Written by: Our reporter Hu Xiaoying Jie Yue Yang Meng Wang Zheng Jia Li Wang Jing Yang
Preface: In the treacherous and turbulent environment of the capital market, the possession of a stable executive management is one of the most important criteria for investors to measure whether the listed company is of value to the investment. 2014, a number of listed companies in the country have experienced a huge personnel turbulence at the top. In 2014, a number of domestic listed companies experienced huge personnel turmoil at the top, partly due to the "fall" of the case, partly due to the company's infighting "arrested". The executives of these listed companies either "lost contact" or "disappeared" before the fall, although some bosses "lost and re-link", but the daily operation of the listed company has had an impact, even affecting the listed company's The impact, and even affect the share price of listed companies, which in turn affects the immediate interests of investors, is deplorable.
A war without smoke
The former CEO of Rays Lighting Wu Changjiang fell in the hands of former comrades
Event review: August 8, Rays Lighting, an announcement of Wu Changjiang and Wang Donglei grudges unveiled, Wu Changjiang's chief executive officer position was forcibly discharged by the chairman of the board of directors of Rays Lighting and Dehao Runda chairman Wang Donglei took over. Subsequently in August 29th, Leishi Lighting's interim shareholders meeting, Wang Donglei again led the Department of direct accusations of Wu Changjiang private, conveyance of interests, accusing Wu Changjiang in the Leishi Lighting Board of Directors do not know the circumstances of the violation of the guarantee, may make the Leishi Lighting suffered a huge loss of 173 million yuan, voted to remove Wu Changjiang in the Leishi Lighting of any position. Immediately, the two men against each other in the air, each other trying to hollow out the company, in the capital market set off a "bare knuckle battle". During the period, Wu Changjiang three times was forced to leave his own hand to create the Rays Lighting do not know where to go, twice to show innocence to return.
This infighting continues to escalate, Rays Lighting more and more into the storm, dealers to stop the supply, the bill "flying". Until the afternoon of October 28, Rays Lighting's official microblogging out a "case inform the book", Wu Chang Jiang's whereabouts are gradually clear, Huizhou Public Security Bureau confirmed to the outside world, Wu Chang Jiang on suspicion of misappropriation of funds by the Huizhou police investigation.December 16, the media to the Huizhou Public Security Bureau, Huizhou Public Security Bureau confirmed that Wu Chang Jiang The Huizhou Public Security Bureau confirmed that Wu Changjiang had been criminally detained by the Huizhou police on suspicion of misappropriation of funds, but the case is still under further investigation.
Review: Founder Wu Changjiang probably never thought he would walk into such a situation: expelled three times a year. "It's more menacing than once, more intense than once." Wu Changjiang more than once in front of the media "complained bitterly", but left him more accusations and helplessness, and finally fell in the hands of Wang Donglei, a former comrade in arms. Wu Changjiang once said, "I am too naive and gullible," now he is really hard to let people believe him. No matter who hollowed out the listed company, the next law will give the answer, but the victims of this struggle - Rishi Lighting has been full of holes, now Rishi Lighting is facing the problem of where the boss went? Whether to retain the determination of investors, whether to regain the confidence of dealers, whether the "Rays" brand can be set up in the LED forest with a bright future, these are Rays Lighting urgently need to solve the problem.
Fangda Group, the former chairman of Fang Wei whether "lost" into a mystery
Fax handwritten signature to self-certification is not lost
Event review: June 27, the Standing Committee of the National People's Congress announcement shows that the Standing Committee of the Liaoning Provincial People's Congress removed Fang Wei of the twelfth session of the National People's Congress Representative position. Subsequently, rumors spread that Fang Wei had lost his job.
Since the announcement, Fangda's listed companies have been affected. Three listed companies Fangda Special Steel, Fangda Carbon and Fangda Chemical have all suspended trading urgently. The evening of July 1 this year, the three companies at the same time on the actual controller Fang Wei issued a clarification announcement, the three companies emphasized that although Fang Wei is the company's actual controller, but it does not serve in any capacity, not involved in day-to-day affairs, the company's operations and production all normal.
