股權架構更替之謎

在(zai)外界看來，陜西綜電(dian)很容易(yi)被認(ren)為是一家國(guo)有(you)的電(dian)力(li)企業(ye)。然而，這(zhe)家公司在(zai)西部證劵(juan)招(zhao)股說明書中被歸為社會法人股東類，也(ye)就是說，這(zhe)家公司并(bing)非國(guo)有(you)電(dian)力(li)企業(ye)，實際情況真是如此嗎？

《每日經濟新(xin)聞》查詢相關資(zi)(zi)(zi)料后發(fa)現，該(gai)公(gong)司(si)的(de)設立(li)時間應(ying)早于(yu)1998年(nian)，其股(gu)(gu)東為陜(shan)(shan)(shan)西(xi)電(dian)力建設投(tou)資(zi)(zi)(zi)開發(fa)公(gong)司(si)（出(chu)(chu)資(zi)(zi)(zi)500萬(wan)(wan)(wan)，占股(gu)(gu)16.13%）、陜(shan)(shan)(shan)西(xi)信托(tuo)(tuo)投(tou)資(zi)(zi)(zi)有限(xian)公(gong)司(si)（出(chu)(chu)資(zi)(zi)(zi)300萬(wan)(wan)(wan)，占股(gu)(gu)9.67%）、陜(shan)(shan)(shan)西(xi)國際信托(tuo)(tuo)投(tou)資(zi)(zi)(zi)股(gu)(gu)份(fen)有限(xian)公(gong)司(si)（出(chu)(chu)資(zi)(zi)(zi)300萬(wan)(wan)(wan)，占股(gu)(gu)9.67%）、陜(shan)(shan)(shan)西(xi)省農電(dian)管理局(ju)（出(chu)(chu)資(zi)(zi)(zi)300萬(wan)(wan)(wan)，占股(gu)(gu)9.67%）、陜(shan)(shan)(shan)西(xi)省煙(yan)草實業有限(xian)責任公(gong)司(si)（出(chu)(chu)資(zi)(zi)(zi)200萬(wan)(wan)(wan)，占股(gu)(gu)6.47%）陜(shan)(shan)(shan)西(xi)省紡織品進出(chu)(chu)口公(gong)司(si) （出(chu)(chu)資(zi)(zi)(zi)400萬(wan)(wan)(wan)，占股(gu)(gu)12.92%）、陜(shan)(shan)(shan)西(xi)華能科技有限(xian)公(gong)司(si)（出(chu)(chu)資(zi)(zi)(zi)500萬(wan)(wan)(wan)，占股(gu)(gu)16.13%）、陜(shan)(shan)(shan)西(xi)省扶貧開發(fa)協會 （出(chu)(chu)資(zi)(zi)(zi)300萬(wan)(wan)(wan)，占股(gu)(gu)9.67%）、陜(shan)(shan)(shan)西(xi)省銅川鑫光鋁業有限(xian)公(gong)司(si)（出(chu)(chu)資(zi)(zi)(zi)300萬(wan)(wan)(wan)，占股(gu)(gu)9.67%）。

從(cong)上述股(gu)(gu)權架構中不難(nan)看出，該(gai)公(gong)司此(ci)階段應為(wei)(wei)國有法人股(gu)(gu)，其大股(gu)(gu)東為(wei)(wei)陜西電力建設投資開(kai)發公(gong)司 （為(wei)(wei)西部證(zheng)劵當(dang)前大股(gu)(gu)東），而(er)其他的(de)幾個主(zhu)要股(gu)(gu)東均為(wei)(wei)省(sheng)屬國企(qi)設立(li)的(de)公(gong)司。根據(ju)上述資料，陜西電力建設投資開(kai)發公(gong)司原(yuan)董事長劉(liu)春茂(mao)亦為(wei)(wei)該(gai)公(gong)司的(de)法人代表，而(er)值得注意的(de)是，劉(liu)春茂(mao)之前為(wei)(wei)陜西省(sheng)主(zhu)管電力的(de)副省(sheng)長。

此后，數(shu)家民營(ying)企業(ye)陸續受讓陜(shan)(shan)(shan)西(xi)綜電(dian)股(gu)份，成為(wei)該公(gong)司的掌(zhang)控(kong)方。根據陜(shan)(shan)(shan)西(xi)綜電(dian)2003年10月(yue)24日(ri)的會(hui)議記錄顯示，陜(shan)(shan)(shan)西(xi)省(sheng)電(dian)力(li)(li)建設投(tou)資(zi)開發(fa)公(gong)司、西(xi)部信(xin)托投(tou)資(zi)有限(xian)(xian)(xian)公(gong)司（原陜(shan)(shan)(shan)西(xi)信(xin)托）、陜(shan)(shan)(shan)西(xi)省(sheng)扶貧開發(fa)協會(hui)、陜(shan)(shan)(shan)西(xi)省(sheng)農電(dian)管理局、銅川鑫光鋁業(ye)有限(xian)(xian)(xian)公(gong)司均(jun)退出陜(shan)(shan)(shan)西(xi)綜電(dian)。而(er)陜(shan)(shan)(shan)西(xi)達西(xi)瑞房(fang)地(di)產開發(fa)公(gong)司則(ze)以19.355%的持股(gu)比例成為(wei)陜(shan)(shan)(shan)西(xi)綜電(dian)的控(kong)股(gu)股(gu)東，陜(shan)(shan)(shan)西(xi)海鴻投(tou)資(zi)集團有限(xian)(xian)(xian)公(gong)司、陜(shan)(shan)(shan)西(xi)秦興電(dian)力(li)(li)工貿有限(xian)(xian)(xian)公(gong)司、西(xi)安裕華(hua)科(ke)技投(tou)資(zi)有限(xian)(xian)(xian)公(gong)司亦(yi)成為(wei)接盤(pan)者。

與此同時(shi)，該公司的法(fa)人(ren)亦(yi)由劉春茂(mao)變更為朱(zhu)平安，正(zheng)式(shi)完成了從國(guo)有法(fa)人(ren)股到(dao)社(she)會法(fa)人(ren)股的更替。