Written by: Our reporter Jiao Meng Li Jia Wang Jingyang

In the unpredictable and turbulent capital market, having a stable top management is one of the important criteria for investors to measure whether listed companies have investment value. In 20 14, many listed companies in China experienced huge high-level personnel turmoil, some of which were "dismissed" because of cases and some were "arrested" because of internal strife. The executives of these listed companies either "lost contact" or "disappeared" before their fall. Although some bosses "lost contact", it has affected the daily operation of listed companies, even affected the stock price of listed companies, and then affected the vital interests of investors, which is distressing.

a smokeless war

Wu Changjiang, former CEO of NVC Lighting, fell into the hands of former comrades-in-arms

Event Review: On August 8th, NVC Lighting announced that Wu Changjiang and Wang Donglei were at odds, Wu Changjiang was forcibly dismissed as CEO, and Wang Donglei, chairman of NVC Lighting and chairman of Dehao Runda, took over. Subsequently, at the extraordinary shareholders' meeting of NVC Lighting on August 29th, Wang Donglei led many departments to point out that Wu Changjiang gave and received benefits privately, and accused Wu Changjiang of illegally guaranteeing NVC Lighting without the knowledge of the board of directors, which may lead to a huge loss of 65.438+73 billion yuan for NVC Lighting, and voted to remove Wu Changjiang from any post in NVC Lighting. Immediately, the two men confronted each other from a distance, mutually exclusive, trying to empty the company, and set off a "shirtless war" in the capital market. During this period, Wu Changjiang was forced to leave the NVC lighting he created three times and go back twice to show his innocence.

This infighting upgrade, NVC lighting intensified, dealers stopped supplying, and the bill was "flying all over the sky". It was not until the afternoon of1October 28th that 10, the official Weibo of NVC Lighting issued a "notice of filing a case", and Wu Changjiang's whereabouts gradually became clear. Huizhou Public Security Bureau confirmed to the outside world that Wu Changjiang was put on file for investigation by Huizhou police on suspicion of misappropriating funds. 12 16, some media asked Huizhou Public Security Bureau for verification. Huizhou Public Security Bureau confirmed that Wu Changjiang was indeed criminally detained by Huizhou police on suspicion of misappropriating funds, but the case is still under investigation.

Comments: Wu Changjiang, the founder, probably never thought that he would come to such a situation: he was fired three times a year. "Every time it is dangerous, every time it is fierce." Wu Changjiang complained in front of the media more than once, leaving him with more accusations and helplessness. After all, he fell into the hands of former comrade-in-arms Wang Donglei. Wu Changjiang once said, "I am naive and credulous", but now he is really hard to be trusted. No matter who hollows out listed companies, the law will give the answer, but the victim of this struggle, NVC lighting, has long been riddled with holes. Now, the problem facing NVC lighting is, where did the boss go? Whether we can retain the determination of investors, regain the confidence of dealers, and establish the brand of NVC in the promising LED forest are all urgent problems for NVC lighting.

Is Fang Wei, the former chairman of Fangda Group "lost contact" a mystery?

Fax, handwritten signature, self-certification, without losing contact

Event Review: On June 27th, the NPC Standing Committee announced that the Standing Committee of Liaoning Provincial People's Congress removed Fang Wei from his post as the representative of the 12th National People's Congress. Subsequently, the news that Fang Wei lost contact came out.

Since the announcement, Fangda listed companies have been affected. Three listed companies, Fangda Special Steel, Fangda Carbon and Fangda Chemical, suspended trading urgently. On the evening of July 1 this year, the three companies also issued a clarification announcement about the actual controller Fang Wei. Three companies stressed that although Fang Wei is the actual controller of the company, he does not hold any post and does not participate in daily affairs, and the company's operation and production are all normal.

In order to dispel market doubts, on July 2, three listed companies under Fangda Group issued a self-inspection announcement, saying that Fangda Group said in writing that Fang Wei had not lost contact and was still making arrangements for the related work of the group company, and attached a fax document signed by Fang Wei himself. At the top of the fax document, Wei signed a statement that "the finance department, securities department and other relevant departments of the group company have been asked to actively cooperate with listed companies to do relevant self-inspection work in accordance with the requirements of the inquiry letter".