In order to dispel market doubts, July 2, Fangda Group's three listed companies issued a self-checking announcement, said Fangda Group letter that Fang Wei has not lost contact with the group's related work, but also in the deployment of the group's work, and attached to the Fangda Group passed the deployment of Fang Wei signed by himself the relevant work of the fax document, in the fax document on the top of the Wei signed the "has been", the Group's finance department, securities department, the Group's finance department, the Group's financial department, the Securities Department. Require the Group's Finance Department, Securities Department and other relevant departments in accordance with the requirements of the inquiry letter to actively cooperate with the listed company to do a good job in the relevant self-examination work" of the note.
At the same time, the actual shareholder of the three listed companies Fangda Group letter that Fang Wei is not lost, is still deployed in the group's work. Fangda Special Steel and Fangda Carbon also announced the receipt of Fangda Group passed by Fang Wei himself signed the work of the fax. In the letter, Fang Wei said the group company's financial department, the securities department in accordance with the requirements of the listed company inquiry letter to actively cooperate with the relevant self-examination work.
Publicly available information shows that Fang Wei is the chairman of the board of directors of Liaoning Fangda Group Industry Co. In 2012, Hurun released the "2012 Young Rich List," in which he ranked second with a wealth of 15 billion yuan.
Review: After Fang Wei was removed from his post as a deputy to the National People's Congress, his so-called "rich history", especially Fangda Group's early participation in the Nanchang Iron and Steel restructuring of the controversy was once again "dug out", the outside world believes that the relevant restructuring process there is a huge transfer of benefits!
The company's newest product is a new product, which has been designed and developed by the company, and is now available in a variety of different formats, including: (1) a new product, (2) a new product, and (3) a new product.
Haixin Iron and Steel by the boom and bust
Marshall Li Zhaohui "disappeared" to avoid creditors
Event review: since March 18 this year, Haixin Iron and Steel announced that the production has been halted, so far has been more than 9 months. As Shanxi Province and even the country's well-known private steel enterprises, Wenxi County's pillar industry, Haixin building eventually with the collapse of their own drawn a dishonorable sentence. Accountability, Haixin marshal Li Zhaohui naturally blame, but in front of thousands of debt collectors, puzzling is that this marshal has not yet made a public statement.
It is undeniable that Haixin Iron and Steel was once brilliant, since the last chairman Li Haicang founded Haixin Iron and Steel, Haixin has been taken by the locals as the pride of Wenshi County and backing, from a start only 400,000 yuan in assets of the small steel mills grew rapidly to become the later Shanxi Province's largest private steel enterprises, with as many as more than 10,000 workers in Wenshi County's pillar industries, Haixin has been creating their own The "myth" is that Haixin has been creating its own myth.
But this myth has taken a turn for the worse since the gunshot on January 22, 2003, when Li Haicang was accidentally shot and killed, at which time Li Zhaohui, the "Major" who had returned from his overseas studies, took over Haixin Iron & Steel in a critical situation. In the midst of the support and skepticism, Li Zhaohui lived up to his expectations and continued the glory of Haixin Iron & Steel in the early stage of his term of office. splendor.
The capital operation through the Haixin industry, so that Li Zhaohui in 2007, 2008 for two consecutive years among the Hurun Hundred Rich List, but also be worn on Shanxi's youngest richest man's halo. However, the market about Li Zhaohui drunk on finance, not steel industry claims also came.
But, as the steel industry entered the winter, HCL Steel's "hidden problems" finally broke out. People then realized that the Haixin marshal was a "do not love steel love investment" Lord, in the steel plant operations into the quagmire, Haixin steel debt loophole more and more big. According to public information, Haixin Group's existing liabilities and external guarantees figure about 10.459 billion yuan, while the entire Haixin Group's book assets of only 10.068 billion yuan, which means that its debt ratio of more than 100%.
