Ningbo Hundred China And Xu Xiang Get On The Big Business.

The collapse of the Xu Xiang family empire has stirred up thousands of waves in the A-share market, and Ningbo's A is in the eye of public opinion.

In less than two years, the Xu Xiang family spent hundreds of millions of yuan, making use of all kinds of capital means to deceive the world, arranged a step by step of its confidant stationed in Ningbo, and made its father Xu Bailiang succeed.

Once known as a pioneer in Ningbo (100 Chinese predecessors), it was also a hit by the concept of "Chai hee". But now it is in crisis because of the "Xu Xiang incident".

With the loss of capital games staged by the Xu Xiang family, if the shareholding of the first, second major shareholders of the company is frozen, will there be any change in the management of Ningbo's 100 companies, how the company's business will develop and whether it will usher in a new owner in the future? A series of problems show that Ningbo's hundred Chinese seem to be facing a new crisis.

Ningbo Zhong Bai has a relationship with Xu Xiang and starts from a judicial auction of equity in early 2014.

At that time, Ningbo's 100 largest shareholder, Harbin Institute of Technology Octopus Group Co., Ltd. (hereinafter referred to as the "octopus group"), because of the dispute over the equity pledge contract, made the 15.69% stake held by the listed company frozen in June 14, 2013. In November, the former chairman of the board of directors and general manager Gong Dongsheng was detained for examination by the Yunnan Public Security Bureau directly under the Public Security Bureau for allegedly false registration of capital.

It is such a problem company that has attracted the attention of the Xu Xiang family.

Due to the failure of the octopus group to perform the obligation of paying money within the time limit, the shares held by the octopus group were forced to be sold and the right side of the plate was Shanghai Ze Tian investment development limited, which was controlled by Xu Xiang's father, Xu Bailiang (hereinafter referred to as "Shanghai Ze Tim").

In January 24, 2014, the octopus Group signed a stock pfer agreement with Shanghai Ze Tian. Xu Bailiang spent about 9.1 yuan per share at the agreed price of about $320 million, which was pfered to Ningbo 100 shares owned by the original Octopus group, and became the second largest shareholder in Ningbo by 15.69% stake.

It should be noted that in the initial change of interest, Shanghai Ze added that the purpose of the pferable shares was to get a better equity investment income. However, from the result of gradually controlling the control of listed companies, the Xu Xiang family lied to the market from the beginning.

Although since then, Ningbo's largest shareholder YOUNGOR has been reduced, Shanghai Ze Tim has become the largest shareholder of the company passively, but because of its limited speaking power on board directors,

The proportion is not high and can not dominate the general meeting of shareholders. Therefore, Shanghai Ze Tian is not the controlling shareholder in Ningbo. In the 2014 annual report, Ningbo Zhong Bai also said that the company had no controlling shareholders and actual controllers.

It is precisely because of this that the Xu Xiang family began to plan how to really win the position of controlling shareholder in Ningbo.

In fact, in order to win control over Ningbo, the Xu Xiang family still has a lot of trouble to do.

Less than a month after the announcement of the change of interest in Shanghai Ze Ze, the resignation report was submitted by the director of Ningbo Zhong Bai Yuan and Zeng Ling Guo. The reason is "to meet the needs of the company's management".

On the same day, on the same day, Shanghai Ze Ze made use of the position of the major shareholder, and proposed four provisional motions. One of them was about the proposal to remove the director of Gong Dongsheng company, and the other three was the proposal to add the director of the election company.

The three directors of Shanghai Ze Tian are Xu Jun, Lu Yongzhi and Shi Zhenwei, respectively. It is worth noting that these three people all have the background of Shanghai Zai Xi investment and have worked in Xu Xiang's company.

And in November 4th of this year, Ningbo Zhong Bai once said in a statement of explanation issued by Xu Xiang, "Chairman Xu Jun and the actual controller Xu Bailiang are unable to get in touch for the time being".

Thus it can be seen that Xu Jun, who was originally nominated by Shanghai Ze Tian, could be regarded as the confidant of Xu Xiang family.

At the subsequent shareholders' meeting, three of them successfully entered the board of directors of the company, which also laid the foreshadowing for the success of the Xu Xiang family in Ningbo.

In April 15, 2015, Ningbo completed the change of board of directors and the nine board seats of Ningbo's 100 directors. Apart from Huang Yanshui, the other eight people were related to Chai hee or Xu Xiang. They belonged to Xu Xiang department, and even three independent directors acted as independent directors in Daheng technology of listed companies. The actual controller of Daheng technology was Xu Xiang's mother Zheng Suzhen.

