Recently, Zhong Xincai, a veteran of a modern large company that has worked in Foshan Lighting for 51 years and has made the company a small net profit of several hundred million yuan from the small lamp factory, has abdicated. Its chairman position has been taken over by Pan Jie from the US General. The insider trading that has occurred since the company last year, as well as the related transactions that burned itself, have tarnished the image of Zhong Xincai and Foshan Lighting.
The cusp left
Over the past year or so, Foshan Lighting has had negative events in succession, and Zhongxin, who has always been strong, is no longer willing to say anything more. Last year, the company was first involved in a related transaction, and the two sons of Zhong Xincai and other relatives were involved; then Zou Jianping, the company’s deputy general manager, was used to use the inside information to conduct stock trading during the 2009 investment in new energy projects. Ten thousand yuan.
In March of this year, the Guangdong Regulatory Authority issued an administrative penalty for related party transactions. Foshan Lighting was fined 400,000 yuan. Zhong Xin was given a warning and imposed a fine of 150,000 yuan. The related party that was stirred up was only finished.
Integrity companies have encountered a crisis of integrity. Prior to this, Zhong Xincai had always advocated honest operation and thought about the interests of shareholders everywhere. After this incident was smashed out, he was mixed.
It is reported that some shareholders will file a claim for stock price crash caused by incomplete disclosure of Foshan lighting information. "As of now, the company has not received a notice of responding." Foshan Lighting related person told this reporter.
In March of this year, Zhong Xincai explained to the media about the related transactions that they involved a small amount and the price was cheaper than others. At that time, there was no such thing as fine and unconscious. "The mistake is wrong, but my starting point is not the benefit transfer. It can stand the audit." This analysis of a securities company on this reporter has become an established fact, but the real reason is likely to be the abdication of shareholders.
The largest shareholder of Foshan Lighting is Osram Holdings Co., Ltd., and the second largest shareholder is Prosperity Lighting Equipment Co., Ltd., with a shareholding ratio of 13.47% and 10.5% respectively. Together with the entrepreneurial veteran Zhong Xincai, these three have formed in the past decade. The situation of "three legs".
Since the acquisition of Osram and Hong Kong Youchang in 2004, Zhong Xin has twice resigned as general manager and twice as chairman. The most recent time was in 2010, after the chairman of the original company, Zhuang Jianyi, was found inside the insider trading, he once again took the position of chairman and general manager.
Conscience entrepreneur
Foshan Lighting's dividend rate has been one of the best in the A-share market where the money is not lost and the dividends are low. Zhong Xincai advocates creating value for shareholders and thinking about the interests of shareholders.
Foshan Lighting has announced that the proportion of dividends per year is not less than 30% of the profits achieved in the year. “Basically, there are no less than 60% per year. In the past five years, it has basically reached 80% and 90%, and 100% of the year has been divided. When talking about dividends to shareholders, the above-mentioned Foshan lighting related person told reporters. Because of its high dividend rate, Zhong Xin was called “the most conscientious chairman of a listed company†and regarded his company as a model listed company that is conscience, responsibility and commitment.
According to statistics from reporters, Foshan Lighting has been listed for nearly 20 years, with a total cash dividend of more than 3.2 billion yuan. After the company went public, it has raised a total of 1.339 billion yuan, and its dividend has more than doubled. Zhong Xincai couldn't help but encourage investors to inhale low positions, but don't speculate on the high position. "If you catch up with the overall downturn in the broader market, you can make two simple spreads in the short-term, and take a few dividends. The stock price will pick up with the broader market. Double the investment income."
Zhong Xincai holds more than 800,000 shares of the company, including the company's year-end award in the form of shares. He is a hardcore fan of the company, and he revealed not long ago, "I have never sold shares in Foshan Lighting."
The market is so ruthless, Foshan Lighting's share price has been falling, from the high of 21.55 yuan in November 2010 to 5.43 yuan at the end of December last year, the stock price only survived a quarter. This year, with the LED industry being sizzled, the stock price rebounded to around 7.5 yuan. "The company's insider trading, as well as the related transactions of the relatives of Zhong Xincai, will have more or less impact on the stock price," said the securities company.
In fact, Zhong Xincai has been firmly grasping the company's control. In the downturn of the LED industry, the company has maintained a good growth in recent years. In 2012, the sales volume was 2.382 billion yuan, and the net profit was 400 million yuan, a year-on-year growth rate of 37%. This is not easy for the lighting industry, where the market is very fragmented and has fierce competition.
