Recently, star Zheng Shuang was reported to have claimed $160 million in remuneration for filming the costume drama “Sinister” (now renamed “Only Ask This Life to Love Cangming”) in 2019, and evaded the salary limit order and tax evasion of the relevant authorities by splitting the yin-yang contract. According to the relevant regulations, actors’ remuneration exceeds the limit and the drama may face permanent cancellation of broadcast.
The data of Sky Eye Search App shows that the star Zheng Shuang, who is suspected of tax evasion through shady contracts, actually controls 16 companies. The reporter of Beijing Youth Daily investigated and found that 7 of them have Zheng Shuang as the legal representative of the company. The company’s shares were frozen by the court for 1.25 million yuan.
The company’s registered capital is 1 million yuan, and the companies are Shanghai Kagu Entertainment Development Co.
As for the companies in which Zheng Shuang serves as a shareholder, there are currently 10, of which the highest registered capital is Shanghai Whale Valley Seat Artificial Intelligence Technology Co., Ltd (hereinafter referred to as Whale Valley Seat), which it co-invested with her boyfriend Zhang Heng in 2018, with a registered capital of RMB 20 million, mainly engaged in artificial intelligence application software development, big data, cultural and sports entertainment activities and brokerage agency services. Zheng Shuang is the first major shareholder and suspected beneficial owner of the company, with a subscription amount of 13.6 million yuan and 68% shareholding; Zhang Heng has a subscription of 6.4 million yuan and 32% shareholding.
In early 2019, Whale Valley Seat created its subsidiary Shanghai Whale Goody Artificial Intelligence Technology Company Limited (hereinafter referred to as Whale Goody) with a registered capital of 10 million yuan and legal representative Zhang Heng.
In early 2020, due to a loan dispute, Zheng Shuang sued Zhang Heng to court. The case was accepted by Shanghai Jing’an District People’s Court, and in August and September, Whale Boy was listed as a defaulting executor for “refusing to fulfill its obligations as determined by the effective legal documents despite its ability to do so”, and the legal representative Zhang Heng was restricted from spending money. On January 19 this year, the case was heard in the second trial of Shanghai Second Intermediate People’s Court, but Zheng Shuang and Zhang Heng did not show up.
Ltd. was established on April 11, 2006, with a registered capital of 6.25 million yuan, Zheng Shuang subscribed 1.25 million yuan, holding 20% of the shares, and is the second largest shareholder. The company’s business scope is computer software and hardware technology development, technical consulting, etc. However, the national enterprise credit disclosure system sponsored by the National Market Supervision Administration shows that Zheng Shuang’s 1.25 million yuan was frozen by the Shanghai Songjiang District People’s Court on March 17 this year, and the freezing period is until March 16, 2024.
Zheng Shuang’s two studios in Shanghai and three enterprises in Jiujiang have been cancelled
Beiqing News reporter through the national enterprise credit information public system can also find out that Zheng Shuang as an investor to personal property contribution in July 5, 2016 established the Shanghai jumping yao film and television culture studio. What is surprising is that the company was founded just one month ago and was cancelled on August 4 for other reasons.
The registered address of Shanghai Zheng Shuang Film and Culture Studio is No. 212, Lane 425, Fuyong Road, Songjiang District, Shanghai, just like Shanghai Jumping Bright Film and Culture Studio. Zheng Shuang’s studio was established on December 2, 2013 and survived until November 23, 2017 when it was cancelled. The reason for cancellation is other reasons.
No. 212, Lane 425, Fuyong Road, Songjiang District, Shanghai is the location of Cangcheng Film and Culture Industrial Park. When the reporter of Beiqing News asked whether the identity of the screenwriter could register the studio, the staff member of the investment department surnamed Ma suggested that it was best to register in the name of the company.
The staff member surnamed Ma introduced that Cangcheng Film and Television Cultural Industrial Park is under the jurisdiction of the street office and has been established for ten years, with nearly 7,000 film and television cultural companies registered here.” We do not rely on the collection of related business registration fees used to make a profit, but can not provide the actual address of the business premises. Most companies here corporate business license registration and the actual office space are separate.”
Ma surnamed staff introduced, registered companies in the industrial park, in addition to enjoy the previous return of 25% of the amount of business tax paid by the company, income tax 16% and other tax rebate policy, now you can also enjoy personal income tax rebate of 17%.
In addition to Shanghai, Zheng Shuang also opened three companies (studios) in Jiujiang, Jiangxi Province, namely Jiujiang Flock Effect Film and Culture Studio, Jiujiang Zheng Shuang Film and Culture Co.
The legal representative of Jiujiang Zheng Shuang Film and Culture Co., Ltd. is Zheng Chenghua, Zheng Shuang’s father, while Zheng Shuang contributes 6.8 million yuan in the name of natural shareholders. The company was established on June 6, 2017, and was cancelled on November 5, 2019, for the reason of resolution of dissolution. Jiujiang cool bear film and television culture studio and Jiujiang flock “living next to each other”, twice more leather registered address, both in November 28, 2017 cancellation.
Actor’s remuneration over the limit plays may be permanently canceled broadcast
On April 19, 2019, the TV Production Committee of the China Radio, Film and Television Federation of Social Organizations issued a notice on the strict implementation of the regulations on the allocation ratio of production costs for TV network dramas, requiring practitioners to strictly implement the salary limit policy, with the total remuneration of all actors not exceeding 40% of the total production cost, of which the main actors shall not exceed 70% of the total remuneration.
The notice also points out that if the situation of film remuneration does not comply with the provisions and without justifiable reasons or concealment, the association must report to the State Administration of Radio and Television, depending on the circumstances, the suspension until the permanent cancellation of the play broadcast, production qualifications and other punitive measures.
Concerned about Zheng Shuang’s “sky-high salary” contributor’s stock suspension and change to “ST North”
It is understood that “Sinister” investor Beijing Century Partners Culture Media Co., Ltd. was once a wholly-owned subsidiary of Beijing Culture, April 28, 2020, Beijing Culture to 48 million yuan to transfer 100% of the equity of Century Partners.
Late on April 29, 2021, Beijing Culture issued an announcement that the company’s stock will be suspended for one day on Friday, April 30 and resume trading on May 6, 2021 due to the issuance of an Internal Control Audit Report with an adverse opinion by an accounting firm. In addition, the company’s shares will be subject to “Other Risk Warning” from May 6, and the stock abbreviation will be changed from “Beijing Culture” to “ST Beiwen”, with a daily limit of 5% for stock trading.
Previously, Beijing Culture’s 2020 performance forecast showed that “the major projects include the ancient costume drama series invested and produced by the company, and there is significant uncertainty whether the drama series can be broadcast due to the impact of public opinion events of the main actors”.
The company’s 2020 annual report shows that Beijing Culture will have a net loss of $767 million in 2020; and a net loss of $2.606 billion in 2019.
Earlier this year, Beijing Culture issued an announcement that it had recently failed to return a bank loan as scheduled due to financial difficulties and had overdue a loan with an overdue principal amount of 50 million yuan. In response to this situation, Beijing Culture said that the company is now actively communicating with creditor banks, and the company will make every effort to raise funds through the sale of assets, film project financing, etc., to ease the company’s financial tension.
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