[High-tech exclusive] Wang Donglei tears his face and changes NVC lighting to "Wu Changjiang" label

[Reporter/Wang Cairong] The organs were counted and ugly, and the "Wu Wang Love" that lasted for less than two years was finally broken.

In the evening of August, NVC Lighting (02222.HK) suddenly announced the release of the company's founder Wu Changjiang's CEO position, less than two years and three months from the last forced to leave the CEO position. The only difference is that when Wu Changjiang was dismissed from the CEO, he also took several other executives out together.

The announcement said that the company's board of directors has passed a resolution to remove Wu Changjiang's CEO, and will convene an extraordinary general meeting to propose the removal of Wu Changjiang executive director. Also dismissed were Vice President Wu Changyong (Wu Changjiang's brother), Mu Yu and Wang Minghua, and the board of directors appointed Wang Donglei as interim CEO.

NVC Lighting also said that the company was recently informed of Wu Changjiang's misconduct, Wu Changjiang recently informed the majority of the board of directors, in 2012, representing the company's subsidiary Huizhou NVC Optoelectronics Technology Co., Ltd. and Shandong NVC Lighting Development Co., Ltd. Chongqing Enwei West Industrial Co., Ltd. and Zhongshan Shengdi Aisi Lighting Co., Ltd. (collectively referred to as “three companies”) each signed a license agreement to grant three companies the rights to use NVC brand for a period of 20 years.

The announcement pointed out that the authorization occurred before the change of NVC Lighting shareholders in 2012. Most of the existing members of the board of directors were not aware of the existence of the so-called license agreement. "The board of directors has not approved, authorized or ratified the signing of any such agreement." Most members of the board of directors believe that Wu Changjiang continues to serve as executive director and chief executive officer of NVC, and Wu Changyong, Mu Yu and Wang Minghua as vice presidents will be in the best interest of the company and shareholders.

NVC Lighting said that the company is investigating the matter. At present, NVC Lighting has established an emergency handling committee set up by Wang Donglei, Xiao Yu and Wei Hongxiong. In the state of emergency affairs, on behalf of the board of directors, the internal organization is adjusted and the management personnel are appointed. Sign the business agreement and other functions.

Just after the news that Wu Changjiang was dismissed by the board of directors, a video called “Duohao Runda Chairman Wang Donglei brought people to inspect Chongqing NVC Lighting” was immediately spread on WeChat and online. In the video, there was a fierce physical conflict between the two parties. It is said that Wu Changjiang’s two assistants were beaten (video content) and have been seriously injured and admitted to the hospital. The chairman of Dehao Runda was taken away by the police.

In response to the above-mentioned emergencies, the reporter has repeatedly contacted Dehao Runda’s board secretary Deng Fei, but his mobile phone has not been answered. A senior executive of Dehao Runda kept his mouth shut after receiving the call from the reporter. "I don't know, you should stop asking me."

At the time of the reporter's deadline, Wu Changjiang announced his "confessions" for the incident through the media. He revealed that the dismissal of this position was planned by Wang Donglei, the chairman of NVC Lighting and the chairman of Dehao Runda (002005.SZ). The two parties’ conflicts were caused by Dehao Runda’s “transportation of interests”. There is a dispute in the back.

This is completely contrary to the announcement issued by the NVC Lighting Board. For the "interest transfer", the parties have their own words. But in any case, this has nothing to do with the lack of growth in the LED business of the two companies.

Wu Changjiang, who originally hoped that the "gentleman agreement" and exchanged his own interests in the shares of NVC and Dehao Runda Wang Donglei, may have been very small.


Leading the wolf into the room Wu Changjiang lost control
Wu Changjiang was kicked out of the game. It was less than a month after the "big cleansing" of the 11 affiliates of NVC Lighting in July.

At that time, Wu Changjiang and Wang Donglei continued to "follow the singer", and the outside world once interpreted it as the extension of Wu Changjiang and Dehao Runda to further unleash the large layout that Wu Changjiang expected. However, after all, the paper couldn't hold the fire. It was once a high-profile claim that Wang Donglei, who is a perfect match with Wu Changjiang, still tore his face and hit it.

In fact, after the introduction of Dehao Runda in 2012, Wu Changjiang, who seems to return to the NVC lighting board, has gradually taken over the actual control of NVC in the past year and a half.

