China Fund News Amman
For manipulating the securities market, the 51-year-old chairman of a listed company was sentenced!
After trading on April 15, Shangwei Co., Ltd. announced that Li Guangsheng, the controlling shareholder and actual controller of the company, was sentenced to three years and ten months in prison and fined 7 million yuan for the crime of manipulating the securities market.
Jiang Xiangdong, then secretary of the board of directors, was also sentenced to three years in prison, suspended for four years, and fined 100,000 yuan.
At the same time, Shangwei shares announced that because the company's chairman and general manager Li Guangsheng can not perform his duties normally for the time being, more than half of the company's directors are elected, during the period when Li Guangsheng is unable to perform his duties, the company's director Huang Jinxi will act as the chairman, and the company's deputy general manager Sheng Yewu will act as the general manager.
The brothers went to jail
According to public information, Li Guangsheng is 51 years old and is the chairman, general manager, legal representative and non-independent director of Shangwei Co., Ltd. As of September 30, 2023, Li Guangsheng directly held 87,721,600 shares of Shangwei, accounting for 14.11% of the company's total share capital, making him the second largest shareholder of the company.
It is worth noting that the largest shareholder is Li Guangyuan, with a shareholding ratio of 22.44%. According to the announcement disclosed by Shangwei in the early years, in June 2016, Li Guangyuan was sentenced to 11 years in prison by the Yichang Intermediate People's Court for committing the crime of offering bribes, offering bribes and falsely issuing special VAT invoices. Li Guangsheng and Li Guangyuan are brothers.
The 50-year-old secretary of the board of directors was given a suspended sentence
Along with the current actual controller Li Guangsheng, Jiang Xiangdong, the secretary of the board of directors at the time, was also sentenced. According to the announcement, Jiang Xiangdong was also sentenced to three years in prison, suspended for four years, and fined 100,000 yuan for the crime of manipulating the securities market.
According to public information, Jiang Xiangdong, born in 1974, was the head of the IT system management department of Shenzhen Foxconn Technology Group, and later joined the company as the director of the information electronic management department. It is understood that Jiang Xiangdong has served as the company's secretary since 2008, and helped the company complete the listing on the main board in 2012, until June 1, 2022, Jiang Xiangdong suddenly resigned for personal reasons.
Subsequently, on June 6, 2022, Shangwei Co., Ltd. received a notice from the family of Li Guangsheng, the controlling shareholder and actual controller of the company, that Li Guangsheng was taken into criminal detention by the Huzhou Municipal Public Security Bureau on suspicion of manipulating the securities and futures markets.
Change of controlling shareholder
On March 29, Shangwei disclosed that Guoyuan Securities filed a lawsuit against the company's shareholders for the default of stock pledge financing and reminded that there was a risk of share default disposal in the future.
According to the announcement, Guoyuan Securities Co., Ltd. has filed a lawsuit with the Hefei Intermediate People's Court for the breach of the pledge financing contract of the company's shareholder Li Guangyuan.
According to the announcement of Shangwei shares, in view of the fact that some of Li Guangyuan's share pledge has expired and failed to repay the debts on time and constitutes a business default, it has been determined that Sichuan Development Asset Management Co., Ltd., Leshan State-owned Assets Investment and Operation (Group) Co., Ltd., Leshan High-tech Innovation Technology Development Group Co., Ltd., Chengdu Zujing Enterprise Management Co., Ltd. jointly invested in the establishment of Chengle Juli Phase III Enterprise Management Consulting Services (Chengdu) Partnership (Limited Partnership), and the partnership intends to acquire all of Li Guangyuan's claims and collect and dispose of the debts.
At present, the above-mentioned partnership has been established and is communicating with Guoyuan Securities to promote the debt transfer agreement and other related matters related to the plan.
According to the results of the system query of China Securities Depository and Clearing Co., Ltd. Shanghai Branch, the number of shares pledged by Li Guangyuan in Guoyuan Securities is 55.2 million shares, accounting for 41.43% of the total shares of the company and 8.88% of the company's total share capital. Among the creditor restructuring parties, Leshan High-tech Innovation Technology Development Group Co., Ltd. is the third largest shareholder of Shangwei shares, holding 10.98% of the shares.
It is worth noting that Shangwei shares disclosed on April 4, 2023 the "Pre-disclosure Announcement on the Passive Reduction of Part of the Shares by Shareholders Holding More than 5% of the Shares", stating that the stock pledge business of the company's shares held by the company's shareholder Li Guangyuan as collateral will be subject to compulsory disposal procedures by Guoyuan Securities in accordance with the agreement. At that time, the stock price was still around 6 yuan / share, today, Shangwei shares once hit the fall limit, as of the close, closed at 4.3 yuan / share.
As the share price of Shangwei shares fell below the early warning line of share pledge again, and the two actual controllers are in prison, whether the controlling shareholder will change and who will take over the order, everything is not yet known.