全身而退！北京一家5口完美套现24亿，临走前又坑了甘肃国资一把

Core Viewpoint - The company Shihang High-Tech, a leading player in the energy sector, has officially exited the A-share market after 12 years, resulting in significant losses for shareholders, while the Huang family behind the company managed to cash out 2.4 billion yuan before the collapse [1][28]. Group 1: Company History and Growth - The Huang family started with a small business selling plumbing parts and later expanded into hardware and electrical trading, eventually founding Shihang in 1997 [3]. - From 2001 to 2006, the family capitalized on the growth of the power industry, expanding into ventilation equipment and breaking foreign technology monopolies, achieving a market share of 22% at their peak [5][6]. - Shihang went public in 2012, raising 1 billion yuan and reaching a market valuation of over 25 billion yuan, marking a significant turnaround for the Huang family [8]. Group 2: Decline and Mismanagement - The company's fortunes declined after 2015 due to a shift towards clean energy, leading to a total loss of over 1.6 billion yuan from 2020 to 2023 and 1.264 billion yuan over its entire listing period [10][12]. - The Huang family attempted to pivot the business towards capital-intensive projects like solar thermal power and seawater desalination, which ultimately failed and drained financial resources [12][13]. - By 2024, the company's stock price fell below 1 yuan, triggering mandatory delisting procedures, culminating in its removal from the stock market in August [26]. Group 3: Financial Manipulation and Exit Strategy - The Huang family began cashing out shortly after the IPO, pledging over 90% of their shares for loans and later selling shares worth 1.06 billion yuan despite the company's declining performance [17][19]. - In 2019, as the company neared bankruptcy, the family sold 251 million shares to a rescue fund for 972 million yuan, effectively using the fund as a final exit strategy [19][30]. - The family maintained control over the company by modifying governance structures and increasing executive compensation, even during periods of significant losses [22][24]. Group 4: Consequences and Regulatory Response - The fallout from the company's collapse left 140,000 shareholders with substantial losses, while the rescue fund's investment became nearly worthless [28]. - The Huang family, having extracted 2.4 billion yuan, faced minimal penalties, with regulatory actions deemed insufficient compared to their financial gains [30][31]. - The case highlights the need for a fair and just market environment to protect investors and uphold ethical standards in capital markets [33].