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*ST Kexin (600234) disclosed on the evening of July 30 that Kexin Industrial transferred 99% of the shares of Kexin Holdings, the company's controlling shareholder, to Lian Zongsheng for a transaction price of 200 million yuan.

After the above transaction, Lian Zongsheng indirectly holds 22.88% of *ST Kexin's shares through Kexin Holdings, and indirectly holds 10.35% of *ST Kexin's shares through Shenzhen Qianhai Paide Goldman Sachs Investment Partnership (Limited Partnership) (hereinafter referred to as "Paide Goldman Sachs"), and indirectly holds 33.23% of the shares in total. The actual controller of the listed company will be changed from Huang Shaojia to Lian Zongsheng. On July 30, the industrial and commercial change procedures related to the above equity transfer have been completed.

(Photo from the Shenzhen Chaoshan Youth Chamber of Commerce website)

Securities Times e-company reporter found through comprehensive information from multiple sources that Lian Zongsheng is only 31 years old and is the executive vice president of Shenzhen Chaoshan Youth Chamber of Commerce.Backed by the Chaoshan capital giant Lian family, he is considered by the outside world to be a leader in the new generation of Chaoshan venture capital. Many years ago, the Lian family indirectly caused a huge stir in Shanshui Culture, the predecessor of *ST Kexin, and successfully took over Dawei Shares (002213) in 2020.

It is worth mentioning that in a visit and exchange activity held by Shenzhen Chaochuang Association (with Ma Huateng as honorary president) in mid-July, Lian Zongsheng was already called the actual controller of *ST Kexin.

*ST Kexin’s announcement shows that the first eight digits of Lian Zongsheng’s ID card are “44030119” and his residence is in Futian District, Shenzhen. Judging from his ID card, Lian Zongsheng is a Shenzhen native.

At present, *ST Kexin's second largest shareholder, Paide Goldman Sachs, is a person acting in concert with Lian Zongsheng. At the end of August 2023, Shenzhen Yisheng Heyuan Industrial Co., Ltd. (hereinafter referred to as "Yisheng Industrial"), Zhou Houshan, Kexin Holdings and Chen Fuxing signed a relevant agreement. Kexin Holdings and Chen Fuxing transferred a total of 100% of Paide Goldman Sachs' property shares to Yisheng Industrial and Zhou Houshan. The total transaction price is 181 million yuan. After the transaction, Yisheng Industrial holds 99% of Paide Goldman Sachs' property shares and becomes a general partner, and Zhou Houshan holds 1% of Paide Goldman Sachs' property shares and becomes a limited partner.

Qichacha shows that Lian Zongsheng and Zhou Houshan hold 99% and 1% of Yisheng Industrial's shares respectively.According to the equity change book disclosed by Yisheng Industrial at that time, Lian Zongsheng held important positions in many venture capital companies, including the vice chairman and director of Shenzhen Hongtu Great Wall Zhongtong Equity Investment Management Co., Ltd. (hereinafter referred to as "Hongtu Great Wall Fund"), the executive partner of Gongqingcheng Zhonglian Shengyuan Investment Partnership (Limited Partnership), the executive director and general manager of Yisheng (Guangdong) Venture Capital Fund, the executive partner of Gongqingcheng Yisheng Investment Partnership (Limited Partnership), and the executive director and general manager of Shenzhen Zhongtong Shengyuan Investment Development Co., Ltd. (hereinafter referred to as "Zhongtong Shengyuan").

A media report cited by the Shenzhen Chaoshan Youth Chamber of Commerce in September 2021 stated that Lian Zongsheng came from a Chaoshan merchant family and was a leader in the new generation of Chaoshan venture capital. In 2016, Lian Zongsheng, who had just graduated from the University of Washington in the United States and returned to China, joined Shenzhen Capital Group and started his venture capital career. When the Shenzhen-level military-civilian integration fund, Red Soil Great Wall Fund, was established by Shenzhen Capital Group, Lian Zongsheng was a member of the founding team and held an important position.

The above report stated that Ruichuang Micronano (688002), one of the first companies listed on the Science and Technology Innovation Board, was the first IPO project in which Lian Zongsheng participated. "Lian Zongsheng has been in the industry for four years and has led more than 10 investment projects with a total investment amount of nearly 1 billion yuan. Five projects have achieved IPO, and the IRR is as high as 66.4%."

In October 2021, Hurun Research Institute released the "2021 Hurun U30 Chinese Entrepreneurship Leaders". Lian Zongsheng, as the chairman of Yisheng Venture Capital, was listed at the age of 28. According to this estimate, Lian Zongsheng was born in 1993 and is 31 years old this year.

(Photo courtesy of Hurun Report WeChat account)

The reporter noticed that behind Lian Zongsheng stood the Lian family.

On July 15 this year, Shenzhen Chaochuang Association issued a statement saying that its co-chairman Chen Feng and others led a team to visit and exchange ideas at the Yantian ZTO Modern Logistics Park (hereinafter referred to as "ZTO Modern Logistics Park") under Lian Zongsheng.

