At 3 pm on the 11th, the NVC Lighting Media Meeting (Chongqing) led by Wu Changjiang held a media meeting at the Chongqing NVC Optoelectronics Experience Hall. Executives such as Wu Changjiang, Wang Minghua, Mu Yu, and Zhao Yifang will attend in person. However, the Chongqing meeting was held after a delay of about half an hour, and Wu Changjiang did not explain the reason for the delay.
At 4 pm on the same day, the NVC Lighting Media Conference (Beijing) led by Dehao Runda will be held in Multi-Function Hall 6 on the B1 floor of China World Hotel in Beijing. Wang Donglei will personally attend. At the scene of NVC Lighting in Beijing, Wang Donglei was late to attend the media meeting.
Wang Donglei: Expressed regret and confusion about the various problems encountered after the removal of the CEO. Why can’t the Wanzhou factory start operating yet? Why was Wu Changjiang able to refuse to accept the board of directors' resolution and continue to occupy the company? Who gave him such rights and courage? The media interpreted this as infighting, which I think was misconstrued.
Wang Donglei: Expressed regret and confusion about the various problems encountered after the removal of the CEO. Why can’t the Wanzhou factory start operating yet? Why was Wu Changjiang able to refuse to accept the board of directors' resolution and continue to occupy the company? Who gave him such rights and courage? The media interpreted this as infighting, which I think was misconstrued.
Whether to reimburse large amounts? Wang Donglei responded
I have the right to sign the financial affairs of Lei Shiwu, but I have no right to reimburse, and I have never reimbursed a penny! I won’t fall out with others over millions or tens of millions, is that possible? And what could possibly cost millions?
Investing too much in specific businesses
Wang Donglei: I deeply regret paying too little attention to internal affairs and trusting him too much! Never held an executive meeting, always supported him from behind! Give him face and let him be the boss! After the threat of establishing an operator alliance recently, a meeting was never held, and he only visited a few operators! Wu Changjiang, an operator I was familiar with, deliberately tried to harass him. In the end, this operator was afraid of me. All operators across the country supported the work of the board of directors!
Whether the core assets have been transferred
Independent director Wei Hongxiong: In my opinion, any transaction is a related transaction and requires a resolution by the board of directors. If it is serious, it also requires a vote at the shareholders' meeting. Related parties need to avoid it. Legally, there is no possibility for Dehao Runda to misappropriate NVC assets.
The board of directors is invalid and the independent directors do not agree to remove Wu Changjiang
Independent Director Wei Hongxiong: I attended the meeting at the time, and I can answer that the company held an extraordinary general meeting of shareholders last Friday and dismissed him from his post. Wu Changjiang made a speech, and other participating directors were given the opportunity to express their opinions! The voting result was that except for Wu Changjiang, all other directors voted in favor, and the resolution was legal and valid!
Why did you trust Wu Changjiang so much before?
Wang Donglei: I didn’t know him before the acquisition. The first time I had a conflict with the entrepreneur, I didn’t know about it, but I knew about the conflict with Mr. Yan. The main consideration was the strong complementarity in business. Both LED companies can become bigger and stronger when combined. In terms of business model design, we had a high degree of interest binding with Wu Changjiang. I thought there would be no problems at the time. Wu Changjiang is going bankrupt, but I have earned you hundreds of millions! Use your vote to put you on the board! He also promised not to engage in related-party transactions, but he failed to follow the rules or never wanted to do so. He also expanded related-party transactions and exceeded the company's bottom line, making the board of directors intolerable!
The board of directors must fulfill its responsibilities
Responsible to the small shareholders, otherwise there will be legal risks. The company's lawyers have sent letters twice to remind them of the risks and require each director's lawyer to prepare for personal risks. The dismissal of Wu Changjiang is the result of Wu Changjiang's complete disrespect for the rules of listed companies.
Is it true that we signed a secret agreement when we participated in the shares?
Wang Donglei: First, we had a gentleman’s agreement before! But there is a premise that the interests of shareholders cannot be harmed. Second, this agreement is valid for one year.
How is the progress of Chongqing Wanzhou?
Wang Donglei: The reception of the Chongqing headquarters was hindered and the police intervened. Only half of them were accepted. At present, Wu Changjiang used dozens of unidentified people to drive out the new cadres. Wanzhou Work worked for a day or two after being accepted, but we were attacked by hundreds of people early in the morning. The local government asked us to withdraw in the name of maintaining stability.
Wang Donglei: The resolutions of the board of directors must be implemented
I don’t understand how the board of directors can protect the interests of shareholders and investors when my legal assets are controlled by others but I can’t do anything about it!
Q: How many procedures are left to remove Wu Changjiang? What should I do if Wu Changjiang doesn’t leave? Has relevant evidence been exchanged with the police? Do you regret investing 1.65 billion shares? Wang Donglei: I only answer one question. The recall process has been completed. Wu Changjiang’s illegal possession of the company is illegal. I believe in the leadership of the Chongqing government and the party!
Question: What are the business considerations for the personnel adjustment, and what impact will it have on the business in the second half of the year? Wang Donglei: As an LED industry, NVC and Dehao Runda have complementary advantages. However, Wu Changjiang’s improper behavior prevented the advantages of both companies from being fully utilized. After he left, NVC could quickly recover and develop at a high speed.
Wu Changjiang prepares for operator grand alliance
Wang Donglei: This practice is illegal. As the CEO of a listed company, he formed an alliance with dozens of operators of the listed company, signed and fingerprinted them, and claimed to sign an exclusive sales agreement with the listed company for twenty years. This is an act of destroying the listed company. Since this did happen, I had to step in to stop it and did a lot of work. Two days ago, the National Operators Conference was held in the name of the board of directors. Wu Changjiang strictly ordered not to participate. However, almost 80% of the operators expressed support for the correct resolution of the board of directors. I believe that fair business rules are understood and respected by everyone!
Question: Investors only need to manage their profits well when investing? Shouldn’t you have the right to vote? Do you have evidence that Wu Changjiang owes gambling debts?
Wang Donglei: Shareholders have the rights of shareholders, and managers have the rights of managers. There is a clear division of labor and they act in accordance with the law. Wu Changjiang’s views are not in line with the governance of listed companies and are not something that should be operated in accordance with the law! The culture and style of gambling should be put like this. On July 18, Wu Changjiang admitted face to face in my office that he had 400 million gambling debts, with monthly interest exceeding 10 million, and no interest payment for 4 months! Being chased every day!
Wang Donglei: Wu Changjiang brought everyone into our company and started recording. The recording of this conversation was also a last resort. I can play the recording on the spot.
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