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on the evening of september 30, shanshan shares (600884) and yongshan lithium industry (603399) both under the "shanshan group" disclosed an administrative fine.

in addition, securities times e company reporters also noticed that recently, the equity interests of many companies under shanshan group have been frozen by the judiciary.

the frozen amount of new shareholders is nearly 3.574 billion yuan

tianyancha shows that from september 27th to 29th, shanshan group co., ltd. added 5 pieces of equity freeze information, with a total frozen equity amount of more than 3.574 billion yuan.

the person subject to execution is shanshan group, and the companies whose equity is executed are shanghai shanqu industrial co., ltd., shanghai shanrong industrial co., ltd., zhongjing sihai industrial co., ltd., shanshan co., ltd., and ningbo shanshan asset management co., ltd., and the freezing periods are all the period is 3 years, and the enforcement court is the intermediate people's court of meishan city, sichuan province.

the founder of shanshan group is zhejiang businessman zheng yonggang, who was founded in ningbo, zhejiang in 1989. its subsidiary shanshan co., ltd. was once the number one clothing stock, and zheng yonggang was once called the "clothing king."

according to the official website of shanshan enterprise, over the past 30 years, shanshan has steadily developed from a single clothing business to a world-leading high-tech group integrating new energy technology, polarizer and other industries. shanshan has been included in the top 500 chinese companies for 20 consecutive years since 2002, ranking 373rd in 2021 with sales of 53.1 billion yuan. according to the 2022 list of china's top 500 richest people, zheng yonggang ranks 144th with a net worth of 30.58 billion yuan.

in february 2023, zheng yonggang died suddenly of a heart attack. the board of directors of shanshan co., ltd. elected zheng yonggang's eldest son zheng ju as the chairman of the company's tenth board of directors. however, during the succession period, a succession war broke out between zheng yonggang's wife zhou ting and zheng ju (born by zheng yonggang and his ex-wife zhou jiqing). in the end, the two parties reconciled and zheng ju gained actual control of the shanshan family.

after more than a year in charge, zheng ju's life may not have been easy, as shanshan's companies were frequently frozen by the judiciary.

on july 22 this year, shanshan co., ltd. disclosed that part of the controlling shareholder’s equity had been judicially frozen/marked, and was waiting to be frozen.

the announcement at the time showed that shanshan group’s cumulative number of shares that have been judicially marked recently is 147 million, accounting for 18.79% of the total number of shares held by the company and 6.52% of the total share capital of the listed company; shanshan holdings co., ltd. has been frozen by the judiciary. the number of shares marked / is 72.2122 million, accounting for 100% of the total number of shares it holds in listed companies, accounting for 3.20% of the total share capital of listed companies; the cumulative number of shares that have been waiting to be frozen is 9.1543 million shares, accounting for 100% of the total shares it holds in listed companies. 12.68% of the total number of shares, accounting for 0.41% of the total share capital of listed companies.

according to the announcement at the time, the frozen applicants involved the shanghai financial court, the shanghai pudong new area people's court, the lishui district people's court of nanjing, jiangsu province, etc. the total amount of claims and execution costs involved in the case was 866 million yuan.

in addition, yongshan lithium, another company owned by shanshan, also disclosed on september 20 that some of the shares of the holding company had been frozen by the judiciary.

the announcement shows that due to overdue debt defaults, 102 million shares of yongshan lithium held by the controlling shareholder ningbo jutai investment management co., ltd. have been judicially frozen, accounting for 58.67% of its shares in the listed company. the applicant for freezing is china citic financial assets. management co., ltd. zhejiang branch, the freezing period is from september 18, 2024 to september 17, 2027.

the above-mentioned judicial freezing of the shares held by jutai investment includes 76 million shares without sales restrictions, corresponding to a debt amount of 266 million yuan, and 26 million shares without sales restrictions, with a corresponding debt amount of 94 million yuan.

receive an administrative fine

on the evening of september 30, shanshan co., ltd. and yongshan lithium industry both disclosed that the indirect controlling shareholder shanshan holdings co., ltd. had received the "administrative penalty prior notice".

the notification shows that the liaoning securities regulatory bureau has completed the investigation of shanshan holdings co., ltd.'s suspected case of the acquirer failing to perform its obligations as required (when it continues to acquire more than 30% of the shares, it failed to perform its obligations under the tender offer), and plans will be made to prosecute the company in accordance with the law. impose administrative penalties.

it is reported that on july 17, 2020, shanshan holdings signed a share transfer agreement through shanghai gangshi equity investment co., ltd. to acquire 53.5164 million shares of jixiang shares held by shaanxi guotou·chiying no. 35 securities investment collective fund trust plan. accounting for 9.84% of jixiang’s total share capital. on july 30, 2020, the above-mentioned acquisition completed the relevant share transfer registration.

it is worth mentioning that before the above-mentioned acquisition, as of july 17, 2020, shanshan holdings held 170 million issued voting shares of jixiang shares through ningbo jutai, accounting for 34.22% of the total share capital of jixiang shares. .

however, regarding the above-mentioned equity acquisition, shanshan holdings failed to issue an acquisition offer to shareholders of yongshan lithium (formerly known as "jixiang shares") in accordance with relevant regulations.

the liaoning securities regulatory bureau plans to decide to order shanshan holdings to make corrections, give a warning, and impose a fine of 5 million yuan. at the same time, since the person in charge directly responsible, zheng yonggang, passed away in february 2023, his administrative responsibility will no longer be held.

while receiving the fine, yongshan lithium also disclosed an announcement on the rectification of indirect controlling shareholders.

the announcement shows that shanshan holdings has been deeply aware of the relevant mistakes and is willing to accept the punishment. it will actively cooperate in rectification according to the "administrative penalty decision" subsequently issued by the liaoning securities regulatory bureau. shanghai steel stone equity investment co., ltd. plans to transfer the 53.5164 million shares of yongshan lithium industry held by shanghai steel stone to an unaffiliated third party by means of agreement transfer, correcting the previous errors. the transfer price will be the market price. if the transfer amount exceeds shanghai steel stone the excess proceeds from the acquisition of the above stocks will be handed over to yongshan lithium to support the development and operation of yongshan lithium. before completing the rectification, shanghai steel stone gave up the voting rights corresponding to the yongshan lithium shares it held.