Just after the front foot replied, the back foot received a letter of concern. Since 2022, Landocean Energy Services Co.Ltd(300157) a series of actions have frequently attracted the attention of regulators.
On March 6, the management department of gem company of Shenzhen stock exchange sent a letter of concern to Landocean Energy Services Co.Ltd(300157) requesting the directors sun Yuqin, Zhang Houji, Li Xianyao, Li Wanjun, Liu Qingfeng, Guo Rong and Wang Pu to explain the specific reasons for disagreeing with the contents of the announcement and the specific contents, judgment basis and verification of major false statements in the announcement in combination with the specific process of reviewing the two announcements; The company and the other five directors are required to explain whether they guarantee that the contents of the two announcements are true, accurate and complete without false records, misleading statements or major omissions.
Since this year, Landocean Energy Services Co.Ltd(300157) has received many attention letters from Shenzhen Stock Exchange. In addition, the resignation of the chairman, supervisors, non independent directors and Secretary of the board of directors is also questionable. At the same time, the company’s continued performance decline has also attracted attention.
re receipt of the attention letter from Shenzhen Stock Exchange
On March 5, Landocean Energy Services Co.Ltd(300157) disclosed the reply to the attention letters issued by Shenzhen Stock Exchange on February 21 and February 24.
According to the two reply announcements, the directors Zhang Jiji, Li Xianyao and Guo Rong said that they “disagree with all the contents replied in the name of the company today (March 4), and believe that the announcement has major false statements, which will seriously mislead investors. If the Securities Department of the company issues the announcement without authorization, it will instruct the company to immediately investigate the legal responsibilities of relevant personnel”; The directors sun Yuqin, Li Wanjun, Liu Qingfeng and Wang Pu agreed with the opinions of the above three directors.
In this regard, the Shenzhen Stock Exchange again issued a concern letter on March 6, asking the above seven people to explain the specific reasons for disagreeing with the contents of the announcement, the specific contents, judgment basis and verification of major false statements in the announcement, and whether there is any abuse of the right to express dissenting opinions. And ask Landocean Energy Services Co.Ltd(300157) and five other directors to explain whether they guarantee that the contents of the two announcements are true, accurate and complete without false records, misleading statements or major omissions; Meanwhile, please Landocean Energy Services Co.Ltd(300157) respond to the dissenting opinions of the above seven directors.
The attention letter also said: from the previous reply, the directors of the company have made a valid resolution on whether the fourth meeting of the Fifth Board of directors was held and formed, whether the deputy chairman Wang lifeI’s acting as chairman and Secretary of the board of directors is legal and effective, whether shuosheng technology is qualified to convene an extraordinary general meeting of shareholders and whether the convening procedures are in compliance There are great disputes over whether the reasons for the dismissal of sun Yuqin as a director are tenable or not.
The attention letter requires Landocean Energy Services Co.Ltd(300157) all directors to explain their opinions and judgment basis on the above matters, and whether they actively promote the resolution of internal contradictions and disputes caused by the above matters within the framework of relevant laws, regulations and regulatory rules, and whether they actively take legal and reasonable relief measures to safeguard the legitimate rights and interests of the company and minority shareholders, Whether there is any situation that improper and extreme rights protection behavior prevents the company from performing its information disclosure obligations according to law, hinders the standardized operation of the company’s internal governance mechanism and hinders shareholders from exercising their legitimate rights.
management “internal struggle” endlessly
The reporter of Securities Times noticed that Landocean Energy Services Co.Ltd(300157) has received many attention letters from Shenzhen Stock Exchange since 2022. In addition, the resignation of the chairman, supervisor, non independent director and Secretary of the board of directors occurred many times.
Landocean Energy Services Co.Ltd(300157) ‘s ownership structure is relatively scattered. In the early stage, the actual controller of the company was sun Gengwen, but the shareholding ratio was only 15.62%. In 2019, sun Gengwen transferred his 10.67% equity to Yinchuan Zhongneng, which made Yinchuan Zhongneng the largest shareholder.
