Lost 50 billion? Baoneng reports that state-owned asset shareholders are suspected of manipulating the securities market. State owned assets | shareholders |? Bao
Following the decision of state-owned shareholder Torch Group to dismiss four directors nominated by "Baoneng" shareholder Zhongshan Runtian Investment Co., Ltd. on July 7th, Zhongshan Runtian issued a statement on the official website of Baoneng Group to retaliate. At the same time, it reported that state-owned shareholders such as Torch Group were suspected of false litigation and manipulating the securities market, seriously damaging the legitimate rights and interests of Zhongju High tech Company, shareholders, and investors.
The major shareholder intends to dismiss the director of Baoneng Group
Zhongju High tech announced on the evening of the 7th that it plans to hold the first extraordinary general meeting of shareholders for 2023 on the 24th to review the proposal to dismiss four directors, including He Hua, Huang Wei, Cao Jianjun, and Zhou Yanmei, and elect Liang Daheng, Lin Ying, Liu Gorui, and Liu Gehui as non independent directors of the company.
The initiators of this shareholder meeting include three shareholders of Zhongju High tech, including Zhongshan Torch Group Co., Ltd., Shanghai Dinghui Junyu Investment Partnership, and Jiaxing Dinghui Junye Equity Investment Partnership. These three shareholders are concerted actors and currently hold a total of 129 million shares of Zhongju High tech, with a shareholding ratio of 16.42%.
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Zhongju Gaoxin's shareholder meeting for restructuring the board of directors was not approved by the company's board of directors, but was convened by the company's supervisory board.
The current board of directors of Zhongju High tech consists of three independent directors and six non independent directors. Among the six non independent directors, Baoneng holds four seats. Therefore, Baoneng actually holds control of the company's board of directors. The four directors who were requested to be dismissed this time all have a background in Baoneng.
Zhongju High tech stated that due to the debt issues of its shareholder Zhongshan Runtian and its affiliated parties, Zhongshan Runtian's shares in the company continue to be passively reduced and are no longer the largest shareholder of the company. The directors recommended or affiliated with Ms. He Hua, Mr. Huang Wei, Mr. Cao Jianjun, and Ms. Zhou Yanmei are no longer suitable to serve as non independent directors of the company.
Baoneng retaliates and reports that state-owned shareholders are suspected of manipulating the securities market
![Lost 50 billion? Baoneng reports that state-owned asset shareholders are suspected of manipulating the securities market. State owned assets | shareholders |? Bao](https://a5qu.com/upload/images/59b4c67c39366275e54e5372ffeda4c5.jpg)
On July 12th, Zhongshan Runtian issued a statement on the official website of Baoneng Group to retaliate, while reporting that state-owned shareholders such as Torch Group were suspected of false litigation and manipulating the securities market, resulting in huge economic losses of about 50 billion yuan for Zhongju High tech Company, shareholders, and investors.
The statement also stated that Zheng Yizhao, the current supervisor of Zhongju High tech Company, violated the provisions of the company's articles of association and the rules of procedure of the supervisory meeting by convening a temporary supervisory board on his own. In the absence of the current supervisor Song Weiyang, he collaborated with the current supervisor Mo Hongli to review relevant proposals without authorization, made decisions in violation of regulations, and publicly announced that this violation seriously affected the normal operation of the company.