A square face with a drooping corner of his eye and a firework pinned to his chest is the most widely spread photo of Li Fucheng, chairman of Fucheng Investment Group (hereinafter referred to as Fucheng Group). He also has many titles, such as "the richest man in Yanjiao" and "the national champion of cattle raising". Now, his enterprises are under investigation.

On September 9th, regarding the tax-related issues widely rumored by the outside world, the office of Hebei Provincial Taxation Bureau said in reply to Cailian that Fucheng Group, the controlling shareholder of Hebei Fucheng Wufeng Food Co., Ltd. (611965.SH, hereinafter referred to as Fucheng Co., Ltd. (9.221, 1.19, 1.99%), and its affiliated company Hebei Lianfu Real Estate Development Co., Ltd. (hereinafter referred to as Lianfu Real Estate).

In recent years, negative information about Fucheng Group has been circulating on the Internet, including the problems of chief financial officer Yu Hong, real estate general manager Chen Jingjing and other senior executives being taken away, being involved in mafia, tax evasion and bribery.

In July 2114, when Li Gang, a former mayor of sanhe city, Hebei Province, was dismissed, China Business News reported that Li Gang had been detained twice and confessed to the fact that several real estate developers in Yanjiao had paid bribes to him, all of which amounted to more than 11 million yuan. However, the above news has not been confirmed by official news so far.

But what is certain is that this Yanjiao local entrepreneur with many titles is currently at the forefront.

"China Bull King" to "Funeral First Share"

Fucheng Group was established in June 2116. According to reports, at the beginning of its business, Fucheng Group was only a cattle farm, that is, Fucheng Cattle Farm in Sanhe Xinglong Village, the predecessor of Fucheng Group, which was a private enterprise founded by Li Fucheng with a loan of 5,111 yuan in 1987.

Li Fucheng, who is 73 years old, once talked about his entrepreneurial experience. He said that he was born as a cowherd and started his business at the age of 14. His first business was to grind sesame oil. Later, he found that the sesame sauce residue produced by making sesame oil could be used to feed cattle.

Later, he got an interest-free loan to start his own cattle raising company. In 1994, Li Fucheng was awarded the title of "National Cattle Raising Champion" by the Ministry of Agriculture. By the end of 1996, its fixed assets reached 51 million yuan, 32,111 beef cattle were slaughtered, and 8,111 cattle were kept, so it was called "China Bull King" by the outside world.

After that, Fucheng Group continued to expand its business segments, and has now formed a large-scale comprehensive enterprise group integrating comprehensive development of agriculture and animal husbandry, food processing, catering services, real estate development, rural construction and transformation, finance, commerce and trade, property management and capital investment in other projects.

its subsidiaries include Hebei Fucheng Wufeng Food Co., Ltd., Hebei Fucheng Real Estate Development Co., Ltd., Fucheng International Hotel Co., Ltd., Sanhe Fucheng Brewing Co., Ltd., Xinglong Fucheng Cement Co., Ltd., sanhe city Runcheng Microfinance Co., Ltd., Sanhe Jinding Pawn Co., Ltd., Sanhe Fucheng Trading Co., Ltd., Fucheng Australia Investment Holding Co., Ltd. and dozens of other branches.

In 2114, Fucheng was listed on the Shanghai Stock Exchange, focusing on raising cattle, slaughtering cattle and selling beef. In 2113, Fucheng completed the merger and reorganization of Fucheng catering, and its main business increased catering services, which is also an extension of its animal husbandry industry.

after that, in 2115, Fucheng entered an industry completely unrelated to its main business-funeral industry, and acquired Sanhe Pagoda Cemetery and Pagoda Cemetery around Beijing, which also injected new vitality into listed companies and became the first listed company in funeral industry in A shares.

In the two fiscal years of 2117 and 2118, the funeral business provided a gross profit margin of over 86%.

The high return has enabled Fucheng to continue to increase its funeral business, and even set up a special M&A fund to invest in the funeral industry. At present, it has acquired 61% equity of Longshu Cemetery in Yixing, Jiangsu, and 61% equity of Shaoshan Tiande Fudi Cemetery Co., Ltd. in Hunan.

In addition, Li Fucheng, who retired in 2114, re-emerged from the mountain last year and resumed the business of Fucheng Group. According to industrial and commercial information, Li Fucheng, who is over 71 years old, holds 21% of the shares of Fucheng Group, and his two sons, Li Gaosheng and Li Gaoqi, both hold 41% of the shares.

On July 3, 2118, Fucheng Co., Ltd. announced that Fucheng Investment Group Co., Ltd., the controlling shareholder of the company, and its concerted parties intend to transfer the shares of the company to Overseas Chinese Holding Group Co., Ltd., and the transaction price and specific plan are still uncertain.

if the share transfer of the above shareholders is completed, the controlling shareholder and actual controller of the company will change. Fucheng Investment Group Co., Ltd. and its concerted parties currently hold 62.33% of the shares.

The "richest man" in Yanjiao real estate

There is a golden statue of Li Fucheng holding a whip to drive cattle in the Shangcheng project in Yanjiao.

In 2116, Li Fucheng's family ranked 9th on the Hurun Rich List with a wealth of 6.7 billion yuan, also known as "the richest man in Yanjiao".

Li Fucheng's real estate business started quite early. In 2112, he established Sanhe Fucheng Real Estate Development Company as the chairman of the board, and won a lot of land reserves in Yanjiao, which was called "Li Bancheng" by the outside world.

At that time, he put forward the slogan of "I will always build houses as long as there is drifting north", and successively developed projects such as Shangpin Fucheng, Shangcheng and Shangcheng Youth Community.

Shangcheng, a large-scale project focusing on low prices, has been recognized by the market. In 2114, with its outstanding advantages of being close to Beijing and cheaper than Daxing, Fangshan and Changping in Beijing at the same distance, 7,111 suites were almost sold out in a short time.

However, the other side of Yanjiao property market is also full of twists and turns. In 2117, the falling of land in Yanjiao triggered large-scale owners' rights protection, and the non-residential nature of a large number of projects surfaced. The phenomenon that Yanjiao developers changed industrial, greening and cultural tourism land into residential land without formal procedures also attracted widespread attention.

Among them, buildings 1, 2 and 3 in Fucheng Phase V belong to industrial land, and building 4 belongs to illegal land, and then these lands were quickly changed into residential land, so the owners can handle the settlement in a short time.

What is reflected behind the change of land nature is the intertwined political and business relationship. Li Fucheng has a prominent position in Yanjiao property market, and there are many rumors about his enterprise. For example, it is rumored that the Zaolin plot acquired by Lianfu Real Estate, a wholly-owned subsidiary of Fucheng Real Estate, 21 days ago is illegal. Although it has not been confirmed, the equity of Lianfu Real Estate held by Fucheng Real Estate has been frozen by Hengshui Public Security Bureau.

With the investigation led by the Hebei Provincial Commission for Discipline Inspection, the truth of the above rumors will be judged.