Meyer Is Deeply Trapped In "Reporting Door", And Equity Pfer Is The Main Business.

For Meyer, it's not easy recently.

In late August, a person claiming to be an employee of the company posted a report on the Internet to report that Yang Wensun, a legal representative, had emptied the assets of the listed company, and the company's share price also plummeted by 30%.

Although the clarification announcement was released on Thursday, it was "unclear" and investors remained skeptical and did not explain the key issues.

Yang Wensun, deputy director of the company, deputy director general, and legal representative, have expressed their views.

Encounter "reporting door"

Since April this year, through the rumors of "strong wine backdoor" and the popularity of Wang Yawei's Chinese Cathay fund, Meyer has won over 50% in three months.

However, the story is always over, and a letter on the Internet has brought beauty to the bottom.

A post titled "Yang Wensun, the sinners who broke up Meyer" has been widely circulated, pointing directly to Yang Wensun, chairman and chairman of the company.

The poster claimed to be an employee of Meira, and listed Yang Wensun's "three sins": first, he took advantage of his position to be suspected of emptying the assets of the listed company; the two was Yang's poor management and investment in real estate; third, he exposed the stock of Yang Wensun.

"This misled the small and medium-sized shareholders, and mistakenly thought that the listed company's equity pfer on the property exchange is the management behavior, but it has nothing to do with the management."

Xu Leihua said that China Construction Bank has 79.94% equity interest in the group, which is the largest shareholder of the group.

The pfer of shares is a major shareholder matter.

It is understood that before 2000, the United States and Beijing Meyer group total loans from the Construction Bank 210 million yuan.

Later, due to the inability to repay, according to relevant state policies, CCB carried out debt to equity swap for some non stripping loans.

In December 2002, CCB completed the debt to equity swap and became the largest shareholder of the Meyer group, holding 79.94% equity of the group. The Huangshi SASAC is the second largest shareholder.

Xu Leihua said that CCB sent 6 directors to the board of directors of the company, and 3 directors were appointed by Huangshi state assets.

In accordance with the articles of association of the company, the resolution of the board of directors must be approved by more than half of the directors. However, since the CCB does not participate in the company's business affairs, none of the business matters can be submitted to the board of directors for discussion. In the past 9 years, the management affairs of the company will be discussed collectively by the manager of the company.

In June this year, CCB listed shares in the Guangxi equity exchange, and its withdrawal made a step towards a complete corporate governance structure of the company.

Yang Wensun clarified rumors

Yang Wensun said: "if it is only a report, on the basis of the company's self-examination, the Discipline Inspection Commission and the regulatory authorities will come to investigate and not be angry with the crowd.

The question is also easy to handle. I say that I can destroy Meyer, and do not need to explain more.

Although the company is not so good at present, the problem of eating is solved by tens of thousands of people.

I do not believe this is the report of the employees of the company. From the point of view of operational methods, our company does not have such a talent. This storm is not as simple as it seems.

My task now is to stabilize the workforce and do well in production and operation, according to the requirements of the Huangshi municipal government.

Regarding the pfer of the 79.94% equity interest of Meyer group company by CCB, Yang Wensun said that CCB could not participate in the business activities of the enterprises under the restrictions of banking regulations.

At present, there are 9 members of the board of directors of Meyer group, of which 6 are CCB personnel.

When it comes to major business matters, the members of the board of directors of the CCB can not stand out, and the management of the company bears huge risks.

For example, Meyer is already a qualified supplier of military uniform, but at present, the equipment of the company can not fully meet the production tasks of military uniform, and it needs to invest in the construction of new factories. However, the board of directors is unable to make a statement, which obviously affects the development of Meyer.

Yang Wensun believes that in order to improve the corporate governance structure of the company,

Yang Wensun revealed that the withdrawal of China Construction Bank from the Meyer group is related to the resettlement of tens of thousands of employees and the rise and fall of the first well-known trademarks in China. The SASAC and the CCB head office have the responsibility to make some requests to the bidders.

As for the paction price, it is not simply sold at 200 million yuan. At present, the net assets of the company are minus 200 million yuan. According to the requirements of the Huangshi municipal SASAC, the pferee will eventually have to pay 100 million yuan for the resettlement of workers, and repay the more than 200 million yuan foreign debt of the local government by the company (the government supports the payment by the Meyer group to the joint stock company), plus the purchase of the Hubei branch of the Construction Bank, which owns more than 200 million yuan of equity, and the pferee must pay 500 million yuan to 600 million yuan in real terms.

Speaking of Meyer brand, Yang Wensun said: "we can go to the factory to see, although the Mid Autumn Festival holiday, but Mei Er Ya employees also need to work overtime.

On the Internet, Meyer has no store in Wuhan, so it's best to go round to Wuhan.

In the past, Meyer was mainly engaged in OEM processing in foreign markets. In 2003, the domestic brand income of the company was only 65 million yuan, while the domestic brand income in 2010 was about 190 million yuan, and the specialty store rose from 30 in 2003 to 254 in 2010.

