Interface News Reporter |Niu Qichang.The actual controller of an A-share listed company was arrested.Interface News Editor |
On the evening of December 1, Zowee Technology (002369SZ) announced that the company learned that Xia Chuanwu, the controlling shareholder and actual controller, was arrested by the Shenzhen Municipal Public Security Bureau on suspicion of insider trading and market manipulation with the approval of the Shenzhen Intermediate People's Court.
It is reported that Xia Chuanwu has resigned from the positions of general manager and chairman of Zowee Technology in May 2018 and August 2018 respectively, and will not hold specific positions in the company after his resignation.
Zowee Technology said, "At present, the production and operation of the company and its subsidiaries are normal, and various businesses are progressing steadily, and this matter will not have a significant impact on the company's daily production and operation activities." The company's management will continue to promote various production and operation activities in accordance with the established development strategy. ”
In China, insider trading and market manipulation are serious violations, and in accordance with the relevant provisions of the Criminal Law, these acts may be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and/or a fine of not less than one time but not more than five times the illegal gains. If the circumstances are particularly serious, the penalty will be heavier and can reach more than 10 years in prison and a fine. Fu Jian, director of Henan Zejin Law Firm, told Jiemian News.
According to public information, Zowee Technology is mainly engaged in the research and development, manufacturing and sales of network communications, consumer electronics, and intelligent terminal products, including network communication terminals and portable consumer electronics, and its customers mainly include Huawei, Xiaomi, 360, Samsung and other well-known enterprises in the industry.
Xia Chuanwu, the actual controller of Zowee Technology who was arrested this time, has the name of "Lei Jun's fellow countryman", and Zowee Technology is also regarded as an important foundry of Xiaomi.
In fact, as early as October 2020, Zowee Technology disclosed that the actual controller Xia Chuanwu was arrested by the Ningbo Municipal Public Security Bureau on suspicion of manipulating the market.
Tianyancha APP shows that Xia Chuanwu was born in 1973, and previously served as the engineer and manager of the technical department of the second electronic component factory in Xiantao City, Hubei Province, the deputy general manager of Shenzhen Gaojia Electronics, the legal representative, executive director and general manager of Shenzhen Furuikang Electronics, and the director of Furuikang Electronics (Shenzhen).
Xia Chuanwu has served as the general manager of Zowee Technology since its establishment in 2004. In March 2010, Zowee Technology was listed on the Shenzhen Stock Exchange, Xia Chuanwu has served as the chairman of the company since July 2013, and the original controlling shareholder Tian Yu** shares cashed out.
Combing the context of Xia Chuanwu's arrest, it can be found that the "accident" appeared on August 20, 2018, when the board of directors of Zowee Technology suddenly "changed blood", and Xia Chuanwu left with a number of company veterans, including general manager Yang Yiming and financial director Zeng Zhaohao.
Behind the great change in the board of directors, Zowee Technology is "making efforts" for the acquisition of Shenzhen Tengxin Precision Adhesive Products, hereinafter referred to as "Tengxin Precision").
*: Transaction planIn May 2018, Zowee Technology suspended trading to plan for reorganization, and planned to purchase 100% of the equity of Tengxin Precision by issuing shares and paying cash, and raise matching funds.
Some analysts believe that the acquisition of Tengxin Precision by Zowee Technology is the company's move to get rid of OEM processing and enter the 3C precision manufacturing industry.
In September of the same year, Zowee Technology disclosed the related party transaction plan: the company plans to acquire 100% of the shares of Tengxin Precision by issuing shares and paying cash, and the transaction ** is 63 billion yuan. At the same time, Zowee Technology plans to raise funds from no more than 10 specific targets such as Xiaomi Technology (Wuhan) and Optics Valley Investment47.3 billion yuan.
However, the estimated value-added rate of this acquisition is as high as 53953%, which aroused doubts from the Shenzhen Stock Exchange. The Shenzhen Stock Exchange requires Zowee Technology to make detailed inquiries on the business status of the target, the capital contribution of the counterparty, and the raising of supporting fundsand the specific basis, reasonableness and feasibility of whether the subject matter has sustained profitability are required to be explained.
On November 12, 2018, Zowee Technology resumed trading, and the stock price fell on the day of resumption. Until May 2019, Zowee Technology suddenly issued an announcement on the termination of the issuance of shares to purchase assets, and the acquisition of Tengxin Precision was ultimately fruitless.
Just on March 13, 2019, that is, two months before the announcement of the termination of the acquisition of Tengxin Precision, Xia Chuanwu had ** his 1155270,000 shares, accounting for 19919%。
Xia Chuanwu's "criminal evidence" of insider trading laid the groundwork for his future arrest.
On October 29, 2020, Zowee Technology disclosed that Xia Chuanwu was arrested by the Ningbo Municipal Public Security Bureau the day before yesterday on suspicion of manipulating the ** market. However, the details of the case have not been disclosed.
It was not until May 28, 2021 that the "Advance Notice of Administrative Punishment" issued by the China Securities Regulatory Commission (CSRC) was unveiled. According to the penalty notice, Xia Chuanwu cashed out through a large transaction during the insider sensitive period when the company planned to terminate the restructuring11.2 billion yuan, accounting for 1 of the total share capital of Zowee Technology9919%，The amount of loss avoidance is calculated to be 2130840,000 yuan, which is suspected of constituting insider trading. The China Securities Regulatory Commission intends to decide to confiscate Xia Chuanwu's illegal gains 2130$840,000 and a fine of the same amount.
The above decision was finally confirmed by the CSRC on October 25 of that year, and Xia Chuanwu was fined a total of more than 42.6 million yuan.
Regarding Xia Chuanwu's arrest for the "second time", Fu Jian, director of Henan Zejin Law Firm, believes that it may be because there is new evidence pointing to his suspected new criminal acts, or there has been new progress in the previous case.
In terms of legal procedure, each crime is a separate case, so there is no conflict between the previous arrest and the current arrest. If there are indeed new facts of the crime, then the ** and the judicial organs will handle it in accordance with the law and ensure a fair trial of the case. Fu Jian told Jiemian News that this information is only for public reports, and the real legal procedures and specific circumstances may be more complicated, and it is necessary to wait for the official announcement of the judicial authorities and the results of the trial.
Jiemian News noticed that although Xia Chuanwu was arrested "twice", he is still the actual controller of Zowee Technology. On November 25 this year, Xia Chuanwu's 25 million shares of the company that were judicially auctioned have also been registered, and he currently holds 7,231 shares of the company720,000 shares, with a shareholding ratio of 1276%。
Zowee Technology said that at present, the production and operation of the company and its subsidiaries are normal, and this matter (actual controller**) will not have a significant impact on the company's daily production and operation activities.