Review: Now Haixin Steel has become an empty factory, blast furnaces have long been closed, employees were dismissed to go home and wait for the news, the debt collectors will be blocked by the company's gate but most of them returned to no avail. November 12, Shanxi Yuncheng Intermediate People's Court published five announcements, officially ruled to accept the application for bankruptcy reorganization of Haixin Steel
filed by four creditors. Things have come to this point, as the company's hand, Haixin Iron and Steel bankruptcy of the originator Li Zhaohui has always been silent, has not made public statements and explanations. Li Zhaohui's attitude has also allowed many debt collectors and the factory's backbone employees' emotions to change from suspicion to anger and ultimately to disappointment. Haixin Steel debt crisis has not yet been a satisfactory solution, Li Zhaohui destination is still a mystery, in the year will come, we can not help but still want to ask: "Haixin Steel Chairman Li Zhaohui, you in the end where to go?"
NetQin chairman stepped down
Suspected "lost" and Rui Chenggang case
Event review: December 10, 2014, engaged in the cell phone and network security business of the U.S. listed company NetQin released an announcement that the chairman and co-CEO Lin Yu due to personal reasons unrelated to the company , has stepped down from his post. According to Omar Khan, co-CEO of NetQin, in a conference call, the company's board of directors had decided a few months ago that Lin Yu's departure was a personal decision by Lin Yu and had little to do with NetQin.
Lin Yu did not make any personal remarks or statements after the news of his departure was released. At the same time, Lin Yu's cell phone has been offline. Some media said that NetQin insiders have been unable to contact Lin Yu for several days, suspecting that he has lost contact with the company. Lin's personal microblogging account also stopped updating after June 5 of this year.
While the market is asking Lin Yu "where he's gone," some media outlets have revealed that Rui Chenggang has a good relationship with NetQin. The report said, Rui Chenggang's new book "combination of reality and reality", Netqin can support a lot, Netqin CEO Lin Yu to participate in the Boao Forum, mixed with a round table of young leaders guests, with the host Rui Chenggang at the same table, but also Rui to help the operation of the results. The delay to NetQin out of the problematic annual report of PricewaterhouseCoopers has finally been replaced.
Review: At present, Lin Yu's whereabouts are still a mystery, while the company he founded has not been able to get rid of the negative news since it was accused by U.S. research firm Muddy Waters of "manipulating a major scam" in a report released last year. Although Netqin has submitted its 2013 audited annual report. However, Muddy Waters believes the report is "biased" and suspects insider trading in NQ stock, and has asked regulators to launch an investigation into NQ as soon as possible.
Meanwhile, the company released its third-quarter report on Dec. 19, after submitting its 2013 annual report, saying it reported net revenue of $242.6 million for the first three quarters of the year and a net loss of $55 million.
With all the unfavorable news coming out, NetQin has begun to adjust its slate of board members and aggressively release news that the company is doing well. But it remains to be seen whether that will offset the negative news that the chairman of the board has been out of touch since he left office.
"Exile" overseas for two years
Farglory's actual controller Xu Yuliao returned to China to surrender
Event review: Farglory released an announcement on the evening of December 1, 2014, the company was informed that on the evening of November 28, 2014, the former chairman of the board of directors of the company, the legal representative of the company, Xu Yuliao, took the initiative to return to the country to surrender
Active cooperation with the procuratorial authorities in handling the case, and the company has been actively cooperating with the prosecutor's office.
At the same time, according to the announcement, Mr. Xu Yuliao is the controlling shareholder and de facto controller of Farglory, and as of the end of September 2014, Mr. Xu Yuliao held 25.19% of the shares of Farglory, according to public information.
Two years ago, the then Shenzhen People's Congress of the Xu Yuliao suspected of bribery to the former Ministry of Railways Transport Bureau, deputy director of the Department of Vehicles, Liu Ruiyang. 24 October 2012, the Shenzhen Municipal People's Congress licensed the prosecution authorities to take coercive measures against Xu Yuliao, Xu Yuliao then began to turn around in the United States and Singapore to escape, by his wife, Chen Guangzhu, as Faraway Valley's acting president and chairman of the board of directors.
On Feb. 24 and Sept. 29 this year, two investments in Faraway Valley seemed to coincide with Xu Yuliao's overseas trajectory. According to the Faraway Valley announcement, on February 24, Faraway Valley agreed that its U.S. subsidiary, Faraway Valley Technologies (USA) Ltd. had contributed $1 million to set up a wholly owned European subsidiary. By Sept. 29, Farglory had transferred 100 percent of Farglory Technologies (USA) Ltd. to another wholly owned subsidiary of the company, Farglory Technologies Ltd. which happens to be located in Singapore.
