brought out the four "evil deeds" of the former vice chairman of an old listed semiconductor company! Embezzlement of huge assets, extortion, intimidation and threats of accountants, false accusations and smearing of listed companies... These jaw-dropping plots may not even be dared to be written by movie screenwriters in commercial war movies, but they really happened.
Event review
On the evening of March 24, Jilin China Microelectronics Co., Ltd. (hereinafter referred to as " China Microelectronics ") issued a clarification announcement, which caused an uproar. The cause of the
incident is that some media have recently released and reproduced false information targeting China Microelectronics, its controlling shareholders, and actual controllers on online platforms such as websites and stock bars, which has caused serious negative impacts on the company. At the same time, the regulatory authorities launched inspections and interviews with China Microelectronics, and issued letters of regulatory measures, inquiries and other letters to China Microelectronics, which damaged the image of the listed company. Now based on the facts, the company will formally clarify and declare the relevant situation.
According to Huawei Electronics, the company’s former vice chairman and controlling shareholder Shanghai Pengsheng Technology Industry Co., Ltd. Microelectronics and chairman Xia Zengwen reported in real name, and Wang Yufeng has been investigated by public security agencies in many places.
Huawei Electronics emphasized that the company's production and operation are all normal. According to
public information, Huawei Electronics is mainly engaged in the design and development of power semiconductor devices, chip manufacturing, packaging testing, sales and other businesses. The company was listed on the Shanghai Stock Exchange in March 2001 and is the first listed company in the field of power semiconductor devices in China. According to the official website, the company has total assets of 6.8 billion yuan and more than 2,300 employees.
According to the latest performance report, in 2021, Huawei Electronics' total operating income will be 2.21 billion yuan, a year-on-year increase of 28.60%; the net profit attributable to the parent is 110 million yuan, a year-on-year increase of 222.17%. During the reporting period, the company seized the opportunity of localization of power semiconductors and focused on the development of its main business. Customer orders increased, sales revenue increased, and gross profit increased.
Regarding the situation of Wang Yufeng, the party involved, according to the announcement, Wang Yufeng served as the legal representative and chairman of Shanghai Pengsheng from June 2005 to November 2014, and vice chairman of Huawei Electronics from June 2006 to October 2014. Wang Yufeng resigned from all positions in Huawei Electronics (due to personal reasons) in October 2014, and resigned from all positions in Shanghai Pengsheng in November of the same year. When
resigned from Huawei Electronics, Wang Yufeng directly held 100,000 shares of the company. Tianyan investigation shows that Wang Yufeng does not hold shares in Shanghai Pengsheng.
Four major "crimes"
Why would a well-behaved executive of a listed company take risks and embark on the path of crime? The answer can be summed up in one word: greed.
Crime One: Misappropriation of Huge Assets
Huawei Electronics pointed out that it is understood that during his tenure in Shanghai Pengsheng and Huawei Electronics, Wang Yufeng directly committed or ordered employees to commit criminal acts such as embezzling company assets and disrupting the country’s economic order in order to obtain huge illegal profits. , Criminal acts and harmful consequences involve many provinces and cities across the country.
At present, the Jilin police have filed a case for Wang Yufeng’s suspected crime of occupational embezzlement, and delivered the “Notice of Case Filing” to Huawei Electronics. Due to the huge amount of money involved in the case of Wang Yufeng and others, the public security organs have seized and frozen a large amount of Wang Yufeng's property involved in the case according to law, and imposed compulsory measures such as restricting Wang Yufeng and others from leaving the country.
Crime 2: extortion
Hua Microelectronics stated that Wang Yufeng filed a false civil lawsuit against Shanghai Pengsheng and Shanghai Pengsheng’s current legal representative, Zeng Tao, etc., with the intention of interfering with and opposing the normal criminal investigation of the public security organs, and further imposed further punishment on Shanghai Pengsheng. crime of embezzlement. During this period, they continued to extort Shanghai Pengsheng.
