Behind the three chairmanships in February: the battle for control of Wantong Technology

Behind the three chairmanships in February: the battle for control of Wantong Technology
Within two months, there will be three chairman of the board, and the Wantong Science and Technology Palace will intensify.Wantong Technology announced on May 11 that its replacement and replacement of the chairman has attracted the attention of the Shenzhen Stock Exchange.Behind this is the battle between the Dehui Department and the current major shareholder Nanyingu for the control of Anhui Technology.The development of the majority shareholder Nanyingucheng’s executors can be traced back to the 2017 merger of Wantong Technology.From March 2016, Wang Zhongsheng, the former actual controller of Wantong Technology, Yang Shining and Yang Xinzi began to reduce their shares in listed companies by a large proportion, and the transfer of control rights of listed companies was obvious.As of March 8, 2017, the three have reduced their shareholding in Wantong Technology by 5%.As of March 15, 2017, the three held a total of 15 Wantong Technology.63% equity.On September 7, 2017, Wantong Technology made a price of 4.US $ 300 million purchase of 100% of Saiying Technology held by Yi Zenghui, Lin Mushun, Zhang Hehua, Wu Changnian, Wang Xuegang, Wu Yihua, Lin Honggang, Tang Shirong, Yao Zongcheng, Chen Leqiao, Zou Lin, Zhou YunEquity.At the same time, Wantong Technology issued shares to raise supporting funds for the issue of Southern Silver Valley Technology Co., Ltd. (hereinafter referred to as “Southern Silver Valley”), with an issue price of 7.60 yuan / share, the number of issues is 2401.320,000 shares, with a budget of 1.8.2 billion.The matching funds raised this time are intended to be used for the construction project of Saiying Technology’s micro-displacement radar production line to pay intermediary fees and related taxes.On December 12, 2018, Wang Zhongsheng, the former actual controller of Wantong Technology, Yang Shining and Yang Xinzi signed the “Vote Right Entrustment Agreement” with Southern Silver Valley, and the three companies will hold the listed company 2060 in total.680,000 shares (accounting for 5 of the total share capital)00%) The corresponding voting right is entrusted to Southern Silver Valley to exercise.After the voting rights have been delegated, the number of voting shares in Southern Silver Valley will reach 4461.990,000 shares, accounting for 10 of the total share capital.83%, Southern Silver Valley became the controlling shareholder of Wantong Technology, and Zhou Yin, the actual controller of Southern Silver Valley, became the actual controller of Wantong Technology.After taking over Wantong Technology, Southern Silver Valley continued to increase its stake in Wantong Technology, and then Southern Silver Valley owned Wantong Technology13.73% of the shares become the real head of the family.Southern Silver Valley’s official website shows that Southern Silver Valley is the operator of China’s subway Internet scene, the first company to do subway WiFi operation in China, and the pioneer of China’s subway WiFi industry.At the same time, Southern Silver Valley is also the only domestic enterprise that has completed full-environment WiFi coverage in the subway and is currently operating. The subway WiFi market share is close to 75%.According to Qizhan Information, Southern Silver Valley was established in April 2004 with a registered capital of 8522.44.88 million, the legal representative is Zhou Development, who directly holds Southern Silver Valley17.A total of 71% of the equity is held by Southern Silver Valley 18.45% of the equity, of which Southern Cloud Valley’s second largest shareholder, holds Southern Silver Valley.With a 67% stake, Qihoo 360 Software (Beijing) Co., Ltd. holds Southern Silver Valley 8.The 31% stake is therefore the third largest shareholder.The shareholders of Southern Silver Valley also include Caitong Fund, Ping An Insurance, Guangzhou Financial Holding and other shareholders with constant strength.On April 11, 2019, Southern Silver Valley pledged 81 held by it.35% of the equity of Wantong Technology. On April 10, 2020, Southern Silver Valley was listed as an enforcer by the Shenzhen Intermediate People’s Court.The chairman will be replaced within two months. Will the Dehui department behind Gongdou take control?On March 4, Zhou Development was still the chairman of Wantong Technology. The board of directors of Wantong Technology passed the “Regarding the Remuneration of Mr. Zhou Development, Chairman of the Fifth Board of Directors of the Company”. The announcement shows that Li Zhen and Wang, directors of Wantong TechnologyHui, Zhou Yan and other three directors jointly co-opted the position of dismissing Zhou Fang, chairman of the company’s fifth board of directors, on the grounds that during Zhou’s tenure, he changed the clearly planned strategic development path of the company and could not be qualified as chairman of the company.According to the company’s long-term development considerations, the board of directors is requested to remove the chairman of Zhou Development’s fifth board of directors.The shareholder agreed to 5 votes and opposed 4 votes. The four directors who voted for black were Zhou Development, director Yi Zenghui, independent director Luo Shousheng and independent director Wu Lina.After being dismissed as chairman, Zhou Development seems to have lost control of the board of directors.Liao Kai, who is also on the side of the Southern Silver Valley, Zhen Feng turned away and voted in favor of the recall.On March 10, Liao Kai was elected as the new chairman of Wantong Technology. On May 4, Liao Kai resigned because of work adjustments.On May 7, the board of directors of Wantong Technology passed the election of Li Zhen as the chairman of the company ‘s fifth board of directors. Director Zhou Development, Yi Zenghui and independent director Wu Lina voted for democracy. Zhou Development believes that Li Zhen is serving as a deputy directorWithin two months of being suspected of taking bribes from the accounting staff of the secondary company and just becoming vice chairman, he planned to sell the assets of the listed company cheaply.Once this kind of professional ethics is elected as the chairman, Wantong Technology will be brought into the abyss.It will be a huge injury to the company’s operations and small and medium investors.Attempted information shows that Li Zhen is a former partner of Dehui Capital, and Zhou