The subsidiary of Beijing Investment Development Co., Ltd. suffered 26.7 million telecommunications frauds! 6 times last year’s net profit
In 2019, the net profit of this subsidiary of Beijing Investment Development was 4.3263 million yuan. The public security organs are actively investigating, and have frozen part of the funds obtained by fraud.
On the evening of June 23, a notice issued by Beijing Investment Development Corporation surprised the public that a subsidiary of the listed company encountered telecom fraud and was defrauded of 26.7 million yuan.
According to the announcement, the subsidiary Beijing Jingtou Yintai Real Estate Co., Ltd. (“Yintai Real Estate”), a 50%-owned subsidiary of Beijing Investment Development and managed by the partner, reported that its financial staff suffered criminal gang telecommunications fraud, which led to the bank account of Yintai Real Estate. The inner RMB 26.7 million was defrauded through the Internet on June 22, 2020.
On June 24, the Shell Finance reporter of the Beijing News learned from Beijing Investment Development that “the scammers have not been caught yet, and the people involved in the case are cooperating with the public security organs to make transcripts. We don’t know more details about the case and we have to wait for the public security organs. According to the public contact information, the reporter called Yintai Real Estate to try to interview more details about telecommunications fraud. The phone numbers showed empty numbers.
The amount of fraud is huge
The cheated company made less than 5 million profit last year
“I have never seen such a large sum of money defrauded in a single transaction.” Gao Lin, an insider of a telecom operator, told the Beijing News Shell Finance reporter, “I have only seen a fraud group that made so many illegal profits in total.” The person said After the victim reports to the police, the public security organs will conduct investigations and the operators will cooperate through technical means. Judging from the situation disclosed now, it is not clear how this huge sum of 26.7 million yuan was defrauded.
It can be seen from the number of the “Receipt of Acceptance Receipt” disclosed in the announcement of Beijing Investment Development that the case was handled by the Changyang Police Station in Fangshan District, Beijing. The Beijing News Shell Finance and Economics reporter called Fangshan Public Security Bureau and Changyang Police Station to inquire about the progress of the case. Fangshan Public Security Bureau responded that the case is under investigation.
“Under normal circumstances, a huge sum of more than 20 million yuan must be spent. It must be approved by the company’s internal levels and passed various financial audits. How can it be transferred after a few phone calls? A sum of money is indeed incredible.” Some insiders said.
It is understood that the financial staff of Yintai Real Estate reported the case to the public security organ as soon as possible after the incident and received the “Receipt of Acceptance” (Jinggongfang (Changyang) Acceptance Letter (2020) 51984) issued by the public security organ on June 23, 2020. number).
At present, the public security organs are actively investigating, and have frozen some of the funds obtained by fraud. As the case is in the investigative stage, the final impact is still uncertain.
It is understood that the real estate business of Yintai Property’s owners last year was less than 5 million yuan in net profit. Beijing Investment Development said: The company will actively cooperate with the public security organs in investigating this case, and will pay close attention to the investigation and handling of the case, and timely perform the obligation of information disclosure. Investors are advised to pay attention to investment risks.
On June 24, the Shell Finance and Economics reporter of the Beijing News learned from Beijing Investment Development that “the scammer has not been caught yet, and the people involved in the case are cooperating with the public security organs to take notes. We don’t know more details about the case. We have to wait for the public security organs. News.”
Yintai Property’s performance fluctuates greatly
Shareholders also include Beijing Vanke
In September 2011, Beijing Investment Land (a wholly-owned subsidiary of a listed company), Beijing Investment Corporation (the parent company of the listed company) and Beijing Vanke Co., Ltd. jointly signed and took effect the “Guogongzhuang Phase V Project Cooperative Development Agreement.” The project company Beijing Jingtou Yintai Real Estate Co., Ltd. was established on December 13, 2011, with a registered capital of 100 million yuan. As of December 31, 2011, the actual subscribed capital was 20 million yuan. The capital contribution ratio of each party is: Beijing Investment Land 15% , Beijing Investment Corporation 35%, Beijing Vanke Enterprise Co., Ltd. 50%.
According to the company’s information, the major shareholder of Beijing Vanke Co., Ltd. is also a listed company. It is Vanke Co., Ltd. with a 95% shareholding ratio.
The business nature of Yintai Real Estate is real estate development and operation, and it is one of the major subsidiaries and shareholding companies of Beijing Investment Development.
In recent years, how much performance did Yintai Real Estate contribute to the development of Beijing Investment?
From 2012 to 2019, the net profit of Yintai Real Estate was -1.7773 million yuan, -19,946,600 yuan, 217,844,200 yuan, -20.249,200 yuan, 382.8717 million yuan, 371.0369 million yuan, 473.1573 million yuan, and 4.3263 million yuan.
According to the 2019 annual report of Beijing Investment Development, “In May 2018, Yintai Real Estate decided to distribute profits to all shareholders with an amount of 800 million yuan, of which 120 million yuan was distributed to Beijing Vanke Co., Ltd. and Beijing Investment Corporation The profit was 280 million yuan, and 400 million yuan was distributed to Beijing Investment Land. As of the end of the reporting period, the dividend has not been paid.”
Beijing Investment Development’s revenue and net profit last year both fell
The gearing ratio is 91.05%
In 2012, Beijing Investment Land paid 35 million yuan to Beijing Vanke to purchase equity. The equity change was completed in April 2014. After the change, the shareholding ratios of all parties in Yintai Real Estate were: Beijing Investment Land 50%, Beijing Investment Corporation 35% and Beijing Vanke 15%.
Beijing Investment Development’s 2019 annual report shows that according to the “Equity Custody Agreement” and the “Supplementary Agreement to the Equity Custody Agreement” signed by Beijing Investment Corporation and Beijing Investment Land, Beijing Investment Land holds 80% of the voting rights of Yintai Real Estate. The shareholding structure shows that Beijing Investment Land is a wholly-owned enterprise developed by the listed company Beijing Investment.
The development of real estate projects developed by BII is divided into independent development and cooperative development. Most of the projects developed by BII are located in the Beijing area. The project types are mainly residential and commercial supporting facilities, and feature rail property series and urban landscape development series.
In 2019, when Yintai Real Estate’s net profit dropped sharply, the operating income and net profit of BII also declined year-on-year.
In 2019, Beijing Investment Development achieved operating income of approximately 4.328 billion yuan, a year-on-year decrease of 45.73%; net profit attributable to shareholders of listed companies was approximately 76.81 million yuan, a year-on-year decrease of 78.54%; deducted non-recurring gains and losses attributable to shareholders of listed companies Net profit was approximately 39.8621 million yuan, a year-on-year decline of 86.25%.
Beijing Investment Development stated that the company’s real estate sales to meet the carryover income conditions decreased compared with the same period in 2018, resulting in a decline in the company’s overall operating performance in 2019; the company received 3.72 billion yuan and 6.3 billion yuan in Beijing Fengtai District and Beijing Haidian at the beginning of the year. A total of 10.020 billion yuan was paid for the related use rights of the two land parcels in the district, and the company has a relatively large net outflow of cash flow from operating activities.
As of the end of 2019, Beijing Investment Development’s asset-liability ratio was 91.05%.
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