The actual controller of the listed company China Nuclear Huayuan Titanium Dioxide Co., Ltd. (hereinafter referred to as China Nuclear Titanium Dioxide) continued to ferment after the investigation, and its stock price fell miserably on April 15. The state-owned China National Nuclear Corporation issued an urgent statement saying that it had nothing to do with CNNC titanium dioxide.
The actual controller of CNNC titanium dioxide was placed on file for investigation
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The actual controller of CNNC titanium dioxide was placed on file for investigation,
The stock price falls to the limit
CNNC is anxious to dissociate itself from CNNC titanium dioxide because CNNC titanium dioxide has recently been in trouble.
China Nuclear Titanium Dioxide announced on April 12 that Wang Zelong, the actual controller of the company, was investigated by the China Securities Regulatory Commission on suspicion of violating restrictive regulations by transferring China Nuclear Titanium Dioxide's non-public issuance of shares in 2023 and illegal information disclosure.
According to the third quarter report of China Nuclear Titanium Dioxide in 2023, Wang Zelong is the largest shareholder of China Nuclear Titanium Dioxide, holding 33.45% of the shares.
CNNC titanium dioxide said that it has been confirmed that the investigation is an investigation of the actual controller of the company, and the company will continue to pay attention to the progress of the above matters and fulfill its information disclosure obligations in strict accordance with regulatory requirements.
The actual controller was placed on file for investigation, which affected the share price of CNNC titanium dioxide. On April 15, China Nuclear Titanium Dioxide fell to the limit, and the closing stock price was 3.95 yuan, with a total market value of 15.291 billion yuan.
CITIC Securities was filed by the China Securities Regulatory Commission
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CITIC Securities, Haitong Securities
A case was filed for involvement
It is worth noting that the actual controller of China Nuclear Titanium Dioxide was placed on file for investigation, and the matter also involved CITIC Securities and Haitong Securities, which were also filed on the same day.
On April 12, CITIC Securities announced that the company and its wholly-owned subsidiary, CITIC Securities Capital, received a notice from the China Securities Regulatory Commission (CSRC). Haitong Securities also issued an announcement saying that it had received a notice from the China Securities Regulatory Commission.
According to the announcement, the reason why these two well-known securities firms were filed by the CSRC was that "the company was suspected of violating laws and regulations in the process of transferring the non-public issuance of shares of China Nuclear Titanium Dioxide in 2023 in violation of restrictive regulations".
Both brokerages stated in the announcement that they will actively cooperate with the relevant work of the China Securities Regulatory Commission and fulfill their information disclosure obligations in strict accordance with regulatory requirements.
According to public information, China Nuclear Titanium Dioxide will issue A-shares to specific targets in March 2023, raising a total of 5.288 billion yuan and an issue price of 5.92 yuan per share. Among them, CITIC Securities is the sponsor of the project, and Haitong Securities is one of the 16 subscription targets of the project, with a subscription amount of 547 million yuan.
Screenshot of CNNC's statement
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CNNC statement
It has nothing to do with CNNC titanium dioxide
On April 14, China National Nuclear Corporation issued a statement saying that it had no relationship with CNNC titanium dioxide.
CNNC said that in order to avoid confusion and misidentification by the general public and safeguard the legitimate rights and interests of our company, it is hereby declared that CNNC titanium dioxide has no affiliation or equity relationship with our company, nor does it have any investment, cooperation, business and other relationships, and all its actions have nothing to do with our company, and our company does not assume any obligations and responsibilities for any of its actions in accordance with the law.
According to the official website of China National Nuclear Corporation, China National Nuclear Corporation is an important state-owned backbone enterprise established with the approval of the State Council and directly managed by the central government. Tianyancha shows that as of the third quarter of 2023, the asset scale of CNNC has exceeded 1.2 trillion yuan.
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What is the origin of China Nuclear Titanium Dioxide and Wang Zelong?
CNNC Titanium Dioxide is a listed company on the Shenzhen Stock Exchange (stock code: 002145) and is a titanium dioxide manufacturer. Its main products are high-grade rutile titanium dioxide, which are widely used in coatings, plastics, rubber, inks, papermaking and other fields, and are known as "industrial monosodium glutamate".
According to its official website, CNNC Titanium Dioxide was established in 1989, formerly known as the Titanium Dioxide Branch, a second-level independent accounting production unit to which CNNC 404 belongs. In 2007, China Nuclear Titanium Dioxide was listed on the Shenzhen Stock Exchange, but it was on the verge of delisting after only more than two years of listing. After that, China Nuclear Titanium Dioxide was taken over by private entrepreneur Li Jianfeng and embarked on the road of bankruptcy reorganization.
What is the origin of Wang Zelong, who was investigated this time?
In 2019, Wang Zelong spent more than 1.6 billion yuan to take over nuclear titanium dioxide from Li Jianfeng and became the controlling shareholder and actual controller of the company. At that time, "post-95 generation into A-share listed companies" attracted market attention.
According to Forbes China, Wang Zelong was born in a chemical family, and his father Wang Deliang was engaged in chemical trade in his early years and dug the first pot of gold. In 2015, Wang Zelong and his father participated in the merger and reorganization project of Baililian's "snake swallowing elephant" Lomon Titanium Industry, and became one of the major shareholders of the listed company by subscribing to the fixed increase share of the reorganization (188 million shares).
In October 2023, CNNC Titanium Dioxide announced an announcement that the controlling shareholder voluntarily promised not to reduce its shareholding in the company. Wang Zelong voluntarily promised: within 6 months from October 13, 2023 (that is, from October 13, 2023 to April 12, 2024), if the company's stock price is less than 13 yuan per share, I will not reduce my holdings of the company's shares through centralized bidding or block trading in the secondary market.
Source | China News Network