At two o'clock on the afternoon of November 5, Wang Donglei walked into the conference room quickly. Compared with the most difficult moments of a few months ago, he looked a lot better. Looking back on the past three months, he said, "very unforgettable, destined to be A case written as an MBA."
As chairman of the board of directors of two listed companies, NVC Lighting (02222, HK) and Dehao Runda (002005, SZ), Wang Donglei told reporters that with the NVC lighting board's takeover of the Wanzhou base, and Wu Changjiang was Huizhou City Public Security Bureau. Criminal filing, this storm about the control of NVC lighting control has finally passed. "This is a simple listed company governance problem, but it has been turned into a magnificent drama. I unfortunately became the protagonist and gave a vivid lesson to Chinese investors and business managers." Wang Donglei said, "I am pleased." It is through such a catastrophe that the integration of the two listed companies effectively removes the obstacles by synergy."
On October 22, the Huizhou Municipal Public Security Bureau issued a notice on the filing of Wu Changjiang and others to NVC Lighting, and investigated the case of Wu Changjiang’s alleged misappropriation of more than 173 million listed company funds.
Wang Donglei told reporters that next, Wu Changjiang will put the assets on the outside back to the listed company, which is about 8 billion yuan in sales, and will be dedicated to the depth of two listed companies, NVC Lighting and Dehao Runda. Integration will have a significant performance next year.
"The most difficult time has passed, and the recovery in two months is almost the same." Wang Donglei told reporters, "This dispute over the control of NVC's lighting board is a big lesson. When investing in the future, People and teams will be important considerations."
To take over the November 3, NVC major shareholder of BDO Runda announcement that the NVC Board of Directors has completed the takeover of Chongqing NVC (ie Wanzhou factory), the production will resume in the near future. A week ago, the legal representative of Chongqing NVC has been changed from Wu Changjiang to Wang Donglei.
The reporter learned that the Wanzhou factory is an important production base for NVC Lighting, accounting for about 20% of production capacity. Three months ago, after the NVC Lighting Board announced the removal of the CEO of Wu Changjiang, Wu Changjiang refused to be involved in the financial seal, industrial and commercial materials, and factory takeover. The two sides broke out of physical conflict and force, and the Wanzhou factory was discontinued. "The resulting daily profit loss was about 712,000 yuan, and the average monthly profit loss was 21 million yuan."
Until October 30, NVC Lighting Board held an operator conference in Huizhou, Guangdong. The 36 first-tier operators of the conference issued an open letter to the Chongqing Municipal Government, accusing Wu Changjiang of illegally occupying the base of the NVC, and demanding that Chongqing should urge him to return it. .
In the same period, Huizhou City Public Security Bureau suspected that Wu Changjiang had misappropriated 173 million funds of listed companies for case investigation. In August of this year, while the NVC Lighting Board dismissed Wu Changjiang, it also announced that Wu Changjiang was suspected of huge gambling debts, suspected interest transfer, and alleged misappropriation of huge amounts of funds of listed companies.
On November 3, the major shareholder Dehao Runda announced again that “the violation of Wu Changjiang’s illegal guarantees may result in a direct economic loss of NVC Lighting (China) of approximately RMB 164.2 million, and the bank also exists in the relevant guarantees. In violation of the rules, the company will claim rights through judicial channels." Wu Changjiang’s violation guarantee also brought “the biggest loss amount to about 44.38 million yuan†to the major shareholder Dehao Runda.
“Wu Changjiang is still the second largest shareholder of Dehao Runda, but his equity has been pledged to institutional borrowers. Now I heard that there are already two or three of his shares, and he is taking the judicial auction process. It should be soon There will be results," said Wang Donglei. Dehao Runda announced at the end of September that Wu Changjiang holds 130 million shares of the company in a state of judicial freeze. In June of this year, Wu Changjiang became a shareholder of Dehao Runda by participating in the 130 million shares.
Wang Donglei told reporters that since the conflict of control over the outbreak of NVC lighting, the two listed companies have suffered losses to varying degrees. Next, we will work to restore investor confidence and leverage the synergies between the two companies. According to the data, through two equity transfer, Dehao Runda holds a total of 27.03% of NVC Lighting's share capital, making it the largest shareholder. As of now, Dehao Runda has been suspended for nearly three months.
As the NVC Lighting Board takes over its assets, “Our first step is to restore the brand and give consumers confidence to recover. To do this, we must achieve this through timely delivery and new product development.†Wang Donglei said.
<br> <br> to integrate its two listed companies combing, NVC Board of Directors will recover assets outside Wu Changjiang get started. "First of all, we will incorporate these external assets, including e-commerce channels, home lighting, and outdoor lighting into NVC's management system, which will become a new business growth point for NVC Lighting. Based on past data, it is estimated that there will be about 800 million sales. Before that, Wu Changjiang turned these assets into his personal profit-making tools in the form of vests. In the future, we will resume performance growth and investor confidence.
