Financial Services Association, March 12 (Editor Ruo Yu) Cisco Rui, Guoguang Electric, and Chaoyue Technology announced after the market that the company's chairman had been suspended and investigated. It is worth noting that the chairman of Cisco Rui and Guoguang Electric is Zhang Ya. According to Guoguang Electric's management profile, Zhang Ya has been the executive director and general manager of Shenzhen Zhenghexing Electronics Co., Ltd. since October 2000; the chairman of Chengdu Guoguang Electric Co., Ltd. since May 2018; the executive director of Chengdu Cisco Ruiwei Electronics Co., Ltd. from August 2017 to May 2020; and the chairman of Chengdu Cisco Rui Wei Electronics Co., Ltd. since June 2020.

Cisco Rui announced in the evening that its main business is a reliability testing service for military electronic components. On March 11, the company received a notice from the family of Mr. Zhang Ya, the actual controller and chairman. Mr. Zhang Ya's family received the “Notice of Detention” and “Notice of Case Filing” issued by the Yongqing County Supervisory Commission, and Mr. Zhang Ya was placed in custody. According to public information, the direct controlling shareholder of Cisco Rui is the Jianshui County Quanjun Enterprise Management Center (limited partnership). Zhang Ya reached an indirect shareholding of 28.6% of Cisco Rui's shares by holding 49.43% of the shares in Jianshui County Quanjun Enterprise Management Center (limited partnership) and 80% of Xinyu Huanuojin Enterprise Management Co., Ltd., and is the actual controller of Cisco Rui.

According to Cisco's previous performance forecast, net profit of 2023 is expected to be 471,115 million yuan, a year-on-year decrease of 51.64%. The company said in this regard that due to multiple factors, the growth rate of the military industry has slowed down. Considering the pace of production and delivery, the upstream and downstream order demand in the industry has been adjusted in stages, leading to a decline in order volume in the current period.

Fangzheng Securities Li Lujing and others pointed out that Cisco Rui, as a leader in reliability testing for military electronic components, is expected to continue to benefit from the accelerated development of equipment informatization in China. At the same time, the investment and construction of the Wenchang Inspection and Reliability Engineering Center will help strengthen the company's leading position, and its performance is expected to be released at an accelerated pace. However, looking at the secondary market, the biggest cumulative decline in Cisco's stock price since the November 2022 high was 67.41%.

Meanwhile, Guoguang Electric, one of the main research and production bases for microwave electronic devices in China, announced in the evening that the company received a notice from the family of Zhang Ya, one of the actual controllers and chairman, on March 11. Zhang Ya's family received a “Notice of Detention” and “Notice of Case Filing” issued by the Yongqing County Supervisory Commission, and Zhang Ya was placed in detention. The company has not received any documents issued to the company by the competent authority on the aforementioned matters. Vice Chairman Wu Changnian will perform the relevant duties of the chairman of the company during the period when the chairman is unable to perform his duties. According to public information, Guoguang Electric's direct controlling shareholder is Xinyu Huanyanuojin Enterprise Management Co., Ltd. Zhang Ya achieved indirect ownership of 40.63% of Guoguang Electric's shares by holding 80% of the shares in Xinyu Huanyanuojin Enterprise Management Co., Ltd., and is one of the actual controllers of Guoguang Electric.

In terms of performance, Guoguang Electric's net profit for 2023 was 90,108 million yuan, a year-on-year decrease of 45.74%. When surveyed by the agency on March 1, Guoguang Electric said that the decline in performance was mainly due to multiple effects of industry price cuts and tax reform, but the company's overall order volume was not significantly affected. Judging from the performance of the secondary market, the biggest cumulative decline in Guoguang Electric's stock price since the September 2022 high reached 73.23%.

In addition, a comprehensive environmental protection enterprise focusing on waste treatment and resource utilization, energy saving and environmental protection technology research and development, surpassed the Technology Evening Notice. The company recently received the “Notice of Detention” and “Notice of Case Filing” issued by the County Supervisory Commission. Gao Zhijiang, the actual controller and chairman of the company, was placed in lien and investigated. Up to now, the company has not received any investigation of the company or documents cooperating with the investigation by the competent authorities, and the progress and conclusion of the withholding investigation is unknown.

According to public information, as of September 30, 2023, Gao Zhijiang held 27.4277 million shares of the company, accounting for 29.1% of the total share capital, ranking first among the top ten shareholders. Judging from the performance, Chaoyue Technology had an advance loss of 105 million yuan to 136.5 million yuan in 2023, and a loss of 21.6256 million yuan in the same period last year. In the secondary market, the biggest cumulative decline in Chaotech's stock price since this year reached 62.95%.

Notably, according to relevant media reports, Gao Zhijiang was involved in a bribery case many years ago. According to the Referee Documents Network, according to the “Criminal Judgment of Zhang Mofeng in the First Instance of Taking Bribes” (2017), defendant Zhang Mofeng used the convenience of his position during his tenure at the Anhui Provincial Environmental Protection (Bureau) Department to obtain benefits for others. Among them, between 2008 and 2016, it received a total of RMB 89,000 from Gao Zhijiang, a surplus environmental worker.