Gaosheng Holdings (000971): Shareholders' Removal Of The Chairman Is An Important Measure And Step To Save Themselves According To Law.

It is proposed to recall 4 directors from the family of the real control family. This is an important measure taken by 9 shareholders to take legal weapons to save themselves, but it should also strictly regulate the behavior of large shareholders occupying the interests of listed companies.

"Large shareholder" is a common phenomenon in A share listed companies, which is also harmful. It not only damages the interests of shareholders, but also seriously damages the long-term interests of listed companies and jeopardize the healthy development of listed companies.

Therefore, around the "big shareholder" is right or wrong, almost every day.

In January 23rd, it was a normal day, but for two listed companies, the day was doomed to be unusual.

One is Kang Dexin, because a large number of shareholders are in debt, causing the company's bonds to default, and the main bank accounts are frozen, and the company's shares are wearing the "ST" hat on that day.

The other is Gaosheng holdings, a total of 9 shareholders holding 29.33% shares. The joint proposal to recall 4 directors from the family of the real control family, including the removal of chairman Li Yao, and the removal of directors of Wei Zhenyu, Li Yao, Zhang Yiwen and Sun Peng.

Why do we need to remove 4 directors from the family of the real family?

It is because the real control family has taken the Gaosheng holding company as its own ATM.

Statistics show that Wei Zhenyu and his family, chairman and general manager of the company, Li Yao, director of the company, Secretary of the board of directors and chief financial officer Zhang Yiwen, director of the company Sun Peng and others in the Gaosheng holding business have failed to perform the relevant approval procedures many times, without the approval of the board of directors, and have used the company's official seal, contract seal and financial special chapter without authorization.

Tracing back to Gaosheng holdings historical bulletin, we can see that the listed companies do exist to provide guarantees to major shareholders and their associated parties, and the actual controlling shareholders to occupy the funds of listed companies.

Among them, Wei Zhenyu guarantees large shareholders and their related parties about 340 million yuan violation, and Wei Zhenyu related party occupies Gaosheng holdings of 182 million yuan of funds.

In April 2018, due to the expiration of the loan of Xiong Peiwei and Zhao Congbin, and no longer the extension of the loan, the Chinese tourists failed to repay the money as scheduled. After approval by the chairman of the board, the 182 million yuan deposit in the bank account of the listed company was pferred to the real control company, which was about $90 million, and the partner of the real controlling company, Long Mingyuan, was 92 million yuan. The total sum of the two funds was 182 million yuan, which was actually a trip to China and a loan to bear and.

Based on the above situation, the October 25, 2018 announcement showed that Gaosheng holdings and its controlling shareholders were warned by the Hubei Securities Regulatory Commission. The November 28, 2018 announcement showed that the Shenzhen Stock Exchange had given disciplinary sanction to Gaosheng holdings and related parties.

In September 27, 2018, Gaosheng holdings was also investigated by the SFC on suspicion of illegal disclosure of information.

Based on Wei Zhenyu's violation of the guarantee to major shareholders and their associated parties, and the fact that the Wei Zhenyu related party occupies 182 million yuan of Gaosheng holdings, the 4 directors of the family controlled by the real family have seriously damaged the interests of the listed companies and all shareholders.

If we continue to let go of this kind of behavior, the listed companies will be hollowed out sooner or later. The interests of the listed companies and shareholders will be more seriously damaged. Finally, *ST will be forced to withdraw from the market.

Under such circumstances, 9 shareholders of Ping, Weng yuan, Xu Lei, Yuan Jianing, Wang Yu, Liu Fengqin, Fu Gangyi and Fang Yuhe were courageous to stand up and proposed to recall 4 directors from the family of the real control family. This is an important move taken by 9 shareholders to take legal weapons to save themselves.

In the face of large shareholders' repeated damage to the interests of listed companies, if shareholders remain ignorant, it will only make large shareholders harm the interests of listed companies more rampant, so that the interests of shareholders of listed companies will be more damaged.

The proposal to recall the 4 directors sent by the real control family is a "struggle" between the shareholders and the real controllers, and also the 9 shareholders' self rescue, which is not only conducive to safeguarding the long-term interests of the listed companies, but also to protect the interests of all shareholders.

Therefore, the practice of the 9 shareholders is worth affirming.

From the perspective of safeguarding the interests of listed companies and investors, the stock market should strictly regulate the behavior of large shareholders occupying the interests of listed companies.

On the one hand, the major shareholders and their associated parties should be forbidden to encroach on the amount of the listed companies; on the other hand, the situation of large shareholders occupying the interests of listed companies must be returned within a specified time.

Before the payment is made, all rights of the major shareholders shall be frozen, including suspending the directors appointed by the major shareholders to hold all posts in the listed companies, and automatically terminating their powers in the listed companies.

This is obviously more conducive to protecting the interests of listed companies and all shareholders.