The actual controller lost contact with the Shanghai Stock Exchange many times inquiring on ST Shuguang: Has been arrested

The actual controller lost contact for a month, but the stock price has received 19 daily limit. This situation has appeared on ST Shuguang (SH600303, the stock price of 7.96 yuan, and a market value of 5.378 billion yuan).

A few days ago, ST Shuguang issued an announcement saying that since mid -August 2022, the company cannot get in touch with the actual controller Zhang Xiugen, but has been communicating with the controlling shareholder Huatai Automobile Group Co., Ltd. (hereinafter referred to as Huatai Automobile).

As soon as the news came out, Zhang Xiugen's trend in the past month and the stock price of ST Shuguang's stock price aroused high attention from the outside world, and attracted supervision inquiries from the stock exchange. On the evening of September 20, ST Shuguang confirmed the news of Zhang Xiugen's arrest in the latest reply from the Shanghai Stock Exchange's supervision work letter.

ST曙光表示，9月20日，控股股东华泰汽车向公司发送的加盖公章的、并经张秀根之子张宏亮核实和签字的最新函件显示，经核实在7月5日，张秀根因涉嫌“非法转让、 The crime of selling land use rights "was detained by Tianjin Binhai New District Public Security Bureau. After July 5th, he knew that the company could not get in touch with Zhang Xiugen because of the above -mentioned problems. On August 10, due to the transfer of the right to use of the above land, the issue of the transfer of rights of land turned.

Earlier, in view of the fact that the company's actual controller was unable to get in touch and the stock price had repeatedly touched the abnormal fluctuations in stock transactions, ST Shuguang stock transactions started on September 15. On the evening of September 20, ST dawn said that the company recently conducted a necessary verification on the relevant matters of the stock transaction fluctuations and actual controllers. In view of the completion of the relevant inspection work, the company's application for the opening of the market on September 21.

After the opening on September 21, the daily limit of ST dawn did not stop because the actual controller confirmed the arrest, and the stock price touched the daily limit again. As of the close of the day, ST Shuguang received a collection of 7.96 yuan/share, with a market value of 5.378 billion yuan, an increase of 5.01%throughout the day.

Shareholders' "Report" actual controller was arrested

Qixinbao data shows that Zhang Xiugen is not only the actual controller of ST Shuguang, but also the actual controller of Huatai Automobile, the controlling shareholder of ST Shuguang.

Public information shows that Huatai Automobile's "entry" ST dawn began in 2017. ST Shuguang Original controlling shareholder Liaoning Shuguang Group Co., Ltd. (hereinafter referred to as Shuguang Group) and Huatai Automobile signed the "Equity Transfer Agreement" and the "Voting rights entrustment agreement". The controlling shareholder.

On September 28, 2018, the two parties completed the registration procedures, and Huatai Automobile directly held 19.77%of ST dawn. At the same time, Shuguang Group entrusted the voting right of 1.5%of the ST Shuguang's 1.5%of the ST Shuguang to Huatai Automobile. So far, Huatai Automobile's total shares holding ST Shuguang account for 21.27%of the company's total share capital, becoming the largest shareholder of ST Shuguang. At that time, Zhang Hongliang (son of Zhang Xiugen), who held 76%of Huatai Automobile (son of Zhang Xiugen) and Zhang Xiugen, who held 24%of Huatai Automobile, became the new actual controller of ST Shuguang.

Later, after two changes in the equity structure of Huatai Automobile in December 2018, Zhang Hongliang completely withdrew from Huatai Automobile. Qixinbao data shows that at present, Zhang Xiugen holds 99%of Huatai Automobile, and Miao Xiaolong (the brother of Zhang Xiugen's wife) holds 1%of Huatai Automobile's equity. Zhang Xiugen has become the actual actual controller of ST dawn.