Crime 3: Intimidate and threaten accountants
Since 2015, in addition to continuing to plant and fabricate the financial fraud of listed companies, Wang Yufeng has also continued to use text messages, letters, phone calls, etc.Intimidation, threats, and harassment of independent directors, directors, and accountants of audit institutions have seriously disrupted the normal operation and management order of listed companies.
Crime 4: False accusation and smearing of a listed company
Wang Yufeng, in order to escape the crime of embezzlement of Shanghai Pengsheng’s huge assets, in order to escape the crime of embezzling Shanghai Pengsheng’s huge assets with conclusive evidence and planting the blame on Huawei Electronics, And fabricate the financial fraud of listed companies, continue to falsely accuse and discredit the listed companies to the regulatory agencies, intending to deceive the regulatory agencies, and create obstacles to the normal production, operation and future development of the listed companies.
At the same time, Wang Yufeng used the network media to spread false information, maliciously confuse investors, the media and regulatory agencies, and put Huawei Electronics in the whirlpool of public opinion. This action caused irreparable damage to the reputation of the listed company and other aspects.
According to the description of Huawei Electronics, because the release of relevant false information has attracted the attention of many parties, the regulatory authorities have inspected and interviewed Huawei Electronics, and issued letters of regulatory measures and inquiries to Huawei Electronics, causing Huawei Microelectronics is tired of responding to various letters and damages the image of listed companies. Huawei Electronics pointed out that Wang Yufeng's above-mentioned actions have caused huge irreparable losses and adverse effects to Huawei Electronics.
four-point statement: "never bow your head"!
Based on this, the Board of Directors of Huawei Electronics, based on the relevant information it has learned, and in an attitude of being responsible to the facts and laws, regulatory agencies and investors, hereby issue the following statement:
(1) Wang Yufeng has resigned from Huawei in 2014 All positions in Microelectronics and Shanghai Pengsheng. And because of his involvement in multiple criminal crimes, Wang Yufeng was investigated by public security agencies in many places.
(2) In response to Wang Yufeng's various retaliation and slander actions against listed companies and chairman Xia Zengwen, China Microelectronics has a clear and firm attitude and will never compromise with criminal behavior. The company will closely rely on the party and the government, the judiciary and supervision institutions, continue to expose and report the criminal acts of Wang Yufeng and others.
(3) While actively cooperating with the public security organs in the criminal investigation of Wang Yufeng, Huawei Electronics will also actively cooperate with the normal supervision and letter reply work of the regulatory agencies. Based on the principle of seeking truth from facts and being objective and true, Huawei Electronics responds to the concerns of all parties, lets all parties understand the truth, and is eager to gain the understanding and support of the competent authorities and regulatory agencies.
(4) At present, the production and operation of Huawei Electronics are normal, the market demand for the company's products is strong, and the development momentum is good. In the future, Huawei Electronics will continue to work hard to do a good job in business management, enhance the market competitiveness of Huawei Electronics, and continue to improve the performance of listed companies.
130,000 shareholders have quarreled...
As of the end of the third quarter of 2021, there are 127,500 shareholders of Huawei Electronics.
Regarding the above incident, some shareholders said, "Fish and shrimp are similar, and the advantage of public opinion cannot offset the crime of non-disclosure of 400 million yuan in debt." Optimistically, "The previous rumors have now been clarified, and we are optimistic about the company's follow-up market."
In fact, the equity dispute between Wang Yufeng and Zeng Tao, the actual controller of Huawei Electronics, has lasted for several years.
Before November 29, 2014, Wang Yufeng held 24.53% equity of Shanghai Pengsheng, and Zeng Tao was the controlling shareholder of Huawei Electronics. On the 29th, Wang Yufeng signed the "Equity Transfer Agreement" with Zeng Tao, and Wang Yufeng transferred his equity to Zeng Tao. Subsequently, Chen Zufang and Liang Zhiyong transferred a total of 55% of Tianjin Huahan's shares to Zeng Tao.
