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"In order to achieve the centennial vision", the four directors including the actual controller of Kibing Group resigned collectively!

"In order to achieve the centennial vision", the four directors including the actual controller of Kibing Group resigned collectively!

On the evening of December 5, the glass company Kibing Group announced that Yu Qibing, the founder and actual controller of the company, He Wenjin, the chairman of the board, Yao Peiwu, the secretary of the board of directors, and Hou Yinglan, the president of the Development Research Institute, submitted a written resignation report to the company and resigned as directors of the company.

Kibing Group has a total of six non-independent directors, and four of them have resigned this time. Even rarer is the company's explanation. Yao Peiwu, secretary of the board of directors, said in an interview with the Securities Daily that the resignation of some directors this time is mainly to achieve the centennial vision.

Catch up with the carbon number is somewhat by this reply of Kibing Group

Give Ray

arrive

I was very curious about the "centennial vision" of the four directors of Kibing Group.

"In order to achieve the centennial vision", the four directors including the actual controller of Kibing Group resigned collectively!

It is not particularly uncommon for the main members of the board of directors of Kibing Group to resign en masse. Most of the cases are caused by the change of actual control of the company, and of course, many of them are caused by infighting.

For example, not long ago, the famous Open AI Gong Dou incident was asked by 700 employees

He asked Altman to return to the company and asked the board of directors to resign.

In the Big A

There are also similar cases of palace fighting. The father and son of the actual controller of the Electric Power Research Institute turned against each other in court, and did not realize that his father Hu Delin died suddenly during the period, and the mother and son joined forces to finally grasp the control of the company, and triggered a wave of collective resignations of directors, supervisors and senior executives.

However, the situation of Kibing Group does not belong to a change of control or a palace fight.

Company Director

Secret Yao Peiwu said:

"Kibing Group has no plan to reduce its holdings, and there is no actual control

system

There is a risk of people running away, and there is no arrangement for introducing strategic investors for restructuring.

Kibing Group announced that the resignation of the four directors did not cause the company's board of directors to fall below the legal minimum, nor would it affect the normal operation of the company's production, operation and management. That's true. According to the Company Law, the minimum number of directors of a joint-stock company is five. After the collective resignation of the four directors, Kibing Group still has 2 non-independent directors and 3 independent directors, which just meets the minimum number requirement.

"In order to achieve the centennial vision", the four directors including the actual controller of Kibing Group resigned collectively!

Of the six non-independent directors, only Zhang Baizhong and Zhang Guoming remained, source: Kibing Group's 2022 annual report

Yao Peiwu further explained that the resignation of some directors this time,

Mainly to achieve the centennial vision, through the improvement of the modern enterprise system, under the guidance of world-renowned consultants

Learn from and absorb the successful experience of Western enterprises in the past century, build an efficient and professional board governance structure, create a new type of relationship between the board of directors and managers, and greatly improve the level of corporate governance

All in all, a great thing.

Over the years, Kibing Group has been strengthening the governance of listed companies. For example, at the beginning of the company's listing, the parents of the actual controller, Yu Qibing, were both directors of the group.

His father, Yu Guilin, was born in 1931, with primary school education, and served as the executive director of Ningbo Yongda Decoration Engineering, the executive director of Ningbo Yongda Housing Demolition Co., Ltd., and the director of Zhuzhou Kibing Group Co., Ltd. His mother, Chen Huizhen, born in 1938, was the deputy general manager Chinese of Ningbo Lihua Garment Co., Ltd. and the director of Zhuzhou Kibing Group Co., Ltd.

In 2011, Kibing Group was listed, and Yu Qibing's 80-year-old father became a billionaire in one fell swoop because he indirectly held Kibing Group in Zhangzhou. Now, in order to improve the level of corporate governance, even the actual controller himself has withdrawn from the board of directors of listed companies.

"In order to achieve the centennial vision", the four directors including the actual controller of Kibing Group resigned collectively!

Ningbo Kibing Photovoltaic Technology Co., Ltd

In addition to working in listed companies, Yu Qibing also has a large number of industrial and investment businesses outside the listing system. Among them, there are also a number of companies that have been incorporated in the last year or two.

Some companies outside the listed system controlled by Yu Qibing;Source: Tianyancha

On November 14, Kibing Group issued an announcement on the co-investment and equity transfer of its holding subsidiary, intending to transfer 15.5% and 13.8% of the equity of Kibing Solar to the co-investment of Kibing Solar employees and Ninghai Kibing Keyuan controlled by Yu Qibing, respectively, and the equity transfer price is 3.64 billion yuan with reference to the net assets of the target company confirmed by the evaluation report, and the transfer pricing is carried out according to the registered capital of 1.13/1 yuan, and the transfer price is 560 million yuan and 500 million yuan respectively. As of May 31, 2023, Kibing Solar's total assets were 9.5 billion yuan and its net assets were 3.4 billion yuan.

At the end of the year, the collective resignation of directors, supervisors and senior executives of listed companies occurred frequently. On November 2, the wind power company Funeng Co., Ltd. announced that seven directors, supervisors and senior executives including the company's chairman, vice chairman and general manager collectively resigned. In 2022, Lin Jinben, the controlling shareholder of Funeng Co., Ltd., former secretary of the Party Committee and former chairman of Fujian Energy Group, was expelled from the party for serious violations of law and discipline.

In addition, cross-border photovoltaics

The resignation of Quanwei's technology executive is particularly noteworthy because of his special status as the company's chief financial officer. On October 13, Quanwei Technology announced that Mr. Yuan Hong, the former deputy general manager and former chief financial officer of the company, applied for resignation from the position of deputy general manager and chief financial officer of the company for personal reasons. According to the China Times,

On August 23 this year, Quanwei Technology was issued the "Administrative Penalty Notice" by the Guangdong Securities Regulatory Bureau for inflating business income of 557 million yuan and operating costs of 552 million yuan in 2019 and 344 million yuan in the first half of 2020. However, in 2019 and 2020, Zhong Hongbiao is Quanwei Technology

At that time, he was the chief financial officer, not Yuan Hong.

Editor: Detective Carbon

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