It is worth noting that none of the three directors who voted against the board of directors last year could stay at the incumbent board. Guo Wanda, the independent director who abstained from voting, resigned soon after that, while Huang Yanshui, who voted for the vote, stayed.

Because the successful recommendation of the elected director is more than half of the board members of the listed company, Shanghai Ze Tian is considered to be the controlling shareholder in Ningbo, and Xu Bailiang has become the real controller of Ningbo.

Shanghai Ze Ze only managed less than 16% stake in Ningbo successfully, and obviously has Zhu Renbao's two shareholder's support.

In the evening of July 17, 2014,

According to the announcement, YOUNGOR, the second largest shareholder of the company, signed a share pfer agreement with the natural person Zhu Ren Bao, pferring all the remaining shares of the listed company, accounting for 8.42% of the total share capital of the company, and the total pfer amount was about 227 million yuan. The name of the natural person Zhu Renbao appeared for the first time in the capital market.

Previously, almost no capital in the market, Zhu Ren Bao suddenly took out 227 million yuan to accept the offer.

As the two shareholder in Ningbo, and from the only public information, Zhu Ren Bao, who was born in 1942, was already 72 years old when he received the offer. In the early days, the 70 year old man came to Ningbo with hundreds of millions of money.

After Zhu Renbao became the second largest shareholder in Ningbo, the first thing to do was to recall Zhang Shuhui, director of Ningbo Zhong Bai Yuan, and nominate Shao Chang as director of the company. The former was leading the other two directors to openly oppose the chairman of Zai Xi and chairman of the company as well as the general manager of the company.

Zhu Ren Bao, who has just become one of the two hundred shareholders in Ningbo, has not yet fully understood the business principles and management decisions of the listed companies in the market. In the light of the intention of equity investment, he suddenly resorted to killing, and the market was suspicious of this.

Dramatically, when the market speculated on Zhu's intention, he immediately revoked the motion shortly after he submitted the bill. After that, he did not move any more, and the farce was gradually forgotten.

However, with the recent holding of Zhu Ren Bao's shares by the Ministry of public security, the answer to the question seemed to have found the answer. According to the insiders, Zhu Ren Bao is probably a "vest" of the Xu Xiang family in Ningbo Zhong Bai, with the purpose of holding shares for the Xu Xiang family and achieving the purpose of controlling the overall situation.

Just as the Xu Xiang family took the position of hundreds of real controlling people in Ningbo and thus could make some capital operation with the help of this platform, Xu Xiang was arrested and stopped all illusions, and the impact of events on Ningbo's 100 stocks such as Xu Xiang's concept stocks is not limited to short-term stock price declines. It may also have a series of effects on the future operation of the company.

"The shareholding of 100 shareholders in Ningbo has been frozen. At the moment, there is no indication of the freeze. For the listed companies, the worst result of shareholders' equity freeze is shareholder changes, which may involve compulsory selling and other legal obligations."

Wu Lijun, lawyer of Shanghai Oriental Cambridge law firm, said.

The change of the actual controller will have a great impact on the strategic decision of the listed company. Another notable problem is that there may be a certain relationship between Shanghai Ze Tian and Zhu Ren Bao, but it has not been disclosed. This is also considered by the market to be a proxy for the alleged violation, which may have a certain impact on Ningbo's 100%.

"There may be a concerted action relationship between the major shareholder and the two shareholder. The undisclosed relationship will constitute a false statement, but it will not affect the legality of the shareholding."

Wang Zhibin, a lawyer of Jay Sai law firm in Shanghai, said: "if the resolution of the shareholders' meeting or the resolution of the board of directors that has avoided the voting has not been avoided because of the concealment of the action relationship between the two parties, the voting procedure of the corresponding resolution shall be illegal, and the validity of the resolution shall be doubtful.

Since he became the second largest shareholder, the shareholders' meeting did not consider any motion that should be avoided by major shareholder Shanghai Ze Tian. At the same time, Wu Lijun also said that shareholders did not disclose information because they were suspected of acting instead of information disclosure. They would not be affected by shareholders' deliberations on the election of directors.

"If it is really suspected of violating the rules, the final punishment should be individual."

Wu Lijun said that for the hundreds of directors in Ningbo, the board members are basically the Xu Xiang department. If they are faced with changes in the controlling shareholders and actual controllers, the current board of directors and management will be faced with a shuffle.

In response to the above questions, the Beijing Commercial Daily reporter called Ningbo 100 securities affairs representative, but the other side said, "in a short time, the company does not accept the interview, because there are many things we do not know."

When asked whether the company knew the relationship between Xu Bailiang and Xu Xiang in advance, the other side replied, "the company did not know".

At the same time, the securities representative also said that Ningbo 100 is currently operating normally, and all relevant information is based on the announcement.