① Due to untimely disclosure of shareholders' shares being frozen by the courts, etc., Zhengwei New Materials and Chairman Wang Wenyin were issued a warning letter, and the listed company was investigated by the Securities Regulatory Commission; ② Shenzhen Yiwei's 3.87% shares of Zhengwei New Materials were contested by Yinque New Materials judicial auctions today. For example, Yinque Xincai had no relationship with more than 5% of the company's shareholders. Jiuding Group, the former second-largest shareholder of the company, will passively become the company's largest shareholder.
Financial Services Association, May 24 (Reporter Fang Yanbo) The dispute over control of the company is still unclear. This evening, Zhengwei New Materials (002201.SZ) and its actual controller Wang Wenyin also received a regulatory decision due to failure to promptly disclose the stock freeze and the progress of the company's sales. At the same time, the listed company was also investigated by the Securities Regulatory Commission for suspected illegal disclosure of information. In the secondary market, Zhengwei New Materials bucked the trend today.
According to the announcement, from November 24 to November 27, 2023, the Fuzhou Intermediate People's Court and the Chengdu Intermediate People's Court judicially re-frozen and pending freezing of Zhengwei New Materials shares held by Shenzhen Yiwei New Materials Co., Ltd. (hereinafter referred to as “Shenzhen Yiwei”), the controlling shareholder of Zhengwei New Materials, and its co-operator, Xi'an Zhengwei New Materials Co., Ltd. (“Xi'an Zhengwei”). Wang Wenyin, chairman and secretary of the company, learned about the matter on December 19, 2023, but the company did not disclose it until January 12, 2024.
Furthermore, on December 28, 2023, the Fuzhou Intermediate People's Court issued an “Online Auction Notice” to conduct a public auction of 20,996100 shares of Zhengwei New Materials held by Shenzhen Yiwei (accounting for 3.22% of the company's total share capital). This matter is a development that occurred after previous shares were frozen and may have a significant impact on the stock prices of listed companies. The company should promptly disclose this progress. However, Wang Wenyin, chairman and director of the company, learned about the proposed share auction on January 4, 2024, but the company did not disclose it until January 12, 2024.
The supervisory authorities believe that Zhengwei New Materials did not promptly disclose that the shares of the controlling shareholders and co-actors were frozen, and that Wang Wenyin, chairman and director of the company, failed to perform his duties diligently, in violation of the relevant provisions of the “Administrative Measures on Information Disclosure of Listed Companies”. Listed companies and Wang Wenyin, which are mainly responsible for the untimely disclosure of these important matters and subsequent developments, have taken supervisory measures to issue warning letters, and recorded them in the securities and futures market integrity file. On the same day, the Securities Regulatory Commission opened an investigation against the company due to Zhengwei New Materials's suspected illegal acts of information disclosure.
In fact, in addition to facing the above regulatory penalties, Wang Wenyin and Zhengwei New Materials also face the risk of losing control of the company.
According to the company's latest announcement, the 25210,100 unrestricted shares of Zhengwei New Materials (accounting for 3.87% of the company's total share capital) held by Shenzhen Yiwei, which were actually controlled by Wang Wenyin auctioned by the Fuzhou Intermediate Court, were contested for RMB 261 million by Shenzhen Yinque New Materials Co., Ltd. (“Yinque New Materials”) on the morning of the 24th. If this auction is finally completed, and Yinque New Materials has no relationship with more than 5% of the company's shareholders, then Jiuding Group, the former second-largest shareholder of the Company, will passively become the company's largest shareholder.
Furthermore, according to the Tianyancha App, Wang Wenyin currently has more than 50 risks such as stock freezes and lawsuits. Many of his companies as legal representatives or executives have applied for forced liquidation, executee information, and restrictions on high consumption.
In response, Zhengwei New Materials said that the controlling shareholders and the company formed an effective risk isolation mechanism from the beginning, and the actual problems faced by the controlling shareholders did not have a significant impact on the company.