Yang Wensun: Group Reorganization Helps To Break The Bottleneck Of The System

In response to a clampdown of Internet rumors and a plummeting share price, Yang Wensun, chairman of the company, said in an exclusive interview with our reporter recently that the transfer of shares of the group is proceeding with the approval process, and the management of the company has been actively promoting the cooperation. There is no rumor about the supporting behavior. The company is operating normally, and the main economic indicators in the first half of the year have maintained a growth trend.

Yang Wensun also stressed that the transfer of group equity is conducive to the solution of the institutional problems of long term bondage and the improvement of corporate governance structure.

Yang Wensun told reporters that the Construction Bank's holding of Meyer group company is a legacy of debt to equity swap. For a long time, due to the banking regulations, the construction bank can not directly participate in the business activities of the enterprise, and the company's decision-making mechanism and responsibility system is actually not perfect.

Because the authorization is not clear, the management of the company often fails to make decisions. investment projects It can only be brewed for a long time, or even put on the shelf. This has become an important bottleneck restricting the development of the company.

Yang Wensun introduced that in order to standardize the corporate governance structure of the group company, and in order to reflect the proceeds through exit, the Construction Bank agreed to publicly share the 79.94% equity interest of the group. In June last year, the Construction Bank hired a certified public accountant firm to do a due diligence investigation of the group company, and then arranged a public listing transfer. The transfer of property rights strictly adheres to the relevant regulations of the Ministry of Finance on the management of state owned assets transfer of financial enterprises.

Yang Wensun explained that the SASAC was the two shareholder of the group company. stock right The transfer process played an important role. As a local super large enterprise, the development of group companies is directly related to the employment stability of more than 10 thousand employees. The government has convened an office meeting for this purpose, and set up a working group led by the relevant municipal leaders to coordinate and promote the compliance of this matter according to law. Yang Wensun said that the management of the company plays a role of promotion rather than a decision-making role, and it is even more impossible for Internet rumors to act as a supporting agent.

According to reports, the current intention to collect the transferee includes drow holdings, Chinese technology and Wool spinning Three companies. According to the transfer procedures, the relevant accounting firms have conducted a due diligence investigation of the intentional transferee enterprises, and the SASAC also organized experts to conduct qualification examination on the aspects of investment and financing schemes, financial due diligence, democratic evaluation, industrial relevancy, brand awareness, management ability and business credit, etc. At present, the SASAC has submitted the qualification examination and evaluation opinions to the branch of the Construction Bank, which is implementing the approval process.

In response to rumors that the relevant local authorities intervened in the transfer of shares, Yang Wensun said he believed that the Construction Bank and local governments would follow the principle of marketization and be open, fair and legally compliant. In view of the direct decline of stock prices, Yang Wensun said that the company has repeatedly clarified that there is no rumor in the listed company's asset restructuring behavior, but with the new controlling shareholder's entry, the corporate governance structure is further improved, and is bound to enter a new stage of development.