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2022-08-15
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Sun Lianying continued to be at the helm of Red Lion

SUN Lianying continued to be at the helm of Red Lion

August 12, 2004

on August 10, the reorganization of the board of directors of Beijing Red Lion, which lasted for 14 months, was successfully completed, *st Fenghua's current general manager Wu Xin and financial director Li Xingjun entered the board of directors of Beijing Red Lion, and sun Lianying was reappointed as chairman of the company

SUN Lianying is still at the helm of Red Lion

on the 10th, the 2004 extraordinary general meeting of shareholders of Beijing Red Lion paint Co., Ltd. proposed by *st Fenghua (holding 80% equity of Beijing Red Lion) was held in the conference room on the third floor of Beijing Red Lion. Jinan Runjia Investment Co., Ltd., another shareholder of Beijing Red Lion (holding 20% equity of Beijing Red Lion), did not attend the meeting, which was presided over by Li Jie, chairman of *st Fenghua

after more than three hours of discussion, Solvay materials and market experts will discuss the latest R & D trends of the automotive and transmission industry with industry professionals from all greater China. The extraordinary general meeting of shareholders approved the work report of the first board of directors that Beijing Hongshi PU materials can print highly complex components, reviewed the revised articles of association, elected the members of the second board of directors, the members of the first board of supervisors Agree in principle with the work objectives of Beijing Red Lion for the next three years proposed by the last board of directors

among the five directors elected this time, Beijing Red Lion accounted for three, including sun Lianying, chairman of the company, huangyulin, deputy general manager, and liduoren, general manager of DuPont Red Lion (Beijing) coating Co., Ltd. Li Doren was formerly the Deputy Secretary of the Party committee of Beijing Red Lion, and later transferred to the joint venture* St Fenghua appointed two directors, Wu Xin, the general manager of the company, and Li Xingjun, the person in charge of finance

compared with the first board of directors, *st Fenghua has obviously strengthened its control over Beijing Red Lion. Insiders told that such personnel arrangements may be the result of mutual compromise between the two sides. Among the existing five directors, two are directly from Beijing Red Lion, two are from *st Fenghua, and one is from DuPont Red Lion, which is in sharp contrast to the previous five directors from Beijing Red Lion

however, for *st Fenghua, it seems that Beijing Red Lion has not been fully included at present, for two reasons: first, *st Fenghua is in a weak position in the board seat; Second, sun Lianying is still the chairman of Beijing Red Lion. In terms of power control, the Red Lion "old man" led by her has the upper hand. However, *st Fenghua may be forced by the current situation to choose such a compromise for the transition, but it seems to have left a hand. According to the original articles of association of Beijing Red Lion, the chairman of the company is elected by the board of directors, but after this amendment, the chairman is elected by the general meeting of shareholders, and *st Fenghua accounts for 80% of the voting rights of the general meeting of shareholders. Therefore, *st Fenghua's attitude is very important

the first reorganization aborted

in fact, before Shanghai Jiuchang took over *st Fenghua, Beijing Red Lion, as the main asset of the listed company, has always been the target that the former major shareholder Hanqi group wanted to control

on May 22, 2003, *st Fenghua held the interim shareholders' meeting of Beijing Red Lion, which passed a proposal on restructuring the board of directors of Beijing Red Lion, and resolved to remove sun Lianying, chairman of Beijing Red Lion and all his positions in affiliated enterprises, and Wang Shuzhen and other directors. The reorganized Beijing Red Lion has seven directors, including Qing Cai, Han Ming, Peng long, Wang Zhi and Wang Chengxu, who are the second precision grade selection directors. Subsequently, the new board of directors elected Yu Qingcai as the chairman of Beijing Red Lion. Yu Qingcai was the general manager of *st Fenghua, Peng Long was the chairman of *st Fenghua, and Han Ming was the supervisor of *st Fenghua. They all came from Hanqi group

however, the original board of directors of Beijing Red Lion, represented by sun Lianying, did not implement the resolution of the extraordinary general meeting of shareholders on May 22, nor did it handle the normal handover procedures, and even pointed the finger at Hanqi group. The four directors who were removed from office filed a civil lawsuit in Beijing Fengtai District People's court in their own name, suing *st Fenghua and Beijing Hanqi Investment Co., Ltd., which are controlled by Hanqi group, requesting the court to determine that the resolution of the extraordinary general meeting of shareholders is invalid, issue a Clarification Announcement, and pay reputation compensation to the four parties at the same time

although the court dismissed the plaintiff's lawsuit after the trial, the performance of sun Lianying and others frustrated the hope of Hanqi group to forcibly seize Beijing Red Lion

the second restructuring was not announced

the attitude of the original board of directors of Beijing Red Lion did not stop the determination of Hanqi group to restructure the board of directors

on December 2, 2003, *st Fenghua held the first meeting of the Fourth Board of directors, and the directors attending the meeting agreed that, *st Fenghua should propose to convene the annual general meeting of shareholders of the company as the first controlling shareholder of Beijing Red Lion to consider relevant matters stipulated in the company law

the reason why Hanqi group is eager to hold the shareholders' meeting of Beijing Red Lion at the end of the year is that the first board of directors of Beijing Red Lion expired on December 26, 2003. According to relevant regulations, the term of office of each board of directors is three years, and a general election must be held after the expiration. Hanqi group once again proposed to hold the shareholders' meeting on this basis. However, the resolution of the general meeting of shareholders was not announced as before

an information obtained from Beijing Red Lion shows that on December 25, 2003, *st Fenghua director Zhang Xiaobin delivered the resolution of the general meeting of shareholders to the board of directors of Beijing Red Lion. Before the shareholders' meeting, Zhang Xiaobin, entrusted by the board of directors of * ST Fenghua, had many in-depth communications with the members of the first board of directors of Beijing Red Lion on the formation of the new board of directors, the handover of the new and old board of directors and other remaining issues. The subsequent shareholders' meeting adopted the requirements put forward by sun Lianying and others: he did not agree to handle the handover before the first board of directors of Beijing Red Lion reached a formal conclusion on the disposal of assets of 420million yuan. At the general meeting of shareholders 3 To adjust the speed gear, open the leftmost cabinet door and the reducer cover door on the console. Zhang Xiaobin proposed that he convene a new board meeting to complete the handover after coming up with the independent and impartial audit conclusion of a third party issued by the audit firm as soon as possible

from May 2003 to August 2004, the board of directors of Beijing Red Lion has undergone three reorganizations in just over a year. No wonder sun Lianying sighed in an interview that the instability of the company and the frequent accusations of Hanqi group made Beijing Red Lion lose the best opportunity to cooperate with DuPont last year

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