Regarding Zhang Xiugen's movement, Huatai Automobile only said in a letter on September 19 that Zhang Xiugen was not very good. At the same time, ST dawn said that the company communicated with the company's director Zhang Hongliang on the specific situation of the actual controller. Zhang Hongliang replied that the specific situation of the actual controller was based on the letter of Huatai Automobile.

However, on the same day (September 19) on the first reply letter from Huatai Automobile, ST Shuguang received a work letter from the Shanghai Stock Exchange again. The supervisory work letter shows that the Shanghai Stock Exchange recently received a report from the second largest shareholder of ST Shuguang, Shenzhen Zhongneng Green Venture One Investment Enterprise (Limited Partnership) (hereinafter referred to as Shenzhen Zhongneng), saying that Zhang Xiugen, a actual controller of ST dawn, has already been He was arrested by the public security organs for suspected fraud on August 10. The Shanghai Stock Exchange requested that ST Shuguang immediately verified Zhang Xiugen's current specific situation, clearly stated whether it had been arrested by the public security organs and promptly fulfilling the corresponding information disclosure obligations.

In this regard, on September 20, the reporter of "Daily Economic News" called Zhang Hongliang many times. However, the other party immediately hung up the phone after answering the identity of the reporter.

One day, ST Shuguang's shareholders were confirmed by Zhang Xiugen's arrest. At the same time, Huatai Automobile and Zhang Hongliang said that they could not get in touch with Zhang Xiugen since July 5.

It is worth mentioning that Huatai Automobile emphasized in the latest letter that at present, Zhang Xiugen's physical condition is still poor. At the same time, because the above problems are still in a judicial investigation, the remarks of the distorted facts issued by anyone to publicize the facts are condemned, while retaining the same time, while retaining Investigating the right to take legal means of incomparable behavior of relevant personnel.

The ST dawn that the outside world cares about is suspected of violations of the letter that the actual controller disclosed for more than a month. It is said that this needs to be judged according to when the company's actual controllers were approved. If the listed company has long learned the news, it is not disclosed until now, then it is suspected of violating the rules. However, if the listed company is the newly learned that the actual controllers have been approved and disclosed, this situation does not violate the regulations of the listed company's letter. According to Liao Jianxun, in accordance with Article 80 of the Securities Law and Article 22 of the "Administrative Measures for Information Disclosure of Listed Companies", if the actual controller of the company is punished by criminal punishment, or suspected illegal and violations; Administrative penalties; subject to other major administrative penalties, and suspected illegal discipline and discipline and discipline inspection and supervision agencies, such as disciplinary inspection and supervision agencies, such as disciplinary inspection and supervision agencies must be disclosed as soon as possible after learning about it, otherwise they will be suspected of violations of laws and regulations.

Is the company's stock price continuous daily limit?

It is worth noting that almost at the same time of the actual controller's loss of contact, ST Shuguang's stock price opened the daily limit mode.

According to statistics, in 23 trading days, ST Shuguang received 19 daily limit boards, and the stock price rose from 3.52 yuan/share on August 11 to 7.58 yuan on September 14, an increase of 115.34%.

A car industry securities analyst who did not want to disclose that ST Shuguang performed too "fantasy" in the secondary market. "This irrational daily limit board is neither because of the fundamentals of the enterprise, nor the reasons for any good performance."

Shen Meng, executive director of Chan Song Capital, also said that without any objective reality support, the emergence of ST dawn's continuous daily limit is likely to be human price intervention. "When the controller is out of contact, it is usually probably a negative event, which may cause the stock price of the listed company to be under pressure, instead of continuously harvesting 19 daily limit boards." Shen Meng explained.

The actual controller was lost, but the secondary market was "abnormal" and the situation has also attracted the attention of the stock exchange. On September 13, the Shanghai Stock Exchange's supervision letter stated that "Since August 12, 2022, ST Shuguang's stock price has increased by 105.11%, which is significantly higher than the overall market level of the same period." At the same time, Huatai Automobile's self -examination and explanation of Huatai Automobile had a leak of Zhang Xiugen's loss of related information.

