The negative-ridden Fucheng in Hebei Province was investigated as "the richest man in Yanjiao"

Uptown project developed by rich city.

Square face, drooping eyes, and a firework pinned to his chest. This is the photo of Li Fucheng, the chairman of the most widely circulated urban investment group (hereinafter referred to as Urban Group) on the Internet. He also has many titles, such as "the richest man in Yanjiao" and "the national cattle champion". Now, his business is under investigation.

On September 9, about the tax-related issues of Fucheng Group, the controlling shareholder of Hebei Fucheng Wufeng Food Co., Ltd. (600965). SH, hereinafter referred to as Fucheng shares (9.220, 0.09, 0.99%) and its affiliated company, Hebei Lianfu Real Estate Development Co., Ltd. (hereinafter referred to as Lianfu Real Estate), the office of Hebei Provincial Taxation Bureau replied to Cailian that the current case was handled by Hebei Province.

In recent years, negative information about the Urban Group has been circulating on the Internet, including the problems of chief financial officer Yu Hong, real estate general manager Chen Jingjing and other senior executives being taken away, being involved in triad activities, tax evasion and taking bribes.

20/kloc-in July, 2004, Li Gang, the former mayor of sanhe city, Hebei Province, was dismissed. According to the report of China Business News, Li Gang was detained twice and confessed that many real estate agents in Yanjiao paid bribes to him, amounting to more than 10 million yuan. However, the above news has not been confirmed by official news so far.

But what is certain is that this Yanjiao local entrepreneur with many titles is currently at the forefront.

"China Bull King" to "The First Funeral Share"

Fucheng Group was established in June 2006. According to reports, Fucheng Group started its business as a cattle farm, that is, Fucheng Cattle Farm in Sanhe xinglong village, the predecessor of Fucheng Group. This is a private enterprise founded by Li Fucheng with a loan of 5,000 yuan on 1987.

Li Fucheng, 73, once talked about his entrepreneurial experience. He said he was born as a cowherd and started his business at the age of 14. His first business was grinding sesame oil. Later, he found that sesame paste residue produced by making sesame oil could be used to feed cattle.

Subsequently, he got an interest-free loan and started his own cattle company. 1994, Li Fucheng was awarded the title of "National Cattle Raising Champion" by the Ministry of Agriculture. By the end of 1996, the fixed assets reached 50 million yuan, 32,000 beef cattle were slaughtered, and 8,000 cattle were kept, which was called "China Cow King" by the outside world.

After that, Fucheng Group continued to expand its business sector, and now it has formed a large-scale comprehensive enterprise group integrating comprehensive development of agriculture and animal husbandry, food processing, catering services, real estate development, rural construction and transformation, finance, commerce, property management and other project capital investment.

Its subsidiaries include Hebei Fucheng Wufeng Food Co., Ltd., Hebei Fucheng Real Estate Development Co., Ltd., Fucheng International Hotel Co., Ltd., Sanhe Fucheng Brewing Co., Ltd., Xinglong Fucheng Cement Co., Ltd., sanhe city Runcheng Microfinance Co., Ltd., Sanhe Jinding Pawn Co., Ltd., Sanhe Fucheng Trading Co., Ltd., Fucheng Australia Investment Holding Co., Ltd. and dozens of other branches.

In 2004, Fucheng shares were listed on the Shanghai Stock Exchange, mainly engaged in raising cattle, slaughtering cattle and selling beef. In 20 13, Fucheng completed the merger and reorganization of Fucheng catering, and its main business increased catering services, which was also an extension of its animal husbandry.

Later, in 20 15, Fucheng entered a funeral industry completely unrelated to its main business, and acquired Sanhe Pagoda Cemetery and Pagoda Cemetery around Beijing, which also injected new vitality into listed companies and became the first listed company in the A-share funeral industry.

In fiscal years 20 17 and 20 18, the funeral business provided a gross profit margin of over 86%.

The high return has enabled Fucheng to continuously increase its funeral business, and even set up a special M&A fund to invest in the funeral industry. At present, it has acquired 60% equity of Jiangsu Yixing Longshu Cemetery and 60% equity of Hunan Shaoshan Tiandefudi Cemetery Co., Ltd..

In addition, Li Fucheng, who retired on 20 14, came out of the mountain again last year and resumed the business of Fucheng Group. According to industrial and commercial data, the man who is over 70 years old holds 20% of the shares of Fucheng Group, and his two sons, Li and Li, both hold 40% of the shares.

On July 3, 20 18, Fucheng Co., Ltd. announced that the controlling shareholder of the company, Fucheng Investment Group Co., Ltd. and its concerted parties intend to transfer the company's shares to Overseas Chinese Holding Group Co., Ltd., and the transaction price and specific plan are still uncertain.

If the share transfer of the above shareholders is completed, the controlling shareholder and actual controller of the company will change. Urban Investment Group Co., Ltd. and its concerted parties currently hold 62.33% of the shares.

Yanjiao real estate "the richest man"

In the uptown project in Yanjiao, there is a golden statue of Li Fucheng driving a cow with a whip.

In 20 16, Li Fucheng's family ranked 9th on the Hurun Report with a wealth of 6.7 billion yuan, also known as "the richest man in Yanjiao".

Li Fucheng's real estate industry started very early. In 2002, he established Sanhe Fucheng Real Estate Development Company as the chairman, and won a large amount of land reserves in Yanjiao, which was called "Libancheng" by the outside world.

At that time, he put forward the slogan "As long as there is drifting north, I will always build a house", and successively developed projects such as Shangpin Fucheng, Shangcheng and Shangcheng Youth Community.

The main low-cost large-scale projects in Shangcheng have been recognized by the market. In 20 14, with the outstanding advantages of being close to Beijing and cheaper than Daxing, Fangshan and Changping in Beijing, 7000 suites were sold out almost in a short time.

However, the other side of Yanjiao property market is also ups and downs. In 20 17, the land decline in Yanjiao triggered large-scale owners' rights protection, and the nature of non-residential land for a large number of projects surfaced. Yanjiao developers have changed industrial, greening and cultural tourism land into residential land without formal procedures, which has also aroused widespread concern.

Among them, Fucheng Phase V 1 Building, Building No.2 and Building No.3 belong to industrial land, and Building No.4 belongs to illegal land. Then these lands are quickly changed into residential land, and the owners can settle down in a short time.

Behind the change of land nature is the intertwined relationship between politics and business. Li Fucheng occupies a prominent position in Yanjiao property market, and there are many rumors about his business. For example, it is rumored that the Zaolin plot won by Lianfu Real Estate, a wholly-owned subsidiary of Fucheng Real Estate, in 20 days is illegal. Although it has not been confirmed, the equity of Lianfu Real Estate held by Fucheng Real Estate has been frozen by Hengshui Public Security Bureau.

With the investigation led by the Hebei Provincial Commission for Discipline Inspection, the authenticity of the above rumors will be judged.