At the same time, Fang Da Group, the actual shareholder of the three listed companies, wrote that Fang Wei has not lost contact at present and is still working in the deployment group. Fangda Special Steel and Fangda Carbon also announced that they had received a work fax signed by Fang Wei himself from Fangda Group. Fang Wei said in the letter that the finance department and the securities department of the group company should actively cooperate with the relevant self-inspection work according to the requirements of the inquiry letter of listed companies.

According to public information, Fang Wei is the chairman of the board of directors of Liaoning Fangda Group Industrial Co., Ltd. In the "20 12 Young Rich List" published by Hurun in 20 12, he ranked second with wealth1500 million yuan.

Comments: After Fang Wei was removed from the post of NPC deputy, his so-called "family history", especially the dispute over Fangda Group's early participation in the restructuring of Nangang, was "dug up" again. It is believed that there are huge benefits in the relevant restructuring process, especially many preconditions set for the transferee, which were once accused of being "tailor-made" for Fangda Group.

Haixin steel turned from prosperity to decline.

Jong Li Zhao Hui "disappeared" to avoid creditors.

Event Review: More than 9 months have passed since Haixin Iron and Steel announced the suspension of production on March 18 this year. As a well-known private steel enterprise in Shanxi Province and even the whole country, and as a pillar industry in wenxi county, Haixin Mansion ended up in disgrace by closing down. Li Zhaohui, Haixin rumbled, is naturally to blame, but in front of thousands of debt collectors, it is puzzling that this rumbled has not made a public statement so far.

There is no denying that Haixin Steel was once brilliant. Since Li Haicang, the former chairman, founded Haixin Iron and Steel, Haixin has been regarded as the pride and backer of wenxi county by the local people. From the beginning, a small steel mill with assets of only 400,000 yuan has rapidly grown into the largest private steel enterprise in Shanxi Province, which is a pillar industry in wenxi county with more than 65,438+100,000 employees. Haixin has been creating his own "myth".

However, this myth took a turning point after the shooting incident on June 22, 2003, when Li Haicang was accidentally shot. At this time, Li Zhaohui, who returned from studying abroad, was ordered to take over Haixin Steel. With support and doubt, Li Zhaohui lived up to expectations and continued the glory of Haixin Iron and Steel in his early days in office.

Through the capital operation carried out by Haixin Industry, Li Zhaohui made the Hurun Report for two consecutive years in 2007 and 2008, and was also named the youngest richest man in Shanxi. However, the market's obsession with Li Zhaohui's finance and carelessness with the steel industry also followed.

However, with the steel industry entering the cold winter, the "hidden danger" of Haixin Steel finally broke out. At this time, people discovered that Haixin Shao Shuai was originally a boss who "doesn't love steel but loves investment". When the operation of steel mills is in a quagmire, the debt loopholes of Haixin Steel are getting bigger and bigger. According to public information, the existing liabilities and external guarantees of Haixin Group are about 654.38+0.0459 billion yuan, while the book assets of the whole Haixin Group are only 65.438+0.068 billion yuan, which means that its debt ratio exceeds 654.38+0.000%.

Comments: Now Haixin Steel has become an empty factory, the blast furnace has long been closed, employees have been sent home and other news, and debt collectors have blocked the company's door, but most of them have failed. 165438+ 10/2, Shanxi Yuncheng Intermediate People's Court issued five announcements, formally ruling to accept the claims of four creditors against Haixin Steel.

Apply for bankruptcy reorganization. Water under the bridge. As the head of the company, Li Zhaohui, the initiator of Haixin Steel's bankruptcy, kept his mouth shut and never made a public statement or explanation. Li Zhaohui's attitude also made many debt collectors and key factory employees feel from suspicion to anger to disappointment. Haixin Iron and Steel's debt crisis has not been satisfactorily resolved, and Li Zhaohui's whereabouts remain a mystery. As the year is approaching, we can't help asking: "Li Zhaohui, Chairman of Haixin Iron and Steel, where have you been?"

