On November 28th, Foshan Electric Lighting Co., Ltd.'s A-shares continued their decline for many days. The opening price of the shares fell below the 6-yuan mark on the previous day's close, and closed at 5.72 yuan. 4.51%. Obviously, the impact of the suspension of stocks at the beginning of this month and the investigation by the Securities and Futures Commission continued to ferment.
On November 5th, Foshan Lighting claimed to be suspended due to undisclosed major events, and Foshan Lighting’s stocks were heart-wrenching. Just as the market speculated on the reasons, the resumption announcement issued at noon said that the company received the "Notice of Investigation of China Securities Regulatory Commission" (Yuezheng Investigation Tongzi No. 12081), and accepted the Securities and Futures Commission on the suspected information disclosure violations. survey.
As of the close of November 28, Foshan Lighting's decline was nearly 20% from the highest share price before the SFC investigation.
The company is not affected?
During the sensitive period of the SFC investigation, industry players were reluctant to comment on Foshan Lighting. The reporter also contacted Zhou Xiangfeng, the secretary of the company's board of directors, and he also said that “it is not convenient to say moreâ€. "In the current situation, my secretary of the board of directors is very upset all day, very hard, I am very difficult to do." Zhou Xiangfeng complained to reporters. On November 27, after repeated questioning by reporters, Zhou Xiangfeng said that the relevant personnel of the CSRC have been stationed in the company to investigate all aspects of the company's accounts. "They (the SFC) have their work processes, investigation methods and means, and more details are not easy to disclose." But Zhou Xiangfeng also repeatedly told reporters that "the company's operations have not been affected by the incident."
It is reported that Foshan Lighting has many “in vitro†businesses and has been trying to open up new paths in new business areas such as lithium batteries, LEDs, and tourism. The lithium battery project has also been highly regarded by the outside world. The outside world is particularly concerned about whether this investigation will affect the investigation. The company's development in the field of lithium batteries.
When the reporter asked about this, Zhou Xiangfeng said: "The investigation does not involve the company's lithium battery project, the business has not been affected." But at the same time, he also admitted that the company's lithium battery business is not going well. "With the current relatively sluggish economic situation, even without the investigation by the Securities and Futures Commission, the operation of the lithium battery project will not necessarily be smooth."
In addition, Foshan Lighting's other “in vitro†businesses have repeatedly been criticized by the outside world and accused of not doing business. The wholly-owned Foshan Gaomingfuwan Shanshui Leisure Resort is one of them. Since the hotel industry is not the main business of Foshan Lighting, Foshan Lighting has always lacked the corresponding professional management capabilities and has been in a state of loss for a long time. On August 17 this year, Foshan Lighting announced that it will transfer its entire share capital of Foshan Gaoming Fuwan Shanshui Leisure Resort Co., Ltd. with a starting price of 318 million yuan.
On November 20, during the investigation of Foshan Lighting's acceptance by the China Securities Regulatory Commission, the latest announcement released on its website stated that “the company received a written notice from the former wholly-owned subsidiary Foshan Gaoming Fuwan Shanshui Leisure Resort Co., Ltd. After the completion of the equity transfer of Foshan Gaoming Fuwan Shanshui Leisure Resort Co., Ltd., a wholly-owned subsidiary of Foshan Gaoming District Administration for Industry and Commerce, the company holds Foshan Gaoming Fuwan Shanshui Leisure Resort Co., Ltd. 100% of the shares have been transferred to Guangdong Tuanyi Investment Group Co., Ltd. and Foshan Hongyi Real Estate Investment Co., Ltd., and the company has received equity transfer of RMB 317.05 million.
Zhou Xiangfeng told reporters that the matter was carried out according to the original plan and was not related to the investigation. However, there are also outsiders who questioned that the investigation by the China Securities Regulatory Commission was precisely because Foshan Lighting did not promptly announce the equity transfer information of the project and was suspected of conducting insider trading. According to media reports, Guangdong Tuanyi Investment Group Co., Ltd. and Foshan Hongyi Real Estate Investment Co., Ltd. are the same person and the latter is the former subsidiary. The legal representatives of the two companies are both brave. Whether this is a hidden violation or an aspect of the SFC's investigation.
