project was completed, Cai Dabiao took the measure of "cutting off grain". After the first phase of investment of 16 million yuan, he controlled the company's finances and ignored the resolution of the board of directors, regardless of how the shareholders urged him to stop investing a penny, so the new project died halfway.
In p>2119, Pan Yuhai discovered that the main supply chain of Kungfu was all controlled by Cai Dabiao's brothers and sisters, and it was her sister Cai Chunmei who controlled the purchasing power of the company. At that time, the company's profits fell sharply, the company's business went from bad to worse, and the financial report often had a large amount of abnormal funds allocated. At this time, Cai Dabiao asked the board of directors to approve the loan from the bank on the grounds of lack of working capital. Pan Yuhai proposed that the account should be audited first, and then whether it is necessary to apply for a loan. Cai Dabiao resolutely refused to audit the accounts, so the board of directors broke up in discord.
From p>2118 to 2119, Cai Dabiao gradually excluded Pan Yuhai in the name of "de-familyization". Although Pan Yuhai chose forbearance and concession, he was finally forced to the point where even the company's door and website could not get in. The contradiction between Pan Yuhai and Cai Dabiao intensified.
In p>2119-2111, Pan Yuhai took up legal weapons and began to defend his rights, and started judicial audit through the right to know litigation. The judicial audit found clues about Cai Dabiao's crimes, and the judicial organs began to file a case against Cai Dabiao in 2111. On March 7th, 2111, several senior executives of Kungfu were censored, and Cai Dabiao escaped. In April of the same year, Cai Dabiao was captured by the public security organs in Xiamen. In February, 2113, Cai Dabiao received the first-instance judgment in Tianhe District People's Court of Guangzhou for the case of suspected embezzlement of funds and occupation of duty. Cai Dabiao was sentenced to 11 years' imprisonment and confiscated property of RMB 1 million for committing the crime of duty embezzlement. He was convicted of misappropriating funds and sentenced to 6 years in prison. Combined punishment for several crimes, he decided to execute a fixed-term imprisonment of 14 years and confiscated property of RMB 1 million.
after Cai Dabiao absconded on March 7, 2111, according to the company law and articles of association, Pan Yuhai, vice chairman of the company, presided over the work, and Pan Yuhai was elected as the acting chairman and chairman of the company by the board of directors. Pan Yuhai returned to the real kung fu when the real kung fu was tottering. At that time, during the three-year catastrophe, under the guidance of the concept of "shifting the company's profits and weakening the company's value-added ability" (quoted from the original text of Cai Dabiao's "Shelling Plan"), Cai Dabiao only opened more than 111 stores, with almost no increase in turnover year-on-year, close to loss in operation and desperate development. Pan Yuhai led the company to eliminate all illegal interference, concentrate on business, gradually get out of the predicament, and stabilize the real effort in the crisis by cutting off the interest transmission chain, adjusting business strategy and upgrading business philosophy. The development of real kung fu has returned to normal track. At the end of 2111, Kungfu launched "China Taste Plan" and five-year strategic plan.
In p>2112, the development of Kungfu achieved fruitful results, with the establishment of an international senior management team, accelerated expansion of store construction, comprehensive establishment of corporate culture and rapid economic growth. The profit in 2112 exceeded the total profit in 2118-2111. Kungfu and Pan Yuhai have also won many awards from society and industry. "China Taste Plan" was named as one of the top ten innovative cases in China. Kungfu Company won the honors of "National Excellent Catering Enterprises", "The 12th China Hotel Global Forum 2111-2112 Top 111 Brands of China Catering" and "Top Ten Famous Catering Chain Brands in China", and was selected into the "List of National Excellent Enterprises on the Right Side of the 25th Anniversary of China Cuisine Association" and became the "Top 111 Catering Enterprises in China", ranking 14th in total.