KingSun staged "to play", double main industry in transition to be solved

There are no waves without wind. Is to seek the transformation of the domestic LED lighting the first "flash controlling shareholder KingSun recently vice chairman of a bigong, raising speculation.

Reporter recently to the listed company secretaries office to further understand the deeper secrets behind the controlling shareholder of the emperor to abdicate, but the other side responded that the secretaries on a business trip, temporarily unable to respond. The reporter sent to interview letter, as of press time, has not yet received a reply.

Some analysts believe that the major shareholders want to recall the vice chairman storm, or just KingSun transformation direction on a small episode. For KingSun itself, the current urgent need to solve the problem is how to coordinate the development of dual core business pattern.

Vice chairman was proposed to recall

In September 6th, KingSun bursts of two announced the controlling shareholder KingSun Group intends to recall vice chairman Zhao Jun. KingSun said KingSun group proposed the removal of directors, Mr. Zhao Jun, vice chairman, member of the strategy committee, replacing the remuneration and appraisal committee and the nomination committee duties, the committee by the election of the new board succession. At the same time, Mr. Deng Junhong was nominated as a director of the company, the term of office from the date of approval of the general meeting of shareholders until the expiration of the term of office of the board of directors. Recall the reason given is the announcement: fully consider the reasons for the transformation of future strategic development and industrial layout, KingSun company, the board of directors of the company and ask for advice.

In September 9th, KingSun held by the board of directors on the controlling shareholders recall vice chairman bill. However, the controlling shareholder can recall success, had to look at the small shareholder's "face", KingSun September 26th intends to convene the fourth session of the General Assembly will decide the recall motion.

But why should the public shareholders "difficulties" individual executives of listed companies? "In accordance with the 99 and Article 37 of the company law, the shareholders have the right to change the procedures of the shareholders' meeting, and to replace the non - employee representatives. So, this is the largest shareholder KingSun contains new candidates for the board of directors of the motion of the change, then the behavior of large shareholders is normal behavior for the exercise of the rights of shareholders, can replace the general meeting of shareholders to vote to determine. If the major shareholder is only the removal of the motion, does not involve the issue of replacement, such a bill does not comply with the provisions of the company itself, the company's board of directors may refuse to submit the bill to the general meeting of shareholders to vote. "Shanghai myeongryun lawyer Wang Zhibin told reporters that the analysis said.

Internal or contradictory

Informed sources told reporters that the removal of large shareholders behind, originated in the remuneration of vice chairman Zhao Jun. Vice chairman of the contract is about to expire, but it has not yet settled with the remuneration of listed companies. On the other hand, the vice chairman of the board of directors has not expired. As a result, the fate of the vice chairman will become a problem, the two sides in a stalemate. In desperation, there was a major shareholder proposal to remove the vice chairman of the scene. "It is worth noting that the big shareholder removed vice chairman of storm occurred time, coincided with the transformation to the education industry as kingsun.

Under the development of LED industry slowdown in the background, part of the LED lighting companies have chosen to seek a second main industry, KingSun is no exception, the choice of education industry. In August 19th this year, KingSun announced that the company issued shares to buy 100% stake in Guangzhou Longwen education has completed the transfer of Guangzhou, Longwen education has become a wholly owned subsidiary of qinshang. Thus, KingSun also announced that the company achieved semiconductor lighting products and K12 education before college counseling service double main industry layout.

The insider also further said that the future to KingSun industry from LED to the education industry, but the transformation process will involve the interests of related issues, the old employees may be mixed with resentment against the company's transformation.

Card Hang Seng Securities Research Institute analyst Xiao Mingliang believes that the big shareholders can not simply be understood as vice chairman of recall is that the two sides have contradictions. "On the ground at present foreign caliber is still to be two main business operations. How to develop the main industry LED follow-up may consider education sector on the ground, floor layout conditions, the short listed companies will not immediately stripped of LED business. "

Double main industry transformation to be solved

Vice chairman of large shareholders to try to recall the storm, or just KingSun transformation of a small episode. Market participants believe that the company is concerned, the most urgent problem is: how to coordinate the development of the main industry situation.

Pacific Securities analyst Wang Wenjing in a research report released recently said, to solve the contradiction between "gene education" and "capital operation" KingSun transformation. The company's original business and no education genes, but the company is also the most difficult to chew a piece of the field of K12, the company leadership level how to re architecture, management planning education services business, is the future development of the difficulties. Although the level of capital operation, can continue in education assets, grow up fast, but the education of asset operation and the cooperation and the future strategic layout, is whether the transformation of the key elements of successful and sustainable development. "Xiao Mingliang also said that the development potential of the domestic education market is large, in 2015 the market size is 1 trillion and 600 billion yuan, the education policy will gradually open support for the next five years, the education market growth space is very impressive.

It is worth mentioning that, although founder Li Xuliang KingSun has withdrawn from the listed company management ranks, but it has increased the control of listed companies. Since the early days of listed companies involved in the transaction was not disclosed in a timely manner