The “struggle” between NVC Lighting founder Wu Changjiang and company chairman Wang Donglei continues. After Wu Changjiang's equity in Dehao Runda was frozen, Wu Changjiang reported on October 9 that Wang Donglei had bought shares in the shell company Wei Mei Shengjing at a sky-high price, which was suspected of benefit transfer and performance fraud. In this regard, Wang Donglei told a Beijing News reporter yesterday that the investment had undergone a series of complete evaluations and was approved by the shareholders' meeting and the board of directors.
Report a company with an investment loss of RMB 640 million
Public information shows that Wu Changjiang currently holds 130 million restricted shares of Dehao Runda, accounting for 9.31% of the total share capital, and is the second largest shareholder of Dehao Runda. Wang Donglei is the owner of Wuhu Dehao Investment Co., Ltd., the largest shareholder of Dehao Runda, and the actual controller of Dehao Runda.
Yesterday, Wu Changjiang said that Dehao Runda acquired the equity of Weimei Shengjing at a sky-high price of 640 million yuan. At that time, Weimei Shengjing was already insolvent.
Previously, on the evening of May 13, 2013, Dehao Runda announced that it had invested 640 million yuan in Beijing Weimei Shengjing Advertising Co., Ltd. and acquired 21.27% of the shares of Weimei Shengjing.
Wu Changjiang said that when Weimei Shengjing was initially established in April 2011, its registered capital was 50 million yuan. At the end of 2012, the loss of Weimei Shengjing reached 22 million yuan. As of March 31, 2013, the owner's equity of Weimei Shengjing was -28.7811 million yuan.
Wu Changjiang believes that the acquisition of Dehao Runda is obviously suspected of taking advantage of his position to harm the interests of listed companies.
Dehao Runda also agreed in the acquisition announcement that Weimei Shengjing would use Dehao Runda's investment funds to purchase its LED display products. Wu Changjiang said that this investment was also suspected of performance fraud and deceiving the public. "Wang Donglei's behavior of manipulating Dehao Runda to increase capital and purchase Weimei Shengjing's own products is suspected of conveying major external interests of the listed company and falsifying performance, which has seriously damaged the interests of the majority of shareholders of the listed company Dehao Runda and has violated criminal law." Wu Changjiang said in the report letter.
According to Wu Changjiang, a criminal complaint and reporting materials have been submitted to the Guangdong Public Security Department and the China Securities Regulatory Commission.
Dehao shares held by Wu Changjiang were frozen
"Wu Changjiang once came to me with this and asked for peace talks based on it." Regarding the contents of Wu Changjiang's report letter and indictment, Wang Donglei told reporters yesterday that he had received it long ago.
Wang Donglei said that the company's investment in Weimei Shengjing has gone through a series of complete evaluations and it is a very good investment. Weimei Shengjing will become China's largest outdoor media publishing platform. And this investment was approved by the company's shareholders' meeting and board of directors. He said that the project is still in the investment stage, so there is no return on investment yet.
Dehao Runda announced on September 30 that Wu Changjiang's entire equity in Dehao Runda has been frozen by the court. Wang Donglei said in an interview with the media that this was not the company freezing Wu Changjiang’s equity. The main reason was that Wu Changjiang owed the agent a debt and the agent froze Wu Changjiang’s equity.
On August 8 this year, NVC Lighting, with Wang Donglei as chairman, announced the removal of founder Wu Changjiang as CEO and executive director, but Wu Changjiang opposed it. Wu Changjiang believes that the company's removal procedure is illegal and has filed a complaint with the Hong Kong Stock Exchange. Subsequently, the internal strife continued to ferment.
On August 29, NVC Lighting held an extraordinary general meeting of shareholders in Hong Kong to vote on the removal of Wu Changjiang. The results showed that 95.84% of all voting shareholders voted in favor of the removal of Wu Changjiang as director and all committees under the board of directors. Wu Changjiang was "kicked out" of the board of directors. After that, Wu Changjiang did not give up and stated that it had filed lawsuits against Wang Donglei in many places.
ANNA