news

on the second day after being elected as vice chairman and general manager of gengxing co., ltd. (600753.sh, share price 5.15 yuan, market value 1.186 billion yuan), jiang binbin, the new financial director xu peng and the new secretary of the board tang fengfeng were all stopped outside the listed company.

at 11 a.m. on august 29, jiang binbin, xu peng and their group had been waiting in the lobby on the first floor of shanghai zhonggeng global creative center for two hours. according to the original plan, they were going to go upstairs to the office of gengxing co., ltd. to handle the handover, but they were stopped outside by several security guards on the grounds that they had not received any notification from the company.jiang binbin and others called the police twice for help, but as of noon that day, they still had not been able to enter the office area of ​​gengxing co., ltd.

according to zhejiang haixin, although the company's board of directors had completed a "blood transfusion" at the end of july this year, the new board of directors and the current management team are still blocked from the listed company's operating system.

where exactly is the conflict between the two sides focused on? at noon on august 29, tang yonglu, the former general manager of gengxing shares, responded to a reporter from the "daily economic news" via wechat, saying that the original shareholders hope for a smooth handover and a steady transition. at present, the original team hopes that zhong renhai, the actual controller of zhejiang haixin energy co., ltd. (hereinafter referred to as zhejiang haixin), the major shareholder of the listed company, can come forward to communicate with liang yanfeng, the former chairman of gengxing shares.

however, zhejiang haixin believes that tang yonglu's request is unreasonable. zhejiang haixin believes that the major shareholder has actually conducted appropriate communication. after acquiring the equity through judicial auction, the major shareholder has always been working hard and coordinating to ensure a smooth handover of the company's operations, but the original management team has not been cooperating with the relevant handover work.

the struggle between the new and old teams escalates, leaving confused employees worried about the two forces.

confrontation: a battle for official seal breaks out between the new and old teams

the conflict between the new and old management teams of gengxing co., ltd. has a long history.

according to a previous report by the "daily economic news", gengxing co., ltd. held an extraordinary shareholders' meeting on july 31 this year. the major shareholder zhejiang haixin, as the initiator, proposed to remove most members of the original board of directors of gengxing co., ltd. and elect new board members.

on the evening of august 28, gengxing co., ltd. further announced that the board of directors agreed to dismiss tang yonglu from the position of general manager, li xiuxin from the position of secretary of the board of directors, and liang mingmei from the position of deputy general manager. at the same time, the board of directors of gengxing co., ltd. agreed to elect jiang binbin as the company's vice chairman and general manager, appoint xu peng as financial director, and appoint tang fengfeng as secretary of the board of directors.

so far, all the original senior management team of gengxing co., ltd. were eliminated, and the listed company was fully taken over by the senior management team from zhejiang haixin.

but the matter was not that simple. on the same evening, gengxing shares announced that the company's official seal and license were lost.

"the original management personnel of the company should hand over the company's seals and certificates to the current management personnel of the company, who will re-determine the departments and personnel responsible for keeping the seals and certificates in accordance with the regulations. as of the date of disclosure of the announcement, the relevant personnel of the company stated that the company's seals and certificates had been lost and failed to complete the relevant transfer procedures."

the actual situation is even more "exciting" than the content of the announcement. according to the daily economic news reporter's understanding from multiple sources, the dispute between the two parties over the official seal began in the evening of august 28.

on the evening of august 28, the new executive team planned to go to the shanghai headquarters of gengxing shares to meet with the person in charge of keeping the official seal and transfer the seal and certificate information. however, they were told that the official seal of the listed company and the official seal of its important subsidiary shanghai gengxing energy co., ltd. were no longer kept in the listed company.

when the current management team handed over the seals to the seal custodian, apart from the official seals and certificates that had been received, there was no written record of the transfer of the missing official seals and certificates. as they could not personally confirm the existence of the official seals and certificates, the current management team issued a notice about the loss of the official seals and certificates that evening.

on the afternoon of august 29, a reporter from the daily economic news learned from tang yonglu that the listed company's official seal and license were all there and had not been lost."we have reported this to the shanghai stock exchange and the china securities regulatory commission. the official seals and certificates are all there and are kept intact in the listed company." tang yonglu did not respond to why the relevant materials were not handed over to the current management.

however, although tang yonglu claimed that the company's official seal and certificates were not lost, as of now, the current board of directors and management team of gengxing co., ltd. have not seen the above information in person.

the seals that the two sides were fighting over were not limited to the listed company. in the storm, several subsidiaries of gengxing shares were also implicated. according to zhejiang haixin, the current management team counted 84 seals of some subsidiaries that night. after the current general manager jiang binbin confirmed the handover, about 20 seals were "detained" by tang yonglu who came later. in addition, the u shield used by the listed company for payment was also "detained" by the original management team.

