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Summary
[Ordinatodirestituire1.933miliardidiproventicriminaliilresponsabiledelcasoKangNiElectromechanicalM&Aèstatocondannatoall’ergastolo]Three years ago, Kang Ni Electromechanical (603111) unfortunately stepped on the lightning bolt in the merger and eventually got completely lost. Fortunately, in this case involving a large amount of contractual fraud, the company won the court’s first instance verdict, but the defendant expressed dissatisfaction and appealed. (Securities Times)
three years ago,Kang Ni electromechanical(603111) aBUTUnfortunately, he stomped on a thunder and eventually got lost. Fortunately, the suspected huge amountto contractIn case of fraud,the companyHe won the court’s first instance sentence, but the defendant expressed his dissatisfaction and filed an appeal.
Stove
On the evening of November 28,Kang Ni electromechanicaladHe claimed that Liao Liangmao, the original legal representative of Guangdong Longxin Technology Co., Ltd. (hereinafter “Longxin Technology”), committed contractual fraud and was sentenced to life in prison by the court, deprived of political rights for life and confiscated all personal property.At the same time, the court ordered Liao Liangmao to return 1.933 billion yuan of criminal proceeds and return the victim to NanjingKang Ni electromechanicalJoint stock company.
According to the “Criminal Sentence” issued by the Nanjing Intermediate People’s Court, the Nanjing Intermediate People’s Court found that defendant Liao Liangmao defrauded the other party’s property in the process of signing and executing the contract. The amount was extremely high and his behavior constituted the offense of contractual fraud. The facts of the contract fraud allegation by the prosecution against defendant Liao Liangmao are clear and the evidence is indeed sufficient. The prosecution is condemned and this court supports it. Liao Liangmao, male, born December 7, 1979, original legal representative of Guangdong Longxin Technology Co., Ltd. He was criminally arrested on August 28, 2018 on suspicion of contractual fraud and arrested on September 30 of the same year. He is currently being held at the Detention Center in Qixia District, Nanjing City.
This sentence is the first instance sentence. If you disagree with this ruling, you can file an appeal through the Nanjing Intermediate People’s Court or directly to the Jiangsu Higher People’s Court from the 2nd to the 10th day after receiving the ruling. As of the date of the announcement, Kang Ni Electromechanical had learned that defendant Liao Liangmao had filed an appeal.
Traceability
The reason why Kang Ni Electromechanical is involved in this lawsuit has yet to start with a case from three years ago.BUTTalking about.
Connie’s main business is the tracktrafficProduct, The business includes main line rail vehicle door system, city rail vehicle door system, platform safety door system, etc. The other business is auto parts, including three categories of charging assemblies, high voltage wiring and high voltage modules, as well as some traditional auto parts business.shareholderIt is the Nanjing Institute of Technology Asset Management Co., Ltd., which holds 8.57% of the shares.
After Kang Ni Electromechanical went public in 2014, in order to overcome the core business bottleneck, it started looking for extensional expansion and eventually joined Longxin Technology. Longxin Technology is a complete solution provider for the surface treatment of precision structural parts of consumer electronics. In 2017, Kang Ni Electromechanical successfully acquired Longxin Technology, which is in a phase of rapid development and growth. Through this merger, Kang Ni Electromechanical said the company has formed a dual business model of “rail transport + consumer electronics”.
Longxin Technology, which spent 3.4 billion yuan on the acquisition, performed well in the first year of the acquisition in 2017.Net profit, Successfully fulfilled the promisePerformance. However, the good times didn’t last long, and the marriage took a turn. In June 2018, Kang Ni Electromechanical “self exposed” the scandal and found that Liao Liangmao, president and general manager of the Longxin Technology subsidiary, was suspected of using his position to facilitate violations in the name of Longxin Technology.External warrantyAnd other things. At the same time, Liao Liangmao’s holding of 33.2 million restricted shares of Kang Ni Electromechanical was judicially frozen, representing 65.62% of the total number of shares it holds.
After Kang Ni Electromechanical reported the case to public security, on August 27, 2018 he received the Nanjing Municipal Public Security Economic Technology BureauDevelopment areaAccording to the “Case Filing Notice” issued by the branch, the public security organs formally filed and investigated Liao Liangmao’s suspected contractual fraud. The next day, Liao Liangmao was arrested on suspicion of contractual fraud and was arrested on September 30 of the same year.
To cut
What is the real profit situation of Longxin Technology? The data show that in 2018 Longxin Technology achieved a turnover of 576 million yuan, reachingNet profit-1.093 billion yuan.At the end of 2018, three factories, including Dalingshan, had gone out of business and Longxin Technology and Xinmalian only kept production of available orders; in 2018, Longxin Technology generated a huge amount ofLost1.150 billion yuan and insolvent at the end of the year.
Due to the rumble of mergers and acquisitions, Kang Ni Electromechanical built up in 2018Good willThe devaluation of 2.271 billion yuan and the huge loss of 1.22 billion yuan in Longxin Technology led to the net loss of Kang Ni Electromechanical attributable to shareholders of listed companies in 2018.profitThe loss was nearly 3.2 billion yuan. This amount far exceeded the sum of profits made by Kang Ni Electromechanical since its listing, which means that all of Kang Ni Electromechanical’s results since its listing have been in vain.
Connie, who met the “black swan”, immediately sold Longxin Technology. In June 2019, Kang Ni Electromechanical announced that in order to resolve the crisis caused by the acquisition of Longxin Technology by listed companies, prevent the loss from further expanding and maintain the healthy development of the company’s original core business, it intends to transfer to Nanjing Zijin Guancui PrivateenterpriseDevelopment of the rescuebottomcooperationEnterprise (Limited Partnership) (hereinafter referred to as Relief Development Fund) sold 100% stake in Longxin Technology. The announcement showed that the transaction was valued at 400 million yuan. Considering that the transaction is based on the bailout spirit,Capital transferAfter completion, if the subsequent disposal of Longxin Technology’s income by the transferee is less than 400 million yuan, all relevant disposition income will belong to the transferee; if the subsequent disposal of Longxin Technology’s income by the transferee is greater than 400 million yuan, it will exceed 90% of the 400 million yuan portion is owned by listed companies and 10% is owned by the development fund rescue.
After cutting Longxin technology, Kang Ni Electromechanical’s performance, who survived a broken arm, improved. The third quarterly report shows that in September 1, 2020, the company achieved a total operating income of 2.515 billion yuan.Year after yearReduced by 1.64%; net realized profit of 390 million yuan, an increase of 82.65% over the same period last year.
(Source: Securities Times)
(Responsible publisher: DF522)
Solemnly declares: the purpose of this information is to disseminate more information, and it has nothing to do with this stand.
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