According to media reports, on the afternoon of April 18, Wang Jianyu, founder and former chairman of CLP motor, climbed over the wall and took photos in the factory area of Yixing Huayong Motor Co., Ltd. (hereinafter referred to as Huayong motor), which was reported to the police after being found by the security guard and taken away by the local police for investigation.
According to the announcement of CLP motor, Wang Jianyu, the current director and general manager of the company, has not been taken personal coercive measures, nor received the notice of case investigation from relevant departments, and can perform his duties normally without being affected.
We apologize for the adverse effects of the incident, Wang said.
Why did Wang Jianyu turn over the wall? Radar finance called many employees of CLP motor, who were reluctant to talk more.
Picture source of main products of CLP motor: screenshot of the companys official website
Radar finance found that Wang Jianyus entrepreneurial process was greatly influenced by his father Wang Panrong. Wang Panrong brought Wang Jianyu into the electrical machinery industry. At present, the company is still focusing on motor related products.
It is worth mentioning that Wang Jianyu and his family are the biggest winners in the restructuring of Wuxi Huashen thermal fluid equipment plant (hereinafter referred to as Huashen thermal) of the village enterprise. During the development process, there are a lot of related transactions between CLP and Huashen thermal.
Wang Jianyus family becomes the biggest winner of village enterprise restructuring
Wang Jianyu was born in 1973 and graduated from Southwest Jiaotong University with a college degree in bridge engineering. In the process of entrepreneurship, Wang Panrong, his father, helped him a lot.
On April 10, 1992, Huashen Thermal Engineering Co., Ltd., whose legal representative is Wang Panrong, was officially established. When it was established, the nature of the enterprise was a village owned collective enterprise, the source of funds was allocated by the village committee, and the business scope was DC motor backpack air-water cooler.
In 1998, Huashen thermal power changed from collective ownership to joint-stock system. Huashen thermal power raised 2.88 million yuan of capital stock in the form of registered equity certificate, including 500000 yuan of village collective shares, accounting for 17.40% of the total capital stock, and 2380000 yuan of employee personal shares, accounting for 82.60% of the total capital stock.
Radar financial analysis found that this restructuring, Wang Panrong family became the biggest winner.
Among them, Wang Panrong contributed 300000 yuan, accounting for 10.42%; Xu Meiqin, Wang Panrongs wife, contributed 200000 yuan, accounting for 6.94%; Wang Jiankai, Wang Panrongs eldest son, contributed 200000 yuan, accounting for 6.94%; Huang JinFang, Wang Jiankais wife, contributed 200000 yuan, accounting for 6.94%; Wang Jianyu, Wang Panrongs second son, contributed 200000 yuan, accounting for 6.94%; Ding Xianping, Wang Jianyus wife, contributed 2 The shareholding ratio is 6.94%.
According to this calculation, Wang Panrongs family invested 1.3 million yuan in total and held 45.14% shares in total. This year, Wang Jianyu was 25 years old.
In 2002, Ding Xianping, Huang JinFang and others transferred their equity to Wang Jiankai and Wang Jianyu, and agreed that Wang Panrong, Xu Meiqin, Wang Jiankai and Wang Jianyu respectively increased their capital in cash, increasing their registered capital to RMB 8.88 million.
So far, Wang Jianyu and his brother Wang Jiankai are the largest shareholders of Huashen Thermal Engineering Co., Ltd., with a shareholding ratio of 39.41%, Wang Panrong and his wife Xu Meiqin holding 7.77%, Wang Panrongs family holding 94.36% of the total shares, and Jiangdong village committee in Huazhuang town holding 5.64%.
The next year after the equity transfer, namely 2003, Wuxi motor, the predecessor of CLP motor, was established with a registered capital of 31.68 million yuan. The legal representative is Wang Jianyu, who is mainly engaged in the manufacturing and processing of AC and DC motors, transformers and electrical control systems, which is closely related to the business of Huashen thermal.
According to the prospectus of CLP motor, Huashen thermal used to be the main supplier of coolers and other accessories of state-owned large and medium-sized motor manufacturers. With the expansion of CLP motor business, the above-mentioned large and medium-sized motor manufacturers have business competition with CLP motor, which gradually reduces the purchase from Huashen thermal power. With the rapid expansion of the business volume of CLP motor, the related transactions between Huashen thermal and CLP motor become more and more frequent.
According to CLP, the company and Huashen Thermal Power Co., Ltd. purchased according to the market price in the report period, and the purchase price from Huashen Thermal Power Co., Ltd. and other suppliers is basically the same, which can ensure that the related transactions between CLP and Huashen Thermal Power Co., Ltd. do not affect the profitability of CLP.
Before the listing of CLP motor, 96% of the shares were held by the family
When CLP motor was founded, Wang Jianyu and his brother Wang Jiankai each contributed 12.672 million yuan, accounting for 40% of the capital contribution, while his father Wang Panrong contributed 6.336 million yuan, accounting for 20% of the capital contribution.
The aforementioned equity structure continued into 2011. On July 8 of that year, the interim shareholders meeting of CLP motor made a resolution to agree that Wang Jiankai would transfer 4% of the shares of CLP motor held by him (the amount of contribution is 1.2672 million yuan) to Zhou Yue, with the transfer price of 9.47 yuan per share and the total transfer price of 12 million yuan.
Zhou Yue is the core talent of CLP motor. He has successively served as the DC room engineer, DC room director, deputy general manager of science and technology center, chief engineer of technology development department and deputy chief engineer of Shanghai Electric Motor Co., Ltd. of Shanghai Electric Group. Since 2007, he has served as the Executive deputy general manager and chief engineer of the company, with years of motor product development Design, production and manufacturing experience and electrical enterprise management experience.