As for some investors who had been hotly questioned to sue Foshan Lighting for compensation for losses, Zhou Xiangfeng said that each shareholder has his own opinions and demands. This is normal and their rights, but they have not received this yet. Court summons or notice of the matter.
The "bad boy" who used to be a "superior student"
Founded in 1958, Foshan Lighting is a large-scale backbone enterprise in the national electric light source industry. The State Council has approved the export base of mechanical and electrical products and enjoys the right to operate self-operated export business. The company has been ranked as the first in the national electrical and mechanical manufacturing industry among the 500 large and medium-sized industrial enterprises with the best economic benefits in the country. It is the largest, best quality, highest foreign exchange earning and best benefit among the national electric light source industry. Export-oriented business. As early as 1993, with the approval of the state, Foshan Lighting became the first batch of A and B listed companies in Guangdong. Foshan Lighting has been focusing on its main business and its performance has been stable. Since its listing, the company has distributed a total of 2.476 billion yuan in cash dividends to all shareholders.
However, in recent years, the company's founders and former executives have also dealt with insider trading, which is a "big blow" for Foshan Lighting, which has a good performance in successive years. In fact, before the investigation by the China Securities Regulatory Commission, Foshan Lighting was already a frequent visitor to the regulatory authorities at all levels. Its inferior "pre-existing" has become a nightmare for investors.
In August last year, Foshan Lighting announced that the former chairman of the company, Zhuang Jianyi and the former secretary of the board of directors, Zou Jianping, respectively received the “Notice of Investigation†issued by the Guangdong Securities Regulatory Bureau. The two were “in violation of securities laws and regulations†and the Guangdong Securities Regulatory Bureau has filed a case. survey.
According to the survey results, Zhuang Jianyi bought Foshan Lighting B shares twice in the secondary market two weeks before the board of directors voted to enter the major issues in the lithium energy field: once on August 25, 2009 at HK$5/share Buy 20,000 shares; the other is to buy 60,000 shares at HK$4.85/share on August 31.
It was also on August 31 that Foshan Lighting issued a written notice to all directors to convene a board meeting to review the “Proposal on Joint Venture to Establish Qinghai Fozha Lithium Energy Development Co., Ltd.â€. Obviously, the release date of the notice of the motion is too "coincidence" with the date of Zhuang Jianyi's share purchase.
In addition, the major shareholders and legal representatives of “Guangzhou Youchang Lighting Equipment Trading Co., Ltd.â€, which has been ranked among the top ten tradable shareholders of Foshan Lighting from 2000 to the end of 2009, are in a relationship with Zhuang Jianyi. In the 9-year period, Foshan Lighting’s annual report has consistently shown that Guangzhou Youchang has no relationship with other shareholders.
Just in July of this year, Foshan Lighting has been exposed to the hidden information of 12 affiliated companies. These 12 affiliated trading companies are all controlled or shareholding companies of Foshan Lighting’s head, Zhong Xincai’s “Friends and Friends†group. Among them, Foshan Schnoqi California Electric Co., Ltd. and Shanghai Liangqi Electric Co., Ltd. are the company established by Zhong Yongliang, the eldest son of Zhong Xincai, the chairman of the company; Zhong Xinhui, the second son of Zhong Xinhui, holds Foshan Slangbai Enterprise Co., Ltd. (hereinafter referred to as Slangbo). 95% of the shares, holding (29%) of (Hong Kong) Qinghai Skyline Rare Element Technology Development Co., Ltd., indirectly holding 20% ​​of Qinghai Weili New Energy Materials Co., Ltd....
