Mita shares (000782.SZ)

March 26 published a paper to clarify the notice to the largest shareholder of Guangdong Tianjian Industrial Group Co., Ltd. (hereinafter referred to Tianjian Group) internal accumulation of years of contradictions, and finally exposing the iceberg. iceberg.

Mita shares the announcement that Tianjian Group, one of the shareholders, Mita shares chairman Liang Weidong Tianjian Group’s two other shareholders Liang Guangyi Liang Shaoxun as a third party in the litigation, the request that the judgment of dissolution of the three co-ownership Tianjian Group. February 17, Jiangmen City Xinhui District Court accepted Liang Weidong the lawsuit.

a Tianjian Group shareholders infighting resulting from the behind the scenes pushed to the fore.

March 27, 2009, Liang Weidong aspects attorney, said in an interview with this reporter, Tianjian Group’s seal has been Zhangchong Bin (Liang Shaoxun, a Liang Guangyi the equity trustee) a party to robbery, which makes the company’s operating in a very unstable state.

and because of risk considerations, the Guangdong region, the bank has basically stopped Tianjian Group and a subsidiary of the loan, some banks even for early repayment.

public information, Liang Weidong and of Liang Shaoxun, Liang Guangyi Tianjian Group held 33.33%, 33.33%, 33.34% stake in Tianjian Group holds a 20.23% stake in the Metroplex shares ranked Mita shares a major shareholder. Liang Weidong, the Liang Shaoxun and Liang Guangyi Mita shares the sixth board as chairman, vice chairman and director of the post.

Right now,

Liangguang Yi and Liang Shaoxun on suspicion of bribery units in custody in Heshan, Jiangmen City Detention Center, two shareholders some Tianjian Group held 66.67% stake entrusted to a Liang Guangyi the nephew Zhang Chongbin on behalf of the exercise.

this “separation” whirlpool originally Tianjian Group has a “the Jiangmen first private enterprises,” said his arm Mita shares inevitably stand in the under-Wei Qiang.

22 years

contradictions

the story of

Tianjian Group can be traced back to the 1980s, wound up the company’s founder Liang Song (Liang Weidong father), Liang Guangyi and the Liang Shaoxun cobble together the 3600 dollars, the former town of Jiangmen Xinhui Division opened a workshop-style hardware factory, the three parties agreed to one-third of each stake.

Since then, this once little-known workshop hardware factory ushered in the era of Chinese economic power to open the doors and has subsequently embarked on its own expansion of the road – 1995, Tianjian Group Register set up At this point, the company’s registered capital has reached 150 million yuan; 1998, Tonge Group to invest in Guangzhou construction Tianjian Square to enter the field of commercial real estate. In 1999, Tonge Group, spend 40 million yuan acquisition of a 50-year-old large-scale state-owned enterprises in Jiangmen Shipyard, and sometimes lead to industry shake. 2002, Tianjian Group Meida Group price of 2.20 yuan / share, to buy some 8181.81 million shares Mita shares held by equity (the company wound up 23.92% of the total share capital) to become the largest Mita shares of listed companies shareholders.

Tianjian Group

now, the total assets of 3.5 billion yuan, annual output value exceeding 30 billion yuan, known as Jiangmen first private enterprises in terms of the top 500 private enterprises.

aspects Liang Weidong said, the end of 1990, Liang Song, as the founder of a new due to the differences between the parties for the first time raised the idea of ​​”separation”, but did not receive the consent of the other two shareholders, and the dispute eventually Liang Weidong “succession” Liang Song reconciliation. Liang Weidong admission not only failed to bridge the contradiction between the three parties, but this “Three killed,” to a climax.

1998 Liang Guangyi from Tianjian set aside 70 million yuan in Hong Kong, Lamma Island and the development of a project, but the other two shareholders do not agree with this project. 2008, buried the old contradictions intensify, Liang Weidong then and Liang Shaoxun jointly dismissed the Liang Guangyi TianJian Group as chairman, replaced by Liang Weidong succession.

the

But in 2011, has been on Lamma Island project and Liang Guangyi Liang Guangyi the Liang Shaoxun veiled criticism turned to form an alliance and work together to recall the duties of the Liang Weidong, re-elected Liang Guangyi chairman, Liang Weidong only Meida Nylon Co., Ltd., reserves the Listed Companies under the post.

while

shortly after the tripartite pattern again rewrite Tianjian Group factory in October 2011 Qing, Liang Guangyi, Liang Shaoxun, Liang Weidong three shareholders on suspicion of units of bribery, the the Jiangmen prosecution away. One day later, Liang Weidong has been put back, but the Liang Guangyi and Liang Shaoxun still being detained in Jiangmen Heshan Detention Center, Tonge Group two will be held by a 66.67% stake entrusted to the Liang Guangyi the nephew Zhang Chongbin on behalf of the exercise.

accompanied by two shareholders have temporarily lost their personal freedom, in the steady state of the three pillars of the situation once again be broken, the tripartite savings thus the climax of 22 years of contradiction.

seal attribution uncompromising

seal event of the,

this year, February 7 at 5 pm robbery Tianjian Group, seems to be the last straw tripartite intensification of the contradictions to the limit.

