Foshan Lighting Chairman resigned due to investigation by the Securities and Futures Commission


Recently, Foshan Lighting (000541) can be said to be "in an endless stream of news" - from the investigation of the executives to the stock price soaring to the "leak door" self-examination, the "good boy" in the eyes of the regulatory layer, investors like Cash "divided cows", what is wrong with Foshan Lighting?

On September 1, Foshan Lighting (000541) re-issued that the company's board of directors received the resignation report of Chairman Zhuang Jianyi on August 30, because it is accepting the investigation by the Guangdong Securities Regulatory Bureau of the China Securities Regulatory Commission, so as not to affect the normal operation of the company. , applied for resignation as chairman of the company.

During the vacancy of the chairmanship, Zhong Xincai, the vice chairman of the board of directors, performed the duties of the chairman. The company stated that it will complete the by-election and related follow-up work of the chairman's vacancy as soon as possible.

It is worth noting that Chairman Zhuang Jianyi took office on May 27 this year, and in just three months, the original chairman, Zhong Xincai, regained control of Chairman Da Yin.

Previously, this newspaper had conducted in-depth discussions on the internal management mechanism of Foshan Lighting. Some analysts have pointed out that due to some LED technology reasons, there may be some differences in the internal management of Foshan Lighting, which has caused subtle changes in the relationship between the management of Osram, Hong Kong Prosperity, and Zhong Xincai. In the end, Zhuang Jianyi from Hong Kong's Prosperity became the chairman.

In the announcement of Foshan Lighting today, it seems to give the market a hint that the internal management of Foshan Lighting should be clear.

According to relevant media reports, Zhuang Jianyi is worth at least 1 billion yuan. At the end of August 2009, the purchase of Guangdong Lighting B shares twice cost a total of 400,000 Hong Kong dollars, during which the floating profit was less than 32,000 Hong Kong dollars, and did not cash out. In China's capital market, this matter does not seem to be a big surprise, and the investigations by the regulatory authorities should be justified.

"Things are by no means so simple. During the acquisition of Foshan Lighting by Hong Kong Prosperity, he has long concealed the relationship and long-term illegal trading of Foshan Lighting stocks." A source told the media that Zhuang Jianyi was suspected of insider trading and was reported. Far more than the insider trading involving 400,000 Hong Kong dollars is so simple, behind the battle of Foshan Lighting Holdings.

Tracing the change in equity of Foshan Lighting: In 1989, Hong Kong Prosperity established Chanchang Lighting Equipment Co., Ltd. with Foshan Lighting. Among them, Hong Kong Prosperity holds 60% and Foshan Lighting holds 40%. In 1995, Hong Kong Prosperity cooperated with Osram Lighting Co., Ltd. of Siemens Germany to establish Foshan Osram Co., Ltd., which is the predecessor of Osram (China) Lighting.

In 1996, Hong Kong's Prosperity and Osram jointly established Hong Kong Osram Prosperity Co., Ltd. ("Osram Prosperity") in Hong Kong, responsible for sales in Hong Kong and Macau. Subsequently, on August 31, 2004, the company’s shares held by the first major shareholder of Foshan Lighting were transferred to Osram Prosperity and Hong Kong Prosperity. The equity transfer was finally completed on April 6, 2006. At this point, Foshan Lighting has become a foreign-invested holding company.

Is there a connected transaction in this series of equity transfers? How will Foshan Lighting respond to market doubts?

As the first batch of A and B-share listed companies approved in Guangdong in 1993, Foshan Lighting has been able to sum up as a “good boy” for many years. Since its listing, the company has been paying dividends for a total of 17 consecutive years, with a total dividend of 2.33 billion yuan, far higher than the total raised funds of 1.339 billion yuan, becoming a veritable "cash cow". Now the company has entered the lithium battery field with high-profile, and the market has given it a very good expectation. It is such a company that is now standing on the edge of the suspected affiliated transaction, and its good image in the hearts of investors is also eager to fall.

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