Tracing the announcement of Foshan Lighting, in the company's description of related party transactions, the "friends and friends group" centered on the chairman Zhong Xincai involved many of his eldest sons and second sons, all of whom had transactions with listed companies. The above 12 affiliated trading companies were investigated by the Guangdong Securities Regulatory Bureau for an astonishing amount of connected transactions.
On November 5th, Foshan Lighting claimed to be suspended due to undisclosed major events, and Foshan Lighting’s stocks were heart-wrenching. Just as the market speculated on the reasons, the resumption announcement issued at noon said that the company received the "Notice of Investigation of China Securities Regulatory Commission" (Yuezheng Investigation Tongzi No. 12081), and accepted the Securities and Futures Commission on the suspected information disclosure violations. survey.
As of the close of November 28, Foshan Lighting's decline was nearly 20% from the highest share price before the SFC investigation.
The company is not affected?
During the sensitive period of the SFC investigation, industry players were reluctant to comment on Foshan Lighting. The reporter also contacted Zhou Xiangfeng, the secretary of the company's board of directors, and he also said that “it is not convenient to say moreâ€. "In the current situation, my secretary of the board of directors is very upset all day, very hard, I am very difficult to do." Zhou Xiangfeng complained to reporters. On November 27, after repeated questioning by reporters, Zhou Xiangfeng said that the relevant personnel of the CSRC have been stationed in the company to investigate all aspects of the company's accounts. "They (the SFC) have their work processes, investigation methods and means, and more details are not easy to disclose." But Zhou Xiangfeng also repeatedly told reporters that "the company's operations have not been affected by the incident."
It is reported that Foshan Lighting has many “in vitro†businesses and has been trying to open up new paths in new business areas such as lithium batteries, LEDs, and tourism. The lithium battery project has also been highly regarded by the outside world. The outside world is particularly concerned about whether this investigation will affect the investigation. The company's development in the field of lithium batteries.
When the reporter asked about this, Zhou Xiangfeng said: "The investigation does not involve the company's lithium battery project, the business has not been affected." But at the same time, he also admitted that the company's lithium battery business is not going well. "With the current relatively sluggish economic situation, even without the investigation by the Securities and Futures Commission, the operation of the lithium battery project will not necessarily be smooth."
In addition, Foshan Lighting's other “in vitro†businesses have repeatedly been criticized by the outside world and accused of not doing business. The wholly-owned Foshan Gaomingfuwan Shanshui Leisure Resort is one of them. Since the hotel industry is not the main business of Foshan Lighting, Foshan Lighting has always lacked the corresponding professional management capabilities and has been in a state of loss for a long time. On August 17 this year, Foshan Lighting announced that it will transfer its entire share capital of Foshan Gaoming Fuwan Shanshui Leisure Resort Co., Ltd. with a starting price of 318 million yuan.
On November 20, during the investigation of Foshan Lighting's acceptance by the China Securities Regulatory Commission, the latest announcement released on its website stated that “the company received a written notice from the former wholly-owned subsidiary Foshan Gaoming Fuwan Shanshui Leisure Resort Co., Ltd. After the completion of the equity transfer of Foshan Gaoming Fuwan Shanshui Leisure Resort Co., Ltd., a wholly-owned subsidiary of Foshan Gaoming District Administration for Industry and Commerce, the company holds Foshan Gaoming Fuwan Shanshui Leisure Resort Co., Ltd. 100% of the shares have been transferred to Guangdong Tuanyi Investment Group Co., Ltd. and Foshan Hongyi Real Estate Investment Co., Ltd., and the company has received equity transfer of RMB 317.05 million.
Zhou Xiangfeng told reporters that the matter was carried out according to the original plan and was not related to the investigation. However, there are also outsiders who questioned that the investigation by the China Securities Regulatory Commission was precisely because Foshan Lighting did not promptly announce the equity transfer information of the project and was suspected of conducting insider trading. According to media reports, Guangdong Tuanyi Investment Group Co., Ltd. and Foshan Hongyi Real Estate Investment Co., Ltd. are the same person and the latter is the former subsidiary. The legal representatives of the two companies are both brave. Whether this is a hidden violation or an aspect of the SFC's investigation.
