Blue Whale News, September 9 (Reporter Xu Xiaochun) On the evening of September 6, the 87 billion market capitalization “King of African Mobile Phones” Communication Holdings announced that Xiao Yonghui, head of finance, was suspended, causing a stir in the market for a while. Last year, Xiao Yonghui received a salary of about 3.86 million yuan from Communication Holdings. At the same time, Xiao Yonghui was also granted 0.08 million additional restricted shares. The grant price was only one-third of the company's year-end stock price.

The busy mid-term reporting season has just passed, yet the million-year-old financiers of listed companies are making frequent moves. According to incomplete statistics from the Blue Whale News reporter, since September, at least 12 listed companies have announced personnel changes in relevant finance officers in just 9 days. On the day that Communication Holdings announced that Xiao Yonghui was in custody, there were changes in financial leaders of at least 4 listed companies.

The general treasury of Voice Holdings with a market capitalization of 87 billion was suspended

On the evening of September 6, Communication Holdings issued an announcement stating that Xiao Yonghui, the company's financial director, was placed on hold and investigated by the Dandong Zhen'an District Supervisory Committee. According to information, Xiao Yonghui was born in 1969. He is 55 years old and has a college degree. Since January 2014, Xiao Yonghui has been in charge of finance at Communication Holdings for a full ten years.

In 2023, Xiao Yonghui received a salary of 3.8556 million yuan at Communication Holdings. Of the 25 executives who received a salary last year, only 5 executives received higher salary than Xiao Yonghui. Furthermore, in early 2023, Xiao Yonghui held 0.2 million restricted shares. Last year, Chuanyin Holdings implemented a restricted stock incentive plan. In the current period, Xiao Yonghui was granted 0.08 million restricted shares at a price of 48.2 yuan/share. On the last trading day of December 29, 2023, Voice Holdings closed at 138.4 yuan/share.

On August 28, Communication Holdings held an online performance briefing. On the same day, Xiao Yonghui also attended as the company's financial director. Communication Holdings stated in an announcement on the evening of September 6 that the company is not aware of the progress and conclusion of the investigation, that other directors, supervisors and senior management are still performing their duties normally, and that the matter of the financial director being retained will not have a significant impact on the normal operation of the company.

On September 9, Communication Holdings fell when it opened. At one point, the company's stock price fell by more than 8% during the intraday period. At noon on September 9, Zhang Qi, director and deputy general manager of Communication Holdings, Yang Hong, director and deputy general manager, and Zeng Chun, secretary of the board of directors, jointly increased their holdings. The total amount of the three increased their holdings was about 6.5402 million yuan. According to the executive holdings increase plan announced by Communication Holdings in July, the three executives mentioned above plus the financial director Xiao Yonghui will increase their holdings by a total of no less than 10.8 million yuan and no more than 14 million yuan within 6 months.

By the end of the afternoon session, the stock price of Communication Holdings was 77.05 yuan/share. The final decline was 4.99%. The company's market value was about 87 billion yuan.

Communication Holdings is mainly engaged in the design, R&D, production, sales and brand operation of smart terminals centered on mobile phones. The company's main products are TECNO, itel and Infinix mobile phones of the three major brands, including functional devices and smart phones. The sales area is concentrated in emerging markets around the world, such as Africa, South Asia, Southeast Asia, the Middle East and Latin America. In September 2019, Communication Holdings was listed on the Science and Technology Innovation Board.

In the first half of this year, Voice Holdings ranked second among mobile phone brand manufacturers in the world, while Voice Holdings, known as the “King of African Mobile Phones,” still ranked first in smart phone markets in Africa, South Asia, Pakistan, and Bangladesh in the first half of the year.

In the first half of this year, Communication Holdings achieved overall operating income of about 34.558 billion yuan, a year-on-year increase of 38.07%, and realized net profit to mother of about 2.852 billion yuan, an increase of 35.71% over the previous year. However, in the first half of the year, there was a net cash flow outflow of 1.392 billion yuan from Chuanyin Holdings' operating activities. The company explained that this was mainly due to a certain period of time misalignment between sales and purchase payments. In the first half of the year, the company's purchases were large, and payments increased a lot over the same period last year.

The treasurers of 12 listed companies have resigned in 9 days

The 2024 interim reporting season came to an end in August. After entering September, several financial directors of listed companies submitted their resignations collectively. Some of these companies did not have suitable candidates to replace them; only temporarily, the general manager, chairman, etc. were also responsible for finance-related work. According to incomplete statistics from the Blue Whale News reporter, as of September 9, at least 12 listed companies had changed positions of financial directors and other relevant personnel.