Although the development speed of the company is not ideal, it is realized in the case of heavy debts, serious lack of funds, and even very difficult operation decisions. It is more difficult to know that this process is from scratch. "

"March this year, Meyer won the seventh China clothing brand year.

An unclear announcement

In this regard, Meyer issued a Clarification Announcement in September 8th, giving Yang Wensun a very high evaluation, saying that he led the management team to a bankrupt enterprise group out of the predicament, successfully resolved the legacy of the history of the company to occupy the listed company's non operating capital of 240 million yuan.

At the same time, it indicates that the company is engaged in some parts of the overseas market's clothing OEM processing business, and the OEM processing business has signed the processing contract directly with foreign businessmen, nor does it exist the so-called "pfer order" phenomenon.

At the same time, the pfer of stock ownership is carried out in accordance with the procedures prescribed by the relevant laws and regulations of the state, and there is no "personal directing behavior".

However, in this announcement, there is no mention of a number of key issues.

Such as Yang Wensun's family members in the company's duties, especially whether Yang's wife Hu Jian is the general manager of Mei Hong Company.

At the same time, why the pfer of shares is not in Hubei, but in the Guangxi Beibu exchange, which is separated by several provinces, the announcement did not explain.

Yang Wensun himself in an interview with the media, said: "if it is only a report, on the basis of the company's self-examination, the Discipline Inspection Commission and the regulatory authorities will come to investigate.

I do not believe this is the report of the staff of Meyer. From the point of view of operational methods, our company has no such talent.

Profit in the first half of 18 million

Net post and some investors also put forward on the Internet, saying that the current management team of Meyer inferior to "brand" such a good brand, and "YOUNGOR" and other brands, far from it.

"In 2002, the company was on the verge of bankruptcy, and in the first half of this year, the group realized.

Public information shows that in 2002, the Huangshi municipal government adjusted the leading group of the Meyer group, and Yang Wensun and others took office.

At that time, 240 million of Maiya shares were occupied by Maier group. The company was owed 100 million yuan debt due to GL Asia Mauritius second limited. The assets were all sealed up and the company was on the verge of bankruptcy.

Huangshi City SASAC introduced that the Huangshi municipal government helped Meyer group to repay the large shareholders' occupation of the listed companies' non operating funds, and the strong card company invested in acquiring the claims of GL Asia Mauritius second limited.

Xu Leihua said that after 2002, the company changed the strategy of foreign trade in the past, and implemented the pformation of pure processing OEM enterprises to brand management enterprises.

Data comparison shows that in 2002, the sales volume of group company was only 450 million yuan, which exceeded 1 billion 100 million yuan last year, and sales in the first half of this year exceeded 650 million yuan.

In the first half of the year, the operating profit of Maer stock company reached 18 million yuan.

Share pfer is the main business.

Net posts and netizens also suggested that the sale price of the underlying stock was only 210 million yuan, which was suspected of being sold at a low price. The Huangshi SASAC and the company did not have the determination to make the main business.

Insiders said that the CCB listed the pfer of shares, the tender price of 210 million yuan, which is CCB's initial debt to share prices, the CCB requires that the bottom must be recovered.

Huangshi SASAC also explicitly requested that in addition to the equity pfer payment of the CCB, the acquirer should pay more than 100 million yuan for the resettlement of more than 9000 employees of the Meyer group, and also bear the funds of the local government subsidized by the Meyer group to repay more than 2 billion of the listed companies.

In this way, the acquirer will have to pay at least five hundred million or six hundred million yuan to complete the acquisition.

"Selling cheap is sheer nonsense."

The relevant government officials said that the government has rich experience and perfect mechanism in handling the pfer of state-owned assets, and it is impossible to sell the listed companies at a low price.

"The decision of the Huangshi municipal Party committee and the municipal government is to make the main business of Meyer." the pfer of the shares, the SASAC hired a financial adviser to conduct a due diligence investigation of the bidders, and reviewed the development of the investment and financing plan and implementation plan.

Xu Leihua said that at present, Jiangyin Zhenxin textile and other enterprises are participating in bidding.

Partners participate in bidding

And the three companies participating in the stock bidding of Meyer also caused market concern, namely, drow Holdings Limited, Chinese innovation group Shanghai science and Technology Co., Ltd. and Zhenxin wool textile mill in Jiangyin.

Neither is the liquor company previously rumored, nor is it the most popular mining company in the market. Among them, the Zhen Xinmao textile mill in Jiangyin is a fabric supplier of Meyer, while Chinese technology has some business contacts with Meyer.

It is mentioned in the letter that Hu yangsun's wife Hu Jian is responsible for the sales of the company, while the Zhenxin wool textile mill in Jiangyin and the Chinese technology and the Yang family belong to the long-term cooperative partnership.