There Is Another Dispute Over The Real Power Control Of Busen Shares, And The Problem Of Illegal Guarantee Is Still At Stake.

Busen shares fell further. In June 8th, due to the controlling shareholder's pledge, the stock closed on the stock line and the company temporarily suspended its stock.

At the beginning of the year, the dispute over shareholder control has just been settled. Busen shares (002569, SZ) are facing a series of risks caused by the suspected illegal guarantee of the original real controller.

In June 8th, Busen shares issued a series of announcements, which disclosed that the 5 bank accounts of the company were frozen and the total sum of funds was 18 million 832 thousand and 300 yuan as a result of the guarantee of the private lending dispute involving the original controller Xu Maodong and his company. The company said that the above guarantee matters had not been found by the board of directors and shareholders' meetings, and the company had reported it to the public security department.

In addition, because of other borrowing cases, the 19 million 400 thousand shares held by Busen shareholding shareholder, Shanghai Rui Wei asset management partnership (limited partnership) (hereinafter referred to as Shanghai Rui Wei), were frozen by the Zhejiang Provincial Higher People's court, and the frozen shares were 100% of the shares held by them, accounting for 13.86% of the total share capital of the company.

Or breach of warranty

According to the relevant announcement, Busen shares were received in June 1, 2018 by the intermediate people's Court of Huzhou, Zhejiang (hereinafter referred to as the Huzhou intermediate people's court), which is numbered (2018), 38, "civil ruling", "civil indictment", court summons and filing materials, etc. in Zhejiang and 05 early Republic of China.

In May 2018, the Huzhou Central Academy of Huzhou accepted the case of Deqing County small and Medium Enterprise Financial Service Center Co., Ltd. v. Tianma bearing group Limited by Share Ltd, Kashi Xinghe Venture Capital Co., Ltd., Zhejiang Busen apparel Limited by Share Ltd, Beijing Star River World Group Co., Beijing Xinghe Group Co., Ltd., Huoerguosi eating music Venture Capital Co., Ltd., and Xu Maodong's private lending dispute.

In October 27, 2017, the Limited by Share Ltd of Tianma bearing group under the control of the real controller Xu Maodong and the Deqing County SME financial service center Limited signed a loan guarantee contract. The Tianma bearing group Limited by Share Ltd borrowed 100 million yuan from the Deqing County SME Finance Service Center Co., Ltd., and the loan period was agreed in October 27, 2017 ~2017 December 26th. The lending rate is 18%.

According to the loan guarantee contract, Busen shares are also guaranteed.

In response, Busen shares issued a notice in the evening of June 8th, saying that the company had never held a board meeting and shareholders' meeting on the above guarantee matters, nor did the company provide any evidence for approval of the guarantee. At the same time, there is no record of any such warranty in the company's internal printing record, and there is no signature of the legal representative in the above guarantee document.

It is said that Busen shares can not judge whether the "Busen shares" seal in the guarantee document is a statutory seal of the company. It is not ruled out that someone may be suspected of falsifying the official seal of the listed company to produce the relevant documents without permission. At the same time, it does not exclude the possibility of the relevant persons using the convenience of controlling the seal of the listed company, colluding internally and colludedly, and Issuing the guarantee documents privately.

It is reported that Busen shares have reported to the public security organs on suspicion of being forged, embezzled and so on, and received a receipt from the public security authorities in June 8th.

Two "lying gun" asked.

Reporters noted that in October 22, 2017, the Chongqing saw Han Technology Co., Ltd. (hereinafter referred to as the security technology) purchased 16% stake in Busen shares from Shanghai Rui Wei for 1 billion 66 million yuan, and accepted the vote of 13.86% of Shanghai Rui Wei. It became the controlling shareholder of the total control of the 29.86% vote of the listed company. Zhao Chunxia, a technology controller, replaced the real controller of Busen Busen.

The guarantee took place in October 27th. That is to say, during the period of the above guarantee, the real control power of Busen shares is no longer in the hands of Xu Maodong. Why did the seal still go unused? In June 8th, the reporter called Busen shares for public telephone consultation, but the phone was never answered.

