NVC announcement said Wu Changjiang unauthorized loan amount involved more than 600 million

NVC announced on 19 May, before the release of chairman Wu Changjiang alleged misappropriation of company funds, and on behalf of the company without loan survey results, display entered into a 14 loan pledge agreements, a total of about 640 million yuan Wu Changjiang past on behalf of the company, and from 550 million yuan. NVC estimates that money can be recovered up to about 320 million yuan of money. In addition, the company because of its $80 million loan, the bank was frozen over 54 million yuan.

NVC: five company Wu Changjiang loan agreement involved, including Wu Changjiang's wife Wu love, father Wu Xianming et al held. Photograph of sina NVC announcement from Hong Kong

NVC released Wu Changjiang unauthorized loan survey results. Source: Hongkong stock exchange website

Notice that Wu Changjiang in the past to the Bank of China, ICBC, the people's Bank of China and China Construction Bank, entered into a number of pledge guarantee agreement. After investigation, the company believes that the five companies involved in the loan agreement, including Wu Changjiang's wife, Yue Fuwu love Wu Kenmei holding et al. The company has launched legal proceedings, such as Wu Changjiang, claims 600 million yuan, the court has also issued a decree to freeze the assets of about $1 billion, such as Mr. Wu Changjiang. NVC chairman Wang Donglei said earlier, the company completed the survey after the announcement, will apply for the resumption of the preparatory work for the resumption of trading in the third quarter.

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