Two Big Shareholders Deny Both Control. East Lake High Tech Seeks "No Direction".

East Lake high and new (SH:600133) latest price: 9.31 0.12 1.27% market trend, the latest news bulletin of company news, large single tracking capital flow to the position cost stock stock, the excellent stock prediction dragon list, in fact, the change of East Lake's high and new control power was first pmitted through the first big shareholder Katie power.

Katie electric power released the first quarter earnings forecast in April 15th. The reasons for the performance change show that the proportion of voting rights of the company's high and new board of directors in East Lake in 2011 dropped due to the replacement of members of East Lake high tech board of directors and so on, and lost control of East Lake high and new technology.

Because of this, Katie electric power in the first quarter consolidated statement to confirm the loss of control of the current investment earnings, while returning to the previous year's other comprehensive income related to the investment, making its profits significantly increased.

The incident was traced back to the board of directors' re-election at the end of last year.

The East Lake high tech board consists of 9 directors.

In December 31, 2010, Katie, Chen Yisheng, Cheng Jian resigned from the 3 Directors recommended by the electric power company, and were elected by the provisional shareholders' meeting. The 3 Miao Xin, Li Jun and Wang Hanbing recommended by the joint venture group were elected as directors of the company on the same day.

In the newly elected East Lake high tech board, the directors dispatched by Katie electric power reduced from 4 to 1, leaving only the chairman of the board, Luo Tingyuan, while the director of the group voted 3.

It is this fact, together with the statement of Katie electric power, that the East Lake high and new technology is verified to the company's largest shareholder, Katie power and the second largest shareholder, respectively.

The company disclosed the verification results today.

In response, Katie electric responded that Katie power no longer had a majority vote in the East Lake high tech board and lost control of East Lake's high-tech board.

At the same time, considering the fact that the second shareholding groups of East Lake high tech group and its concerted operation share their close share with themselves, they believe that they have lost control of East Lake's high and new technology.

As of March 31st, Katie electric holds 71 million 300 thousand shares of East Lake hi tech, accounting for 14.37%, while the United Group and its subsidiary Wuhan joint venture holding share holding 71 million 220 thousand shares of East Lake hi tech, accounting for 14.36%, has been very close.

However, on the other hand, the other group did not consider themselves to have taken control of East Lake's high technology.

The company said that as of April 21st, the shareholding ratio of the group and its concerted operations was still 14.36%, the second largest shareholder. It currently accounts for 1/3 of the seats in the East Lake high tech board, and no major changes in asset integration have been made in December according to the report of the group in January 20, 2010.

To sum up, according to the 84 requirements of the listed companies' acquisition management measures, the company does not think it has the right to control the East Lake high and new technology.

However, although the shareholding ratio is not quite different now, Katie electric power has a plan to reduce East Lake's high and new technology.

The company said in April 20th this year, it will sell at no less than 8 yuan / share price, not exceeding East Lake high and new 24 million shares.

In accordance with this ceiling, after the completion of Katie power reduction, the shareholding ratio will be reduced to 9.54%.