As for some investors who had been hotly questioned to sue Foshan Lighting for compensation for losses, Zhou Xiangfeng said that each shareholder has his own opinions and demands. This is normal and their rights, but they have not received this yet. Court summons or notice of the matter.
The "bad boy" who used to be a "superior student"
Founded in 1958, Foshan Lighting is a large-scale backbone enterprise in the national electric light source industry. The State Council has approved the export base of mechanical and electrical products and enjoys the right to operate self-operated export business. The company has been ranked as the first in the national electrical and mechanical manufacturing industry among the 500 large and medium-sized industrial enterprises with the best economic benefits in the country. It is the largest, best quality, highest foreign exchange earning and best benefit among the national electric light source industry. Export-oriented business. As early as 1993, with the approval of the state, Foshan Lighting became the first batch of A and B listed companies in Guangdong. Foshan Lighting has been focusing on its main business and its performance has been stable. Since its listing, the company has distributed a total of 2.476 billion yuan in cash dividends to all shareholders.
However, in recent years, the company's founders and former executives have also dealt with insider trading, which is a "big blow" for Foshan Lighting, which has a good performance in successive years. In fact, before the investigation by the China Securities Regulatory Commission, Foshan Lighting was already a frequent visitor to the regulatory authorities at all levels. Its inferior "pre-existing" has become a nightmare for investors.
In August last year, Foshan Lighting announced that the former chairman of the company, Zhuang Jianyi and the former secretary of the board of directors, Zou Jianping, respectively received the “Notice of Investigation†issued by the Guangdong Securities Regulatory Bureau. The two were “in violation of securities laws and regulations†and the Guangdong Securities Regulatory Bureau has filed a case. survey.
According to the survey results, Zhuang Jianyi bought Foshan Lighting B shares twice in the secondary market two weeks before the board of directors voted to enter the major issues in the lithium energy field: once on August 25, 2009 at HK$5/share Buy 20,000 shares; the other is to buy 60,000 shares at HK$4.85/share on August 31.
It was also on August 31 that Foshan Lighting issued a written notice to all directors to convene a board meeting to review the “Proposal on Joint Venture to Establish Qinghai Fozha Lithium Energy Development Co., Ltd.â€. Obviously, the release date of the notice of the motion is too "coincidence" with the date of Zhuang Jianyi's share purchase.
In addition, the major shareholders and legal representatives of “Guangzhou Youchang Lighting Equipment Trading Co., Ltd.â€, which has been ranked among the top ten tradable shareholders of Foshan Lighting from 2000 to the end of 2009, are in a relationship with Zhuang Jianyi. In the 9-year period, Foshan Lighting’s annual report has consistently shown that Guangzhou Youchang has no relationship with other shareholders.
Just in July of this year, Foshan Lighting has been exposed to the hidden information of 12 affiliated companies. These 12 affiliated trading companies are all controlled or shareholding companies of Foshan Lighting’s head, Zhong Xincai’s “Friends and Friends†group. Among them, Foshan Schnoqi California Electric Co., Ltd. and Shanghai Liangqi Electric Co., Ltd. are the company established by Zhong Yongliang, the eldest son of Zhong Xincai, the chairman of the company; Zhong Xinhui, the second son of Zhong Xinhui, holds Foshan Slangbai Enterprise Co., Ltd. (hereinafter referred to as Slangbo). 95% of the shares, holding (29%) of (Hong Kong) Qinghai Skyline Rare Element Technology Development Co., Ltd., indirectly holding 20% ​​of Qinghai Weili New Energy Materials Co., Ltd....
Tracing the announcement of Foshan Lighting, in the company's description of related party transactions, the "friends and friends group" centered on the chairman Zhong Xincai involved many of his eldest sons and second sons, all of whom had transactions with listed companies. The above 12 affiliated trading companies were investigated by the Guangdong Securities Regulatory Bureau for an astonishing amount of connected transactions.
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