Regarding this inquiry, Huatai Automobile replied that after self -examination and verification, there was no situation of leakage of chairman Zhang Xiugen's loss of related information.

In Shen Meng's opinion, this irrational market may be due to the fact that the actual controller lost contact, which may lead to major losses, causing Youya to deliberately raise the stock price to clear the position. "The price of artificial hype lacks the basis of long -term stability. After the crazy irrational trend, there will be obvious rapid return." Shen Meng believes.

In response to reporters, ST Shuguang said that the company noticed that there were rumors about Xiaomi and Ganfeng Lithium in the recent market. It is confirmed by the company's board of directors that the company does not have other major information that should be disclosed but not disclosed, and the company has never had any form of contact with Xiaomi. "The company does not rule out the possibility of a institutional tour to take the opportunity to speculate on the stock price and make a profit from it." ST Shuguang emphasized.

It is reported that since August, ST dawn has issued 7 "stock transaction risk notice" and "announcement of stock fluctuations in stock abnormal transactions", and informed investors' risks.

In view of the fact that the company's actual controller was unable to get in touch, and the stock price has repeatedly touched the abnormal fluctuations in stock transactions, ST Shuguang's stock transaction started on September 15th. On the evening of September 20, ST dawn said that the company recently conducted a necessary verification on the relevant matters of the stock transaction fluctuations and actual controllers. In view of the completion of the relevant inspection work, the company's application for the opening of the market on September 21.

After the opening on September 21, the daily limit of ST dawn did not stop because the actual controller confirmed the arrest, and the stock price touched the daily limit again. As of press time, the ST Shuguang reported 7.96 yuan/share, and the company's latest market value was 5.378 billion yuan.

Auction of the equity of Huatai?

Some opinion believes that due to Zhang Xiugen's "loss", Huatai Automobile holds the equity auction of ST dawn. In this regard, the relevant person in charge of ST Shuguang said in the response to the reporter: "The company's actual controller's loss of contact has an uncertainty on the impact of equity auction results."

It is reported that just two months after Huatai Automobile officially entered ST dawn (that is, November 29, 2018), 19.77%of its Stock's equity was frozen by justice due to debt disputes.

According to the announcement issued by ST Shuguang on September 4, Huatai Automobile holding 97.895 million unlimited sales shares (14.49%of the company's shares) will be auctioned to settle debts. ~ At 10:00 on October 11, it will be carried out on JD.com. This means that if the auction is completed, Huatai's ST Shuguang controlling shareholder will be changed.

In Liao Jianxun's view, according to relevant laws and regulations, the "lost contact" of the actual controller of ST dawn will not affect the court's auction of the company's equity. "Because even if the company's actual controller cannot be contacted, the court will send the relevant documents to the company in accordance with the law. As long as the company has the right to sign the relevant documents, the document will be considered to be delivered. Not only that, the court can also It is delivered through the announcement. "Liao Jianxun said that the actual controller's" loss "may only extend some procedures of the auction, but it does not affect the final process of the entire judicial auction procedure. It is worth mentioning that Huatai Automobile does not recognize the equity auction. In the announcement issued by the aforementioned ST dawn on September 4, Huatai Automobile believes that its legal rights are violated and legitimate rights and interests are damaged. It will start relevant legal procedures to safeguard their legitimate rights and interests.

In this regard, Liao Jianxun explained that in the process of auction equity, if one party had objections to the auction, the objections could be performed through normal legal procedures, and it could delay the auction process, and even in the end, the auction could not be carried out.

ST Shuguang also stated in the announcement that, given that the company's controlling shareholder will take judicial means on this auction, whether this auction can be held and uncertain.

In fact, behind the auction of ST Shuguang is the dilemma of Huatai Automobile in recent years. Public data shows that in 2018, Huatai Automobile's cumulative sales of 120,700 units throughout the year, a decrease of 9%year -on -year, only completed 60%of the annual target, and a total of 1.6 billion yuan. As of the end of 2018, Huatai Automobile's debt was as high as 37.566 billion yuan.