In the period of time after Xu Yuliao's departure, the performance of Faraway Valley had plummeted, in 2013, Faraway Valley operating profit of 20.4545 million yuan, a year-on-year decline of 83.63% compared with the previous year, the first two quarters of this year, its performance is also in decline, in the third quarter of this year, its operating conditions have improved significantly, operating income year-on-year to achieve a growth of 26.20%, and the net profit increased by 918.54 percent.
Review: when it was because of a cost of 18.5 million yuan of the Ministry of Railways "sky-high" promotional film and pulled out of the railroad system, a series of corruption cases, which involves the then Ministry of Railways Transportation Bureau, deputy director of the Department of Vehicles Liu Ruiyang, the reason for the former Hurun tycoon Xu Yuliao fled because of the bribe to Liu Ruiyan was The reason why Hurun tycoon Xu Yuliao fled is because the bribe to Liu Ruiyang was investigated.
Fifteen years ago, Fargo Valley was established, from the earliest four employees started, Xu Yuliao himself had a part-time driver, to the early years before the IPO listing on the first day of the stock price to 60 yuan / share high, to reach the price of 1.5 billion yuan, and then suspected of bribery was to be taken as a compulsory measure until the return to China to surrender, Xu Yuliao destiny vortex of the wheel of the round so that people can not help but contend.
Chairman Meng Kai out of the country to find money late return
China Science and Technology Network encountered a capital chain predicament
Event review: since the announcement of the transformation of big data, once the "catering first stock" Xiang E love has been plagued by maladies. In December, the chairman of the board of directors Meng Kai has not returned to the news spread, has been renamed as China Science and Technology Group Corporation "kitchen" and fell into a new development crisis.
It is reported that the chairman of the board of directors of the network Meng Kai "eleven" holiday began to travel abroad, mainly for the payment of corporate debt and other matters to raise funds for the disposal of assets looking for acquirers, Meng Kai, mainly through the phone, e-mail, fax, etc. to arrange for the work and participate in the decision-making.
Inside the network claimed to the media, Meng Kai is indeed abroad for more than two months did not return to the country, is currently dealing with foreign assets, is negotiating. The main reason is that the company is now really encountered financial problems, the impact of which the company has suspended the pace of the company's transformation and acquisition, but previously signed contracts continue to be implemented, the company's future acquisitions there is also uncertainty.
In December 2012, the central government introduced the "eight provisions" and other policies, high-end catering on behalf of the Xiang'ei in 2013 annual loss of 564 million yuan. Although Meng Kai repeatedly layout of low-end catering or through the sale of assets, shut down stores, involved in environmental protection and other ways to try to reverse the losses, but the struggling Xiang'e love did not let investors see hope.
In June this year, Xiang E love high-profile announcement from the catering, transformation layout of big data, want to dig gold through the Internet, but so far, the results are poor.
It is understood that the successive directors, supervisors, senior management **** there are 42, of which 29 have left. That is to say, about 70% of the executives have hung up their crowns to go, once "the first domestic catering stock" has become the stock market, "the first share of executive departure".
Review: swinging "spoon" of the chef in the industry encountered a trough, not strong internal strength to do fine and strong business, but choose to keep transforming and selling assets to get by, not only so that investors do not have confidence, but also so that "the whole team are confused", and at this time, Meng Kai suddenly went abroad to transfer to a foreign country, but also to the United States, the United States and China. At this time, Meng Kai suddenly to foreign transfer assets two months did not return, but also let the climbing period of the future development of China Science and Technology Cloud Network is full of variables.
The company's current situation, it must be said, mainly stems from Xiang E's insistence on diversification and transformation, so that most of the executives can not see the future development of the company, and in the transformation of the background of profitability is expected to be far away, the executives gradually lost confidence in it. For the company's chairman Meng Kai, "far away from home" is obviously not a wise move, back to face the difficulties at the helm of the forward is a priority.
Noach boss "lost" by the world's most wanted
Company to be reorganized for sale
Event review: from a single store to a chain of brands, and then listed on the Hong Kong Stock Exchange, was claimed to be the first Hong Kong-listed "fast-fashion" brand Noach, who is the first to be listed in Hong Kong.