In the view of NVC Lighting Board, it is the simplest growth to bring the in vitro business to the body. Since then, the most important thing is the integration of the upstream and downstream industry chain, which will involve NVC Lighting and Dehao Runda two listed companies. For example, Dehao's chips can be used in the largest amount of products on NVC, and NVC's channels in the country can also fully cover the sales of Dehao products. Dehao's advanced LED manufacturing experience will be promoted in NVC, which will reduce the cost of NVC LED products on a large scale.
"As we all know, the profit margin of LED products is usually relatively high, but the profit of NVC's LED products is only about 15%. Through the integration of both parties, the gross profit margin of NVC LED products will be worth looking forward to," said Wang Donglei. He stressed that Dehao Runda acquired NVC lighting at that time, which was for the integration of upstream and downstream and complementary advantages. The previous positioning of “NVC Lighting, DHL Runda as chip and light source†will not change.
He revealed that in the previous integration process, due to the interests of some individuals (referring to Wu Changjiang), the integration of the two sides was not fast. "For example, last year, NVC Lighting purchased from Dehao Runda's chips, only According to Wang Donglei, Wang Donglei said that the former relatives of Wu Changjiang who were responsible for the purchase of NVC were more inclined to purchase from outside. “But next year, I believe that NVC lighting is at least 90% The chip will come from Dehao" - that is, if NVC lighting can achieve 2 billion yuan of LED products next year, it will bring about 400 million yuan sales of devices such as Dehao Runda chips.
Wang Donglei expects that this year, Dehao Runda's own LED business will increase from 20% of total revenue last year to 40%. In the next year, the company's LED sales will have a 100% increase. The annual compound growth rate of NVC Lighting can still be maintained at 20%.
In Wang Donglei's view, the problems exposed in the conflict of control of NVC Lighting have caused different degrees of losses to the two listed companies, but in the long run, they are firm and positive. “NVC has a profit of 500 million in 2011. It is believed that with the elimination of insider control, it will gradually recover. In addition, in the context of LED transformation, the two companies will have more from industrial growth and mergers and acquisitions. Imagine."
"Recalling the difficult course of the past three months, I found that it is essentially a simple problem of the governance of listed companies, but it has evolved into a magnificent drama, so that when I bought a book at the airport, I was recognized by the bookstore salesperson. I feel very helpless." Wang Donglei said that this is a case that is destined to be written into a business school. It has given a vivid lesson to many companies. It is good for the listed companies such as Dehao Runda and NVC Lighting. I personally are among them. The loser, unfortunately became the protagonist, fortunately all this has passed.
"As the chairman of the board of directors of the two listed companies, I feel conscience. In this battle, it is very painful to risk personal risk." Wang Donglei said that with the deepening of legal procedures, those who need to go out with the law need to bring a few A bodyguard, the hotel has two bodyguards sleeping in the outhouse, the days have passed.
As chairman of the board of directors of two listed companies, NVC Lighting (02222, HK) and Dehao Runda (002005, SZ), Wang Donglei told reporters that with the NVC lighting board's takeover of the Wanzhou base, and Wu Changjiang was Huizhou City Public Security Bureau. Criminal filing, this storm about the control of NVC lighting control has finally passed. "This is a simple listed company governance problem, but it has been turned into a magnificent drama. I unfortunately became the protagonist and gave a vivid lesson to Chinese investors and business managers." Wang Donglei said, "I am pleased." It is through such a catastrophe that the integration of the two listed companies effectively removes the obstacles by synergy."
On October 22, the Huizhou Municipal Public Security Bureau issued a notice on the filing of Wu Changjiang and others to NVC Lighting, and investigated the case of Wu Changjiang’s alleged misappropriation of more than 173 million listed company funds.
Wang Donglei told reporters that next, Wu Changjiang will put the assets on the outside back to the listed company, which is about 8 billion yuan in sales, and will be dedicated to the depth of two listed companies, NVC Lighting and Dehao Runda. Integration will have a significant performance next year.
"The most difficult time has passed, and the recovery in two months is almost the same." Wang Donglei told reporters, "This dispute over the control of NVC's lighting board is a big lesson. When investing in the future, People and teams will be important considerations."
To take over the November 3, NVC major shareholder of BDO Runda announcement that the NVC Board of Directors has completed the takeover of Chongqing NVC (ie Wanzhou factory), the production will resume in the near future. A week ago, the legal representative of Chongqing NVC has been changed from Wu Changjiang to Wang Donglei.
The reporter learned that the Wanzhou factory is an important production base for NVC Lighting, accounting for about 20% of production capacity. Three months ago, after the NVC Lighting Board announced the removal of the CEO of Wu Changjiang, Wu Changjiang refused to be involved in the financial seal, industrial and commercial materials, and factory takeover. The two sides broke out of physical conflict and force, and the Wanzhou factory was discontinued. "The resulting daily profit loss was about 712,000 yuan, and the average monthly profit loss was 21 million yuan."
Until October 30, NVC Lighting Board held an operator conference in Huizhou, Guangdong. The 36 first-tier operators of the conference issued an open letter to the Chongqing Municipal Government, accusing Wu Changjiang of illegally occupying the base of the NVC, and demanding that Chongqing should urge him to return it. .