In November 2012, the board of directors of NVC Lighting changed again after the infighting with major shareholders such as Softbank Saifu and Schneider. Wu Changjiang’s intention to return to NVC’s board of directors was met again. In desperation, Wang Donglei began to actively introduce Dehao Runda.

At the end of December 2012, Dehao Runda spent HK$1.65 billion to acquire approximately 20% of NVC Lighting's shares by absorbing Wu Changjiang's individual shares. By March 2013, DHL Runda had become the largest NVC lighting company. shareholder.

Outsiders analyzed that Wu Changjiang originally wanted to change the existing shareholding structure of NVC by actively introducing DHL Runda, and used the method of gold shelling to strengthen the actual control of NVC lighting, but ultimately it was counterproductive.

In April 2013, Wang Donglei took over as chairman of NVC Lighting, and Wu Changjiang’s desire to regain control of NVC was lost.

In the following year, Dehao Runda, the long-established lighting channel of NVC, began to use NVC Lighting's powerful sales pipeline and dealer network to strengthen its LED downstream market. Wu Changjiang often sang a sum with Wang Donglei in public to show that the cooperation between the two sides is stable.

In April 2014, Dehao Runda once again took out HK$500 million to increase its shareholding in 6.86% of NVC Lighting, and continued to be the largest shareholder of NVC with a total shareholding of 27.10%. In less than three months, Wang Donglei and Dehao Runda, Softbank Safari and Schneider executives began to take over the relevant positions of the NVC Lighting Board.

Until today, he was expelled from the board of directors, and Wu Changjiang’s wishful thinking was finally lost.

An industry veteran analyzed that Wu Changjiang was kicked out of the game and it is hard to turn over.

"Wu Changjiang is desperately trying to introduce external funds to dilute his own shares. On the other hand, he has to firmly control the company in his own hands. This is impossible." An LED business executive who asked not to be named To the reporter made an image metaphor: Wu Changjiang should know how much capital to play, if there is only 500 yuan in the hands but have to play 1000 bets, people with 10,000 chips in hand are certainly not willing to play with him. .

Suspected of "interest transfer" or for the removal of inside information
In fact, according to a person close to the NVC board of directors, the reason why Wu Changjiang was dismissed more seriously is that Wu arbitrarily seeks personal gains for his brother Wu Changyong and intends to circumvent financial supervision, suspected of encroaching, misappropriating or defrauding his brother. The company's funds provide convenience and the amount involved is huge; it is suspected of carrying out the transfer of benefits for companies directly or indirectly controlled. In addition, the board of directors accused Wu Changjiang of violating the principle of diligence and integrity of listed company executives, personally owing hundreds of millions of debts to the company's regional operators and distributors, and over-authorizing and exempting the company's senior management personnel, not implementing board resolutions, not implementing company management. Articles and regulations, etc.

According to the information, the three companies authorized by Wu Changjiang in the announcement are all Wu Changjiang's relative investment companies. Established in 2008, Shandong NVC Lighting Development Co., Ltd. was established in March 2008 with a registered capital of 10 million yuan. The investors are Zhu Shankuan, Li Guanyu, Zeng Zhanxiang, Chen Min, and the legal representative is Zeng Zhanxiang, among which Chen Min is Wu Changjiang and his mother-in-law. In 2009, Chen Min invested 4.8 million yuan to become the company's largest shareholder.

Another Chongqing Enweixi Industrial Development Co., Ltd. (hereinafter referred to as "Enweixi") has previously reported in the media about its abnormal relationship with NVC Lighting and Wu Changjiang's father-in-law.

According to industry and commerce information, Enwei West's registered capital of 30 million yuan was initiated by two natural persons. Liu Xiang invested 15.1 million yuan and held 50.33%. Wu Changjiang's father-in-law Wu Xianming invested 14.9 million yuan and held 49.67%. Liu Xiang is the general manager. ,executive director.

Since then, Enwei West has increased its capital twice, and the registered capital has increased to 50.08 million yuan. The legal representative has also changed many times. By October 2011, the legal representative was changed to Wang Shaoling, the deputy general manager of the NVC product planning research and development department. Wang Shaoling was Wu Changjiang University classmates. At present, the company's investors are Li Guanyu, Zhu Shankuan and Wu Changjiang's mother-in-law Chen Min, and legal representative Li Guanyu.