The event review: From a single small shop to a chain of brands, and then to the Hong Kong Stock Exchange, once claimed to be the first domestic Hong Kong-listed "fast-fashion" brand Novelty, who would have thought that this listed company, which mainly produces casual men's clothing, would be trapped in huge debts, and the boss is missing by the Interpol red notice of this day?
Recalling July 25, Notch shares released an announcement that "the company's chairman Ding Hui lost contact". After that, the Noach board of directors immediately after the July 31 announcement that on January 27 and April 3 this year, Ding Hui successively instructed the company's wholly-owned Hong Kong subsidiary Noach Fashion International Limited in the Bank of Communications Hong Kong Branch bank account of 50 million yuan and HK$19.55 million transferred to a British Virgin Islands company's account; at the same time, on January 27 and March 11 this year, Ding Hui successively At the same time, on January 27 and March 11 this year, Ding Hui successively instructed Novelty Fashion to transfer RMB 160 million and RMB 2.5 million from its bank account at the Hong Kong branch of the Bank of Communications to Novelty Fashion's bank account at Xiamen International Bank. This means that Ding Hui from January to April has four times transferred Novelty funds totaling 228 million yuan.
Ding Hui lost contact, the debtors have come to collect debts. The company and its subsidiaries received notices from Xiamen International Bank, Minsheng Bank and Shandong Trust, alleging that Novelty had guaranteed or pledged securities for loans totaling 455 million yuan for a number of people who were not members of the group, according to Novelty's announcement. However, it is widely believed in the industry that Ding Hui and his wife Chen Ruiying have absconded to Hong Kong, where they have borrowed a combined total of more than 1.5 billion yuan.
Comment: Ding Hui lost contact with the matter, some industry insiders commented as a result of the broken capital chain. In fact, in Fujian Province, similar to the loss of Novelty's boss has been a common occurrence, the main reason is related to the shortage of funds. From the overall trend of the local garment industry, it is because of industry overcapacity, product homogenization led to the majority of enterprises with high inventory can not be realized, resulting in the loss of funds for the continued operation of the enterprise and ultimately had to run away. The big wave of sand, I believe that after the industry has experienced this shuffle, there will be a new beginning.
Yajule boss "lost contact" 75 days after the return
Financing plan blow sales target difficult to complete
Event review: near the end of the year, this year are not too smooth old real estate enterprises Yajule can finally breathe a sigh of relief. December 14 evening, Yajule announcement, the company received a notice, "the Kunming People's Procuratorate", "the Kunming People's Procuratorate", "the Kunming People's Procuratorate", "the Kunming People's Procuratorate". The Kunming People's Procuratorate's "designated residence measure" is no longer applicable to Chen ZhuoLin, and will be reinstated as an executive director, chairman of the board of directors and president of the company on December 15th.
In contrast to many companies that get into trouble and then lose their bosses, Yajule boss Chen Zhuo Lin's whereabouts are pretty much certain. But he can't go anywhere else, as the company's projects in Yunnan may be in trouble, and Chen has been given a "designated residence measure" by the Kunming People's Procuratorate.
It is reported that Chen's "accident" is related to the company's Yunnan project, which is likely to involve the transfer of benefits to local officials. Public information also shows that Yajule currently in Yunnan *** Tengchong, Ruili, Xishuangbanna and Kunming four projects, and Yajule half-yearly report shows that, as of August this year, in addition to Kunming outside the Yunnan project average floor price of only 198 yuan/square meter, only 1/8 for similar projects, the low cost of land is aggravated Yajule is suspected of transfer of benefits of the speculation.
At the same time, in the Chen boss by the prosecution shortly after the residential surveillance, October 16, responsible for the Yajule Yunnan and Hainan real estate projects, executive director Huang Fengchao was confirmed to have lost contact with the company, and Huang Fengchao lost contact with the general manager of the Yajule Tengchong project before he was asked to assist in the Central Commission for Discipline Inspection investigation. However, Chen boss eventually returned safely, while returning to the post of the executive director of the Yaghou Le, group vice president Huang Fengchao. However, there is also the view that the current announcement by Yajule can only show that Chen Zhuo Lin is safe for the time being, but it doesn't mean that Chen Zhuo Lin and Yajule have retreated from the Yunnan corruption investigation in one piece.