On September 2, *ST Youshu first issued an announcement stating that due to personal reasons, Zhang Xiufang, the company's financial director, applied to resign from the relevant position. After resigning, Zhang Xiufang will no longer hold any position in the company or its subsidiaries. With cross-border e-commerce as its core business, *ST Youshu's revenue fell slightly by 3.04% in the first half of the year, and net profit loss to mother narrowed to 47.59 million yuan during the same period. Last year, Tianjian & Co., Ltd. issued an unqualified audit report with significant uncertainties relating to continuing operations issued by *ST Youshu. In February 2024, creditors applied for the restructuring and pre-restructuring of *ST Youshu because the company was unable to pay off its maturing debts, was seriously insolvent, and clearly lacked solvency. Currently, the pre-reorganization of *ST trees is still in progress.

On the evening of the same day, Li Yuan, head of internal audit at Yixintang, also submitted a written resignation report for personal reasons.

On September 3, Rifa Precision announced that due to Miao Jia's personal reasons, the company's board of directors agreed to dismiss Miao Jia as financial director. Last year, Miao Jia received a salary of 1.5394 million yuan at Rifa Precision Machinery. At the same time, the board of directors of Rifa Precision Machinery appointed Zhuang Aihua as the new financial director. Judging from his resume, Zhuang Aihua was the manager of the planning finance department of Rifa Group, the controlling shareholder of the listed company, as well as the supervisor and investment manager of Wudu Investment, another wholly-owned subsidiary of Rifa Group.

On September 5, Foton Motor adjusted its financial director, and the company's financial director was transferred from Song Shushan to Li Qinghua. According to information, Song Shushan, the former financial director of Foton Motor Company, joined Foton Motor Company after graduating from accounting in 2003. He has held positions such as Vice President of Finance of Foton Motor's Overseas Division and Director of the Financial Planning Department at the headquarters. Last year, Song Shushan, who is also the deputy general manager of Foton Motor Company, employee representative director, and financial director, paid about 2.0468 million yuan. On the same day, Qinghai Huading's president and financial director Niu Yueqian also submitted a resignation report due to internal work adjustments. The next day, Qinghai Huading appointed Wu Jiahao, head of the company's internal control and internal audit, as the company's new financial director.

On September 6 alone, personnel changes were made in the relevant personnel of at least four listed companies.

On September 6, Tong Xiaogang, who also holds the three positions of Deputy General Manager, Secretary of the Board of Directors, and Financial Director of Tianlu Technology, resigned due to personal reasons. After resigning from the above position, Tong Xiaogang continued to hold other positions in the company. Currently, Tong Xiaogang directly holds 2.49% of Tianlu Technology's shares. Last year, Tong Xiaogang, who had three jobs, paid about 0.7328 million yuan. Subsequently, Xiao Mingdong was nominated by the general manager and replaced as the new financial director of Tianlu Technology. Xiao Mingdong is also the deputy general manager and director secretary of Tianlu Technology.

On the same day, Jin Jian Rice Industry announced that it had received a resignation report from financial director Li Jun. On September 6, Jin Jian Rice Industry appointed Huang Simiao as the new financial director. Huang Simiao served as the financial director of CITIC Real Estate Hunan Company (and director of the Discipline Inspection and Inspection Office), the deputy director of post-investment management of Ping An Real Estate South China (China) region, and Huang Simiao was also the financial director of Ping An Real Estate Changsha Company from 2019 to 2021.

On September 6, Du Liyan, director, deputy general manager, financial director and member of the Board's Remuneration and Assessment Committee of Jinfu Technology, resigned from all positions in the listed company. Due to the job change, Minmetals Capital Chairman Zhu Kebing, General Manager Zhao Ligong, and Financial Director Chen Hui also left their posts at the same time on September 6. On this day, Communication Holdings announced that it had received a “Notice of Detention” and “Notice of Case Filing” issued by the Dandong Zhen'an District Supervisory Committee, and that Xiao Yonghui, the company's financial director, had been placed in lien and investigated.

After a short weekend, the wave of resignations from treasurers of listed companies continued. On the evening of September 8, Heilan House announced that Qian Yaping had resigned as the company's director, deputy general manager (vice president), financial director, and member of the board's remuneration and assessment committee. After resigning, Qian Yaping no longer held any position in the company. Last year, Qian Yaping received more than one million yuan in salary from Hailan Family. Prior to the appointment of a new financial director, Zhou Lichen, the chairman and general manager (president), acted as the company's financial director for the time being.

After the market on September 9, Li Minghui, financial director of Zhidongli, resigned as the company's financial director due to personal reasons. After his resignation, he will no longer hold any position in the company. Until the company's board of directors officially appoints a new financial director, the company's chairman Wu Jiawei will temporarily act as financial director.