Chen Xinyou, the hottest old man of Dongfang Elect

On the evening of January 9, the Sichuan Provincial Commission for Discipline Inspection and Supervision issued a notice that Chen Xin, Secretary of the Party group and director of the Sichuan Provincial Department of economy and information technology, was suspected of serious violations of discipline and law, and is currently under disciplinary review and supervision and investigation. Securities Times · e company noted that Chen Xinyou had held an important position in Dongfang Electric for a long time, and had worked in the company for 26 years; After that, Chen Xinyou was promoted to mayor of Deyang and moved to the Sichuan Provincial Department of economy and information technology, where he became an official at the main hall level

as a large state-owned enterprise, Dongfang Electric Group has been subject to review and investigation for several senior executives suspected of serious violations in recent years, including an Hui, the former chief economist of Dongfang Electric Group Co., Ltd., Zhang Tiande, the former deputy general manager of Dongfang Electric Machinery Co., Ltd. of Dongfang Electric Group, and others

it is worth noting that in June 2018, the National Audit Office audited the financial revenue and expenditure of Dongfang Electric Group in 2016. The audit office found that 6. Power off Dongfang Electric Group and its affiliated enterprises had 11 economic management problems, involving a total amount of 6.5 billion yuan

senior executives once received 2.54 million yuan through post disaster reconstruction

from the perspective of life experience, Chen Xinyou was born in October 1961 and officially began to work in August 1982

then, Chen Xinyou embarked on an official career and served as Deputy Secretary of Deyang Municipal Party committee and acting mayor from May 2008 to January 2009; From January 2009 to April 2015, he served as deputy secretary and mayor of Deyang Municipal Party committee. From April 2015 to November 2018, Chen Xinyou was transferred to the post of secretary and director of the leading Party group of Sichuan Provincial Economic and Information Technology Commission and director of the Provincial Bureau of small and medium-sized enterprises; From November 2018 to now, he has served as secretary of the leading Party group and director of the Department of economy and information technology of Sichuan Province

according to the notification of the Sichuan Provincial Commission for Discipline Inspection and supervision, Chen Xin is suspected of serious violations of discipline and law, and is currently undergoing disciplinary review and supervision investigation

securities times · e company noticed that just two days before Chen Xinyou was investigated, a senior executive of Dongfang Electric Group also suffered similar "treatment"

on January 7, the Sichuan Provincial Commission for Discipline Inspection and Supervision issued a notice that He Wei, the former deputy general manager of the import, export, storage and Transportation Department of Dongfang Electric Group International Cooperation Co., Ltd., was suspected of serious violations of discipline and law. At present, the discipline inspection and supervision team of Dongfang Electric Group is conducting a disciplinary review on him, and Dujiangyan Supervision Commission is conducting a supervision and investigation on him. According to the data, He Wei joined Dongfang Electric Group in July, 1992

dating back to September 2018, the Sichuan Provincial Commission for Discipline Inspection and Supervision issued a notice that an Hui, the former chief economist of Dongfang Electric Group Wind Power Co., Ltd., was suspected of serious violations of the law. At present, Mianyang Municipal Supervision Commission is supervising and investigating an Hui

in addition to the above personnel, Zhang Tiande, the former executive deputy general manager of Dongfang Electric Machinery Co., Ltd., Li Jun, the assistant general manager, and Zhang Shengping, the former assistant general manager of Dongfang Turbine Company of Dongfang Electric Group, were successively investigated

through the relevant judgment, securities times · e company found that Xiao Min, the former general manager of the power electronics and control division of Dongfang Electric Group, was approved to be arrested by the Sichuan Provincial People's Procuratorate in May 2016

the people's Procuratorate of Pidu District, Chengdu charged that from 2007 to 201, the defendant Xiao Min used his position as the deputy general manager of Dongfang turbine Co., Ltd. of Dongfang Electric Group to provide assistance to others in charge of equipment procurement and the reconstruction of Dongfang turbine Co., Ltd. after the Wenchuan earthquake, and successively received 2.54 million yuan of benefit fees for their consumption

