In 2065438+2008, Zhu Xinli, the king of fruit juice, made the Hurun Report with a net worth of 3.5 billion yuan. A year later, he was repeatedly forced by the court to restrict high consumption, and even was once listed as an executor of dishonesty. The latest news is that the assets of a company under Zhu Xinli's name of 465,438+billion yuan were frozen because it failed to repay the debt of China Merchants Bank.
Along with his fate, Huiyuan Juice, a national juice brand that "drinks Huiyuan in the New Year", is also facing the fate of delisting.
4 1 100 million assets were frozen, and the founder fell into disputes many times.
20 19 Up to now, Zhu Xinli, the founder of Huiyuan Juice, has been enforced by the court for five times, including two times as a high-limit consumer and 1 time as a person who has broken his promise. 20 19, 19 Since February, financial institutions have made moves one after another, and Zhu Xinli has frequently appeared in various dispute cases.
On February 2, 65438, Zhu Xinli was listed as "the person subjected to execution" and received a consumption restriction order in the case of a financial lease contract dispute with Minsheng Financial Leasing Company, because he failed to fulfill the payment obligations specified in the effective legal documents within the prescribed time limit.
65438+February 1 1, a civil ruling published by China Judgment Document Network, once again opened the embarrassing situation of "Juice Empire" and its founder. According to the ruling, China An Deyu Capital (HK) Co., Ltd. (hereinafter referred to as An Deyu Capital) actually controlled by Zhu Xinli was sealed up by the court, and its assets of 465.438 billion yuan were frozen.
This case originated from 20 15. At that time, Zhu Xinli An Deyu Capital invested 3 billion yuan to participate in the mixed reform of Sinopec sales company. In the same year, An Deyu Capital pledged the company's equity to China Merchants Bank. As An Deyu Capital is unable to repay the debts of China Merchants Bank, this loan lawsuit will be held on May 13, 2020. For the sake of asset preservation, China Merchants Bank applied for the complete seizure of An Deyu Capital.
Affected by the debt crisis of the whole group, Huiyuan Juice, which Zhu Xinli is most proud of, is also doomed. In 2007, Huiyuan Juice landed on the Hong Kong Stock Exchange, which was once the biggest IPO record of the year. On 20 18, the company suddenly announced the suspension of trading, which has been suspended for more than 20 months.
At the highlight moment, Coca-Cola once threw an olive branch.
Zhu Xinli, a native of Shandong, was once called the "watcher" of agriculture.
1992, Zhu Xinli, a county-level civil servant, resigned and went to sea to take over a fruit cannery that was about to close down, thus creating Huiyuan Juice, a brand that was well known to China families from now on. After Zhu Xinli took over, he adjusted the canning business of the original factory and produced concentrated juice.
Zhu Xinli's logic is not only to do the last step of fruit juice processing, but also to open up the whole industrial chain of fruit tree planting, processing and sales. By 2002, the sales of Huiyuan Juice, which meets the needs of increasingly affluent families in China, reached 654.38+0.2 billion yuan, accounting for 23% of the juice market share in China.
Subsequently, Huiyuan Juice was listed in Hong Kong in 2007, raising HK$ 2.4 billion, making it the largest IPO in Hong Kong that year. On the day of issuance, the closing price of Huiyuan Juice was 66% higher than the offer price, which greatly exceeded market expectations.
The following year, Coca-Cola, a global beverage giant, offered an olive branch to Huiyuan: it planned to acquire all the issued shares of Huiyuan Juice at a price of HK$ 65,438+02.2 per share, with a total amount exceeding US$ 2.4 billion (about HK$ 6,543.8+0.792 billion).
The merger is in line with the respective commercial considerations of both parties: Coca-Cola wants to improve its efficiency by acquiring mature juice brands; Zhu Xinli and Huiyuan Juice want to take this opportunity to pay attention to the upstream industrial chain.
Once the acquisition plan was announced, the share price of Huiyuan Juice rose 164%. If the Coca-Cola acquisition is successful, Zhu Xinli, which holds 42% of the shares, will make a profit of HK$ 7.4 billion. In order to facilitate this acquisition, Huiyuan Juice reorganized and reduced the sales system that took 16 years: the number of employees decreased from 9,722 to 4,935, and the number of sales staff decreased from 3,926 to 1 160 in one year.
Regrettably, in 2009, this acquisition was finally banned by the Ministry of Commerce according to the Anti-Monopoly Law promulgated in 2008, and it was stillborn.
Self-help is powerless, market value shrinks, and debt is heavy.
After the Coca-Cola acquisition ended fruitlessly, Huiyuan Juice fell into a quagmire that was hard to get rid of. First of all, two months after the acquisition failed, Huiyuan Juice's share price suffered heavy losses. After 20 1 1 announced to stop paying dividends, the market value fell to HK$ 5 billion, down 80% from the time of listing.
At that time, the reorganization of enterprises to cater to the acquisition also had a negative impact on the operation of Huiyuan Juice. The financial report of Huiyuan Juice shows that from 2009 to 20 16, its revenue scale rose from 2.85 billion yuan to 5.76 billion yuan, but in seven of these eight years, the non-net profit was at a loss.
At the same time, high-level turmoil followed. Since 201965438+1October 13, six executives of Huiyuan Juice have resigned, including Wu, the chief executive who has only been in office for seven months.
According to media reports, the management of Huiyuan is closely related to the family business and Zhu Xinli's absolute authority within Huiyuan. Zhu Xinli turned the direction of self-help to the operation at the capital level. On 20 13 and 20 14, Huiyuan Juice cashed in billions by issuing convertible preferred shares and bonds. After getting the money, Zhu Xinli intends to turn over by investing abroad. Participated in the acquisition of Suntory Beverage's business in China, and made a joint venture with Tiandi No.1 to become a shareholder in Sinopec Retail Company.
These reckless investments and capital operations not only failed to bring Zhu Xinli new chips, but also made the snowball roll bigger and bigger. 2065438+August 2008, Huiyuan Juice was exposed to delisting, with 4.2 billion illegal loans and liabilities of10 billion.
2065438+September 2009, a paper announcement of Weijin, a P2P platform workshop under Pioneer Group, tore open a bigger debt chain under Huiyuan Iceberg. Yichun Huiyuan Ecological Breeding Co., Ltd., Hulin Huiyuan New Ecological Dairy Co., Ltd., Hulin Huiyuan New Ecological Animal Husbandry Co., Ltd. and Yichun Yuanyuan Trading Co., Ltd. intend to pay debts with Huiyuan juice series products because they can't repay their debts of 465,438+085,000 yuan.
The actual controllers of the four companies in debt with Huiyuan Juice are all Zhu Xinli, and the loan guarantees are all Huiyuan Group. It can be seen that under the pressure of debt, Huiyuan did not hesitate to borrow P2P at a high interest rate.
Under the huge debt, the time left for Zhu Xinli and Huiyuan is running out. According to the latest announcement, the hearing of Huiyuan Juice's application for liquidation was postponed to March 2020 13. If the conditions for resumption of trading cannot be met, Huiyuan Juice will face the end of delisting.