And in the more than 2 months since Chen's boss was put under surveillance by the prosecution, Yajuluo has had a pretty rough time. The company first had to urgently call off a HK$2.8 billion rights issue financing plan, and its shares plunged more than 30 percent after trading resumed, with ratings agencies downgrading the company's rating.
Comment: In fact, real estate has always been the officials and bosses "accident" in the field of high incidence, some media have statistics, since 2000, half of the fall of provincial ministerial-level officials involved in real estate, the reason is naturally self-evident. However, as a public listed company, abide by the basic legal bottom line is still a red line, especially the founder of the company, once the accident on the company is undoubtedly a huge impact, not only may be half a lifetime of hard work to create a business destroyed, large and small investors will also suffer. In addition, in view of the serious situation of corruption in the field of real estate, officials' assets and property transaction information transparency should also be implemented as soon as possible, so that the officials improper properties have nothing to hide, and this will also be conducive to the development of a healthier real estate industry.
Goodyear boss Guo Yingcheng "naked retreat"
Guo's family fully withdrew from the management
Event review: in the context of the overall condition of the property market is not good, the Goodyear this year's sales performance can be said to be quite good. However, the company's boss Guo Yingcheng announced at this time from the company's "naked retirement", and to fellow countryman Zhang Jun control of life life sold part of the shares, life is sent to the company's board of directors.
Some sources said that Guo Yingcheng's departure is likely to be related to some of the officials in Shenzhen who have fallen from the horse, but Zhang Hongguang, chief financial officer of Jazhouye Group, said that Guo Yingcheng's resignation "is a worry that personal rumors continue to affect the company's share price. At the same time, Guo Yingcheng and his brother, former executive director Guo Yingzhi are in Hong Kong, not taken by the relevant departments.
It is reported that Guo Yingcheng resigned from the trigger from a short time ago, the JIA Zhaoye Shenzhen real estate was locked.
Subsequently, on Dec. 4, Dazheng Investment, a subsidiary of Guo Yingcheng's family, reduced its holding of 575.5 million old shares (accounting for 11.21 percent of Glorious Property's total capital stock) to Life Life at HK$2.898 per share, which would increase its shareholding in Glorious Property to about 29.96 percent. And promoted to the single largest shareholder of the company. And after this stake sale, the Kwok family's shareholding in Gloria through the family trust has dropped to 50.14 percent (previously the Kwok family trust held 61.35 percent of Gloria through DCH, Dafeng and Dazheng).
December 10 evening, the company's founder Guo Yingcheng also "health reasons" resigned from all positions in the Goodyear, including chairman of the board of directors, executive director, chairman of the nomination committee, members of the remuneration committee and the company's authorized representative, effective from December 31st. Meanwhile, Kwok Ying-chi, the younger brother of Kwok Ying-shing, has been re-designated from an executive director to a non-executive director because he "wishes to devote more time to pursuing his personal career". The elder of the three Kwok brothers, Kwok Chun Wai (Chairman of Future Financial Group), does not work for Glorious Property Group. Thus, at least on the surface, the Kwok family has fully withdrawn from the management of Glorious Property.
Review: The resignation of senior board executives is the *** same choice for many Hong Kong-listed firms caught in the storm, a move that helps minimize negative impacts in order to maintain the company's normal operations.
Some people close to Glorious Property also said, "Glorious Property's assets are actually quite large, including the old reform of this piece of assets is also very good, but in the Hong Kong capital market, the Chinese real estate enterprises, the share price is generally discounted very much, through the sale of shares to exit, at least from the capital to the Kwok family is a very big loss, the Kwok family is obviously ' compelled' to make this choice. However, the life of the ascendant is conducive to the stability of the company's operations, from the level of listed companies is undoubtedly benefit".
In fact, the Guo family's current choice is undoubtedly the best program, although there will be some losses, but at least most of the family business is still there, as the saying goes, "stay in the green hills, not afraid of no wood to burn", to avoid this storm, the Guo family comeback is not unlikely.