Chairman netqin stepped down

The suspected "missing link" is related to the case of Rui Chenggang.

Event Review: On February 20 14, NetQin, an American listed company engaged in mobile phone and network security business, announced that Lin Yu, chairman and co-CEO, resigned for personal reasons unrelated to the company. According to Omar Khan, co-CEO of NetQin, the board of directors decided to leave Lin Yu a few months ago, which was Lin Yu's personal decision and had nothing to do with NetQin.

After the announcement of his resignation, Lin Yu did not make any personal explanation or statement. At the same time, Lin Yu's cell phone has been turned off. According to some media, insiders of NetQin have been unable to contact Lin Yu for many days, and they are suspected to have lost contact. Lin Yu's personal Weibo also stopped updating after June 5th this year.

When the market asked where Lin Yu had gone, some media revealed that Rui Chenggang had a good relationship with NetQin. According to the report, Rui Chenggang's new book "The Combination of Reality and Fiction" has received a lot of support from NetQin. Lin Yu, CEO of NetQin, participated in Boao Forum, and mixed a young leader round table guest, sitting at the same table with the host Rui Chenggang, which was also the result of Rui's help. PricewaterhouseCoopers, which delayed giving NetQin an annual report on problems, was finally replaced.

Comments: At present, the whereabouts of Lin Yu is still a mystery, and NetQin, founded by him, has been unable to get rid of negative news since it was accused of "manipulating a major scam" by muddy water company, an American research institution, last year. Although netqin has handed over the annual audit report of 20 13. However, Muddy Water believes that the report is "biased" and suspects that there is insider trading in NetQin shares, requiring the regulatory authorities to investigate NetQin as soon as possible.

At the same time, after NetQin submitted its annual report of 20 13, the company released three quarterly reports of 12 and 19, saying that the company's net revenue in the first three quarters totaled $242.6 million and its net loss totaled $55 million.

At the same time as all kinds of unfavorable news came out, NetQin began to adjust the list of board members and actively released the news that the company was operating well. However, it remains to be seen whether this can offset the negative news that the chairman lost contact after leaving office.

"Exile" overseas for two years

Xu Yusuo, the actual controller of Yuanwang Valley, surrendered to China.

Event Review: Yuanwanggu 65438+February 1 Announcement The company was informed on the evening of 2014 65438+1October 28 that the former chairman and legal representative of the company, Xu Yusuo, voluntarily returned to China to surrender himself and actively cooperated with the procuratorate to handle the case. The procuratorate took measures to obtain a guarantor pending trial against Xu Yusuo, and claimed that everything in the company's business activities.

Meanwhile, according to the announcement, Mr. Xu Yusuo is the controlling shareholder and actual controller of Wang Yuangu. According to public information, as of the end of September 20 14, Xu Yusuo held 25. 19% of the shares of Wang Yuangu.

Two years ago, Xu Yusuo, then a deputy to the Shenzhen Municipal People's Congress, was suspected of bribing Liu Ruiyang, deputy director of the Vehicle Department of the former Ministry of Railways. On October 24th, 20 12,1kloc-0, the Shenzhen Municipal People's Congress authorized the procuratorate to take compulsory measures against Xu Yusuo, and Xu Yusuo began to flee to the United States and Singapore, with his wife Chen as acting president and chairman of Gu.

On February 24 and September 29 this year, Wang Yuangu's two investments seemed to coincide with Xu Yusuo's overseas trajectory. Yuanwanggu announced that on February 24th, Yuanwanggu agreed that its American subsidiary Yuanwanggu Technology (USA) Co., Ltd. would invest US$ 6.5438+0 million to set up a wholly-owned European subsidiary. Yuanwanggu transferred 0/00% equity of Yuanwanggu Technology (USA) Co., Ltd./KLOC-to Yuanwanggu Technology Co., Ltd., another wholly-owned subsidiary of the company, and Yuanwanggu happened to be located in Singapore.

