EASYHOME(SZ:000785) Sou Hu Cai Jing·2025-07-29 12:25Core Viewpoint - The tragic death of Wang Linpeng, the actual controller and chairman of Juran Zhijia, raises questions about the circumstances surrounding his demise, particularly in relation to the controversial backdoor listing of the company and the subsequent fall of several high-ranking officials in Hubei [1][4][8]. Company Summary - Wang Linpeng, the founder and actual controller of Juran Zhijia, passed away on July 27, 2025, shortly after being released from a three-month detention investigation [1][5]. - Juran Zhijia's backdoor listing through Wuhan Zhongshang in 2019 was marked by significant controversy, including allegations of state asset loss and rapid dilution of state-owned shares [6][8]. - The backdoor listing transaction was valued at 356.5 billion yuan, with Wuhan Zhongshang's market value at only 15 billion yuan at the time, leading to claims of it being one of the most bizarre transactions in Chinese commercial history [6][7]. - Following the listing, Wang Linpeng's companies cashed out approximately 5.2 billion yuan, with Wang personally benefiting close to 5 billion yuan [7]. Industry Context - The backdoor listing of Juran Zhijia has been scrutinized for its implications on state-owned asset management, particularly as multiple Hubei officials involved in the process have since been investigated and removed from their positions due to corruption allegations [8][10][11]. - The performance of Juran Zhijia post-listing has also been questioned, as the company failed to meet its profit commitments, triggering compensation mechanisms that raised further concerns about potential conflicts of interest [7].