In addition, Zhongshan Sandi Aisi Lighting Co., Ltd., established in March 2008, has a registered capital of 1 million yuan and the investor is Zhao Yanchao. On April 20, 2010, NVC Lighting signed an agreement with Zhongshan Shengdi Aisi Lighting Co., Ltd. According to the agreement, NVC Lighting will license some of its registered trademarks to the company.

However, according to many sources, the Holy Land Ace is privately controlled by Wu Changjiang’s mother-in-law Chen Min and holds a 40.93% stake in the company. According to the latest industrial and commercial information, the shareholders of Shengdi Ai Division include Zhu Shankuan and Li Guanyu.

Among the above three shareholders are Zhu Shankuan and Li Guanyu. Li Guanyu is an important distributor of NVC Lighting and previously head of the Yunnan Operations Center.

However, it is illegal for Wu Changjiang to grant the use of the NVC lighting brand rights of the above three companies for 20 years without the approval of the board of directors before the change of shareholders in 2012. The lawyers of the Chinese business law firm Jiang Yanqing said that the specific circumstances will be based on the local laws of Hong Kong. Provisions.

In addition, there have been rumors in the industry that Wu Changjiang is a "guest" of various well-known casinos in Macau and around the world, winning or losing hundreds of millions of dollars, owing huge domestic and foreign debts.

A person familiar with the matter said that Wu Changjiang's large number of related transactions, hidden interests, or the source of its debt. The person said that in order to pay off debts, in addition to a large number of related transactions to transfer funds, Wu Changjiang also borrowed money from disguised dealers and operators in the form of promised interests, and the loan was as high as 300 million yuan.

"The direct bundling of interests has made some operators, dealers, and employees become Wu Changjiang's 'life and death', and 'willingness to 'repay Wu Changjiang's debts," said the source.

Obviously, although NVC has a huge dealer system that is unmatched by other lighting companies, it has missed the best opportunity for LED lighting transformation, which is not unrelated to Wu Changjiang's deep control of NVC.

Some dealers are emotionally unstable

It is worth noting that after Wu Changjiang was dismissed from the post of CEO, Gaogong LED's “LED Lighting Channel” stationed in 29 provinces and cities across the country quickly communicated with local NVC lighting agents and distributors, except for regional operations. Most of the center and general agent levels remained silent and extremely cautious. Most of the second and third-tier dealers were shocked by Wu Changjiang’s exit.

"Wu Changjiang was kicked out of the board of directors is the inevitable result of the loss of control of NVC's top management. It always comes, but it is not expected to be so fierce." A NVC dealer in Hangzhou area is a reporter for the high-tech "LED lighting channel" station. It is said that the upper level of NVC lighting does not match us, as long as NVC can supply normally.

A NVC dealer in Xiamen said frankly, "(Wu Changjiang's exit) has definitely had an impact on us. As for how it will affect, we will pay close attention to this matter in the future, but we are currently stabilizing the lower-level dealers. The mood is now the most critical, and the channel is not chaotic."

For Wu Changjiang, without the approval and authorization of the board of directors, the three companies have been granted the right to use the NVC lighting brand for 20 years, and the dealers have different attitudes.

"This thing is definitely not good, affecting our overall efficiency, reputation and influence, but the current unfavorable situation has not yet emerged. The company will certainly handle these negative effects in the follow-up." NVC Lighting in Nanchang A dealer said.

The above-mentioned distributors in Xiamen believe that this is Wu Changjiang’s means of expanding operations. “Mr. Wu definitely wants to make some achievements. It is a disadvantage for this practice. We are not good at making decisions. It can be said that any helm has his own considerations."

In addition, Dehao Runda has been actively pushing the NVCETI brand products in the dealer channel of NVC has been quite unsatisfactory, and this may be prompted by Dehao Runda to kick Take Wu Changjiang and speed up the control of NVC.

"At the moment, our brand name is still NVC. We think that both NVC and Dehao Runda have some hints, which is a great test for channel construction." A NVC in Fujian area The dealer told reporters.

A dealer in the Chengdu area admitted that the price of NVCETI products is also high, close to NVC, there is no price advantage, and the brand is not currently represented. "I also visited it at the time and found that since NVC has no price advantage, it is not necessary to get along with NVC. The cooperation between the two sides should be strong and strong, and promote each other, but the handling of bad interests will also make this The brand is in crisis."

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