A few days ago, Dong Jiangao's "post-90 doll" incident caused social concern and heated discussion, and the question of the age of the director of the city's investment company was the focus of the discussion.
Recently, daily economic news reported that Assets Investment Group Co. Ltd., a 29-year-old member, jumped to the chairman of the board: "He is 29, he is the president of 40 billion state-owned enterprises, but the company needs rely on government grants to make money. " However, this is not an isolated case in the country. The total assets of 12.131 billion yuan in Zibo City, Shandong Province, Linyi District Public Asset Management Co., Ltd. (hereinafter referred to as "Zibo Linyi Public Assets Company"), is also a large number of "young leadership" state-owned enterprise:
In October 2018, in this Linyi district, which is responsible for organizing and implementing the development and consolidation of land, infrastructure and support functions, and other state-owned properties with assets of more than 10 billion, all nine supervisors are "After the 80s and 90s, there are 3 after 90, representing 1/3.
It is worth mentioning that, since November of 2015, three young members of the council have assumed their positions.
The chairman of the board of directors completed 27 years when he took office.According to information from the China Money Network in October 2018, Zibo Linyi Public Assets Company released the "Proposal for the First Phase of Medium Term Notes in 2018 "With a planned issue value of RMB 400 million and a term of 5 medium-term Notes for the year. On November 6, the company issued another statement, stating that in view of recent market volatility, it decided to cancel the issuance of the medium-term notes for that period and reissue another time.
However, the rapporteur noted that the above prospectus indicated the age of the company's directors when it stated the issuer's management risk, indicating that there were "directors, supervisors and senior executives of younger issuers." What is the situation behind it?
1 Board Member
At the same time, the other two directors of Zibo Linyi Public Assets Co., Ltd. are also "young guys".
In addition to the directors, the supervisors and senior executives of Zibo Linyi Public Assets Co., Ltd. are all under the 80's and 90's.
2 Member of the board of supervisors of the company
3 Senior Manager
Based on the above information, the Zibo Linyi Public Assets Co., Ltd. has a total of 9 directors and supervisors.The specific age structure is: "80 people" (6 people are born in 1983, and the remaining 5 are "85s" ); "The oldest is the supervisor Gao Yuling, born in 1983. The youngest year of birth is director Chen Mingyang and supervisor Cao Li, both born in 1992.
One of the details that can not be ignored is that the curriculum shows that the three directors and some supervisors took up their duties from October to November 2015. This means that, three years ago, the Zibo Linyi Public Assets Company has entered the state of "rejuvenation "Of senior leaders.
Specifically, Zhang Gang, a financial position, entered the Public Asset Company Zibo Linyi in January 2014 and assumed responsibility of the president in November 2015. It took only a year and 10 months before and after. Since his birth in October 1988, the president was only 27 when he took office.
See the other two "post-90" directors. Guo Hongkun, born in May 1991, was only 24 when he was a director, and Chen Mingyang, who was born in June 1992, was only 23 when he was a director.
Not only the senior staff is generally younger, but the prospect also shows that as of the end of June 2018, there were 61 staff at headquarters and maintained subsidiaries of Zibo Linyi Public Assets Co., Ltd., all under 35 years old.
It used to be the "post-60" in command. As far as traditional printing is concerned, the leader who is in charge of billions of assets should be a more experienced person. "Daily Economic News" reporter noted that from the announcement issued by Zibo Linyi Public Assets Co., Ltd., the company was also led by the experienced "post-60s."
The filing date was the "Corporate Bond Prospectus of the Zibo Linyi District 2014 Public Broadband Management Co., Ltd.", published in April 2014. At that time, the directors and supervisors of the company were both in age and experience and were associated with the current administrative staff. There is a big difference – just in terms of the five board members, not just everyone "post-60", but most of them have experience in government departments.
According to the curriculum disclosed in the above mentioned prospectus, the chairman of Zibo Linyi Public Assets Company, Wang Shouguo, male, born in February 1965, is a bachelor. He served successively as Deputy Director of the Linyi District Finance Department, Zhutai City Secretary, Linyi District, and Director of the Linyi District Finance Department.
At that time, the director and general manager Lu Xinmin, male, born in September 1964, bachelor. He served in succession as Director of the State Assets Department of Linyi District, Director of the Linyi District Extra-budgetary Funds Management Office, Deputy Director of the Linyi District Finance Department and General Manager of the Zibo Public Assets Company Linyi.
The then director and chief financial officer Zhang Yenian, a male, born in April 1967, is a bachelor. He served successively as deputy director of the Linyi District Finance Department.
At that time, the director and deputy general manager Wang Wei, male, born in September 1966, bachelor. He served as a high school teacher and secretary of the Communist Youth League of Yantai City, Linyi District, and chairman of the labor union of Zibo Linyi Public Assets Co., Ltd., assistant manager and director of the office.
The then director, Peng Yanshui, male, born in December 1969, bachelors. He served as Sector Secretary for the Youth League of the Petrochemical Economic School of Jinan, Chief Accountant of the Joint Petroleum Enterprise Zibo Shengli, Head of Business of the Linyi Huaguang District Materials Department and Director of Real Estate Management of Zibo Linyi Public Assets Company.
