Late today (February 28), Suzhou Secote Precision Electronic Co.Ltd(603283) ( Suzhou Secote Precision Electronic Co.Ltd(603283) , SH) announced that the company had recently received the notice on disposal of breach of contract issued by Huatai Securities Co.Ltd(601688) because the relevant stock pledge repo transaction handled by the controlling shareholder and actual controller sun Feng and Huatai Securities Co.Ltd(601688) triggered the terms of breach agreed in the agreement, Huatai Securities Co.Ltd(601688) plans to sell the underlying securities held by sun Feng in violation of the law, involving an initial transaction amount of 350 million yuan, 50 million yuan has been returned, and the remaining 300 million yuan.
It is worth mentioning that sun Feng is not only facing passive reduction of holdings, but also the divorce case between him and Zeng Hui is in the trial stage. Once the property is divided, his wealth may further shrink.
sun Feng’s shareholding or passive reduction
According to Suzhou Secote Precision Electronic Co.Ltd(603283) announcement, within 6 months after 3 trading days of block trading and 15 trading days of centralized bidding, Huatai Securities Co.Ltd(601688) plans to reduce a total of no more than 7274400 shares through block trading, that is, the total reduction of no more than 4% of the total share capital of the company; The total reduction by centralized bidding shall not exceed 3637200 shares, that is, the total reduction shall not exceed 2% of the total share capital of the company. The total reduction of the two methods shall not exceed 109116 million shares, or 6% of the total share capital of the company.
According to Suzhou Secote Precision Electronic Co.Ltd(603283) announcement, sun Feng holds 40.53 million shares of the company, accounting for 41.03% of the company’s shares and 22.29% of the company’s total share capital.
According to the announcement, sun Feng is the controlling shareholder and actual controller of Suzhou Secote Precision Electronic Co.Ltd(603283) and directly holds 987845 million shares of the company, accounting for 54.32% of the total shares of the company. Zeng Hui, the person acting in concert, directly holds 6.0122 million shares of the company, accounting for 3.31% of the total share capital of the company.
As of the closing on February 28, Suzhou Secote Precision Electronic Co.Ltd(603283) shares closed at 24.66 yuan / share. According to this estimation, sun Feng’s direct holding of the stock market is about 2.436 billion yuan.
According to the Suzhou Secote Precision Electronic Co.Ltd(603283) prospectus, sun Feng was born in 1978. Before 2002, they worked as test engineers in Kunshan KONE elevator. Public information shows that sun Feng and Zeng Hui jointly operated an automation equipment factory in Suzhou from 2002 to 2007, and they jointly founded saiteng electronics, the predecessor of Suzhou Secote Precision Electronic Co.Ltd(603283) in 2007. At present, Suzhou Secote Precision Electronic Co.Ltd(603283) is mainly engaged in the R & D, design, production, sales and technical services of intelligent manufacturing equipment. The company’s products and services are mainly related to consumer electronics, automobiles (new energy vehicles), semiconductors, lithium batteries and other business fields.
In July 2019, Suzhou Secote Precision Electronic Co.Ltd(603283) officially landed on the Shanghai Stock Exchange. Sun Feng and Zeng Hui doubled their wealth. The couple ranked 1274 on the 2019 Hurun rich list with 3.1 billion yuan. In 2020, sun Feng and Zeng Hui were worth 6.2 billion yuan, rising 341 places in the Hurun rich list. In 2021, their net worth fell to 2.8 billion yuan, and the ranking of Hurun’s 100 rich list fell 1305 to 2238.
divorce case has not been settled
It is worth mentioning that sun Feng’s wealth is also facing the possibility of being divided.
In December 2021, Suzhou Secote Precision Electronic Co.Ltd(603283) announced that sun Feng’s wife Zeng Hui had filed a lawsuit to the court for divorce and property division.
According to the announcement, the divorce lawsuit only involves the shareholders’ rights and interests of the actual controller to the company, has nothing to do with the company’s production and operation, and will not have a significant impact on the company’s operation. Because the case has not been heard in court, the company cannot judge the litigation result, nor can it predict the litigation process and judgment time, and there is uncertainty about whether the actual control of the company has changed.
At that time, Suzhou Secote Precision Electronic Co.Ltd(603283) said that the company’s daily operation was normal, and the company would perform the obligation of information disclosure in time according to the progress of the case. As of February 28 this year, Suzhou Secote Precision Electronic Co.Ltd(603283) has not released the relevant announcement on the progress of divorce cases.
The reporter of the daily economic news noted that sun Feng’s property involving Suzhou Secote Precision Electronic Co.Ltd(603283) rights and interests includes: about 987845 million shares of the company directly held; Zeng Hui’s property related to the interests of the company includes: about 6012200 shares of the company directly held by both parties, and the amount of shares indirectly held by both parties through Suzhou Saiwei Investment Management Center (limited partnership), Suzhou saiyue Investment Center (limited partnership), Suzhou Saiyu Investment Management Center (limited partnership) and Suzhou saiqiang Investment Management Center (limited partnership).
According to the closing price of Suzhou Secote Precision Electronic Co.Ltd(603283) today, the divorce of the two will involve an equity division of more than 4 billion yuan.
