Can't sell it?Pan Shiyi and his wife resign, soho China's new successor's basic annual salary of 1.5 million yuan

Wangjing Soho Li Kai Triumph Photo

China Times (chinatimes.net.cn) reporter Li Kaixuan Li Beibei Beijing report

"Anyway, he had long moved to leave SOHO China (stock code: 00410.HK)." On the evening of September 7, a person in the real estate industry told the China Times reporter. On the same day, SOHO China issued an announcement that Pan Shiyi resigned as the chairman of the company's board of directors and other positions, and Zhang Xin resigned as the company's chief executive (CEO) position. Earlier, Pan Shiyi had been negotiating with Blackstone, trying to sell SOHO China, but after more than a year of pulling, the business of the two was blown at the last node.

SOHO China said that after resigning, the Pan Shiyi and his wife will still be an executive director of the company after resigning, and will focus on art and charity in the future. At the same time, the two people who have successively succeeded as professional managers and joined SOHO China for 20 years. The basic annual salary of the two was 1.5 million yuan, and there were dividends.

The stock price of the couple resigned on the day of the stock price rose sharply

On September 7, SOHO China issued an announcement that Pan Shiyi resigned as the chairman of the company's board of directors, chairman of the nomination committee, and chairman of the ESG Committee, and Zhang Xin resigned as the company's chief executive. At the same time, Pan Shiyi and Zhang Xin have confirmed that there are no differences with the board of directors, and there is no such thing as a resignation.

It is reported that after resigning the above positions, Pan Shiyi and Zhang Xin will focus on supporting art and charity, but continue to serve as the company's executive director.

Public information shows that SOHO China was founded in 1995 and was created by Pan Shiyi and Zhang Xin. SOHO China focuses on development and holding high -end commercial real estate. It has now become the largest office building developers in Beijing and Shanghai, with a total development of 5 million square meters.

In 2007, SOHO China was successfully listed on the Hong Kong Stock Exchange, and its financing reached 1.9 billion US dollars, setting an IPO in Asia's largest commercial real estate company. Or the resignation of Pan Shiyi and his wife. On September 7, SOHO China's stock price rose sharply and closed at HK $ 1.51/share, an increase of 11.03%.

Investors believe that the resignation of Pan Shiyi and his wife is an important event to promote SOHO China to "go to Pan Shiyi". The reporter's remarks in the stock bar, multiple investors said: "In the past two years, SOHO China was punished for incidents for random charges, and the fines reached 900 million yuan. SOHO China can reduce the impact on the company, which is beneficial to the company's valuation and operation. "

On the morning of September 8, SOHO China's stock price opened HK $ 1.52/share. At noon, SOHO China's stock price fell 0.66%to close HK $ 1.50/share.

Regarding the resignation of Pan Shiyi and his wife, the reporter of the Huaxia Times interviewed SOHO China. On the morning of September 8, the relevant person in charge of SOHO China responded to the reporter of the Huaxia Times: "Everything is based on the company's announcement."

The annual salary of the successor exceeds 1.5 million yuan

While announcing the resignation of Pan Shiyi and his wife, Soho China announced the reception list. Huang Jing, an independent non -executive director of the company, was appointed as the non -executive chairman of the Chinese board of directors, chairman of the nomination committee, and chairman of the ESG Committee. Xu Jin and Qian Ting were appointed as the executive director and joint CEO of SOHO China.

The announcement shows that Xu Jin and Qian Ting have joined SOHO China for many years. Xu Jin is 50 years old. He has previously served as Vice President of SOHO China and is responsible for the assets and property management sectors. It is reported that Xu Jin joined SOHO China in February 2001 and has more than 20 years of relevant experience in the real estate development industry.

Qian Ting is 45 years old and previously served as Vice President of SOHO China. He is responsible for the company's property leasing and sales section. It is reported that Qian Ting joined SOHO China in October 2002 and has 20 years of real estate sales and leasing experience.

It is worth noting that the two professional managers are salary. The announcement shows that the appointment period of Xu Jin and Qian Ting will be three years from September 7, 2022, and the annual basic remuneration of the two is 1.5 million yuan. In addition, the income of the two also includes the board of directors based on its performance.

Previously, blackstone was available

Although the Pan Shiyi and his wife resigned, Pan Shiyi wanted to withdraw from Soho China. In March 2020, the rumors of SOHO China will soon be sold in the market to complete the privatization. Affected by privatization, SOHO China's stock price rose sharply.

In June 2021, the privatization of SOHO's privatization made substantial progress. Blackstone proposed an offer that the maximum cash cost of the entire transaction was approximately HK $ 23.658 billion. However, the transaction that seemed to be almost "nail on the board" in the industry was finally blown. In September 2021, Blackstone announced that it would terminate the acquisition of SOHO China offers.

After the failure of SOHO China, Pan Shiyi also carried out a large -scale "sale" event in the first half of 2022 to set up a 32,000 -square -meter property to the shelves, and the sales model was used to repay the debt.

Recently, SOHO China is also called unsuccessful years. On July 7, SOHO China issued an announcement that the company's chief financial officer was under investigation by the police's insider trading of the company's stock. On the same day, due to the incident, SOHO China's stock price fell 2.78%. "Huaxia Times" reporter learned that the insider trading incident may be related to the previous acquisition of SOHO China. In terms of financial data, affected by the epidemic in the new crown pneumonia, SOHO China ’s investment -based property portfolio in Beijing and Shanghai has undergone tremendous pressure. In the first half of 2022, the average rental rate of the investment property portfolio of SOHO China had dropped to about 80%. In the same period of 2021, this value was 90%.

Despite the decline in the rental rate, SOHO China rental income has risen significantly. Data show that in the first half of 2022, the company's rent revenue was 896 million yuan, an increase of 11%year -on -year, and the company's net profit was about 194 million yuan.

As of June 2022, SOHO China ’s net asset -liability ratio was about 44%, and the cash in hand was 462 million yuan. It was difficult to cover a short -term loan of 1.613 billion yuan, and the company's debt pressure was relatively large. In response to the debt to be repaid in the short term, SOHO China said that the company intends to take a series of measures to reduce the pressure of capital and improve the financial status, including communicating with major lenders to obtain new financing and re -financing, selling some commercial properties, and the end of some commercial properties, and the end of some commercial properties, and the end of some commercial properties, and the end of some commercial properties, and the end of some commercial properties, and the end of some commercial properties, and the end of some commercial properties, and the end of some commercial properties, and the end of some commercial properties, and the end of some commercial properties, and the end of some commercial properties, and the end of some commercial properties, and the end of some commercial properties. Control administrative costs, etc., increase operating cash flow.

Editor -in -chief: Zhang Bei Editor: Zhang Yuning

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