Related securities industry lawyers told the "daily economic news" reporter, "it is difficult to judge whether the guarantee contract is effective or not. It depends on whether the external creditors are malicious or not, and whether they should give full attention to their obligations, rather than whether the shareholders' meeting will be adopted as a condition for the implementation of external guarantees."

In addition, because of other contract disputes involving Xu Maodong's enterprises, all of Shanghai's shareholding shareholder, Shanghai Rui Wei, has all been frozen. It is worth mentioning that in March this year, the new real controller Zhao Chunxia had just taken the share of the Shanghai Rui venture partnership from Xu Maodong and gained 13.86% of the listed company in Shanghai.

According to the company's disclosure, the guarantee matter of Shanghai Rui Wei's lawsuit also occurred during Xu Maodong's control of Shanghai Rui and listed companies, and Xu Maodong did not disclose the guarantee to the spanferee and the listed company when spanferring the assets share.

The continuous judicial risk of Busen shares has also attracted the attention of regulators. In June 6th, the Zhejiang Supervision Bureau of the China Securities Regulatory Commission issued the letter of concern, requiring the company to disclose the details of the accounts frozen by the judiciary, the specific circumstances of the existing debts, the impact of the company's bank accounts being frozen by the judiciary on the production and operation of the company, and the measures to be taken. The basic situation and current situation of operation and capital chain of Shanghai science and Technology Co., Ltd. Up to now, Busen shares have not yet replied to the above questions.

Former real controller was investigated

In fact, from a series of announcements issued by Busen shares, we can see that the above contract disputes arise from the former real controller Xu Maodong and its controlled enterprises, and the most deeply implicated is Zhao Chunxia, the current controller of the company, whose two shares of the spanferee are all in violation of the guarantee.

Reporters noted that in April 27th, Xu Maodong and its controlled *ST Tianma (002122, SZ) were investigated by the SFC on suspicion of violating the relevant laws and regulations such as the securities law. In April 28th, the *ST Tianma announcement was issued by the accounting firm by the accounting firm for an audit report which was unable to express its opinions. After that, it was implemented a "delisting risk warning". After that, the Shenzhen Stock Exchange issued a letter of concern. In May 2nd, the stock was changed from Tianma shares to *ST Tianma.

In the evening of May 25th, 5 bank accounts of *ST Tianma announcement were frozen and the amount was frozen at 618 thousand yuan. At the same time, it also hints at risks. It is said that the Commission's investigation is still in progress. If there is a serious violation of the law, the stock market may be warned of the risk of delisting and suspend its listing.

Up to now, due to the application of Huarong securities, Kashi Xinghe, Xinghe world and Xu Maodong account have been frozen by the court and allocated about 156 million yuan. *ST Tianma controlling shareholder said that all 356 million shares held by Kashi Xinghe, accounting for 29.97% of the total share capital of the company, have been frozen.

Related industry to reporters pointed out, "at present, although Busen shares identified seal seal, embezzlement, but in view of the Xu Maodong capital chain seems to have broken, the company or will be partially responsible for the above guarantee, but if the seal belongs to private engraved, do not rule out the relationship between litigation to clear the relationship."

Affected by the relevant litigation, Busen shares fell further. In June 8th, due to the controlling shareholder's pledge, the stock closed on the stock line and the company temporarily suspended its stock.

Busen shares pointed out that whether or not Shanghai Rui is involved in debt disputes, and whether its holding shares of Busen shares will be auctioned or sold by law, once Ms. Zhao Chunxia's stake in Busen shares has been jeopardized by the number of shares held by Shanghai Rui, and MS. Zhao Chunxia's control over Busen shares of listed companies, MS Zhao Chunxia and Ann technologies will include, but are not limited to, grade two. market Increase the holding, spanfer of agreements, block spanactions, seek new concerted persons and other legal compliance to increase Busen shares, in order to maintain the status of Zhao Chunxia Busen's actual controller.