During the period after Xu Yusuo left, the performance of Yuanwang Valley declined sharply. In 20 13, the operating profit of Yuanwang Valley was 20,454,500 yuan, down 83.63% from the previous year. In the first two quarters of this year, its performance is also declining. In the third quarter of this year, the business situation improved obviously, with operating income increasing by 26.20% and net profit increasing by 9655.

Comments: At the beginning, a series of corruption cases in the railway system were all caused by a "sky-high price" propaganda film of the Ministry of Railways, which cost18.5 million yuan. Among them, Liu Ruiyang, then deputy director of the Vehicle Department of the Ministry of Railways, was involved in the case, while Xu Yusuo, a former Hurun tycoon, fled because he was investigated for bribing Liu Ruiyang.

Wangyuan Valley was built 15 years ago. Starting from the first four employees, Xu Yusuo worked as a part-time driver himself. Earlier years ago, the IPO price opened higher by 60 yuan per share, with a value of 654,380.5 billion yuan. Then compulsory measures were taken on suspicion of accepting bribes, and Xu Yusuo returned to China and surrendered himself. The cycle of Xu Yusuo's fate whirlpool makes people sigh.

Meng Kai, the chairman of the board, has been slow to go back abroad to look for funds.

Zhongke Wang Yun encounters the dilemma of capital chain.

Event Review: Since the announcement of the transformation of big data, the once "catering first" in Hunan and Hubei has been plagued by chronic diseases. As soon as we entered 65438+February, the news spread like wildfire that Meng Kai, the chairman of the board of directors, had not returned from abroad, and the "cook" who had been renamed as Zhongke Wang Yun Science and Technology Group Co., Ltd. was caught in a new development crisis.

It is reported that Meng Kai, chairman of Zhongke Wang Yun, began to travel abroad after the "Eleventh" holiday, mainly to raise funds for the payment of corporate bonds and other matters, and to find buyers for the disposal of related assets. Meng Kai mainly arranges work and participates in decision-making by telephone, mail and fax.

Insiders of Zhongke Wang Yun claimed to the media that Meng Kai returned to China after more than two months abroad, and was currently dealing with foreign assets and negotiations. The main reason is that the company has indeed encountered financial problems at present. Therefore, the company has suspended the pace of the company's transformation and acquisition, but the previously signed contract is still being implemented, and there is uncertainty in the company's future acquisition.

20 12, 12 the central government issued the "eight regulations" and other policies, and the high-end catering representative Xiang Eqing lost 564 million yuan in 20 13. Although Meng Kai has repeatedly laid out low-end restaurants or tried to turn losses by selling assets, closing stores and getting involved in environmental protection, the struggle of Hunan and Hubei did not let investors see hope.

In June this year, Hunan and Hubei announced a high-profile departure from catering, transforming the layout of big data, and wanted to dig gold through the Internet, but at present, the effect is not satisfactory.

It is understood that Zhongke Wang Yun currently has 42 directors, supervisors and senior managers, 29 of whom have left their posts. In other words, about 70% of executives have died, and the former "first share of domestic catering" has become the "first share of executives leaving" in the stock market.

Comments: When the chef waving "spoon" encountered a downturn in the industry, he did not practice his internal skills to make the enterprise better and stronger, but chose to make a living by constantly transforming and selling assets, which not only made investors lose confidence, but also surprised the whole team. At this time, Meng Kai has suddenly transferred its assets abroad for two months, which also makes the future development of Zhongke Wang Yun in the climbing period full of variables.

The current situation of the company has to be said that it is mainly the diversified development and transformation of Hunan and Hubei, so that most executives can't see the future development of the company. However, under the background that the profit expectation after the transformation is far away, executives gradually lose confidence in it. For Meng Kai, the chairman of the company, "going abroad" is obviously not a wise move. It is imperative to go back to China to face the difficulties and go forward bravely.