In the same period, Huizhou City Public Security Bureau suspected that Wu Changjiang had misappropriated 173 million funds of listed companies for case investigation. In August of this year, while the NVC Lighting Board dismissed Wu Changjiang, it also announced that Wu Changjiang was suspected of huge gambling debts, suspected interest transfer, and alleged misappropriation of huge amounts of funds of listed companies.
On November 3, the major shareholder Dehao Runda announced again that “the violation of Wu Changjiang’s illegal guarantees may result in a direct economic loss of NVC Lighting (China) of approximately RMB 164.2 million, and the bank also exists in the relevant guarantees. In violation of the rules, the company will claim rights through judicial channels." Wu Changjiang’s violation guarantee also brought “the biggest loss amount to about 44.38 million yuan†to the major shareholder Dehao Runda.
“Wu Changjiang is still the second largest shareholder of Dehao Runda, but his equity has been pledged to institutional borrowers. Now I heard that there are already two or three of his shares, and he is taking the judicial auction process. It should be soon There will be results," said Wang Donglei. Dehao Runda announced at the end of September that Wu Changjiang holds 130 million shares of the company in a state of judicial freeze. In June of this year, Wu Changjiang became a shareholder of Dehao Runda by participating in the 130 million shares.
Wang Donglei told reporters that since the conflict of control over the outbreak of NVC lighting, the two listed companies have suffered losses to varying degrees. Next, we will work to restore investor confidence and leverage the synergies between the two companies. According to the data, through two equity transfer, Dehao Runda holds a total of 27.03% of NVC Lighting's share capital, making it the largest shareholder. As of now, Dehao Runda has been suspended for nearly three months.
As the NVC Lighting Board takes over its assets, “Our first step is to restore the brand and give consumers confidence to recover. To do this, we must achieve this through timely delivery and new product development.†Wang Donglei said.
<br> <br> to integrate its two listed companies combing, NVC Board of Directors will recover assets outside Wu Changjiang get started. "First of all, we will incorporate these external assets, including e-commerce channels, home lighting, and outdoor lighting into NVC's management system, which will become a new business growth point for NVC Lighting. Based on past data, it is estimated that there will be about 800 million sales. Before that, Wu Changjiang turned these assets into his personal profit-making tools in the form of vests. In the future, we will resume performance growth and investor confidence.
In the view of NVC Lighting Board, it is the simplest growth to bring the in vitro business to the body. Since then, the most important thing is the integration of the upstream and downstream industry chain, which will involve NVC Lighting and Dehao Runda two listed companies. For example, Dehao's chips can be used in the largest amount of products on NVC, and NVC's channels in the country can also fully cover the sales of Dehao products. Dehao's advanced LED manufacturing experience will be promoted in NVC, which will reduce the cost of NVC LED products on a large scale.
"As we all know, the profit margin of LED products is usually relatively high, but the profit of NVC's LED products is only about 15%. Through the integration of both parties, the gross profit margin of NVC LED products will be worth looking forward to," said Wang Donglei. He stressed that Dehao Runda acquired NVC lighting at that time, which was for the integration of upstream and downstream and complementary advantages. The previous positioning of “NVC Lighting, DHL Runda as chip and light source†will not change.
He revealed that in the previous integration process, due to the interests of some individuals (referring to Wu Changjiang), the integration of the two sides was not fast. "For example, last year, NVC Lighting purchased from Dehao Runda's chips, only According to Wang Donglei, Wang Donglei said that the former relatives of Wu Changjiang who were responsible for the purchase of NVC were more inclined to purchase from outside. “But next year, I believe that NVC lighting is at least 90% The chip will come from Dehao" - that is, if NVC lighting can achieve 2 billion yuan of LED products next year, it will bring about 400 million yuan sales of devices such as Dehao Runda chips.
Wang Donglei expects that this year, Dehao Runda's own LED business will increase from 20% of total revenue last year to 40%. In the next year, the company's LED sales will have a 100% increase. The annual compound growth rate of NVC Lighting can still be maintained at 20%.
In Wang Donglei's view, the problems exposed in the conflict of control of NVC Lighting have caused different degrees of losses to the two listed companies, but in the long run, they are firm and positive. “NVC has a profit of 500 million in 2011. It is believed that with the elimination of insider control, it will gradually recover. In addition, in the context of LED transformation, the two companies will have more from industrial growth and mergers and acquisitions. Imagine."
"Recalling the difficult course of the past three months, I found that it is essentially a simple problem of the governance of listed companies, but it has evolved into a magnificent drama, so that when I bought a book at the airport, I was recognized by the bookstore salesperson. I feel very helpless." Wang Donglei said that this is a case that is destined to be written into a business school. It has given a vivid lesson to many companies. It is good for the listed companies such as Dehao Runda and NVC Lighting. I personally are among them. The loser, unfortunately became the protagonist, fortunately all this has passed.
"As the chairman of the board of directors of the two listed companies, I feel conscience. In this battle, it is very painful to risk personal risk." Wang Donglei said that with the deepening of legal procedures, those who need to go out with the law need to bring a few A bodyguard, the hotel has two bodyguards sleeping in the outhouse, the days have passed.
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