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A shares listed companies farce again, the chairman of the company led a number of directors of the collective resignation.

fengshengyanqi @ 2019/12/23

There are many accidents in the recent A share listed companies. Following the scene of the collective resignation of the storm Group executives, a large number of executives resigned recently.

ST announces the announcement on all directors, some senior managers and supervisors resigning, announcing that the board of directors of the company received the resignation reports of directors, directors and senior managers of Zhong Chengrong, Chen Hui, Chen Zuliang, Zhang Chenwang, Huang Xianmei, Fei Xin and Chen Qi in December 20, 2019, and the board of supervisors of the company received the resignation reports of Huang Zhaoxiong, Huang Zhaoxiong and Xu on the same day.

As for the reason, ST Wai Hai explained in the notice that "in view of the company's holding of shareholders' meeting in December 24, 2019 to consider the motion to remove the incumbent directors and supervisors, the above-mentioned persons decided to resign as directors, senior managers and supervisors of the company." That is to say, the resignation of the above persons is to choose to leave before they are dismissed, rather than waiting to be fired, and to save their face. At the same time, they adopt the attitude of collective resignation to show their protest and dissatisfaction with the company and arouse the attention of all parties.

As a result, this move is more effective. In the less than two hours after the resignation announcement of the executives at ST Wai Hai, the Shenzhen Stock Exchange rushed to ST Wai Hai to pay attention to the letter, demanded to explain the reasons for the resignation of all directors and supervisors, and requested ST Wai Hai to quit her job. Before the resignation report was yet to come into effect, he continued to perform his duties in accordance with the relevant laws, administrative regulations and articles of association, so as to ensure the stability of the daily operation of listed companies and the truthfulness, accuracy and completeness of information disclosure.

ST behind the sea is also a reflection of the company's current chaos. The Zhejiang Ningbo enterprise, formerly known as Wai Hai shares, is mainly engaged in providing construction services for owners such as seawall, river courses, reservoirs, urban flood control and so on. It is known as one of the leading enterprises in the field of modern seabed engineering construction specialization in China.

However, in recent years, the company has fallen into a major shareholder, Wai Hai holdings and the two shareholder Shanghai Millennium Project Cci Capital Ltd (the chairman of the proposed resignation Zhong Chengrong is one of its actual controllers). The two sides have become more and more serious in the direction of enterprise development and capital utilization. The company found that the big shareholder Wai Hai holdings and the real controller Feng Quanhong exceeded the power violation guarantee and occupied the company's funds, which led to the company being put into other risk warning by the Shenzhen Stock Exchange. The short selling of the listing became the ST encircling sea today.

During the period, Wai Hai holding "the relevant directors and supervisors did not fulfill their duties and obligations as chairman and supervisor, and was not suitable to continue to serve as chairman and supervisor of the company". He called for the removal of the incumbent board members. ST Wai Hai, as a listed company, prosecuted the major shareholder, Wai Hai holdings, and Feng Quanhong, who took over the violation of the authority and took up company funds under the leadership of chairman Zhong Chengrong.

In a series of internal fighting, ST encircled the sea. First of all, in the first three quarters of this year, the company's operating income and net profit decreased year-on-year: the operating income was 2 billion 168 million yuan, a year-on-year decrease of 5.77%, and net profit 90 million yuan, a decrease of 51.72% compared with the same period last year. In the past 2016-2018 years, the company has achieved the growth rate of two digit growth in revenue and net profit. Then, on the stock price, the share price of the two market of the company continued to decline, and the management's overweight plan was also suspended. In the current situation, ST wants to go back to the right track again. I am afraid we need to solve the problem of "internal struggle" first.

Personal analysis originating from wind and vitality For reference only.

Public address I D: Fengshengyanqi

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