Foshan Lighting was established for 55 years, and Zhong Xincai served for 51 years. At the age of 19, he entered the company. Whether it is the best golden age or the old age, he dedicated his life to this manufacturing company. .
Chinese-style "destiny"
On May 28th, the Foshan Lighting Shareholders' Meeting was scheduled to start at 8:30, and Zhong Xincai came to the venue early at 8:00. When he communicated with the shareholders, he said that because of his age, he would never go out again.
Zhong Xincai has retired. His name has been erased from the company executives. However, he will give his work to the successor after a period of complete rest assured that he will calm down and rest.
He bears the imprint of the generation of entrepreneurs, hard work, enthusiasm, firm goals, strong sense of responsibility, and at the same time with near stubborn control, the company that owns a big business is regarded as a "child", it is difficult to give up . However, due to the age and the company's continuous expansion and shareholding, these older generations of entrepreneurs are becoming more and more difficult to control. In recent times, Alibaba's Ma Yun handed over the power of power to younger colleagues, New Hope Chairman Liu Yonghao passed the position to his daughter Liu Chang...
People began to worry about whether Foshan Lighting will change direction after the new manager. Wu Yulin, vice president of the Guangdong Lighting Association, believes that no one will change the company's business direction, the company will move forward according to the previously set goals.
"With regard to the next layout of lithium batteries, new leaders have just come up to see how they plan for the long-term." Foshan lighting related people believe that the general direction of lighting production will not change, but the new energy is still unknown.
The young man who succeeded Zhong Xincai was Pan Jie who came from the US General Air Force. He is 42 years old. He is related to the optoelectronics major in undergraduate majors and postgraduate majors. He has worked in the General Electric Power Generation and Water Treatment Group in the United States since July 2012. He is the CEO of GE-Water Treatment Group Greater China; in the past he was also the head of Asia Pacific for GE Energy. However, the two representatives of Foshan Lighting's major shareholder Osram on the day of the shareholder meeting abstained from voting for Pan Jie. In this regard, market analysis believes that Pan still has a long and difficult road to go.
Pan Jie came here in a group. Yang Jianhu and Yin Jianchun, who were airborne with him, were respectively directors and financial directors of Foshan Lighting, all from General Electric. Zhong Xincai said that he will fully support newcomers. "Pan Jie has worked in a large company such as GM and believes that he will have rich experience.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
The cusp left
Over the past year or so, Foshan Lighting has had negative events in succession, and Zhongxin, who has always been strong, is no longer willing to say anything more. Last year, the company was first involved in a related transaction, and the two sons of Zhong Xincai and other relatives were involved; then Zou Jianping, the company’s deputy general manager, was used to use the inside information to conduct stock trading during the 2009 investment in new energy projects. Ten thousand yuan.
In March of this year, the Guangdong Regulatory Authority issued an administrative penalty for related party transactions. Foshan Lighting was fined 400,000 yuan. Zhong Xin was given a warning and imposed a fine of 150,000 yuan. The related party that was stirred up was only finished.
Integrity companies have encountered a crisis of integrity. Prior to this, Zhong Xincai had always advocated honest operation and thought about the interests of shareholders everywhere. After this incident was smashed out, he was mixed.
It is reported that some shareholders will file a claim for stock price crash caused by incomplete disclosure of Foshan lighting information. "As of now, the company has not received a notice of responding." Foshan Lighting related person told this reporter.
In March of this year, Zhong Xincai explained to the media about the related transactions that they involved a small amount and the price was cheaper than others. At that time, there was no such thing as fine and unconscious. "The mistake is wrong, but my starting point is not the benefit transfer. It can stand the audit." This analysis of a securities company on this reporter has become an established fact, but the real reason is likely to be the abdication of shareholders.
The largest shareholder of Foshan Lighting is Osram Holdings Co., Ltd., and the second largest shareholder is Prosperity Lighting Equipment Co., Ltd., with a shareholding ratio of 13.47% and 10.5% respectively. Together with the entrepreneurial veteran Zhong Xincai, these three have formed in the past decade. The situation of "three legs".
Since the acquisition of Osram and Hong Kong Youchang in 2004, Zhong Xin has twice resigned as general manager and twice as chairman. The most recent time was in 2010, after the chairman of the original company, Zhuang Jianyi, was found inside the insider trading, he once again took the position of chairman and general manager.
