After The Lifting Of The Relationship Between The Two Parties, The Real Controller Of Hui Jie Shares Or Them.

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In June 11th, Hui Jie shares announced that after the company's "concerted action agreement" expired, Lv Xingping and Lin Sheng Chi were both the actual controllers of the company.

The concerted action agreement expired in June 10th, and Lv Xingping and Lin Shengzhi, the controlling shareholder of Hui Jie (002763, SZ), decided not to renew the contract.

However, Lv Xingping and Lin Shengzhi share a very close share. Before becoming concerted people, they were the actual controllers of Hui Jie shares.

This leads to a question. Who is the real controller of Sinai's shares after lifting the relationship of concerted action?

In June 11th, Hui Jie shares announced that after the company's "concerted action agreement" expired, Lv Xingping and Lin Sheng Chi were both the actual controllers of the company.

The lifting of shares after the expiry of the agreement

According to the June 11th announcement, Lv Xingping and Lin Shengzhi, the controlling shareholder of Hui Jie group, signed the "concerted action agreement" on May 29, 2010. The two sides confirmed and declared that the agreement would automatically terminate after the expiration of the agreement and the parties would no longer renew it.

Reporters noted that in August 2007, Lv Xingping and Lin Shengzhi jointly funded the establishment of Shenzhen city man Ni finery knitwear Co., Ltd. (the predecessor of Hui Jie shares), with a shareholding ratio of 51% and 49% respectively.

The prospectus shows that since the establishment of the company, two people have kept consistent actions in making decisions on major matters, and have held the same voting opinions at all previous shareholders' meetings.

In May 29, 2010, Lv Xingping and Lin Shengzhi signed the concerted action agreement.

Judging from this agreement of concerted action, the two sides mainly agreed on the contents of the board meeting, the board's personnel proposal, and the proposal of the shareholders' meeting.

However, the agreement of "concerted action" will expire at the time when the agreement between the two parties is valid until the date of issuance of the public offering and the expiration of 36 months.

In fact, Hui Jie shares were first launched in June 2015.

Although there is no reason to know that Lv Xingping and Lin Shengzhi do not renew the contract, another case is worth paying attention to.

One day after the expiration of the concerted action agreement, in June 11th, 272 million shares of Hui Jie share were lifted, which accounted for 70.0463% of the total share capital of the company.

Among them, Lv Xingping and Lin Shengzhi hold 138 million shares and 133 million shares respectively.

In the prospectus, Lv Xingping and Lin Shengzhi promised to lock down the number of shares held every year within two years after the expiration of the period, the former does not exceed 10% of the shares held, and the latter does not exceed 25% of the shares held.

"The number of shares of unanimous action shall be calculated and consolidated, and no merger calculation will be necessary after the lifting."

Wang Zhibin, a lawyer from Shanghai Ming Lun law firm, told the daily economic news reporter.

Moreover, in the 2017 revision of some provisions of the listed companies' shareholders and the directors and supervisors' holdings of shares, the shareholding of major shareholders and their co owners should be combined in the detailed rules and regulations.

Both sides will strive to maintain stability of the board of directors.

After Lv Xingping and Lin Shengzhi lifted the unanimous relationship, there was another doubt in the matter of Hui Jie shares: who is the real controller? According to the announcement, after the expiration of the agreement on the concerted action, Lv Xingping's shareholding ratio was 35.6%, still the largest shareholder and the actual controller of the company, and Lin Sheng Zhi's shareholding ratio was 34.26%, which is still the second largest shareholder and the actual controller of the company.

As a result, Lv Xingping and Lin Shengzhi are still the actual controllers of the company.

"We believe that the actual controller is in accordance with the regulations, and they are all in compliance with the regulations."

Hui Jie Securities Department staff told reporters that on the one hand, Lv Xingping and Lin Shengzhi two people held more than 30% shares; on the other hand, they had a greater impact on the board of directors, "in fact, their share gap is very small."

The reporter searched the management method of acquisition of listed companies, found that "investors can actually control the share of voting rights of listed companies more than 30%", and "investors can decide the majority of the members of the board of directors of listed companies through the actual control of the voting rights of listed companies" and "investors have the right to vote on the company's shareholders' decisions in a big way", which can be regarded as a controlling right of Listed Companies in the three situations.

However, since Lv Xingping and Lin Shengzhi are both the actual controllers and the shareholding ratio is close, whether the differences between the two sides will affect the stability of the control rights of the listed companies? "If the two sides disagree, then we must see the voting situation at the shareholders' meeting."

The above staff say so.

Wang Zhibin believes that "the two sides have a shareholding ratio close to the fact that the company is actually in a state of no actual controller, and whether it will affect the normal operation of the company, which needs follow-up observation."

Hui Jie shares said that Lv Xingping and Lin Shengzhi will strive to maintain the stability of the third board of directors of the company.

Before the expiration of the current term of the board of directors, there will be no suggestion that there will be significant changes in the current board.