However, the position of the major shareholder of Yinchuan Zhongneng was not hot yet. In 2020, shuosheng technology competed for control by raising a card. On December 27, 2021, Landocean Energy Services Co.Ltd(300157) announced that the controlling shareholder of the company was changed from Yinchuan Zhongneng Xincai Technology Co., Ltd. to Beijing shuosheng Technology Information Consulting Co., Ltd., and the actual controller was changed from Ms. Liu Yaling to Ms. Li Liping. In addition, all 13 members of the Fifth Board of directors nominated by shuosheng technology were elected.
The announcement shows that shuosheng technology and its concerted action, Li Liping and Wang Xiaose, hold 124 million shares in total, accounting for 17.40% of the total shares of the company, and the number of voting shares accounts for 17.38% of the total shares of the company.
However, on January 6, Landocean Energy Services Co.Ltd(300157) announced again that Yinchuan Zhongneng and sun Gengwen were entrusting 14.23% of the voting rights of their shares to Housen investment. Since then, the company has started a series of personnel changes. Including the resignation of Chairman Sun Yuqin, Secretary of the board of directors Wang Yanqiu, chairman of the board of supervisors Liu Hong and non independent director Jiang Yuxin. It is worth noting that sun Yuqin and Wang Yanqiu both took office less than 50 days.
Although sun Yuqin will continue to serve as a director and general manager of the Fifth Board of directors, the major shareholder shuosheng technology proposed to the board of supervisors to convene an extraordinary general meeting to remove sun Yuqin from his position as a director, and then proposed to remove Zhang Jiji and other four directors. However, this move soon attracted the attention of the Shenzhen Stock Exchange, requiring shuosheng technology to explain the specific reasons for the removal of relevant directors and whether the removal arrangement is conducive to the effectiveness and stability of corporate governance; Request Landocean Energy Services Co.Ltd(300157) disclose the opinions of relevant directors on the recall proposal, and verify the specific reasons for shuosheng technology to set the preconditions for the effectiveness of the voting results of some temporary proposals.
recent stock price rise
According to the data, Landocean Energy Services Co.Ltd(300157) main businesses include core precision instrument and high-end equipment manufacturing, professional software for oil and gas exploration and development, engineering operation technical services, oil and gas assets, etc. Affected by the situation in Russia and Ukraine, driven by relevant sectors, the company’s share price ushered in a wave of rise. From February 18 to March 2, the company’s share price rose by 62.26%. On March 2, it once hit 7.48 yuan / share, the highest price since 2021.
However, Landocean Energy Services Co.Ltd(300157) the latest performance forecast shows that in 2021, the company’s operating revenue is 350 million yuan to 470 million yuan, and the estimated net profit is 450 million yuan to 750 million yuan. In fact, the company’s performance has declined since 2017, from 2.933 billion yuan in 2017 to 696 million yuan in 2020. In addition to making a profit in 2018, the net profit has accumulated a loss of 2.863 billion yuan in the other three years.
As for the reasons for the decline in performance in 2021, the company said that due to debt disputes, some bank accounts of the company and its subsidiaries, including basic accounts, were frozen, which had a great adverse impact on the company’s business bidding, production and operation, resulting in the decline of the company’s operating income and loss of operating performance during the reporting period. In addition, the company estimates that the provision for impairment of goodwill, long-term equity investment and receivables for some projects is about 400 million yuan to 500 million yuan.
The continuous decline in performance and the risk of asset withdrawal have attracted the attention of Shenzhen Stock Exchange. On January 25, Landocean Energy Services Co.Ltd(300157) received a letter of concern from Shenzhen Stock Exchange, and was mainly asked whether the decline in operating income of the company is sustainable, the impairment of relevant assets and whether there is a negative risk in net assets at the end of 2021.