current management team:

“we are completely shut out of the system”

jiang binbin, xu peng and his team believe that the core of the problem is that there is no way to hand over the certificates and documents, and they are blocked from entering the office by security guards. "we are completely blocked from the system, including the oa system and the access control system... there are some employees in the team who are inclined to us, and the access control system has been blocked."

at noon on august 29, the reporter observed at the scene that a staff member who claimed to be the hr director of gengxing co., ltd. stopped the current management team who were planning to leave temporarily and asked the securities agent to return the u-shield. after the securities agent refused on the spot, the person said that he proposed to terminate the contract with the securities agent on behalf of the company's original management team, and the specific process had been completed last week. the securities agent immediately raised an objection, believing that the procedure was not compliant, and asked why he had not been notified and still undertook the disclosure tasks such as the semi-annual report.

the struggle between the two forces has left ordinary employees confused and caught in the middle. it is understood that there are currently about dozens of employees of gengxing co., ltd. in shanghai, who are still performing their duties normally according to job requirements, but due to management disputes and other reasons, some of the company's business has been affected.

the above-mentioned hr manager admitted to the reporter that the internal management structure of the company has not been sorted out yet, and employees do not know where things are going. "if i don't accept the work arrangement here now, will i get no salary from now on... at present, everything can only be done according to the inertia of the company. things that have been decided before can only be strictly implemented. we don't know how long it will last, but i think it may be within a short period of time. if the upper level has not completely handed over, the people below will not know what to do, which is also a worry for employees."

on the morning of august 29, due to the inability to enter gengxing’s office, chairman zhao chenchen, on behalf of the existing management team, issued a new notice in the employee wechat group of gengxing, suggesting that employees go to an office near a subway station in shanghai to work, but the group chat was immediately disbanded by the human resources manager.

"everyone wants a smooth transition. if a smooth transition is not possible, at least everyone is waiting for me, the hr department, to have a plan. many people want to know the answer, whether they need to leave or continue their current job." said the above-mentioned hr manager.

former general manager: they are "barbarians"

zhejiang haixin: removing senior executives is normal behavior

talking about the many conflicts between the two sides this year, tang yonglu compared the zhejiang haixin side to "barbarians."

however, tang yonglu's view was opposed by zhejiang haixin. on the afternoon of august 29, zhejiang haixin told reporters that it was normal for the company's executives to be replaced due to poor operating performance, and vetoing the resolution was also a normal decision made after considering the company's risks.

the reporter checked public information and found that the game between the two sides can be traced back to the beginning of this year.

on january 29 this year, gengxing shares announced that 79.9296 million shares held by the controlling shareholder zhonggeng group will face judicial disposal and auction, accounting for 34.71% of the company's total share capital. this move may lead to a change in the company's actual controller and controlling shareholder, or it may make the company have no actual controller.

the judicial auction attracted two parties to participate, namely zhejiang haixin and fujian ruishan technology co., ltd. (hereinafter referred to as fujian ruishan). tianyancha information shows that fujian ruishan was established in september 2023 and its actual controller is jiang weiwei. at the same time, wuhan minsheng new technology co., ltd. (hereinafter referred to as wuhan minsheng), a joint venture company of gengxing co., ltd., also had a director named jiang weiwei, who also held a 10% stake in ningbo minxin venture capital partnership (limited partnership), the major shareholder of wuhan minsheng.

in the second half of 2023, investors repeatedly asked cixing shares, another listed company that holds a stake in wuhan minsheng, on interactive platforms whether wuhan minsheng was a supplier of huawei. the share price of gengxing shares also rose sharply in the short term due to rumors of wuhan minsheng's backdoor listing.

public information shows that liang saiying, the major shareholder of ningbo minxin, has a close relationship with liang yanfeng. tianyancha information shows that liang saiying is still the legal representative of jiangsu zhonggeng real estate development group co., ltd.

at that time, after two rounds of competition, according to the announcement of the shanghai financial court, zhejiang haixin won 55.5 million shares at 7.09 yuan per share, with a total price of 393.495 million yuan. fujian ruishan won 11.1624 million shares at 6.89 yuan per share, with a total price of about 76.909 million yuan.

on the afternoon of august 29, the reporter asked tang yonglu whether fujian ruishan was the intended buyer of the company's original controlling shareholder and whether zhejiang haixin "intercepted" the deal. tang yonglu responded, "yes, a barbarian."

reporter|yellow sea

edit|he xiaotao yang xia gai yuanyuan

proofreading|cheng peng

｜daily economic news nbdnews original article｜

reproduction, excerpting, copying and mirroring are prohibited without permission

daily economic news