Conscience entrepreneur
Foshan Lighting's dividend rate has been one of the best in the A-share market where the money is not lost and the dividends are low. Zhong Xincai advocates creating value for shareholders and thinking about the interests of shareholders.
Foshan Lighting has announced that the proportion of dividends per year is not less than 30% of the profits achieved in the year. “Basically, there are no less than 60% per year. In the past five years, it has basically reached 80% and 90%, and 100% of the year has been divided. When talking about dividends to shareholders, the above-mentioned Foshan lighting related person told reporters. Because of its high dividend rate, Zhong Xin was called “the most conscientious chairman of a listed company†and regarded his company as a model listed company that is conscience, responsibility and commitment.
According to statistics from reporters, Foshan Lighting has been listed for nearly 20 years, with a total cash dividend of more than 3.2 billion yuan. After the company went public, it has raised a total of 1.339 billion yuan, and its dividend has more than doubled. Zhong Xincai couldn't help but encourage investors to inhale low positions, but don't speculate on the high position. "If you catch up with the overall downturn in the broader market, you can make two simple spreads in the short-term, and take a few dividends. The stock price will pick up with the broader market. Double the investment income."
Zhong Xincai holds more than 800,000 shares of the company, including the company's year-end award in the form of shares. He is a hardcore fan of the company, and he revealed not long ago, "I have never sold shares in Foshan Lighting."
The market is so ruthless, Foshan Lighting's share price has been falling, from the high of 21.55 yuan in November 2010 to 5.43 yuan at the end of December last year, the stock price only survived a quarter. This year, with the LED industry being sizzled, the stock price rebounded to around 7.5 yuan. "The company's insider trading, as well as the related transactions of the relatives of Zhong Xincai, will have more or less impact on the stock price," said the securities company.
In fact, Zhong Xincai has been firmly grasping the company's control. In the downturn of the LED industry, the company has maintained a good growth in recent years. In 2012, the sales volume was 2.382 billion yuan, and the net profit was 400 million yuan, a year-on-year growth rate of 37%. This is not easy for the lighting industry, where the market is very fragmented and has fierce competition.
Foshan Lighting was established for 55 years, and Zhong Xincai served for 51 years. At the age of 19, he entered the company. Whether it is the best golden age or the old age, he dedicated his life to this manufacturing company. .
Chinese-style "destiny"
On May 28th, the Foshan Lighting Shareholders' Meeting was scheduled to start at 8:30, and Zhong Xincai came to the venue early at 8:00. When he communicated with the shareholders, he said that because of his age, he would never go out again.
Zhong Xincai has retired. His name has been erased from the company executives. However, he will give his work to the successor after a period of complete rest assured that he will calm down and rest.
He bears the imprint of the generation of entrepreneurs, hard work, enthusiasm, firm goals, strong sense of responsibility, and at the same time with near stubborn control, the company that owns a big business is regarded as a "child", it is difficult to give up . However, due to the age and the company's continuous expansion and shareholding, these older generations of entrepreneurs are becoming more and more difficult to control. In recent times, Alibaba's Ma Yun handed over the power of power to younger colleagues, New Hope Chairman Liu Yonghao passed the position to his daughter Liu Chang...
People began to worry about whether Foshan Lighting will change direction after the new manager. Wu Yulin, vice president of the Guangdong Lighting Association, believes that no one will change the company's business direction, the company will move forward according to the previously set goals.
"With regard to the next layout of lithium batteries, new leaders have just come up to see how they plan for the long-term." Foshan lighting related people believe that the general direction of lighting production will not change, but the new energy is still unknown.
The young man who succeeded Zhong Xincai was Pan Jie who came from the US General Air Force. He is 42 years old. He is related to the optoelectronics major in undergraduate majors and postgraduate majors. He has worked in the General Electric Power Generation and Water Treatment Group in the United States since July 2012. He is the CEO of GE-Water Treatment Group Greater China; in the past he was also the head of Asia Pacific for GE Energy. However, the two representatives of Foshan Lighting's major shareholder Osram on the day of the shareholder meeting abstained from voting for Pan Jie. In this regard, market analysis believes that Pan still has a long and difficult road to go.
Pan Jie came here in a group. Yang Jianhu and Yin Jianchun, who were airborne with him, were respectively directors and financial directors of Foshan Lighting, all from General Electric. Zhong Xincai said that he will fully support newcomers. "Pan Jie has worked in a large company such as GM and believes that he will have rich experience.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
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