Treasure can take full CSG letter of a regulators directed attention

Polaris solar PV net news: CSG yesterday afternoon a line suddenly try to limit. Reporter learned from multiple independent sources, on behalf of the PO line south of glass a published book of the message to all employees of the China Southern glass group, accused the former management company interests, ensnared employees, staff who are also welcomed back.

CSG a late yesterday reported the unpublished book of the message to all employees of the company. According to the reporter’s information, the copy of the message to all employees has been released on November 16, but publishing is a treasure on behalf of the line south of glass a clarification announcement indirectly shows the company’s current predicament. All sorts of visions caused the attention of regulators, the Shenzhen Stock Exchange late yesterday directed two letters of concern, to the CSG Shenzhen regulatory Bureau also sent a letter of concern.

Revenue of billions is no easy task

Above the message to all employees regarding CSG four to the future planning: Po will provide capital support, push the staff motivation scheme and so on, and strive to develop the CSG as revenue exceeding billions, over tens of billions of profits of integrated holdings, also proposed the implementation of headquarters management functions.

This reporter has learned, CSG, some executives to resign yesterday started the handover, former Secretary of the Board transfer of Ding Jiuru said his work had “7788”, ex-hairenshou also send executives into the CSG. CSG Acting Chairman Chen yesterday afternoon by way of video, meeting with factory communication, finding replacements. All seen treasures can fully take over CSG.

Public information, 2013-2015, CSG revenues were 7.7 billion yuan, 7 billion yuan, 7.4 billion yuan, net profit was 1.54 billion yuan, 870 million, 620 million Yuan. CSG a good momentum this year, achieved revenues of 6.5 billion yuan in the first three quarter, net profit of 710 million Yuan. In view of this, China Southern glass treasure can target very far away.

Stakeholders also told reporters referring to the goal, said: “these kinds of manufacturing companies, sale income less than billion a year now, how is this could reach hundreds of billions. ”

Hairenshou and its shareholders before Bao group, claimed through a variety of channels, as a co-relying on the financial ties of the combination of industry and finance group, will be determined to do CSG strategic investors and hold; shareholders a huge amount of resources and capital advantages into full play, and integration of industry resources, the maximum supported CSG around horizontal and vertical development of the industry chain.

CSG late yesterday said in the announcement, shareholders and directors said they would firmly support the company’s sustained development, ensuring normal production and operation, will support the company continue to deep expansion project of glass, glass, e-glass and the PV field, as well as the business.

Regulators sent a letter concerns

Various regulators raised concerns. Late yesterday, SSE directed two letters of concern, respectively, CSG, hairenshou before the inquiry.

CSG Shenzhen stock exchange requirements detail the process of planning matters of equity incentives in the near future, combined with hairenshou and other major shareholders before the media reports detailing involvement or intervene directly in equity incentive plan of the company developed, and companies located in the Shenzhen science and Technology Park film sales behavior, and so on.

SSE also requirements South glass description and “flag bin group” about cooperation of specific situation, company Tung prison high whether exists using its in listed company of terms seek interests, and whether exists misappropriated company funds and occupation company property, and whether exists using positions convenience for himself or others seek belongs to listed company of commercial opportunities, and whether exists proprietary or for others business and company same or similar business, case.

In addition, the Shenzhen Stock Exchange seeking southern glass a note to the Secretary of the Board of Ding Jiuru specific resignation process, resigned as part of the real intention, whether the factual basis for a notice of resignation is sufficient and reliable combined with the disclosure of periodic reports, as well as the Board of Directors and executive team changes, elaborate on whether corporate control has changed.

Shenzhen Stock Exchange inquiry of anterior hairenshou, the existence of participation or intervention CSG developed the draft equity incentive plan and other relevant circumstances, media interviews or statements of case, detailing companies and persons acting in concert are actually exercised control of the CSG.

SSE is also concerned that, according to the CSG notice as of July 8, 2016, ex-hairenshou and their concerted action amounted to holding shares of 26.36% CSG a shares. SSE demands detailed description hairenshou major equity investment to China Southern glass holdings, are in accordance with the interim measures on the investment of insurance funds equity, use of interim measures for the management of insurance funds and other provisions of laws and regulations.

Original title: fire treasure can take full CSG regulators letters of concern

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