Market value over 700 million! Wu Changjiang holds shares of judicial auction bonded Elec-Tech

NVC founder Wu Changjiang directly held property to compulsory disposal. The evening of January 5th, A shares of listed companies Elec-Tech second major shareholders announcement, Wu Changjiang holding 130 million shares will Elec-Tech judicial auction, the total share capital of 9.31%.

Wu Changjiang (2016) in December, has been sentenced to one year imprisonment of the court of first instance for 14 years. It is reported that Wu Changjiang is still in the back to the court in August last year, the two listed companies, NVC Elec-Tech (H shares), request to terminate the cooperation agreement in 2012, Wu Changjiang returned 130 million BDO Runda A shares back to the original NVC 587 million 429 thousand H. The industry believes that It is all up with NVC founder Wu Changjiang, it is difficult to comeback.

Zhuhai Court Enforcement auction debt repayment

The announcement said that recently received the "Guangdong Province, Zhuhai City Intermediate People's Court Notice", the notice said: Zhuhai City Intermediate People's court in the implementation of the Tibet Linzhi Fu investment company limited, new world strategy (Beijing) Investment Consultants Limited for enforcement, Wu Changjiang Huizhou NVC Light Environment Engineering Co. Ltd., Shandong NVC development limited loan disputes two during the case, as Wu Yangtze River, if the person subjected to execution conscientiously fulfill the obligations determined in effective legal documents, the Zhuhai City Intermediate People's court decided to auction the debtor Wu Changjiang held 130 million shares after the first personal Elec-Tech class of restricted shares. Notice that the auction will be 130 million shares, accounting for the total share capital of 1 billion 396 million 400 thousand shares of 9.31%. The company will continue to focus on the progress of the auction, and in accordance with the relevant laws and regulations in a timely manner to fulfill the obligation of information disclosure.

130 million shares currently worth more than 700 million yuan

As of January 5th 19, the reporter query Taobao, has not yet found the relevant auction subject information.

In January 5th, China closed 5.91 yuan, the 130 million stock market value reached 768 million 300 thousand yuan, is split into two parts, the 72 million 222 thousand and 222 stock market value of 426 million 830 thousand yuan, another 57 million 777 thousand and 778 shares worth 341 million 470 thousand yuan.

Elec-Tech last August 30th announcement, Wu Changjiang holds a total of 130 million Elec-Tech A shares, as the second largest shareholder of BDO, were set prior to judicial freeze, claims the total target is 710 million yuan, of which part of the claims with the registration of the pledge has priority. Consider other claims to set the stock of NVC is expected through this lawsuit can get about 219 million yuan.

Wu Changjiang lift the agreement is difficult to have a chance of winning

Last December 21st, NVC founder Wu Changjiang for the crime of misappropriation of funds, embezzlement, was in Guangdong Province, Huizhou City Intermediate People's court sentenced to 14 years imprisonment, confiscation of 500 thousand yuan, 3 million 700 thousand yuan and ordered restitution to victims unit of Chongqing NVC Co. ltd.. Wu Changjiang's assistant to misappropriation of funds, Chen Yan was sentenced to 3 years imprisonment, suspended for 3 years. There are reports that Wu Changjiang refused to appeal.

It is reported that, although the judicial compulsory measures have been taken, Wu Changjiang still does not give up any opportunity, in August 2016, Wu Changjiang to the Huizhou city Huicheng district court, Elec-Tech NVC, and additional NVCInc. for third people, 2012 request to terminate the cooperation agreement.

The plaintiff Wu Changjiang said, the related defendant signed a "cooperation agreement" in 2012, the "cooperation agreement" mainly promote the overall strategic cooperation with NVC Elec-Tech planning and reached a preliminary intention, Wu Changjiang claims that the contract is invalid, the contract both the original defendant acquired property shall be returned to the plaintiff based on the name of Wu Changjiang holdings the 130 million shares, shall return all Elec-Tech according to law, Tokunho Jundachiko, BDO Hongkong NVC shares held 587 million 429 thousand shares, shall return the plaintiff Wu Changjiang. At the same time, Wu Changjiang asked the defendant to compensate for the loss of interest on the loan due to the above Agreement invalid 5 million 800 thousand yuan, and bear the cost of the case. Huicheng District Court in August 2016 accepted the case, Elec-Tech has on September 2016 on the case of jurisdiction objection. As of October 28, 2016, the case is in the jurisdiction of the trial stage.

It is reported that it is through the 2012 agreement, in January 2013, Wu Changjiang participated in the BDO will increase, 5.86 yuan / share, the subscription of 130 million A shares, becoming the second largest shareholder of china. In April 2014, a subsidiary of Hongkong Elec-Tech Elec-Tech, made Hong Kong listed companies NVC 27.03% stake, becoming its largest shareholder. After that, Wu Changjiang gradually lost control of NVC, and illegal, eventually imprisoned.

Chongqing Guoyuan securities investment adviser Mao Sheng believes that although Wu Changjiang filed the lawsuit, Wu Changjiang It is all up with the difficult odds, comeback.

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