Long Changsheng

Long Changsheng

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Long Changsheng, male, born in 1982, graduated from UCLA in 2004 with a bachelor's degree and UCLA with a master's degree in 2006. He served as chairman of abarancapital, director of Acer Investment Holdings (China) Co., Ltd. and executive director of Hong Kong Weilong investment fund.

Personal profile

As a rich man, long Changsheng has been making a lot of news. She married artist Zeng Shizhen more than ten years ago and has a 11 year old daughter. She has been having an affair with several sexy babies, including Lin Xilei, Zhang Xiaohui, Coco Lee, Shu Qi and Guan Zhilin.

"The detention of chairman long Changsheng is related to the guarantee business of China Import and Export Credit Insurance Corporation (hereinafter referred to as SINOSURE). It is not known whether it is a long-term business or a single business. However, because this "contract fraud" does not involve the production chain or supply customers, I believe it will not have much impact on the company's business. " Yesterday, an insider of Shanghai Hongsheng Technology Development Co., Ltd. (600817, hereinafter referred to as Hongsheng Technology) told the morning post.

On the evening of February 18, 2008, Hongsheng Technology announced that long Changsheng, chairman and general manager of the company, had been detained for contract fraud. The company said further information would be disclosed in a timely manner and investors would be reminded of investment risks.

Company information

According to public information, Hongsheng Technology is a high-tech enterprise specializing in the design, manufacture and sales of optoelectronic products and integrated circuit products in Shanghai. It was listed on the stock market in January 1994 and is a well-known "Laozhuang stock" in the market. The company's business model is to take orders from some large stores in the United States and then produce them by some domestic manufacturers. In the course of transaction, China Import and export credit insurance company insures the orders and accounts receivable. This mode is not only different from the mode of self production, but also different from the mode of pure trade, but also the mode of supply chain management. The company's main customers are American retailers, including Wal Mart, best buy and other large North American retailers.

The rapid growth of Hongsheng Technology in the past few years is mainly due to the rapid growth of the mobile memory card market, which is also the company's main source of income and profit.

Three people deal with daily business temporarily

The insider told Zaobao that on February 15, 2008, it was reported that long Changsheng had been detained. Because there was a public holiday in between, Hongsheng Technology announced the detention of the chairman of the board on February 18. "For the entire board of directors of Hongsheng Technology, it is a very sudden thing." Yesterday, Hongsheng Technology, a person familiar with the matter, said, "the board of directors of the whole company held a one-day meeting to draw up an interim treatment plan. Last night, we made an announcement and appointed three people to be in charge of the daily business of the company. At present, the daily operation of the company has not been affected. "

In an interview with reporters, the insider said that long Changsheng's detention was due to business problems of the company, not personal problems. He disclosed that long Changsheng was detained by the Shanghai public security economic reconnaissance department. "The economic investigation department did not give more explanation to the board of directors of Hongsheng Technology. From the content of the arrest order, long Changsheng was detained as the legal representative of the company. The reason for the detention is suspected of contract fraud, so it must have something to do with the business of the company. "

Beijing supervision

The Hongsheng Technology source revealed that the long Changsheng was arrested for "contract fraud", which was related to the company's long-term business partner, SINOSURE. He said that SINOSURE is headquartered in Beijing, and the detention is also an order issued by Beijing, and the Shanghai Economic Investigation Department only implements it. People close to China CITIC insurance also said that Hongsheng Technology's business relationship with China CITIC insurance is with the Beijing head office and has nothing to do with the Shanghai Branch of China CITIC insurance.

Hongsheng Technology's main business involved in import and export is electronic storage products. "Our business model is to take orders from some large stores in the United States and then produce them by some domestic manufacturers. In the course of the transaction, the China Import and export credit insurance company insures the orders and accounts receivable. "

The insider told reporters that Hongsheng Technology adopts the mode of supply chain management, which is different from its own factory production and pure trade.

The person said the incident did not involve the company's customers, U.S. sellers and domestic manufacturers. Hongsheng Technology's main customers are Wal Mart, best buy and other large North American retailers.

Large shareholders cashed 124 million in advance

It is worth noting that a few days before long Changsheng's detention, Shanghai HONGPU Industrial Investment Co., Ltd., the largest shareholder of Hongsheng Technology, had just cashed 124 million yuan by selling shares of Hongsheng Technology. Long Changsheng is also the chairman of Shanghai HONGPU Industrial Investment Co., Ltd. Some market participants speculate that perhaps the company's emergency cash out is to deal with the so-called "contract fraud" case.