Pi Nuo's boss "lost contact" is wanted all over the world.

The company plans to reorganize and wait for the price to be sold.

Event review: Pinocchio, once known as the first "fast fashion" brand listed in Hong Kong, went from a single store to a chain brand and then to the Hong Kong Stock Exchange. Who would have thought that this listed company, which mainly produces casual men's wear, would fall into huge debts, and its boss lost contact and was wanted by Interpol's red wanted order?

Looking back on July 25th, Pinocchio announced that "Hui Ding, the chairman of the company, lost contact". Since then, Pinocchio's board of directors immediately announced on July 3 1 that on July 27 and April 3 this year, Hui Ding has instructed to transfer RMB 50 million and HK$19.55 million from the bank account of Pinocchio Fashion International Co., Ltd., a wholly-owned subsidiary of the company in Hong Kong, to the account of a British Virgin Islands company. At the same time, on June 27th this year, 65438+ and March 27th 1 1, Hui Ding instructed Noci Fashion to transfer 654.38+0.6 billion yuan and 2.5 million yuan from the bank account of Bank of Communications Hong Kong Branch to the bank account of Noci Fashion in Xiamen International Bank respectively. This means that from June to April, 65438, Hui Ding transferred the funds of Pinocchio Company four times, totaling 228 million yuan.

After Hui Ding lost contact, creditors came to collect debts. According to Pinocchio's announcement, the company and its subsidiaries received notices from Xiamen International Bank, Minsheng Bank and Shandong Trust, accusing Pinocchio of providing guarantees or mortgage securities for loans totaling 455 million yuan for several non-group members. However, it is generally believed in the industry that Hui Ding and his wife, Chen Ruiying, have fled to Hong Kong, and their total loan amount exceeds 654.38+0.5 billion yuan.

Comments: For Hui Ding's loss of contact, some insiders commented that the capital chain was broken. In fact, it is not uncommon for Pinocchio's boss to lose contact in Fujian Province, mainly due to the shortage of funds. Judging from the overall trend of the local clothing industry, it is precisely because of the overcapacity of the industry and the homogenization of products that most enterprises have too high inventory and cannot be realized, which leads to the loss of funds for continuing operations and eventually has to run away. I believe that after this reshuffle, the industry will have a new start.

Agile boss returns after 75 days of "losing contact"

The financing plan fell through and the sales target was difficult to achieve.

Event Review: Near the end of the year, Agile, a veteran real estate company that has experienced a bumpy year, can finally breathe a sigh of relief. On the evening of 65438+February 65438+April, Agile announced that the company had learned that the Measures for Residential Surveillance in Designated Houses of Kunming People's Procuratorate no longer applied to Chen Zhuolin, and would resume the duties of executive director, chairman and president of the company from June 65438+February 65438+May.

Compared with many companies in trouble, the boss is missing, and the whereabouts of Agile boss Chen Zhuolin are very certain. However, he can't go anywhere else because the company's project in Yunnan may go wrong. Boss Chen was executed by Kunming People's Procuratorate.

It is reported that boss Chen's "accident" is related to the company's Yunnan project, which is likely to involve transferring benefits to local officials. According to public information, Agile currently has four projects in Tengchong, Ruili, Xishuangbanna and Kunming in Yunnan * * *, while Agile's semi-annual report shows that as of August this year, the average floor price of Yunnan projects except Kunming is only 198 yuan/square meter, which is only the same kind of projects 1/8. The low cost of land acquisition has intensified the speculation that Agile is suspected of profit transfer.

At the same time, Huang Fengchao, the executive director in charge of Agile Yunnan and Hainan real estate projects, was confirmed to have lost contact with the company on June 65438+1October 65438+June. Before Huang Fengchao lost contact, he asked the general manager of Agile Tengchong Project to assist CPC Central Commission for Discipline Inspection in the investigation. However, Boss Chen finally returned safely, and Huang Fengchao, executive director of Agile and vice president of the group, also returned to his post. However, some people think that Agile's current announcement can only show that Chen Zhuolin is temporarily safe, but it does not mean that Chen Zhuolin and Agile have escaped the corruption investigation in Yunnan.