A former Huatai car employee once revealed to reporters that Huatai Automobile has not been able to issue employee wages normally since February 2018. By the end of July 2019, Huatai Motor's three major production bases in Tianjin, Rongcheng, and Ordos were all in a state of suspension of production and arrears.

In an interview with reporters, Cui Dongshu, secretary general of the National Passenger Vehicle Market Information Joint Information Association, said that the reason why Huatai Automobile reached this step is mainly because of the strategic errors of passenger vehicle dieselization advocated by Lonely Travel. At the same time, Huatai Automobile has insufficient investment in technology research and development.

It is worth noting that, in addition to the ST Shuguang equity held by Huatai Automobile, in the auction, Shenzhen can also face the situation of holding a judicial auction. According to the announcement issued by ST Shuguang on August 25, 7.2%of the ST dawn shares held by Shenzhen will be auctioned.

ST dawn opens the "self -rescue" road

As the only listed company in Dandong City, Liaoning Province, ST Shuguang owns two major brands: Huanghai Bus and Shuguang Car Bridge. Among them, Huanghai Bus once reached about 25%in the 1990s. However, in recent years, ST Shuguang has been walking on the edge of "falling behind".

Public data shows that from 2017 to 2021, the sales volume of ST Shuguang was 21,100 vehicles, 15,600 vehicles, 7710, 6459, and 5812. From January to August 2022, ST dawn sold a total of 2,307 vehicles, a year -on -year decrease of 52.67%.

After the controlling shareholder's equity was frozen, ST dawn also opened the road of "self -help". "Because the equity of the major shareholder Huatai Automobile is frozen, ST Shuguang will be affected to varying degrees at the capital and business level." The original ST dawn employee An Xing (pseudonym) revealed in an interview with reporters that ST Shuguang was on 2021 for self -rescue, ST Shuguang was 2021 at 2021 The pure electric passenger car project was started at the beginning of the year.

In September 2021, ST Shuguang announced that it intends to contribute 132 million yuan from the controlling shareholder Huatai Automobile's wholly -owned subsidiary Tianjin Meiya New Energy Automobile Co., Ltd. to acquire Chery S18 (Ruiqi M1) and S18D (Ruiqi X1) unpowned body. Assets officially opened its market for the market for pure electric passenger cars.

According to the relevant person in charge of ST Shuguang, the development of the company's A00 -class pure electric car is currently being promoted in an orderly manner. As of the end of August, the A00 passenger car (sedan) project has completed the trial work of 17 vehicles and is undergoing relevant test verification work. Huanghai brand A00 -class pure electric sedan has entered the national new energy vehicle promotion and application recommended model catalog, and the purchase tax model is exempted.

Cui Dongshu analyzed that the cost of miniature electric vehicles is low, and compared with other levels of new energy vehicles, micro -electric vehicle technology requirements are not high, and it is easier to mature quickly. ST Shuguang acquired a powerless body. After having a body structure, the three -electric system was deployed to quickly volume.

According to the plan, ST dawn will form a capacity of 100,000 new energy passenger cars an annual output and sales in the future. "The formation of 100,000 new energy passenger cars can allow the company to form new income and profit growth points. At the same time, ST Shuguang will also realize a major transformation from commercial vehicles to passenger cars." The relevant person in charge of the above ST dawn said Essence

However, the relevant person in charge of the above ST dawn emphasized that whether the company's new energy passenger car products can achieve the time of mass production, mass production, market prospects, and product competitiveness. Affected by the epidemic, the test grounds of Chongqing, Xinjiang and other places are temporarily closed, and high temperature and plateau calibration have been forced to stop. The trial plan and test plan of the ST Shuguang passenger car project have been greatly affected, resulting in a large risk of the project milestone node and the production time of mass production.

Daily Economic News

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