A share and see God operation!
Yuan Zhongxue, the actual controller of the soft holdings of the listed company,
Since mysteriously resigning as chairman and director of the company last year,
Recently, he wanted to give up his actual control over the soft holding share, and it was at a price of "0 yuan".
On August 10, Soft Holdings issued an announcement that Yuan Zhongxue, the controlling shareholder and actual controller of the Company, signed the Voting Rights Proxy Agreement with Xiwan Software on August 9, 2019, and Yuan Zhongxue entrusted the voting rights of the company's shares 145308486 shares (accounting for 15.56% of the company's total share capital) held by him to Qingdao Xiwan Not Big Software Service Co., Ltd. (hereinafter referred to as "Xiwan Software").
According to the agreement between the two parties, the voting rights delegation period shall be reduced from the effective date of this agreement to the date when Yuan Zhongxue's share of soft holdings is reduced to 6%, but the maximum period is not more than 18 months.
During the entrustment period, Yuan Zhongxue no longer exercises the voting rights of shareholders and only enjoys the shareholders' right to property income.
West Bay Software, on the other hand, will become the single largest shareholder with voting rights in Soft Holdings without paying the transaction consideration.
According to the shareholding structure of West Bay Software, the small enterprise in West Bay holds 75% of the shares, while li Zhaonian holds 80% of the shares and Yang Haoyong holds 20% of the shares of the enterprise.
In this way, Li Zhaonian and Yang Haoyong have become the actual controllers of listed companies without spending a penny!
More notably, Yang Haoyong has a more eye-catching identity,
He is the CEO of Cheduoduo Group and the founder of Guazi Used Cars and Edamame New Cars.
Li Zhaonian is Yang Haoyong's father-in-law, and the two sides are acting in concert.
(Image source: Figureworm)
In addition, according to the agreement, in the next 18 months, for the 9.56% shares that Yuan Zhongxue intends to reduce as planned, West Bay Software will enjoy the right of first refusal under the same conditions.
This also makes the outside world wonder whether the melon family wants to borrow the shell of the soft holding share to seek listing in A shares.
Of course, what the public most does not want to understand is Yuan Zhongxue's motives.
You know, soft holding is a well-deserved leading enterprise in the domestic rubber machinery industry, so why did Yuan Zhongxue use this strange way to withdraw?
It is in order to clarify these doubts that the Shenzhen Stock Exchange chose to sell.
On August 13, the Shenzhen Stock Exchange issued a letter of concern, requesting Soft Holdings to elaborate on the reasons why yuan Zhongxue, its controlling shareholder and actual controller, transferred the control of the listed company through proxy voting rights.
However, whatever the specific reason, one thing has become a fact:
Yuan Zhongxue, who in 2017 also said that he "wants to reassure investors, so he has not sold any equity in the past ten years" and "I just want to engage in scientific research in a down-to-earth manner", said that change will change, and now he plans to "withdraw" from soft holdings as much as possible...
(i)
Yuan Zhongxue, born in 1955, is quite famous in the field of rubber machinery.
The most enjoyable thing is the rapid development of soft holdings.
In 2000, Yuan Zhongxue relied on the superior resources of his alma mater, Qingdao University of Science and Technology, organized a group of personnel who have been engaged in rubber industry technology research and development for a long time, and established Qingdao Times Network Engineering Co., Ltd. in the form of a joint-stock system (renamed Qingdao University Soft Control Co., Ltd. in 2006, renamed soft control Co., Ltd. again in 2010).
As a result, six years later, the company successfully launched on the Shenzhen Stock Exchange.
What is even more surprising is that the soft holding share has only taken more than 10 years of development time to do the scale of the business.
It has become the first in the country, and even in the forefront of the world's peer rankings.
According to the European Rubber Magazine (erj) released the 2018 global rubber machinery enterprise sales revenue ranking, Soft Control Co., Ltd. ranked third in the world, which is also the company's 8th consecutive ranking in the top three in the world.
It's just that the scenery is not completely without worries.
As we all know, the tire industry is a "big consumer" of rubber.
In a sense, the automotive market determines the demand for the tire industry, which in turn affects the demand for rubber.
With the sluggishness of the auto market in recent years, coupled with the friction between international trade, the performance of soft holdings is not optimistic.
According to the financial report, the soft holdings showed their first loss in 2016, when the company achieved operating income of 1.933 billion yuan, down 23.19% year-on-year, while net profit recorded -787 million yuan.
In 2017, although the soft holdings achieved a turnaround with a net profit of 76.36 million yuan, it included 144 million yuan of non-recurring gains and losses such as the disposal of subsidiaries' equity and the disposal of shares. And once these non-recurring gains and losses are deducted, the company still loses money.
In 2018, the main business income of soft holdings increased by only 1%, and the net profit was negative again, recording -339 million yuan.
To this end, in 2017, Yuan Zhongxue also made a special statement in an interview with e company to enhance the confidence of his own shareholders:
"The state has given us the only industry center to give us soft control, let us lead the development of this industry, this kind of private enterprise-led national technology research center is a few, I must do my best."
"I haven't sold any equity in ten years. Why? I just want to reassure the shareholders, I just want to engage in scientific research in a down-to-earth manner, and I can't get out of my eyes and never give up!"
"The process of working on new materials is painful. Investors are also suffering, and some people who buy soft-controlled stocks can not see growth. Let's be patient, don't speculate, and look at it after ten years of investment. ”
(ii)
But a year later, the shareholders who did not wait for the soft holdings to make a difference in the stock price,
But he first waited for the news of Yuan Zhongxue's sudden departure.
In June 2018, Soft Holdings issued an announcement that after the voting of the directors attending the meeting, Yuan Zhongxue resigned as the chairman, director, and relevant positions of the special committee of the board of directors due to the adjustment of personal work business.
After resigning, Yuan Zhongxue no longer held other positions in the company, but remained the controlling shareholder of the company.
He was succeeded as chairman of Soft Holdings by He Ning, the financial director who had just taken office a month earlier.
As for Yuan Zhongxue himself, two months later, he ran to another listed company, Sailun Tire, as chairman.
Why did someone who wanted to develop for soft control a year ago suddenly decide to switch from the rubber machinery field to the downstream tire field?
In response to this decision, which made the outside world quite curious, Yuan Zhongxue explained when attending the event in November 2018:
At present, soft control has found a German background, more prestigious partners, they can not only graft international advanced technology on the basis of the original soft control, but also use the listed company platform to integrate new materials, new energy and other concepts, make the plate bigger, so that shareholders, employees get more value returns and equity returns. He himself wants to turn to the tire platform and do a good job in scientific research.
Unexpectedly, Yuan Zhongxue was really an action faction.
A few months later, he neatly transferred the actual control of his soft holding share to Li Zhaonian and Yang Haoyong at a price of 0 yuan, and planned to continuously reduce his shares.
For the 66,000 shareholders of the soft holding share, it seems that there will be more on the second-hand car network in the future...
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