The Competition Between Xinhua Department Store And Placards Capital Is Continuing.

In August 13th, the Xinhua Department Store announced that it had received proposals from the shareholders of Shanghai Bao Yin and Shanghai trillion win (all investment companies owned by Chui Jun, a private investment company) to submit a proposal to convene the provisional shareholders' meeting. The related motion was: "Shanghai Bao Yin, Shanghai trillion win" and Xinhua Department Store jointly invested "Berkshire Holdings Limited" with registered capital of 1 billion yuan, and 5 bills concerning the recall of two directors and two directors (one of them is Cui Jun).

In response to the above move, Cui Jun responded to reporters, "we are exercising shareholder rights normally."

In the face of the aggressive trend of the placards, Wumart holdings is also unwilling to be outdone.

In July 21st and August 5th, the company separately disclosed the announcement of Wumart holdings and its concerted action.

As of August 4th, Wumart holding owns 30.75% of Xinhua Department store, and Beijing logistics information holds 0.012% of Xinhua Department store, which altogether holds 30.76% of Xinhua Department store.

At the same time, including this increase, Wumart holdings and its concerted action do not rule out the company's share holdings in the next 12 months, which will not exceed 2% of the total shares issued by the company.

According to the announcement of Xinhua Department store, the relevant proposals are as follows: first, the proposal of Shanghai Bao Yin and Shanghai trillion win jointly set up a holding limited company by its company and the company. The name is tentatively designated as Berkshire Holdings Limited. The registered place is tentatively designated as Shanghai. The business scope is tentatively defined as "equity investment management, investment management, industrial investment" and so on. The registered capital will be RMB 1 billion yuan, the company will contribute 490 million yuan, and Shanghai Bao Yin and Shanghai trillion win will contribute 510 million yuan.

The holding company will mainly invest in some listed companies whose value is seriously underestimated. By raising the valuation of the invested enterprises, the assets of the holding company will be increased. The goal of the holding company is to make the assets achieve a higher compound interest growth every year, hoping to cause the Berkshire company of China to fight.

Second, Shanghai Bao Yin and Shanghai trillion win think that the Xinhua Department store business is facing a strong impact on e-commerce, and the department stores are losing money. Some directors are not competent for directorship.

In order to enhance the company's performance and achieve rapid growth and promote the company's performance to achieve a higher compound interest growth target each year, Shanghai Bao Yin and Shanghai trillion win jointly propose the removal of directors of Guo Tuwei and Qiao Hongbing and nominate Cui Jun and Wang Min as new board candidates.

In the early June,

In an interview with reporters, he once said, "in fact, I play real games every time."

This time, the choice of Xinhua Department Store is one of the reasons, because Xinhua Department Store is a private enterprise, and the probability of reaching the board of directors after the placards is higher than that of the former state-owned enterprises.

But the above moves failed to get approval from Xinhua Department store.

Xinhua Department said in a statement, the sixth board of directors since its inception, all directors diligently and conscientiously to safeguard the interests of shareholders and companies, Shanghai Bao Yin and Shanghai trillion win has never had contact with the board members of the company, has never been to the company's board of directors to understand the main business of the company.

In the absence of necessary investigation and understanding, the conclusions of Shanghai Bao Yin and Shanghai trillion win that "some directors of a company are not competent for directors" are both lack of basis and disrespect for the board of directors and directors of the company.

Xinhua Department store also hints that in June 9th, Shanghai Bao Yin was suspected of information disclosure and other illegal activities. The SFC decided to file a case investigation. At present, the CSRC has not yet made any concluding observations on its investigation, and the board of directors has reminded all shareholders to pay attention to it.

In response, Cui Jun responded to reporters that the survey had no effect on this proposal.

We have the right to propose a shareholders' meeting, and we would like to take a look at the attitude of the minority shareholders.

The company has communicated with the proposal proposed by Shanghai Bao Yin and Shanghai Mega win to convene the provisional shareholders' meeting, but has not achieved any results.

In view of the proposal put forward by Shanghai Bao Yin and Shanghai trillion win to convene the provisional shareholders' meeting, the proposal to consider the establishment of a company will constitute a company's huge related party pactions. The proposal to remove the company's normal duty director will have a major impact on corporate governance and business stability. The board of directors needs a certain time to carefully and comprehensively assess the impact of the above matters on shareholders' interests and the development of the company.

Wang Zhibin, director of Shanghai Jay Sai law firm, told reporters that it was no problem to convene the shareholders' meeting and to propose a motion. But in the voting aspect, the Cui Jun side had to avoid it when voting.

A vote can be made on the motion of two directors and two directors.

How the above events will eventually evolve and need to wait for the voting results of the shareholders' meeting.

From the shareholding situation, in July 16th, Xinhua Department Store announced that Cui Jun's treasure Shanghai and Shanghai trillion win four degrees placards Xinhua Department store, the two have jointly held 20% of Xinhua Department store, and once approached the shareholding ratio of Wuming holdings, the controlling shareholder of Xinhua Department store.