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NVC Resumption Plunged 40 Percent On The First Day: After The Storm The Palace Fighting Ended A Feather

Apr 07, 2017

 Suspended for more than a year of NVC (02222.HK) October 26 resumption of trading after the stock fell 34.66%, down HK $ 0.61, to close at 1.15 Hong Kong dollar. The stock suspension on August 8 last year, after the resumption usher crash, the biggest decline was 40%. LED stadium lights in control of the fight has gone shareholder and founder Wu Changjiang been arrested on suspicion of misappropriation of company funds NVC announcement that reached all the Resumption Conditions. Not surprisingly, the company stock price plunged 35% after the resumption of trading, intraday maximum was down 43%. stadium lighting secondary market investors become losers. NVC listed five years, the share price compared to the previous offer price of HK $ 2.1, slid nearly 40 months to remove just listed and the end of 2012 the introduction of Elec-Tech appeared in a brief honeymoon period, the more slowly the bear way, stock prices are low. backpfrontp and NVC disclosed in the announcement on October 23 of a 'all the Resumption Conditions have been reached and the resumption' of years, high power led flood light NVC founder Wu Changjiang's name has also been mentioned again. backpfrontp bulletin pointed out that Wu Changjiang said to conclude a pledge and security agreement and the so-called license agreements and the freezing of funds and withdrawals carried out under the so-called agreement referred to irregularities, and NVC is taking a number of measures to deal with the violations, which the company dismissed Wu Changjiang NVC Group in various positions, and no longer bears any responsibility, and lift each other to communicate legal proceedings against Wu Changjiang, 1000W led flood light and three so-called 20-year licensing agreement with the like. The main purpose of backpfrontp course, these processes can only be counted against Wu Changjiang revisit, which is not of this announcement. The focus of this announcement on behalf of the alleged NVC Wu (China) Co., Ltd. (NVC China) Fourteen pledge and security agreement entered into, and because of this pledge and security agreement Fourteen generated 285 million yuan provision. backpfrontp It is understood that after China entered into fourteen parts of NVC-called pledge and security agreement, because the relevant loan defaults, eventually totaling several banks withdraw 550 million yuan in the end,led tunnel lights a total of 265 million yuan of Promise (Promise Chongqing Real Estate Development Ltd.) owed receivables is considered recoverable, and therefore not recoverable sum provision has 285 million yuan. backpfrontp on the maximum potential credit risk, the NVC has 14 parts in 2014 on the pledge and security agreement, the so-called combined total of 285 million yuan to mention the provision, while facing the potential loss also included if they can not withdraw any money from Wu Changjiang and Promise, About 265 million yuan loss, in addition, LED arena lights China Construction Bank China claims against NVC may cause about 6,000 ten thousand yuan loss plus interest. Relevant source said. backpfrontp dust to dust, earth return to the earth, NVC infighting after the storm ended, and a feather in the fight for control of the palace fighting drama comparable to this, there is no winner, and bleak out, the imprisoned founder Wu Changjiang become the ultimate loser. backpfrontp Insiders jokingly, he became the only player in the history of Chinese industry has been driven out of the capital three square entrepreneurs, and took the hot potato of NVC Wang Dong-lei, at least for now hard to say that the winner, the aftermath of the Battle of shareholders Later, reconstruction long way to go \u0026 hellip; \u0026 hellip; backpfrontp Enclosure NVC Wu Changjiang three magical experience: backpbackp tragic hero \u0026 mdash; \u0026 mdash; Wu Changjiang backpfrontp first exodus: backpfrontp 1998, the Wu Changjiang and its two NVC founder classmates, invested 450,000 yuan, accounting for 45% stake; LED high bay lights the other two founding shareholders Du Gang and Hu Yonghong were invested 275,000 yuan, together accounted for 55% of shares. backpfrontp 2005, due to disagreement on business, Wu Changjiang was forced to give up all the shares, carrying 80 million yuan from home NVC. backpfrontp Outcome: Under dealers behind, regain NVC Wu Changjiang, the first storm to Wu Changjiang return, Du Gang and Hu each get 80 million yuan leave NVC end. backpfrontp second home: backpfrontp 2010 May, the NVC listed in Hong Kong. Meanwhile, Wu Changjiang to pay 160 million yuan equity transfer within six months, have introduced financial investor SAIF and Goldman Sachs, Schneider Electric, etc., to 2011, Wu Changjiang interest in NVC only 15.33%, while Yan charge of SAIF holds 18.48% of the shares. 2012.5.25, in the market for two years after the NVC Wu Changjiang again encounter the emperor to abdicate: NVC a paper announcement caused an uproar, the company founder Wu Changjiang resigned for personal reasons related to the company's chairman and all duties,RGB led flood light while By the time the largest shareholder of NVC, Senior Partner Investors investment fund SAIF Yan as chairman. backpfrontp ending: After that, Wu Changjiang was forced to resign in a micro-blog to the Board of Directors to declare war, to demand a return NVC. July 12 staged auto emperor to abdicate drama behind NVC Wu Changjiang; July 13 NVC employees nationwide work stoppage to protest; July 27 NVC operators held a mobilization would want to reinvent the wheel, and many other events occurred one after another. backpfrontp until September 4, NVC Lighting announced that the board of directors decided to establish a temporary operating committee, the Board of Directors for the interim appointment of Wu Changjiang person operating committee responsible for the operational management of the company's daily operations committee, NVC storm so far come to an end. backpfrontp ultimately, reconciliation NVC storm ended, but this up within the last six months of fighting, the founders and investors on corporate management philosophy tat, NVC billion market capitalization has shrunk by more than half, NVC's operating results by pole big blow, such a result, both for the founders or investors, have ushered in a lose-lose situation. backpfrontp third away: after backpfrontp NVC Wu Changjiang return to management, to regain control, to find Wu Dong-lei Wang, chairman of BDO Runda signed a secret agreement to form alliance. Subsequently, Wang Dong-lei shares NVC Wu Changjiang return and assist the Board of Directors, as CEO. Yan has become another person out. After backpfrontp Wang Dong Lei became the largest shareholder of NVC, NVC will BDO and in the financial and business have carried out deep integration, including the NVC T8 stent transferred into the core business of BDO Runda, the business contributed 20 each year % of revenue. backpfrontp outcome: a series of events caused great dissatisfaction Wu Changjiang, for the right to operate the company, the two sides began Running until the last fight. In this struggle, Wu Changjiang finally lost his arena. October 28, 2014, police intervened within NVC Lighting fighting, Wu Changjiang alleged misappropriation of funds by investigation. January 12, 2015, Wu Changjiang is Huizhou Municipal Public Security Bureau formally arrested. backp