[High-tech LED reporter Zhao Hui] On the evening of June 16, a heavy news spread rapidly in the LED industry. The news that “Qinshang Optoelectronics Co., Ltd. including the chairman Li Xuliang and many executives and the executives resigned collectively†was quickly forwarded in the WeChat circle of LEDs, and various comments followed.
Comments such as “diligence on the big things†and “business problems have been investigated†and so on are everywhere. The annual report disclosed that the term of the Board of Directors of Qinshang Optoelectronics ended on December 9, 2016.
According to the investigation and analysis of the reporter of "High-tech LED", the reason for the resignation of many directors and executives of Qinshang Optoelectronics is to ensure the smooth implementation of non-public issuance (directed issuance).
On June 10, before Qinshang Optoelectronics (002638.SZ) released a number of directors' resignation announcements, Qinshang Optoelectronics issued the "Notice on Suspension of Major Events". According to the announcement, Qinshang Optoelectronics is planning to make a non-public offering of shares to Mr. Li Xuliang, the actual controller of the company. As the matter is still under discussion, there is uncertainty. In order to ensure fair information disclosure, safeguard the interests of investors and avoid the stock price of the company. Abnormal fluctuations, according to the relevant regulations of the Shenzhen Stock Exchange, the company's shares were suspended from trading on June 10, 2014 after the company's application. After the matter is determined, the company will promptly disclose the relevant announcements and apply for resumption of trading.
Before and after the two announcements are linked, it is not difficult to explain why at this time Li Xuliang and other senior directors and executives resigned.
According to the requirements of the CSRC on non-public issuance, there are several cases in which the company cannot be issued in private. One of them is that “current directors and senior executives have received administrative penalties from the China Securities Regulatory Commission in the past 36 months, or have been publicly condemned by the stock exchange in the last 12 months.â€
Li Xuliang, Huang Guanzhi and Zhu Bingzhong, three current directors and executives of Qinshang Optoelectronics, were just imposed an administrative penalty by the China Securities Regulatory Commission on May 12.
On May 13, Qinshang Optoelectronics issued a notice on receiving the “Administrative Punishment Decision†issued by the Guangdong Regulatory Commission of the China Securities Regulatory Commission. The announcement disclosed that the CSRC’s Guangdong Regulatory Authority was responsible for the disclosure of related transactions in accordance with the law. Directors such as Shang Optoelectronics, Li Xuliang, Huang Guanzhi and Zhu Bingzhong gave warnings and imposed fines.
If Li Xuliang and others continue to serve as directors and senior executives, according to the regulations of the CSRC, Qinshang Optoelectronics cannot conduct non-public offerings.
At this point, the resignation of the directors and executives of Qinshang Optoelectronics is really clear.
It is understood that the current production and operation of Qinshang Optoelectronics have maintained normal operation. Currently, Director Wen Qi is temporarily acting as the general manager.
Comments such as “diligence on the big things†and “business problems have been investigated†and so on are everywhere. The annual report disclosed that the term of the Board of Directors of Qinshang Optoelectronics ended on December 9, 2016.
According to the investigation and analysis of the reporter of "High-tech LED", the reason for the resignation of many directors and executives of Qinshang Optoelectronics is to ensure the smooth implementation of non-public issuance (directed issuance).
On June 10, before Qinshang Optoelectronics (002638.SZ) released a number of directors' resignation announcements, Qinshang Optoelectronics issued the "Notice on Suspension of Major Events". According to the announcement, Qinshang Optoelectronics is planning to make a non-public offering of shares to Mr. Li Xuliang, the actual controller of the company. As the matter is still under discussion, there is uncertainty. In order to ensure fair information disclosure, safeguard the interests of investors and avoid the stock price of the company. Abnormal fluctuations, according to the relevant regulations of the Shenzhen Stock Exchange, the company's shares were suspended from trading on June 10, 2014 after the company's application. After the matter is determined, the company will promptly disclose the relevant announcements and apply for resumption of trading.
Before and after the two announcements are linked, it is not difficult to explain why at this time Li Xuliang and other senior directors and executives resigned.
According to the requirements of the CSRC on non-public issuance, there are several cases in which the company cannot be issued in private. One of them is that “current directors and senior executives have received administrative penalties from the China Securities Regulatory Commission in the past 36 months, or have been publicly condemned by the stock exchange in the last 12 months.â€
Li Xuliang, Huang Guanzhi and Zhu Bingzhong, three current directors and executives of Qinshang Optoelectronics, were just imposed an administrative penalty by the China Securities Regulatory Commission on May 12.
On May 13, Qinshang Optoelectronics issued a notice on receiving the “Administrative Punishment Decision†issued by the Guangdong Regulatory Commission of the China Securities Regulatory Commission. The announcement disclosed that the CSRC’s Guangdong Regulatory Authority was responsible for the disclosure of related transactions in accordance with the law. Directors such as Shang Optoelectronics, Li Xuliang, Huang Guanzhi and Zhu Bingzhong gave warnings and imposed fines.
If Li Xuliang and others continue to serve as directors and senior executives, according to the regulations of the CSRC, Qinshang Optoelectronics cannot conduct non-public offerings.
At this point, the resignation of the directors and executives of Qinshang Optoelectronics is really clear.
It is understood that the current production and operation of Qinshang Optoelectronics have maintained normal operation. Currently, Director Wen Qi is temporarily acting as the general manager.
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