According to Liang Weidong’s attorney, told this reporter, Tianjian Group’s official seal was originally stored in the safe control of the three shareholders, Liang Weidong grasp a key, Liangshao Xun and Liang Guangyi grasp another key and password.

“in Liang Guangyi and Liang Shaoxun detainees, their family members to the Tianjian behalf of the Group apply for bail, Liang Weidong let us with the safe key to get the official seal, stamp the documents for release on bail. the stamped, Liang Ruixiang pick up the seal and left me and another staff up stopped Liang Ruixiang, but have been turned back. “said one was the presence of staff.

above away the official seal Liangrui Xiang, is the Liang Shaoxun son.

“Since then, Tianjian Group’s official seal in the custody of Zhang Chongbin party without permission, Zhang Chongbin party official seal of the local government departments, a large number of the SFC sent a letter reported for Liang Weidong after Mita shares the Board re-election , Zhang Chongbin party had sent a letter to the SFC, said Liang Weidong personal maturity debt outstanding, and thus not suitable to serve as chairman of a listed company, Liang Weidong also accepted interviews of Guangdong Province Securities Regulatory Bureau. “Liang Weidong agent The lawyers said.

the

But Zhang Chongbin party ownership of the official seal of Tianjian Group position different in the interview with this reporter, Zhang Chongbin Tianjian Group three shareholders had indeed around the official seal of the ownership of some dispute, but the seal has been returned.

Each side, true or false, the spectator is no way of conclusion. According to Liang Weidong’s attorney, Tianjian Group seal Zhang Chongbin controlled by a party, Tianjian Group’s business is almost stalled.

“As far as we know, since the seal was robbed Tianjian Group again is not foreign to sign a single contract.” A source close to the Tianjian within the Group who told reporters.

The largest shareholder of Tianjian respondent of

dissolution Mita shares face stop lending

banks stop lending

shareholders disputes

three troubled bring TianJian Group is far more than the stagnation of business, lack of ownership of Tianjian Group seal, the Group is exposed to the news of the dissolution proceedings wake-up call for local banks.

Liang Weidong’s attorney told reporters that under the influence of shareholder disputes, the Guangdong region, the bank has basically been stopped Tianjian Group and a subsidiary of the loan payment, some banks have even suggested that the early repayment requirements.

Mita, a top executive of the shares to the reporter confirmed this view.

“As the largest shareholder disputes, listed companies financing do encounter some obstacles, but the specific impact is unclear.” the executive said.

not good news for the tight cash flow Mita shares. Mita shares previously disclosed 2011 financial data, its 2011 third quarter alone generated from operating activities Net cash flows were -9995.28 million -7480 million, -2929.33 million.

As of September 30, 2011, Mita shares generated from operating activities Net cash flow is -2.04 billion; net cash flow from investing activities for -3035.82 million; only 128 million fund-raising activities Net cash flow, but in which the borrower to obtain cash has reached 841 million yuan.

listed companies due to financial transparency, able to obtain financing but by the restrictions listed companies borrowing from the bank borrowings, entrusted loans, etc., if the banks cut off their loans, then Mita shares the financial The situation will be a great challenge. “a Big Four accounting firms, the staff said.

Mita equity or easy to master

Apart from financing trapped Tianjian Group three shareholders disputes, Mita shares into the actual controller is easy to master uncertainty.

Liang Weidong the

the reporter to a new district court submitted the civil complaint, Liang Weidong said the long-standing differences of the three shareholders of Tianjian Group, discrete, confrontation, the company’s business philosophy is a huge difference to shareholders has lost the most basic trust, into the right to confrontation, cooperation among the base is no longer intact.

Liu Guohua, director of the Benben law firm of

Guangdong, said in the interview with this reporter, in accordance with the provisions of Article 183 of the “Company Law”, the company management is serious difficulties continue to exist, make the interests of shareholders subject to significant loss can not be solved by other means, the holding company all shareholders the right to vote, more than 10 percent of shareholders, may request the court to dissolve the company. Tianjian Group Tianjian Group reflected by all shareholders in line with the provisions of the Companies Act.

dissolution proceedings

listed parent company, Tonge Group case may be China’s capital market, the first case the court ruled that the dissolution of the Tonge Group Tianjian Group in liquidation after the cancellation of legal personality, that time Mita shares the shareholders will change. “said Liu Guohua lawyer.

the

while “separation” of the program, the Meida shares vesting, whether Liang Weidong Zhang Chongbin aspects are reluctant to reveal too much, said the two sides is still under negotiation.

Beijing judges of a court reporter revealed Mita shares of equity split a path.

“in the lawsuit, the judge may consider the social impact of the listed companies, to guide the three shareholders of the listed company’s equity transfer by one party to undertake, or looking for a new order receiving side Mita shares.” the judge said.

currently Tianjian Group Mita shares held 8181.81 million shares, all outstanding shares. March 28 Mita shares of 4.63 yuan / share closing price calculation, Tianjian Group held Mita shares the market capitalization of 379 million yuan.