Wen/Leju Finance Lin Zhenxing
CSCEC cooperated with Lu Hongbo, the first leader, and Liu Boda, the second leader for a whole year. Lu Hongbo likes to listen to the sound of gunfire and go to the front line to investigate projects; Liu Bo, on the other hand, receives guests internally and gives guidance speeches.
At present, their identities have been greatly changed. On May 13, the legal representative of CSCEC and Real Estate Co., Ltd. (hereinafter referred to as "CSCEC and") was changed from Lu Hongbo to Liu Bo.
There is always a mystery behind the personnel adjustment of central enterprises. Lu Hongbo left office only one year after he took the position of legal person. Whether the change is to avoid risks or the signal of CCB and changing the leader, there are different opinions outside.
In April last year, CSCEC and announced the decision to appoint and remove the company's main leaders: Lu Hongbo, the deputy general manager of CSCEC Fifth Engineering Bureau, concurrently served as the secretary, chairman and legal representative of CSCEC and the Party Committee. Liu Bo joined the company earlier than Lu Hongbo. In September 2021, he was appointed as the director, general manager, and deputy secretary of the Party Committee of China Construction Credit Suisse. Previously, he was the general manager of the investment department of the Fifth Bureau.
Since Lu Hongbo took office, CSCEC has been making efforts in the land auction market. First shot in Beijing in 2024, it hit the L42 plot of Dawayao in Fengtai District with 3.853 billion yuan; On May 17, it won Lot 013 of Changsha Red Star Urban Renewal Area with a base price of 1.295 billion yuan.
As the operating platform of the real estate business of China Construction Fifth Engineering Bureau, China Construction Credit and its sales last year were 15.28 billion, ranking 89. Although ranked among the top 100, it is less than 33.3 billion of CSCEC First Grade, 33.1 billion of CSCEC Dongfu, 16.56 billion of CSCEC Jiuhe and 16.86 billion of CSCEC Zhidi.
In 2023, the real estate development and investment business of China Construction Fifth Engineering Bureau will achieve a revenue of 10.275 billion yuan, down 8.17% year on year. This revenue volume is almost at the same level as the 9.9 billion in 2019 four years ago.
Not only did China Construction Credit Union retrogress its revenue scale four years ago, but its companies were not "relieved".
Recently, the Jinan Municipal Taxation Bureau of the State Administration of Taxation released the No. 2 Tax Arrears Announcement in 2024. Among them, the total tax arrears of Jinan CSCEC and Real Estate Co., Ltd. is 92632443.68 yuan, and the tax arrears is land value-added tax.
According to Leju Finance, Jinan CSCEC and Real Estate were founded in June 2011, with Yang Yifeng as the legal representative. CSCEC and Jinan Xicheng Investment and Development Group Co., Ltd. hold 70% and 30% shares respectively.
Another Chongqing subsidiary of CSCEC was sued by the supplier for "failure to pay as agreed".
Back to July 19, 2019, Chongqing Yasuo Lighting Engineering Co., Ltd (hereinafter referred to as "Yasuo Lighting") and Chongqing Bahe Urban Construction Investment Co., Ltd. (hereinafter referred to as "Chongqing Bahe") signed the Contract for Lighting Project of Building 4 # of Phase I of CSCEC Yuhe City Project, agreeing that Chongqing Bahe will contract the lighting project of Building 4 # of Phase I of CSCEC Yuhe City to Yasuo Lighting; The contract price is in the form of lump sum, and the tax inclusive lump sum price of the contract is 449800 yuan.
Yasuo Lighting believes that it has completed all the works of the project according to the standards and time agreed in the contract, passed the acceptance of Chongqing Bahe, and has been delivered to the other party for use. Both parties handled final settlement on August 30, 2022, but Chongqing Bahe failed to make payment as agreed after settlement. Therefore, Yasuo Lighting sued to the court.
After hearing the case, the court held that although both parties agreed that the contract lump sum price was 449800 yuan, they also clearly agreed on the composition of the lump sum price by signing the contract annex "Contract Price List". The determination of the lump sum price was based on the combination of quantities clearly agreed by both parties. Now the actual construction quantities of both parties are less than the agreed quantities, that is, 52 sleeve lamps are less installed, so it is fair to deduct the price of the part not constructed according to the unit price and tax rate agreed by both parties, and it is in line with the contract. Therefore, the court confirmed that Chongqing Bahe should pay Yasuo Lighting a total project price of 426048.82 yuan (the deduction amount is 23751.18 yuan) according to the calculation method of lump sum price agreed by both parties in the Contract Price List.
Finally, the court ruled that Chongqing Bahe Urban Construction Investment Co., Ltd. paid Chongqing Yashuo Lighting Engineering Co., Ltd. 81236.38 yuan as the project fund, and paid the fund occupation interest calculated from September 20, 2022 to the date of paying off the arrears, taking 81236.38 as the base, according to the loan market quotation rate published by the National Interbank Funding Center.
According to Leju Finance, the predecessor of CSCEC and Hunan CSCEC Real Estate Co., Ltd. was established in June 2003 by integrating all the real estate resources within the Group of China Construction Fifth Engineering Bureau.
In terms of shareholder structure, CSCEC and CSCEC Fifth Engineering Bureau (hereinafter referred to as "CSCEC Fifth Engineering Bureau"), the Third Construction Company of CSCEC Fifth Engineering Bureau, CSCEC Fifth Engineering Bureau Civil Engineering Co., Ltd. and CSCEC Fifth Engineering Bureau Installation Engineering Co., Ltd. directly hold 47%, 27%, 18% and 8% shares respectively.
Through the equity chain, CSCEC and the Fifth Engineering Bureau ultimately hold 77.5% of the shares, while the rest are indirectly held by CCB, Bank of Communications and ICBC.
