上海千亿巨头暴雷！实控人跑路日本，员工被迫离职

Core Viewpoint - Junhe Group, once a prominent player in China's top 500 companies with annual revenues nearing 100 billion yuan, is facing severe operational difficulties, including wage arrears, layoffs, and legal troubles, leading to a rapid decline in its business standing [5][6][11]. Group 1: Operational Issues - Junhe Group began experiencing problems in mid-2024, starting with delayed salary payments and the cancellation of performance bonuses, eventually leading to long-term wage arrears [8]. - In June, multiple employees received layoff notices, with conditions that those who agreed to leave would receive their salaries and social security payments up to May 31, while those who refused would face salary stoppage and social security discontinuation from June [8]. - The company has faced investigations and project shutdowns across various locations, with Shanghai police initiating a criminal investigation [9]. - As of July, Junhe Group and its actual controller, He Qi, owed a total of 536,400 yuan in corporate and personal income taxes, indicating potential financial distress [9]. Group 2: Legal and Financial Troubles - Junhe Group has been listed as a defendant in 23 legal cases, with total amounts involved reaching 24.619 billion yuan, and its equity in seven affiliated companies has been frozen [10]. - The company has been marked with numerous legal and financial warnings, reflecting its precarious situation [10][24]. Group 3: Leadership and Historical Context - He Qi, the company's key figure, has reportedly been living in Japan for at least two years, raising concerns among employees about his absence and the company's direction [16]. - Junhe Group was founded in 2003 and initially thrived in the steel trading sector, later expanding into finance and other industries, achieving significant revenue growth and recognition [17][19]. - By 2018, Junhe Group entered the Fortune China 500 list, boasting revenues close to 100 billion yuan, surpassing well-known companies like Shimao and Moutai [18]. Group 4: Business Model Scrutiny - The company's business model, which combines bulk trading with industrial park development, has come under scrutiny, with allegations of inflated revenues through non-actual transactions [21]. - Junhe Group has publicly clarified its operations, asserting that its bulk commodity trading involves genuine flows of goods, funds, invoices, and contracts, denying involvement in any public-private partnership projects [22]. Group 5: Broader Industry Implications - The situation of Junhe Group mirrors that of other companies like Xuesong Holdings and Zhengwei Group, which have also faced crises after following high-leverage and trade-based expansion strategies, leading to rapid collapses when credit tightened [26].