During the more than two months that Boss Chen lived under the surveillance of the prosecution, Agile had a very difficult life. At first, the company had to urgently stop the financing plan of HK$ 2.8 billion. After the resumption of trading, the share price once fell by more than 30%, and the rating agency even downgraded the company.

Comments: In fact, real estate has always been a high-risk area for officials and bosses to "have an accident". According to media statistics, since 2000, half of senior officials at the provincial and ministerial levels have been involved in real estate, and the reason is self-evident. But as a publicly listed company, it is still a red line to abide by the basic legal bottom line, especially the founder of the company. Once an accident happens, it will undoubtedly have a huge impact on the company, which may not only destroy the enterprise that you have worked so hard for half your life, but also hurt investors, large and small. In addition, in view of the serious corruption in the real estate sector, the transparency of official assets and real estate transaction information should be implemented as soon as possible, so that officials can hide their improper real estate, which will also be conducive to the healthier development of the real estate industry.

Caesar's boss Guo Yingcheng "naked resignation"

The Guo family completely withdrew from the management.

Event review: Caesar's sales performance this year can be said to be quite good against the background of the overall poor property market. However, Guo Yingcheng, the boss of the company, announced at this time that he would sell part of his shares from the company "naked resignation" to Sino-Life, which was controlled by his fellow countryman Zhang Jun, and Sino-Life sent someone to the board of directors of the company.

It is reported that Guo Yingcheng's resignation is probably related to the fall of some officials in Shenzhen, but Zhang Hongguang, chief financial officer of Caesar Group, said that Guo Yingcheng resigned "because he was worried that personal rumors would continue to affect the company's share price". At the same time, Guo Yingcheng, his brother and former executive director Guo Yingzhi are all in Hong Kong and have not been taken away by the relevant departments.

It is reported that the fuse of Guo Yingcheng's flash resignation originated from Caesar's Shenzhen housing being locked not long ago.

Subsequently, on February 4, 65438, Dazheng Investment, a subsidiary of Guo Yingcheng's family, reduced its holding of 575.5 million old shares (1 1.2 1% of Caesar's total share capital) to Sino Life, increasing its shareholding in Caesar to about 29.96%. And promoted to the single largest shareholder of the company. After the sale, the shares held by the Guo family through the family trust fund were reduced to 50. 14% (previously, the Guo family trust fund held 6 1.35% shares through Dachang, Dafeng and Dazheng).

On the evening of 12, 10, Guo Ying, the founder of the company, resigned from all his posts in Caesar for "health reasons", including chairman of the board of directors, executive director, chairman of the nomination committee, members of the remuneration committee and authorized representatives of the company, which took effect on12,31. At the same time, Guo Yingzhi, Guo Yingcheng's younger brother, was transferred from executive director to non-executive director because he "wanted to devote more time to his personal career development". Because Guo (chairman of Fuchang Financial Group), the eldest brother of Guo's three brothers, doesn't work in the group. In this way, at least on the surface, the Guo family has completely withdrawn from the management of the right.

Comments: The resignation of the senior management of the board of directors is the unanimous choice of many Hong Kong listed companies caught in the storm, which is conducive to minimizing the negative impact and maintaining the normal operation of the company.

People close to Caesar also said, "Caesar's assets are actually quite large, including those of the older generation." However, in Hong Kong's capital market, the share prices of Chinese real estate enterprises are generally greatly discounted. The cost of the Guo family's exit by selling shares is very high, at least financially. Obviously, the Guo family made such a choice because of' necessity'. However, the upper position of Life Life is conducive to the stability of the company's operations, which is undoubtedly beneficial from the level of listed companies. "

In fact, the Guo family's current choice is undoubtedly the best solution. Although there will be some losses, at least most of the family businesses are still there. As the saying goes, "if you stay in the green hills, you are not afraid of burning without firewood." After escaping this storm, it is not impossible for the Guo family to make a comeback.