According to public information, Zhongtong Modern Logistics Park is affiliated to Shenzhen Zhongtong Investment Development Co., Ltd. (hereinafter referred to as "Zhongtong Investment"). Zhongtong Investment has four major sectors: real estate development, warehousing and logistics, supply chain finance, and financial investment. The company's official website states that its real estate business focuses on large-scale urban complexes and top urban luxury housing projects.

According to Qichacha, Zhongtong Investment is held by Lian Zonghao and Lian Zongzhu with 95% and 5% shares respectively. Lin Xingchun was once the controlling shareholder of Zhongtong Investment and is currently the general manager of the company. In the "Chairman's Speech" section of the company's official website, the signatory is Lian Zhuoming. Lin Xingchun is Lian Zhuoming's wife.

Interestingly, the Lian family had been associated with *ST Kexin for a long time. In February 2016, *ST Kexin's predecessor, Shanshui Culture, received an inquiry letter from the Shanghai Stock Exchange. The Shanghai Stock Exchange said that during its supervision, it found that among the company's top 10 shareholders, Zhong Ansheng, Zheng Junjie, Lian Miaolin, Lian Miaochun, Hou Wuhong, Zhong Zitao and other 6 people (who held a total of 22.34% of the shares at the time) were suspected of being persons acting in concert, and listed a number of doubts, requiring the company to submit a written explanation.

At that time, many media reported that many of the above six people were related to the Lian family, and some were even members of the Lian family.

After that, Zhong Ansheng and five others (excluding Zhong Zitao) admitted that they had a concerted action relationship, but did not clarify their relationship with the Lian family. As of February 17, 2016, the five people held a total of 36.5218 million shares of Shanshui Culture, accounting for 18.04% of the shares, becoming the company's largest shareholder. In January 2019, the five people signed an agreement to terminate their concerted action relationship. However, due to the joint investment and joint employment relationship between Zhong Ansheng and Zheng Junjie, the two still constitute a concerted action relationship. Hou Wuhong and Lian Miaolin are husband and wife, and Lian Miaochun and Lian Miaolin used the same Internet device to purchase the company's stocks, and the three still constitute a concerted action relationship. As of the end of the first quarter of this year, the above five people were still on the list of the top ten shareholders of *ST Kexin.

The Lian family’s involvement in the capital market does not stop there.

In July 2016, a company named Shenzhen Chuangtong Kerry Investment Partnership (Limited Partnership) (hereinafter referred to as "Chuangtong Kerry") agreed to acquire 15 million shares of Teljia, the predecessor of Dawei Shares, and became a shareholder of the company with a shareholding of more than 5%. Since then, Chuangtong Kerry has continued to increase its holdings. By September 20, 2016, its shareholding increased to 30 million shares, accounting for 14.56%, becoming the largest shareholder of the listed company. Chuangtong Kerry later transferred its holdings to Shenzhen Chuangtong Investment (hereinafter referred to as "Chuangtong Investment"), a person acting in concert.

On June 29, 2020, Dawei Holdings announced that Chuangtong Investment had become the controlling shareholder of the company because the directors recommended by Chuangtong Investment had obtained the majority of seats on the company's board of directors. Lian Zongmin Holdings, the controlling shareholder of Chuangtong Jiali, thus became the actual controller of the listed company.

Lian Zongmin was born in 1988 and has held important positions in many companies, such as being a director of Shenzhen Baifuxin Logistics (hereinafter referred to as "Baifu Logistics") since November 2015. The list of senior executives of Baifu Logistics includes a number of Lian family members, including Lin Xingchun and Lian Zonghao.

NetEase Qingliu reported that Lian Zongmin is the daughter of Lian Zhuoming. In July this year, Lian Zongmin included Lian Zonghao as his joint actor. The announcement shows that Lian Zonghao is her younger brother and has served as assistant to the chairman of Dawei Shares (Lian Zongmin) since September 2023.

The article published by Shenzhen Chaochuanghui on July 15 further proved the connection between Lian Zongmin, Lian Zongsheng and the Lian family, saying: "(Zhongtong Investment) owns) listed companies including Dawei Shares and Lian Zongsheng-controlled listed company Kexin Development." The statement here is a bit strange. Because before July 30, the actual controller of *ST Kexin was not Lian Zongsheng.

In 2021, when Lian Zongsheng was interviewed by the media, he arranged the interview location in a simple and elegant office building in Shenzhen. At that time, Lian Zongsheng told the media that the place was a listed company that he actually controlled. "Under his creation, the company has successfully transformed from its original traditional field to the emerging new energy and communication service fields, and soon became a well-known high-tech enterprise in the industry." The media said at the time.

It is unknown which listed company Lian Zongsheng is referring to.

Editor: Peng Bo

Proofreading: Zhu Tianting