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On August 19th, Caixin Financial News (Reporter Wang Bin) reported that Shanghai Laimu Electronics (603633.SH) announced that the company recently received a notice of investigation and detention regarding the chairman and general manager Zhu Xinai from the Supervision Commission of Hongkou District, Shanghai.

A person familiar with the matter at Shanghai Laimu Electronics told Caixin Financial News that the company has just received a notice that the chairman has been investigated and detained, and the specific reasons are still unclear. The company will continue to monitor the progress of this matter and disclose information in a timely manner in accordance with relevant laws and regulations.

According to the announcement, the company has made appropriate arrangements for related work. With the unanimous recommendation of all directors of the company, during Zhu Xinai's period of detention, Fang Peixi, the vice general manager of the company, will act as the chairman and general manager. As of the date of the announcement, there has been no change in the control of the company, the operation of the board of directors is normal, and the financial and operational management of the company is normal. These matters will not have a significant impact on the normal production and operation of the company.

According to the announcement, as of August 7th, Zhu Xinai holds approximately 39.4625 million shares of Shanghai Laimu Electronics, accounting for 9.25% of the total share capital and making him the second largest shareholder of the company. Fang Peixi holds approximately 4.5806 million shares, accounting for 1.07% of the total share capital, and has a brotherly relationship with Fang Peijiao, the largest shareholder of the company. Fang Peijiao is the actual controller of the listed company.

Public information shows that Zhu Xinai was born in 1967 and is from Changde, Hunan Province. He graduated from Shanghai Institute of Technology with a major in mechanical manufacturing process and equipment. From 1989 to 1994, he served as an assistant engineer and engineer at Chengdu Tractor Parts Factory. From 1994 to 2000, he served as an analyst and senior analyst at Heilongjiang International Trust and Investment Corporation. From 2000 to 2002, he served as the chairman of Shenzhen Gaozhishang Financial Advisory Co., Ltd. From 2003 to 2008, he served as the executive director and general manager of Shanghai Laimu Electronics Co., Ltd. Since 2008, he has served as the chairman and general manager of Shanghai Laimu Electronics.

Shanghai Laimu Electronics was established in 2003 and is mainly engaged in the research and development, production, and sales of precision electronic components, mainly connectors and shielding covers. The products can be divided into precision connectors and accessories for automobiles, components, precision shielding covers and structural parts for automobiles, precision connectors for mobile phones, and precision shielding covers and structural parts for mobile phones. The company was listed on the main board of the Shanghai Stock Exchange in November 2016.

In terms of performance, in Q1 of this year, Shanghai Laimu Electronics achieved operating income of 0.331 billion yuan, a year-on-year increase of 42.04%; the net income attributable to shareholders of the listed company was 25.1925 million yuan, a year-on-year increase of 25.2%.

It is worth mentioning that in the first quarter report of Shanghai Laimu Electronics, multiple funds and asset management products under E Fund are listed as shareholders. Among them, the E Fund Kexiang Mixed Fund entered in Q1 of 2023 and increased its holdings in Q1 of this year; the E Fund Quality Momentum Three-year Holding Fund entered in Q2 of 2023; the E Fund New Economy Flexibly Allocated Fund entered again in Q1 of this year. As of June 20th this year, E Fund's funds and asset management plans have withdrawn from the company's shareholder list.