Home Business China’s billionaire female billionaire Zhu Linyao’s mother and son were both investigated | Huabao Co., Ltd. | Huabao International | Lin Jiayu

China’s billionaire female billionaire Zhu Linyao’s mother and son were both investigated | Huabao Co., Ltd. | Huabao International | Lin Jiayu

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[Epoch Times, January 29, 2022]After Zhu Linyao, the actual controller of Huabao Co., Ltd. and Huabao International, was put on file for investigation, his son Lin Jiayu, director of Huabao Co., Ltd., was also put on file for investigation. Currently, both mother and son are under residential surveillance. In the four trading days after the news of Zhu Linyao’s investigation, the two listed companies have lost more than 32 billion yuan in market value (RMB, the same below)

On January 24, Huabao announced that the actual controller of the company, Zhu Linyao (born in 1969, Hong Kong nationality), filed a case for investigation due to illegal issues. On the evening of the 26th, Huabao Co., Ltd. said that the company learned from Zhu Linyao’s family that Zhu Linyao had been placed under residential surveillance at a designated residence.

On the evening of January 27, Huabao Co., Ltd. issued another announcement saying that the company received a notice of filing a case from the Hengyang County Supervisory Committee that afternoon. Director Lin Jiayu was placed on file for investigation for illegal issues and is currently under residential surveillance at a designated residence.

Lin Jiayu was born in 1992 and is a Hong Kong citizen. Huabao shares disclosed that Lin Jiayu also serves as the chairman of the company’s controlling shareholder Huafeng International Investment Holdings (China) Co., Ltd. (hereinafter referred to as Huafeng China) and its concerted action person Shanghai Xiangyue Technology Development Co., Ltd. (hereinafter referred to as Xiangyue Technology). , the legal representative, he does not directly hold the company’s shares.

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In 1996, Zhu Linyao established Huabao Co., Ltd., the predecessor of Huabao Co., Ltd. in Shanghai. Since March 2004, he has served as the chairman of the board of directors, chairman of the nomination committee and chief executive officer of Huabao International, from November 2015 to September 24, 2017. Ren Huafeng China Chairman. Huafeng China holds 81.1% of Huabao shares.

As the leader of a leading enterprise in the domestic flavor market, Zhu Linyao is known as the “Queen of Flavor” by the capital market. And because she is good at capital operation, some investors jokingly call her the “pumping queen” of the capital market. Zhu Linyao is quite low-key personally and rarely accepts outside interviews.

Zhu Linyao has two listed companies, one is Hwabao International, which is listed in Hong Kong, and the other is Hwabao, which is listed in A-shares.

According to the mainland “Securities Times” report, industry insiders said that there are rumors in the industry that Zhu Linyao’s case was related to Liu Jianfu, a member of the party group and deputy general manager of Hunan China Tobacco Industry Co., Ltd. who voluntarily surrendered last year.

On the same day that Zhu Linyao was placed on file for investigation, Zhou Tao, deputy secretary and general manager of the Yunnan China Tobacco Party Group, was also investigated.

At the end of 2013, Zhou Changgong, the former general manager of Hunan China Tobacco, and many other officials were investigated.

On October 30, 2020, Lu Ping, Secretary of the Party Leadership Group and General Manager of Hunan China Tobacco Industry Co., Ltd., was investigated. Lu Ping was accused of accepting 413 million yuan in bribes and embezzling 135 million yuan of public funds, the largest amount involved in the national tobacco system and in the Hunan area since the founding of the Communist Party of China.

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According to public information, both China Tobacco Yunnan and China Tobacco Hunan are customers of Huabao. According to the prospectus of Huabao, from 2015 to 2017, China Tobacco Yunnan and China Tobacco Hunan were the company’s first and second largest customers respectively.

Affected by the Zhu Linyao case, the stock price of Huabao shares fell by 31.75% from January 24 to January 27, and the stock price of Huabao International fell by 65.98%.

According to the 2021 Hurun Rich List, Zhu Linyao’s wealth reached 49 billion yuan, ranking 122nd on the list. According to the 2021 Forbes Rich List in Mainland China, Zhu Linyao ranks 99th on the list with a fortune of US$5.8 billion.

Responsible editor: Xu Menger

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