In addition, only one of the five members of the Fiscal Council at the time was "post-80". The three senior executives have the same status as the directors, all after "60".
It is worth mentioning that the official website of the Linyi District People's Government issued information on the organization of the Linyi Finance Department on January 24, 2018. The names of Wang Shouguo, Lu Xinmin and Zhang Yinian appeared on the main leadership list .
Why did a state enterprise originally led by the "post-1960s" deliver the important duties of directors to a group of young people? What are the duties of these "post-80" and "post-90" Dong Jiangao in actual performance?
In addition, according to the deadline for the disclosure of the Prospectus for the First Phase of 2018, which was signed on October 16, 2018, one of Dongquan's recent high-income employees of Zibo Linyi Public Assets Co., Ltd Due to the expiration of the month, 6 (including 3 directors) are due to expire in November of this year, and the 2 remaining supervisors will also expire in April and May 2019. However, as of December 3, the reporter did not find a notice of disclosure about the change of supervision of the director of the company on the Chinese currency online. So compared to the previous one, has there been any change in the list of senior supervisors of the Zibo Linyi Public Asset Company?
On the afternoon of December 3, the reporter dialed the company's contact number in the prospectus.
The person who answered the phone said that this is the phone number of the company's office. When the reporter requested an interview, the staff said that the company leader was leaving and asked the reporter to send the interview question to the e- mail address. Although it was confirmed that the other party received the same day correspondence, until the time of publication, the reporter still could not receive the company's response to the interview question.
Participating in the management of 21 companies with assets in excess of RMB 10 billion, "Zibo Linyi District Public Asset Management Co., Ltd. 2018 First Phase Mid-term Manual Recruitment Notes" mentioned that the company chairman, general manager and other senior executives Both the quality of the business as the ethical quality have undergone a rigorous review, and the company will be named after its qualification.
However, the prospect also pointed out the managerial risks brought by the younger management staff. "The issuer's directors, supervisors and senior executives are between the ages of 24 and 31 and are younger. As the scale of operations of the company continues to expand and the scope of business can have a certain impact on the long-term development of the issuer due to lack of experience and experience. "
So what kind of company is this?
According to public information, Zibo Linyi Public Assets is located in the urban area of Linyi District, Zibo City, a state-owned enterprise registered in the Linyi District People's Government and registered in 1996. In September 2012, the People's Government of Linyi District transferred the company's capital to the State Administration of Assets of Linyi District. As of the end of June 2018, the company registered a capital of 200 million yuan, 100% owned by the State Administration of Assets of the Linzi District of Zibo city.
From a business point of view, the company is mainly engaged in investment in urban infrastructure construction, investment in construction of new rural areas (small towns), development and consolidation of land reserves, management of public assets under the authorization of the district government and industrial investment allowed by the State.
Subsequent investigations reveal that there are several holding holdings under the Zibo Linyi Public Asset Company. "Zibo Linyi District Public Asset Management Co., Ltd. 2018 First Phase Mid-term Notes Recruitment Manual" shows that as of the end of June 2018, the company invested in 21 key companies, including 7 holding companies and 14 participating companies, involving financial monopolistic industries such as electricity and heat, and industrial industries such as cement and plastic weaving. One of the participating companies is Shandong Qingyuan Group Co., Ltd. For this company which has continuously ranked among the "500 largest Chinese private enterprises" in recent years, Zibo Linyi Public Assets Co., Ltd. owns 37.74% of its patrimony.
The above prospectus revealed that, as a capital contribution company of the Asset Management Department of the Linyi District of Zibo City, Zibo Linyi Public Assets Co., Ltd.'s main business includes infrastructure construction, heating, coal , water supply, transfer income and other income, etc. It has an absolute monopoly.
From the revenue perspective, from 2015 to 2017 and from January to June 2018, the operating profit of Zibo Linyi Public Assets Co., Ltd. was 877 million yuan, 957 million yuan, 1.033 billion yuan and 484 million yuan million, respectively, corresponding to gross operating income. Were 72.625 million yuan, 104 million yuan, 125 million yuan and 44.692 million yuan, respectively.
The balance of the company's third quarter financial report for 2018 shows that, as of the end of September 2018, the assets of Zibo Linyi Public Assets Co., Ltd. totaled 12.131 billion yuan, of which 6,101 billion yuan and 6,030 billion yuan.
In addition, as of the end of June 2018, Zibo Linyi Public Assets Co., Ltd. invested a total of 1.194 billion yuan in construction projects. According to the plan, it is planned to invest 1.375 billion yuan, 929 million yuan and 680 million yuan between 2018 and 2020.
The reporter noted that in order to raise funds, Zibo Linyi Public Assets Company has repeatedly entered the bond market financing. After issuing a total of 1 billion and 7 years of corporate bonds "14 Linyi debt" in 2014 and payment was completed earlier this year, the company did not issue two 2018 corporate bonds with a total amount of 2 billion yuan and one for a 5-year term. (Protective Box) "18 Linyi 01", "18 Linyi 02".
In August this year in the credit rating report of the first phase of the 2018 medium-term notes issued by Zibo Linyi Public Assets Co., Ltd., Shanghai New Century Credit Rating Investment Service Co., Ltd. made the credit rating principal "AA" and debts. Classification of credit classification "AA".