On February 16, 2008, Hongsheng Technology announced that Shanghai HONGPU Industrial Investment Co., Ltd., the largest shareholder of the company, sold 10.452 million shares of the company from February 13 to February 14, 2008, accounting for 8.12% of the total share capital of the company, with a total cash out of about 124 million yuan. After the transaction, Shanghai HONGPU Industrial Investment Co., Ltd. still holds 40741776 shares of the company (accounting for 31.65% of the company's total share capital), and remains the largest shareholder of the company.

Hongsheng Technology (600817) was affected by the arrest of long Changsheng. After the resumption of trading, it plummeted and once fell to the limit position. However, the rapid decline did not last. Soon after, the stock rose gradually. By the end of the afternoon, the stock was at 11.68 yuan, down 3.39%, with a turnover rate of 14.1% and 127000 transactions.

Hongsheng Technology is a high-tech enterprise specializing in the design, manufacture and sales of optoelectronic products and integrated circuit products in Shanghai. It was listed on the stock market in January 1994 and is a well-known "Laozhuang stock" in the market. According to the data, Hongsheng Technology was shortlisted in the top 50 "2007 most globally competitive Chinese companies" jointly sponsored by Global Entrepreneur Magazine and international consulting company Roland Berger.

The rapid growth of Hongsheng Technology in the past few years is mainly due to the rapid growth of the mobile memory card (sdcard, CFcard) market. At present, it has also become the main source of income and profit of Hongsheng Technology. Hongsheng Technology has been involved in this market since 2003. Through continuous development, the market share of mobile memory card in the United States is close to 5%, which has a certain market influence. The stars are sexy, long Changsheng's "three sins" smash Hongsheng Technology

After the "Qiaohong case" in Maotai, Guizhou and the "Qiu Zhongbao case" in Feitian, the "sharp sword" of the regulatory level still came out frequently, and long Changsheng, the chairman of Hongsheng Technology, was "defeated". In the entertainment circle, long Changsheng is known as the "star killer". He is tall, handsome and romantic. He has had an ambiguous relationship with many sexy stars, such as Zhang Xiaohui, Coco Lee, Shu Qi, Guan Zhilin and Lin Xilei, and his lacy news is endless.

On February 18, 2008, long Changsheng was detained for contract fraud. On March 12, long Changsheng was formally arrested by the Shanghai Public Security Bureau on three charges: foreign exchange evasion, false investment and capital withdrawal.

After the opening, the main capital of Hongsheng Technology fled, struggled a few times, and fell on the daily limit board. By the end of the day, 13964 orders were sealed, with a turnover rate of 9.02%. According to the insiders, long Changsheng's "three crimes" brought Hongsheng Technology to a halt, and the main funds were firmly sealed. The stock market was bleak.

According to the announcement on March 14, 2008, long Changsheng, chairman of the board of directors, was involved in a huge overdue loan case. A subsidiary of Hongsheng Technology failed to repay the US $120 million (about RMB 800 million) l / C loan of China CITIC Bank Shanghai Branch. The export guarantor of this loan business is China Export Credit Insurance Corporation (hereinafter referred to as China CITIC insurance). Because it was overdue, SINOSURE reported the case to the police. Since then, the police investigation has uncovered the corruption nest case of China CITIC Bank Shanghai branch and China CITIC insurance company, involving the branch and sub branch presidents, and four employees of China CITIC insurance company headquarters have also been investigated.

Hongsheng Technology faces liquidation crisis

Hongsheng Technology has announced that the long Changsheng case "has had and will continue to have a significant impact on the normal operation of the company" and reminded investors to pay attention to investment risks. According to last year's China Daily News, Hongsheng Technology had a net asset of only 335 million yuan at that time, and was likely to be unable to repay more than 100 million US dollars of debt, thus facing a liquidation crisis.

As SINOSURE bears joint and several guarantee liability and becomes the ultimate creditor, in order to recover the capital, it has filed a lawsuit against HONGPU industry, the largest shareholder of Hongsheng Technology. At present, the court of Huangpu District has frozen 38.82 million restricted shares (25.59 million of which have been pledged) and 1.92 million unlimited shares (which have been pledged) of Hongsheng Technology held by HONGPU industry, totaling 40.74 million shares.

Stars are sexy

Long Changsheng is 46 years old and 1.8 meters tall. He is not only a big family, but also tall and handsome. He is quite famous in the business world, according to the new express. His wife, a former actress, left the show business after marriage, and they have an 11 year old daughter. It's true that long Changsheng's name has been associated with famous female stars again and again. He has an ambiguous relationship with Zhang Xiaohui, Coco Lee, Shu Qi, Guan Zhilin, Lin Xilei and many other sexy stars. It is even said that he has spent a lot of money

Chinese PinYin : Long Zhang Sheng