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金玉满堂袖唐,揭开多彩生活的面纱,感受艺术与美味的完美结合

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香港特别行政区
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临夏回族自治州(和政县、广河县、积石山保安族东乡族撒拉族自治县、康乐县、永靖县、临夏市、东乡族自治县、临夏县)
铜陵市(义安区、郊区、枞阳县、铜官区)








铜仁市(石阡县、万山区、碧江区、思南县、印江土家族苗族自治县、玉屏侗族自治县、德江县、沿河土家族自治县、松桃苗族自治县、江口县)
济源市
山南市(琼结县、曲松县、措美县、隆子县、贡嘎县、洛扎县、浪卡子县、加查县、错那市、扎囊县、乃东区、桑日县)
伊春市(铁力市、友好区、金林区、伊美区、嘉荫县、汤旺县、大箐山县、丰林县、南岔县、乌翠区)
天津市(红桥区、静海区、宝坻区、南开区、津南区、和平区、东丽区、河北区、滨海新区、宁河区、蓟州区、北辰区、武清区、河西区、河东区、西青区)
福州市(福清市、平潭县、闽清县、仓山区、连江县、罗源县、台江区、永泰县、晋安区、长乐区、马尾区、闽侯县、鼓楼区)
东莞市
黄南藏族自治州(尖扎县、河南蒙古族自治县、同仁市、泽库县)
焦作市(山阳区、温县、沁阳市、解放区、中站区、马村区、博爱县、孟州市、修武县、武陟县)

  2025年4月23日,扬州天富龙集团股份有限公司(以下简称“天富龙”)将要上会。天富龙冲刺IPO的背后,不仅是实控人家族的财富扩张史,也是一张由环保隐患、财务依赖和治理漏洞编织的风险网络。

  实控人家族“掏空术”:5.4亿元套现与93.9%绝对控制权

  天富龙成立于2009年,是一家高新技术企业,主要业务为差别化涤纶短纤维的研发、制造与销售,旗下拥有再生有色涤纶短纤维和差别化复合纤维两大系列产品。

  朱氏家族通过复杂的股权设计和资本运作,构建了一个高度封闭的商业帝国。实控人朱大庆、陈慧夫妇直接持股79.3%,通过与侄子朱兴荣的一致行动协议,实际控制公司93.9%的表决权。

  董事会9席中,朱氏家族占据3席(朱大庆、朱兴荣、女儿陈雪),其余6名董事均由家族提名,形成“一言堂”决策结构。

  更值得警惕的是,朱氏家族在IPO前夕通过资产重组完成巨额套现。2020年,朱大庆将旗下威英化纤以2.43亿元卖给天富龙,而此前两个月该子公司突击分红3亿元流入家族口袋。这一操作使朱氏家族套现5.43亿元。

  此外,公司并通过个人账户代发员工年终奖1800万元,暴露内控缺陷。

  募资合理性悖论:账上7.6亿现金为何再募7.9亿?

  天富龙的原料采购体系存在重大隐患:再生PET原料90%以上依赖个体工商户,2024年上半年个体户采购占比升至27.54%。2021年到2024年上半年,个体户采购金额分别为6,909万元、5,603万元、7,496万元和4,578万元,占再生PET原料采购总额的20%左右,2024年上半年更高达27.54%。

  天富龙预付款项异常暴增,2021年至2024年上半年,预付款项分别为2,449万元、2,579万元、2,216万元和2,610万元。公司解释称,这些预付款项主要用于向供应商支付原料定金。问题是,是否也向个体户支付预付款?

  截至2024年底,天富龙账面货币资金7.6亿元,资产负债率仅10.32%,流动比率6.85,有息负债基本为0。公司此前突击分红3亿元,与募资行为形成矛盾。 

  更蹊跷的是,天富龙曾计划募资10.9亿元,但在问询压力下砍掉3亿元补流项目,暴露随意性。

  注:本文创作借助AI工具收集整理市场数据和行业信息,结合辅助观点分析和撰写成文。

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