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Written by: McKay
2020-11-08 15:16
Last update date: 2020-11-08 15:19
Cha Maosheng, chairman of Hong Kong Industrial, passed away at the age of 77.
In addition to being the father of Discovery Bay, Cha Maosheng is also very interested in the media industry.
In 2007, it entered Asia Television with as much as 1 billion yuan, but less than a year later, there was an equity crisis. Taiwan’s Want Want Group Chairman Cai Yanming was hired as the second largest shareholder, but because the other party was not a Hong Kong citizen, he could not become a major shareholder. Therefore, Wang Zheng, a mysterious businessman from the Mainland, was also found to be a shareholder. Cai Yanming publicly criticized the investigation for "cannibalizing enough people and deceiving people too much", and went to court, which also led to the beginning of ATV's decline.
He Zhuguo, chairman of Sing Tao News Group, supported Cai Yanming. He blew himself up when he cooperated with Cha Maosheng to buy shares in Sing Tao, but Cha temporarily changed his mind, and he wanted to buy Sing Tao alone.
After taking a stake in ATV, we promised to remain independent
ATV plans to prepare for listing in 2007. Mingli Group, chaired by Cha Maosheng, purchased 58.33% of the shares and became the largest shareholder of ATV. At that time, it claimed that its investment was as high as 1 billion yuan.
His unsuccessful shareholding has been accused of being a Chinese shareholding, but Cha Maosheng promised that ATV editors will remain independent, and finally the Executive Council and the Broadcasting Administration approved the shareholding change on June 5.
Cha Maosheng had hired Wang Zheng as the chairman of ATV, but was later defeated due to equity disputes.
Zhang Yonglin has a close relationship with Cha Maosheng and serves as an independent non-executive director of Hong Kong Industrial.
(Visual China)
Hired Zhang Yonglin and Wang Weiyi to ATV King and resigned on the 12th
Cha Maosheng took a lot of actions during his chairmanship. In 2008, Zhang Yonglin, the former vice chairman of PCCW in Hong Kong, and Wang Weiyi, founder of "Telecom Magic Boy" Urban Telecom, were recruited as executive chairman and chief executive officer of ATV, hoping to save ATV, which has been losing money for a long time. .
Unexpectedly, Wang Weiyi and Zhang Yonglin left after 12 days due to a "significant disagreement." Zhang Yonglin also resigned in 2009.
Neither of them was able to turn ATV back into profit.
Wang Weiyi was appointed as the chief executive officer of ATV by Maosheng in 2009, but resigned after 12 days.
(Photo by Ou Jiale)
Cha Maosheng's introduction of Wang Zheng into ATV and Cai Yanming's involvement in shareholder disputes is the prelude to ATV's decline.
(Visual China)
Use convertible bonds to attract Wang Zheng to buy shares in disguised form to dilute Cai Yanming's equity
Cai Yanming, the founder of Want Want Taiwan, was invited by Cha Maosheng in 2009 to buy a stake in ATV for 300 to 500 million yuan.
Cha Maosheng plans to arrange for Cai Yanming to become the largest shareholder of ATV. However, the "TV and Sound Broadcasting Ordinance" stipulates that the shareholders of free TV licensees must be Hong Kong permanent residents. As a result Cha Maosheng recruited mainland businessman Wang Zheng under the introduction of Zhang Yonglin .
At that time, ATV was already in financial difficulties. In order to get out of it, Cha Maosheng used convertible bonds and shareholder loan investments to attract Wang Zheng to buy shares, but this would dilute Cai Yanming’s equity and make Cai Yanming the largest shareholder. The two then went to court.
Tsai Yanming transfers ATV's "one thing, two sales" and signs with Wang Zheng on his own
Cai Yanming held a press conference on the incident in Hong Kong, and in Taiwanese angrily criticized Cha Mao's voice as "cannibalizing enough" and "deception too much."
He also issued a statement saying that Cha Maosheng had signed a letter of intent with himself for the transfer of shares in 2009 in order to withdraw from ATV's "one thing, two sales", but in 2010 he signed a sale and purchase agreement with Wang Zheng.
In the end, the court issued an injunction to Cha Maosheng on July 29, 2010, prohibiting him from selling nearly 48% of ATV's shares held jointly with Cai Yanming.
In fact, Cha Maosheng had already signed a letter of intent with Wang Zheng in April. Wang Zheng was willing to assume all the responsibilities that Cai Yanming held against Cha Maosheng and successfully escaped.
Then today I will also tell Mr. Cha Maosheng that according to our Taiwanese teaching, he is "cannibalizing enough", which means deceiving people too much.
It is him who will withdraw from ATV today, not me. Then whoever loves ATV more and who is more optimistic about the future of ATV.
Cai Yanming, March 8, 2010
Cha Maosheng Payson Cha, is a friend 嚟㗎.
I am not attacking him, I want to thank him so much.
I have this opportunity. When I buy Sing Tao, I will be able to achieve success. Today, Sing Tao has achieved success.
I'm not revenge. People say "It's not too late for a gentleman to revenge for ten years." I'm not a gentleman, I'm a villain!
……Credit is so bad, it doesn’t matter if the offspring don’t recognize the number, he is now a few dozen years old, but he still often thinks he is offspring.
March 8, 2010, He Zhuguo
He Zhuguo, chairman of Sing Tao News Group, appeared at Cai Yanming's press conference in 2010, claiming that "Thank you" Cha Maosheng so that he could buy Sing Tao on his own.
(Information Picture / Photo by Lu Yiming)
He Zhuguo supports Cai Yanming and explodes and Cha Maosheng speaks against each other
In the equity dispute between Cha Maosheng and Cai Yanming, He Zhuguo went to the press conference to support Cai Yanming.
During the dinner, He Dao broke that Cha Maosheng had agreed to take Mingli Group into a stake in Sing Tao, but he finally retreated, and he decided to buy Sing Tao on his own. "Sing Tao is a success today, so I am very grateful to Cha Sheng."
He Zhuguo even responded to "cannibalism" at the press conference, saying, "If you are unfamiliar with life, it is because Mr. Cha speaks well. I am not as good as others. I am so direct." He said that he did not know Cai Yanming. I chose the platform of Cai, because I don't want the outside world to think that Hong Kong people are deceiving Taiwanese.
▼Cha Maosheng attended Ocean Park activities in 2017▼
▼Report of Cha Mao shot in 1979▼
▼Discovery Bay▼
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▼Cha Maosheng Deep Water Bay Mansion Site▼
News: "Father of Discovery Bay" Cha Maosheng died of cancer recurrence at the age of 77 and was shot in his early life
It is reported that the chairman of Hong Kong Industrial, Cha Maosheng, recurrence of pancreatic cancer, is critically ill. Reply from the company: No comment
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Cha Maosheng, Asian Television (Lady TV) Wangwang Sing Tao Daily He Zhuguo
