The former richest man in Quanzhou has received a consumption restriction order again…
Tianyancha shows that recently, Guireniao Co., Ltd. and Guireniao founder Lin Tianfu have received another consumption restriction order, and the court issued a Hefei Intermediate People’s Court, the execution target is 131 million yuan.
The consumption restriction order stated:
“On August 11, 2020, this court filed an application for enforcement against the applicant Guoyuan Securities Co., Ltd. In a securities dispute case, because your unit failed to fulfill its payment obligations specified in the effective legal document within the period specified in the execution notice, consumption restriction measures were taken against your unit, restricting your unit and your unit’s legal representative Lin Tianfu from engaging in the following high consumption and Consumption behavior that is not necessary for life and work.”
This is the second time Lin Tianfu has received a consumption restriction order this year… The richest man in Quanzhou, who once had a net worth of nearly 20 billion, not only toyed with Guireniao’s market value of 40 billion My son is gone, I am still in debt, and I am deeply involved in lawsuits, which is sad!
Tianyancha shows that currently, the company has 5 pieces of information on persons subject to execution, 2 consumption restriction orders, and the cumulative execution target exceeds 400 million.
The total debt is 3.4 billion yuan
Higher than the market value of the two Guireniao Co., Ltd.
On December 2, Guireniao Co., Ltd. The announcement related to the lawsuit mentioned that due to tight liquidity, the company failed to pay the principal and interest of various bank loans on time, and the company’s total loan principal of 1.41 billion yuan in various banks has been overdue.
The announcement mentioned that in the short term, the company will have great difficulty in repaying the loan principal and interest from various financial institutions. Currently, the company is communicating with creditors and trying to reach an agreement with creditors on a debt settlement plan as soon as possible. If the debt cannot be settled, the company will continue to face uncertainties such as litigation, arbitration, and asset freezing in the future.
Guirenniao not only owes money to the bank, but also owes various suppliers and has yet to pay out. According to Guirenniao’s latest three-quarter report, Guirenniao has a total debt of 3.4 billion yuan.
As of now, the total market value of Guireniao is only 1.6 billion yuan, and its total liabilities are higher than the combined market value of the two Guireniaos.
At present, Guirenniao has been in difficulties such as overdue loans, debt overhang, and delisting risks for a long time. The company’s market value has evaporated by more than 36 billion yuan in five years.
Guirenniao is one of the earliest companies in China to produce and sell various types of casual sports shoes. In 2014, Zengtou became the “first A-share sports brand” to go public. The company’s market value once reached tens of billions of yuan. Its founder Lin Tianfu also became the richest man in Quanzhou in 2015 with a net worth of over 10 billion.
However, in recent years, Guirenniao has been on a “downhill road”. Under the pressure of debts, loans and other pressures, Guirenniao is on the verge of delisting.
The noble bird in the past has now become a “caged bird”, which is sad. </p