Until September 2015, Zeng Tao held 55% of Tianjin Huahan; Tianjin Huahan held 30.12% of Shanghai Pengsheng; Zeng Tao held 13.16% of Shanghai Pengsheng; Shanghai Pengsheng held 23.51% of Huawei Electronics %. The actual controller of Huawei Electronics was changed from Liang Zhiyong to Zeng Tao.
In November 2015, Wang Yufeng filed a lawsuit with Shanghai Pudong New Area People's Court in Shanghai Pengsheng and Tianjin Huahan Equity Dispute, but later withdrew the lawsuit. In January 2018, Wang Yufeng filed a lawsuit with Tianjin Higher People's Court on the above facts, after which the Tianjin Higher People's Court and the Supreme People's Court made rulings on the issue of jurisdiction and transferred the case to Shanghai No. 1 Intermediate People's Court for jurisdiction. The case was first-instanced by the Shanghai No. 1 Intermediate People's Court, which rejected all the claims of Wang Yufeng and Chen Zufang; and after the second instance of the Shanghai Higher People's Court, the final judgment rejected the appeal of Wang Yufeng and Chen Zufang and upheld the original judgment.
In addition, some media have questioned the source of the funds used to acquire equity.
In December 2019, some domestic media reported that Zeng Tao, the real controller of Huawei Electronics, used the funds for the acquisition of equity from listed companies, and the allotment funds of the controlling shareholder also came from listed companies, and were arranged by the company's chairman Xia Zengwen. This also aroused the attention of the regulators, and the Shanghai Stock Exchange issued a supervisory work letter to China Microelectronics.
However, when replying to the supervisory letter, Huawei Electronics denied relevant media reports. Huawei Electronics stated that after verification by all directors, supervisors and senior management, there are no instructions and fund arrangements for the equity transfer and allotment funds of the company's chairman Xia Zengwen. The 344 million yuan of equity acquisition funds are shareholders' own and self-raised funds, not from listing company. The controlling shareholder's allotment funds come from self-raised funds, not directly or indirectly from listed companies.
In addition to the above-mentioned problems, Huawei Electronics was also ordered to correct by taking because it failed to disclose its 400 million yuan in debt.
It is understood that on March 12, 2020, Huawei Electronics and Zheshang Bank Co., Ltd. Shenyang Branch signed the "Asset Pool Business Cooperation Agreement". From March 13th to 23rd, 2020, Huawei Electronics deposited RMB 400 million in the Zheshang Bank's asset pool, and at the same time accumulated a total of RMB 400 million in principal, with a financing period of one year. However, Huawei Electronics did not disclose the above-mentioned liabilities in the 2020 annual report, resulting in an undercalculation of 400 million yuan in liabilities. In addition, the restriction of 400 million yuan in monetary funds was not disclosed in the 2020 annual report. In this regard, the Jilin Supervisory Bureau of the China Securities Regulatory Commission has taken corrective measures.
In addition, Huawei Electronics also has inaccurate disclosure of financial data in regular reports, and has not timely disclosed liabilities and monetary capital restrictions, resulting in prepaid accounts and short-term borrowings in the 2020 annual report and the 2021 third quarter report. , total assets, net cash flow from investing activities, net cash flow from financing activities and other items are inaccurately presented.
Regarding the above-mentioned behaviors, the Jilin Securities Regulatory Bureau decided to take corrective measures, and issued regulatory warnings to Xia Zengwen, the then chairman and acting board secretary of China Microelectronics, and Wang Xiaolin, the then chief financial officer. It is required to fully learn lessons, strengthen the study of relevant laws and regulations, improve the awareness of standardized operation, and do a good job of information disclosure work.
Conclusion
Of course, despite the frequent spread of Huawei Electronics' "black material", it is different from Wang Yufeng's criminal behavior. There is no causal relationship in logic, and they cannot be compared in principle. Therefore, " International E-Commerce " believes that it is necessary to be hardworking, and operating companies must adhere to the legal bottom line and policy red line, and must always regulate corporate behavior within the legal framework. Don't step on the line, don't cross the line. Editor in charge of
: Momoz
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