In 2002, after Li Xiufeng took over, Haci's stock began to lose money until it was delisted. Judging from the restructuring effect of Haci in recent years, although the company claims to be transforming into a green environmental protection industry, its new investment projects have been at a loss. According to statistics, from June to June, 2004, Haci Company illegally provided the controlling shareholder Haci Group Co., Ltd. and other related parties Harbin Tianye High-tech Industry Co., Ltd. and Harbin Tianye Meteorological Technology Co., Ltd. with funds of 342 104000 yuan, accounting for 56% of the company's audited net assets at the end of 2003. On June 5438+1October 65438+February, 2004, Li Xiufeng, Chairman of Harc Co., Ltd. and his company received a notice of public condemnation from the Shanghai Stock Exchange. The Shanghai Stock Exchange pointed out that Hasee Company illegally provided huge funds of 340 million yuan to controlling shareholders and affiliated companies, and failed to fulfill the prescribed decision-making procedures and information disclosure obligations of temporary announcements. This is the second time in a year that Haci has been publicly condemned by the Shanghai Stock Exchange for violating regulations. The use of funds is unknown, bank loans are pressing hard, and financial scandals have occurred one after another. Following Li Xiufeng's misappropriation of funds from listed companies, Li Xiufeng was regarded by investors as another "black hand" for "hollowing out" listed companies, and extended his black hand to the field of private equity funds on 20 10. Tianjin Dongfang Tianye Equity Investment Fund Management Co., Ltd. was established on June 9, 20 10, and Dongfang Tianye (Tianjin) Equity Investment Fund Partnership (Co., Ltd.) was established on February 7, 2010, with Li Xiufeng as its legal representative. Fake PE began to be more ostentatious and plundered in the capital market in the name of PE, and Tianye equity was also a company that was not filed with the National Development and Reform Commission. At that time, Li Xiufeng, who was full of joy and successfully listed on the backdoor, faced not only the decline of Hasee's performance, but also the debt crisis and marketing management that he was unable to cope with. Guo retired wholeheartedly under the glorious aura of Haci, but left an eternal stigma: hollowing out the black hand of listed companies, and finally Haci fell on him.