On the night of October 5th, Zhang Zhenxin, the real controller of the "Pioneer System", died in the UK. The official information shows that the pioneer Holdings Group Limited was founded in 2003, is a growth-oriented comprehensive enterprise group, deep plowing financial technology, asset management, wealth management and other fields, under the banner of the listed main body of the new holdings, including the palm of the crowd financial, pioneering payment and other businesses.
Public information shows that the three listed companies in Hong Kong stocks of the Pioneer system, Zhongxin Holdings (8207.HK), Hongda Financial Holdings (1822.HK), and Ping An Securities Group Holdings (0231.HK), have seen their share prices continue to fall since May 2018. As of the close of trading on October 6, the three share prices were reported at HK$0.012, HK$0.027, and HK$0.076 per share, respectively.In May 2018, the market value of one company, Sinosun Holdings, exceeded HK$20 billion, and the total market value of the three companies currently totals only HK$855 million.
In the A-share market, at present, in addition to Pioneer Venture Ltd. holds 2.02% of the shares of AISD, it has been difficult to find traces of the Pioneer system.
Three Hong Kong listed companies have become penny stocks
"Pioneer system" started in Dalian, Liaoning Province, is a representative of China's private diversified financial holding group, especially from 2014 to the first half of 2018 cross-border diversification of the most rapid development of its own. There are three Hong Kong listed companies, and in the new third board has layout joint currency. However, the pioneer system of three Hong Kong listed companies in the new Holdings, Hongda Financial Holdings and Ping An Securities Group Holdings last year's net profit was negative, up to a loss of more than 1 billion Hong Kong dollars, these three Hong Kong-listed company shares have fallen into penny stocks.
On June 28 this year, China Sun Holdings announced that Sheng Jia, an executive director of the company, has been transferred to non-executive director of the company, effective from June 28, 2019 onwards.
On October 4, Zhongxin Holdings, a Hong Kong-listed company in the "Pioneer System", announced that since the on-site inspection by the relevant departments of the Chinese government on July 8, 2019, Pioneer Payments Ltd. has temporarily ceased operations. Zhongxin Holdings suspended trading from 9 a.m. on July 8, 2019, and is still suspended.
Zhang Zhenxin had told Inside that Credit China Technology (8207.HK, now renamed Zhongxin Holdings) would become the main platform for Pioneer Group's blockchain finance. However, the second half of last year, the digital currency market all the way down, digital coin exchanges, upstream mining, etc. have suffered a heavy setback, Pioneer Group hold a lot of miners forced to sell at the bottom of the price.
According to media reports, a Jiangxi capitalist y involved in the pioneer system of capital operation, such as China Financial Leasing Company Limited (formerly known as China Computer Leasing Company Limited) reorganization, to take the Hong Kong stock company Hongda Financial Holdings and so on.
A-share market capital operation is not smooth
In accordance with the new three board listed enterprises United Currency disclosure of the real controller information, in 1994 Zhang Zhenxin served as the general manager of the Dalian business department of Shanghai Wanguo Securities. He was 23 years old. In other words, the "pioneer system" real controller Zhang Zhenxin 23 years old into the financial circle, 46 years old to 5 billion in the 2017 Hurun Hundred Rich List.
His fame began in the guarantee circle. 2003 Zhang Zhenxin set up a guarantee company - joint venture guarantee group, is an important carrier of the vanguard system layout of the financial sector, in February 2018 changed its name to joint venture financing guarantee group. Business information shows that the major shareholder of United Venture Finance Guarantee Group is Barbados MSM (Barbados) SRL. In accordance with the information disclosed by listed company Business City in 2016, Zhang Zhenxin holds 100% of MSM (Barbados) SRL and China Pioneer Financial Group Co.
Although he started in the guarantee industry, Zhang Zhenxin is believed to have made his fortune in the leasing industry. According to an October 2015 announcement by Key Bridge Communications (002316, now Asia Union Development), Zhang Zhenxin had indirectly held a 13.94% stake in China Financial Leasing through his control of Dalian United Holdings Ltd, which invested in Yinghua Leasing.
What really brings Zhang Zhenxin to the public eye is the operation of the Pioneer System in the capital market. In addition to successfully becoming the largest shareholder of Hong Kong listed company Zhongxin Holdings, the capital operation of the pioneer system in the A-share market is not smooth.
Key Bridge Communications was once seen as an important platform for the Pioneer System to enter the mainland capital. 2015 through the equity transfer, Zhang Zhenxin, Liu Hui and other control of Jiaxing Qiande Jingyi Investment Partnership (limited partnership) to obtain 19.84% of the equity of Key Bridge Communications.
In October 2015, Key Bridge Communications announced a 1 billion yuan fixed-income project to acquire China Finance Leasing and China Timber's 74.64% stake in Yinghua Finance Leasing Co. and its capital increase, fixed-income issuance of Qiande Jingyi and Zhang Zhenxin and others.
Since then, key bridge communication acquisition of billion sound securities, initiated the establishment of the pioneer fund, the share price soared, but ultimately terminated the fixed-price increase, Zhang Zhenxin also in September 2016 will be transferred to the Shenzhen Jingyi Investment Management Co., Ltd. chairman of the board of directors Liu Hui, no longer directly indirectly shareholding; and resigned from the position of director of the key bridge communication.
In the same year, Zhang Zhenxin's another attempt to reorganize the assets of Shenyang Commercial City was also not approved by the audit.
In 2016, Zhang Zhenxin again through the Dalian Jingyi Investment Center (limited partnership) to participate in the Dalian Shengya fixed increase. The fixed-income program was finally approved after several revisions, but Dalian Jingyi terminated its investment in Dalian Shengya in August 2017 because it was not completed within the validity period.
At present, in addition to holding 2.02% of the shares of A-share company Aishide through Pioneer Venture Limited, it is difficult to find traces of the Pioneer Department in A-share listed companies.
Acuity Brands 2017 annual report shows that it sold its shares of Zhongxin Holdings seven times in 2017, and Zhang Zhenxin-controlled Pioneer Venture Ltd. holds 2.02% of its shares, ranking as the fourth largest shareholder.
From public information, the pioneer system and Acuity Brands also have cooperation in the financial field. Acuity Brands holds a 51% stake in Hainan Pioneer Netcom Microfinance Co. In addition, net letter securities is the layout of the pioneer group in the securities sector. Public information shows that Netcom Securities' 2018 operating income of -3.244 billion yuan and net profit of -2.880 billion yuan are listed in the bottom two of the industry, and its net capital has dropped from 580 million yuan at the end of 2017 to -3.055 billion yuan at the end of 2018. The Securities and Futures Commission disclosed the results of brokerage classification, net credit securities from last year's CCC level fell three consecutive levels slipped to this year's D category.
Source: New Morning Post