11 economic management issues

involving an amount of 6.5 billion yuan

according to public information, Dongfang Electric Group was founded in 1958, mainly engaged in the manufacturing of large-scale complete power generation equipment, power station engineering contracting, environmental protection and energy-saving equipment manufacturing and trade

in September 2018, Dongfang Electric Group held a typical case warning education conference, informing the ten typical cases investigated and dealt with by Dongfang Electric Group

the conference pointed out that Dongfang Electric Group began to focus on centralized public bidding procurement, outsourcing and outsourcing, and the establishment of group and enterprise level bidding and procurement centers to resolutely curb the frequent corruption in the field of material procurement and outsourcing. Over the past three years, Dongfang Electric Group has saved 4.363 billion yuan in procurement costs

however, on June 20, 2018, the official website of the National Audit Office announced that from May to June 2017, the Audit Office audited the financial revenue and expenditure of Dongfang Electric Group in 2016

securities times · e company noted that the National Audit Office focused on auditing the headquarters of Dongfang Electric Group and three secondary units, including Dongfang Electric (600875) and Dongfang Electric Group International Cooperation Co., Ltd. (hereinafter referred to as Guohe company), and extended and traced relevant matters. The audit office found that Dongfang Electric Group and its affiliated enterprises had 11 economic management problems, involving a total amount of 6.5 billion yuan

according to the financial management and accounting in 2016, the National Audit Office announced that Dongfang Electric Wind Power Co., Ltd., affiliated to Dongfang Electric Group, did not recognize the revenue and cost of wind turbines as required, resulting in an extra profit of 25.51 million yuan; The affiliated Dongfang Electric Machinery Co., Ltd. (hereinafter referred to as Dongfang Electric Machinery) did not increase the state-owned capital by 24.94 million yuan as required; Dongfang turbine Co., Ltd. of Dongfang Electric Group, which belongs to Dongfang turbine Co., Ltd., did not apportion the cost difference of civil aircraft aluminum localization materials belonging to the current period, and the extra cost was 23.388 million yuan

the impairment of

projects caused by ineffective risk prevention exceeded 3 billion yuan

in terms of operation and management, the National Audit Office announced that its specific responsibility from 2006 to February was to review the overall deployment and important plans to promote the development of the new material industry. In 2016, the headquarters of Dongfang Electric Group and its two affiliated enterprises formed losses on the investment of three projects because they did not effectively prevent risks such as market and investment management, and an impairment provision of 3.16 billion yuan had been withdrawn by the end of 2017

from 2003 to 2016, Dongfang Electric Group headquarters and its two affiliated enterprises purchased fixed assets in violation of internal decision-making procedures, involving an amount of 2.398 billion yuan; From 2008 to 2016, the affiliated engineering branch failed to report 10 litigation matters as required, involving an amount of 411 million yuan

problems involving an amount of more than 100 million yuan also include: the four supply projects contracted by Dongfang Electric in the previous year faced losses due to inadequate contract risk control and other related inventories and receivables, and the impairment provision of 291million yuan had been withdrawn by the time of audit; By the end of 2016, Emei semiconductor materials research institute and Dongfang Electric (Guangzhou) Heavy Machinery Co., Ltd. had overstocked materials and idle funds due to unreasonable procurement plans and project stagnation, involving 139 million yuan of funds; In 2011, the affiliated Dongfang Electric Group Dongqi Investment Development Co., Ltd. sold products without due diligence. Later, due to the inability of customers to pay, the payment for goods of 30.39 million yuan was not recovered, and the bad debt provision was fully accrued in 2014

securities times · e company noted that in April 2010, Dongfang Electric group used 20.8407 million yuan to purchase 27 commercial houses and parking spaces in addition to the annual investment plan, which were idle for a long time until the audit. From 2013 to 2016, Dongfang Hitachi (Chengdu) electric control equipment Co., Ltd., a subsidiary of the group, illegally paid an agency fee of 8.1898 million yuan to external enterprises that did not provide relevant services

from the perspective of listed companies, 2016 was indeed a very difficult period for Dongfang Electric's business performance. In that year, the listed company achieved an operating revenue of 33.3 billion yuan, a year-on-year decrease of 7.59%; Net profit is a rare loss of 1.78 billion yuan; After deducting non recurring profits and losses, Dongfang Electric lost 1.98 billion yuan in net profit

the reason is that Dongfang Electric said that due to the reduced demand of the power generation equipment industry, the product price fell, resulting in a decrease in gross profit in 2016 compared with the previous year; Another important factor is that the wind power contract undertaken by Dongfang Electric in the early stage produced large losses, and the aging of accounts receivable increased, resulting in an increase in bad debt reserves for accounts receivable accrued in 2016; We will implement the "de capacity and de inventory", strengthen the cleaning up of inventory, and accrue depreciation reserves, which is higher than that of the previous year

source of this article: Securities Times: Yang Bin_ nf4368