For the reason of equity transfer, CLP explained that Zhou Yue has made outstanding contributions to the expansion of the companys motor product type, technical innovation, management concept improvement, etc. after joining the company, and in the foreseeable future, Zhou Yue will continue to be one of the most important members of the core management team to promote the companys future development. In view of the consideration of strengthening the governance structure of the companys shareholders and stabilizing the core management talents, and considering that Zhou Yue himself agrees with the companys development concept, recognizes the companys value and has the desire to participate in the company, Wang Jiankai, one of the actual controllers, transfers 4% of the equity to Zhou Yue.
Radar finance and economics noted that this was the only equity transfer before the listing of CLP.
On April 17, 2014, CLP motor issued the prospectus. The top three shareholders of the company are Wang Jianyu, Wang Jiankai and Wang Panrong, with shareholding ratio of 40%, 36% and 20% respectively. The total shareholding ratio is 96%.
The companys performance after listing is far worse than that before listing, and the shareholders families reduce their holdings
On November 4, 2014, CLP motor landed in the capital market, with an issue price of 14.88 yuan / share and a raised capital of 267 million yuan. It is planned to be used in three projects related to motor production, with a construction period of 2 years and a production period of 4 years. After the completion of the project, the company expects to increase its main business income by 590 million yuan and net profit by 92.28 million yuan every year.
However, by the end of 2017, only 31.28 million yuan had been spent on the three projects, with the project progress of 2.74%, 9.7% and 18.86% respectively.
In addition to slow project construction, the companys performance is not optimistic.
According to the data, from 2011 to 2013, the net profit of CLP motor was 51.681 million yuan, 52.7884 million yuan and 59.8432 million yuan respectively.
In the year when the company was listed, that is, in 2014, the net profit of CLP dropped to 54.3401 million yuan, further dropped to 42.7705 million yuan in 2015, and plummeted to 23.8908 million yuan in 2016, a drop of 44.14%. Since then, the companys net profit began to pick up, reaching 48.2291 million yuan in 2018, still not returning to the pre IPO level.
At the same time, the Wang Jianyu family began to reduce their holdings.
Among them, on November 8 and December 4, 2018, Wang Jianyu, Wang Jiankai and Wang Panrong signed the share transfer agreement with Ningbo juntuo Enterprise Management Co., Ltd. After the share transfer, Ningbo juntuo directly holds 50498000 shares (accounting for 21.47% of the companys total share capital), and the controlling shareholder of Ningbo juntuo is Minmetals Yuanding.
In January 2019, after the completion of equity transfer, the actual controller of the company changed, and Wang Jianyu also submitted resignation report to the listed company. From 2019 to now, Wang Jianyu is the general manager of CLP motor.
From August 19, 2019 to February 15, 2020, Wang Jiankai, Wang Jianyus brother, reduced his total holdings by 4233600 shares, with a total amount of 40.8134 million yuan. On February 19, CLP Motor announced that Wang Jiankai planned to continue to reduce his holding by no more than 10.8486 million shares.
As of the third quarter of 2019, Wang Jianyu holds 52.9 million shares of CLP motor, accounting for 22.5%.
Wuxi local authorities involved in the investigation
According to media reports, Wang Jianyu entered Huayong electric machinery plant on the afternoon of April 18, and was seen sneaking around by the workshop director, then controlled by the security guard. After checking and monitoring, Wang Jianyu was found to have turned over the wall to enter the plant.
Wang Jianyus mobile phone was found with many pictures of the equipment in Huayong electric machinery factory. When deleting the photos, Huayong motor staff found that some parts of Wang Jianyus mobile phone were similar to those of Huayong mechanical and electrical equipment, and finally concluded that Wang Jianyu was stealing secrets for his peers.
According to Tianyan, Huayongs patented technology is not comparable to that of CLP. The company has 53 patent technologies such as a kind of motor shell for underwater environment, and China electric motor has 409 patent technologies such as an embedded permanent magnet motor rotor pressure ring.
Radar finance and economics noted that Wang Jianyu was not an unknown person in Wuxi. He was honored as one of the top ten industry leaders in Wuxi in 2010.
Why does Wang Jianyu turn over the wall? CLP motor did not directly explain in the announcement released on the evening of April 19.
In the announcement, CLP Motor said it was concerned about media reports that the companys director and general manager Wang Jianyu was allowed to enter the Huayong motor factory for shooting and was taken away by the police and other contents. Wang Jianyu is now the director and general manager of the company. At present, he has not been forced to take personal measures, nor received the notice of filing and investigation from relevant departments. He can perform his duties normally without being affected.
CLP Motor said that at present, the relevant situation is under further investigation, and the matters covered by the media report have nothing to do with the listed company, the companys daily production and operation are normal, all daily work and business are carried out in an orderly manner, and are not affected.
Radar finance called many employees of CLP motor, who were very cautious and would not say more.
According to the international financial news, Huayong Electric said that the relevant local departments have been involved in this matter and will find out the context. The company should give a notice about going out these two days.
It is worth mentioning that after Wang Jianyus over the wall incident, the shares of CLP motor did not fall sharply on April 20, but opened at the price of up and down, and finally closed at 9.62 yuan, up 6.42%.
Extended reading of CETC motor into the first share of the wall, the value of the party increased by nearly 40 million touched A shares! The general manager was caught in the wall shooting and the price soared 30 million yuan. The general manager of CLP motor secretly photographed lawyer explained the legal issues involved. Source: radar Financial Editor: Yang bin_nf4368