Yan is currently a partner and investment director of Shanghai Dehui Investment Management Co., Ltd. The two have a strong relationship with Dehui and have appeared on the shareholder list of certain companies.in.In this competition for the board of directors, the Dehui Department currently has the upper hand.The major shareholder, Southern Silver Valley, asked the board of directors of the interim temporary shareholders meeting to pass the Shenzhen Stock Exchange’s concern about whether it is reasonable to face the runaway board of directors, and Zhou Development did not sit still.On April 20, as the actual controller of Wantong Technology, Southern Silver Valley requested a temporary extraordinary shareholders’ meeting on May 28 to strike and remove the relevant posts of Liao Kai, Zhen Feng, Li Zhen, Wang Hui, Zhou Yan and Luo ShoushengAt the same time, Southern Silver Valley appointed six director candidates, namely Zhou Chengdong, Zhang Xi, Liu Jun, Hu Ming, Lin Lei and Feng Yuan.Zhou Development tried to take control of the board of directors in his own hands.On May 2, Wantong Technology once again announced the board of directors, and at the same time agreed to the resolution of the Southern Silver Valley to submit a supplementary extraordinary general meeting, but it is believed that the removal of independent director Zhou Yan, Luo Shousheng’s reason is not established, and the relevant investment is only unclearIf the resolution is pending, Southern Silver Valley will continue to supplement the information before replacing it.On May 11th, Wantong Technology ‘s Gongdou play code attracted the attention of Shenzhen Stock Exchange. Shenzhen Stock Exchange asked Wantong Technology to explain whether the board of directors failed to pass the “Consensus on the First Interim Shareholders’ Meeting of the Board of Directors of 2020 “., Whether it is prudent to nominate the relevant chairman of the board, whether the operation of the board of directors is standardized, whether the decision-making process is scientific, and other related issues. The Shenzhen Stock Exchange solemnly reminds Wantong Technology that it should improve the governance mechanism, establish an effective corporate governance structure, and clarify shareholders, directors, and supervisory matters.Rights and obligations, guarantee the transparency of major information disclosure, operate in accordance with the law, be honest and trustworthy.The performance time of Wantong Technology ‘s Gongdou play coincided with the disclosure time of the 2019 annual report and the 2020 first quarter report. The annual report also encountered corresponding impacts. Director Zhou Development stated that he has objections to the content of the annual report and cannot guarantee the authenticity of the content of this report.Accurate and complete, the reason is that the statement of events in the balance sheet date is untrue, contrary to the facts, and contrary to the content of the corporate governance chapter of the annual report and the annual internal control report.Investors are invited to pay special attention.Director Zhou Development also disagrees with the content of Wantong Technology ‘s first quarter of 2020 report, which cannot be guaranteed to be true, accurate, and complete, on the grounds that revenue and costs do not match in the first quarter of 2020, and gross profit margin is reduced. The relevant explanations are not consistentIndustry practice.Investors are invited to pay special attention.Tibet Jingyuan, the second largest shareholder, suddenly increased its holdings. Behind it is Century Jinyuan. Should it also fight for control?The announcement on May 8 showed that Tibet Jingyuan Enterprise Management Co., Ltd. (hereinafter referred to as “Tibet Jingyuan”), the second largest shareholder of Wantong Technology, increased its shareholding in the company from March 17, 2020 to May 7, 2020During this period, Tibet Jingyuan increased its shareholding in the company’s shares through the Shenzhen Stock Exchange’s centralized auction trading system.520,000 shares, the proportion of shares increased by more than 1%.As of May 8, Tibet Jingyuan held Wantong Technology 7.47% equity.Tibet Jingyuan first appeared in Wantong Technology ‘s plan to acquire 100% equity of Saiying Technology two years ago to raise matching funds. At that time, Tibet Jingyuan no longer became a shareholder of Wantong Technology. At the end of 2018, Tibet JingyuanThe source appeared in the list of the top ten shareholders of Wantong Technology. Since then, Tibet Jingyuan has kept increasing its shares in Wantong Technology and became its second largest shareholder.According to Qicheng Information, Tibet Jingyuan was established in November 2013 with a registered capital of 30 million yuan. Huang Tao holds 60% of the equity of Tibet Jingyuan, Huang Shiying holds the remaining 40% of the equity of Tibet Jingyuan, and Huang Tao is the source of Century Jinyuan.Executive Director and President of the Group Board of Directors.Huang Tao is the son of Huang Rulun, the actual controller of Jinyuan in the century.In addition to the increase in holdings, according to the China Securities Journal, Wantong Technology seems to be throwing out a fixed increase plan. The company released Tibet Jingyuan and Shanghai Chuangshi Pangu Asset Management Co., Ltd. (referred to as “Chuangshi Pangu”) through this non-public offering.As a strategic investor, through strategic cooperation between the company and investors, investors can mobilize their high-quality industrial resources, give full play to the synergies with the company’s business development, and enhance the company’s competitive advantage in the field of transportation informatization.According to the plan, after the implementation of the fixed increase, the shareholding of Southern Silver Valley was replaced by 12.36%, Tibet Jingyuan and Genesis Pangu held 12 shares respectively.29%, 4.00%.In this way, Century Jinyuan also seems to want to take control of Wantong Technology.On May 12, regarding the authenticity of Wantong Technology ‘s fixed increase plan, Sauna and Yewang called Wantong Technology ‘s Director-General Office, and its staff stated that they were unaware of the fixed increase plan and all announcements shall prevail.Later, Sauna and Yewang called the business phone of Tibet Jingyuan. The staff said that the phone was a phone of Century Jinyuan Group and could not be contacted by Tibet Jingyuan.Sauna, Yenet Zhang Yanbian editor Yue Caizhou proofreading Yang Xuli