On December 29, Aoyuan Beauty Valley Technology Co.Ltd(000615) a huge high-level earthquake occurred, and several senior executives such as directors, independent directors and President of the company resigned collectively.
directors with real estate background quit to further focus on medical beauty?
On December 29, Aoyuan Beauty Valley Technology Co.Ltd(000615) (000615) announced that the board of directors received the resignation reports of director Ma Jun, director Chen Yong, independent director Zhang Shujun, President Hu ran and CEO fan Shijie on December 29, 2021.
After resignation, Ma Jun, Chen Yong and Zhang Shujun will not hold any position in the company, Hu ran will continue to hold the position of director of the company, and fan Shijie will continue to hold the position of employee director of the company. According to the resolution of the board meeting on the 29th, Hu ran served as the chairman of the company and fan Shijie served as the president of the company.
Aoyuan Beauty Valley Technology Co.Ltd(000615) on the same day, it was announced that Huang Weimin was proposed to be nominated as a candidate for independent directors, and the first extraordinary general meeting of shareholders in 2022 was notified. The matters to be considered at the meeting were by election of directors and independent directors.
In addition, Aoyuan Beauty Valley Technology Co.Ltd(000615) announced on December 14 that Shen Siyun, director and CEO of the company, resigned for personal reasons.
During this personnel adjustment, almost all the directors who withdrew from the company had real estate background, or it was related to the company’s stripping of real estate business and focusing on medical beauty.
In June this year, Aoyuan Beauty Valley Technology Co.Ltd(000615) announced that it planned to divest the real estate business with RMB 1.02 billion. After the transaction is completed, Aoyuan Beauty Valley Technology Co.Ltd(000615) will focus on medical beauty business and chemical fiber new materials business.
On October 26, Aoyuan Beauty Valley Technology Co.Ltd(000615) announced that in the third quarter, the company successfully transferred 100% equity of Jinghan real estate, 100% equity of Beijing Yangjia and 35% equity of Penglai Hualu by means of public listing transfer, which was purchased by Shenzhen Kaixian investment in cash with a total transaction price of 1.02 billion yuan.
While stripping the real estate business, Aoyuan Beauty Valley Technology Co.Ltd(000615) also expanded its layout to the medical and beauty industry through M & A. According to public data, since 2021, with the completion of the acquisition of 55% equity of Zhejiang liantianmei Enterprise Management Co., Ltd., strategic cooperation agreements have been signed with pharmaceutical biotechnology research and development center of Guangzhou Jinan University and related parties, Dalian Jiyuan Pharmaceutical Technology Co., Ltd., and Aoyuan Beauty Valley Technology Co.Ltd(000615) has officially entered the medical beauty track.
The financial report shows that in the first three quarters of 2021, Aoyuan Beauty Valley Technology Co.Ltd(000615) achieved a revenue of 1.442 billion yuan, a year-on-year decrease of 1.30%; The net profit was 211 million yuan, turning losses into profits year-on-year, with a loss of 96.21 million yuan in the same period last year; The non net loss deducted was 98.7244 million yuan, a year-on-year decrease, but the loss has not been reversed.
For the reasons why the performance turned from loss to profit, Aoyuan Beauty Valley Technology Co.Ltd(000615) said in the performance forecast of the third quarterly report that on the one hand, the consolidation of Zhejiang liantianmei Enterprise Management Co., Ltd. acquired by the company in the second quarter brought positive contributions. The net profit of liantianmei from April to September was about 46.18 million yuan and the net profit attributable to the parent was about 25.4 million yuan, On the other hand, the company’s major asset restructuring was completed in the third quarter, in which the equity changes of major real estate projects and the collection of major equity funds were completed, and the sale proceeds were recognized in September.
the balance of the transfer of real estate business has not been settled, and it is in court with the major shareholder
It is worth mentioning that an arbitration was initiated on Aoyuan Beauty Valley Technology Co.Ltd(000615) December 20, requiring the major shareholder Kaixian investment to pay the transfer price of 409 million yuan.
Although both Jinghan real estate and Penglai Hualu have gone through the property right change registration procedures, Kaixian investment only pays 60% of the transfer price, and the remaining 40% of the transfer price of 100% equity of Jinghan real estate, which should be paid to Aoyuan Beauty Valley Technology Co.Ltd(000615) before November 30, is about 403 million yuan, which has constituted a breach of contract.
Public information shows that Kaixian investment is 100% owned by Aoyuan group, while Shenzhen Aoyuan Kexing Investment Co., Ltd., the major shareholder of Aoyuan Beauty Valley Technology Co.Ltd(000615) , is also 100% owned by Aoyuan group.
Aoyuan Beauty Valley Technology Co.Ltd(000615) formerly known as Hubei Jinhuan, it was established in 1993 and its main business is the manufacturing and sales of viscose fiber. In 2015, the company implemented a major asset restructuring, put into the real estate business of Jinghan real estate, and changed its name to Jinghan shares. In 2020, China Olympic Park acquired 29.30% equity of Jinghan shares at a consideration of 1.160 billion yuan. In November of the same year, Jinghan shares was renamed Aoyuan Beauty Valley Technology Co.Ltd(000615) .
Aoyuan Beauty Valley Technology Co.Ltd(000615) is a big bull stock in Yimei track in recent two years. From November last year to June 1 this year, the range increased by 620%. It soared six times in just seven months. After hitting a record high of 29.95 yuan / share on June 1, the company’s share price continued to fall. As of the closing on December 29, Aoyuan Beauty Valley Technology Co.Ltd(000615) shares were reported at 10.72 yuan / share, more than 60% from the historical high.
purchased stores from related parties in tens of millions
On November 23, Aoyuan Beauty Valley Technology Co.Ltd(000615) announced that it planned to purchase three shops held by subsidiaries of the company’s actual controller with RMB 79.465 million. For this transaction, Aoyuan Beauty Valley Technology Co.Ltd(000615) non affiliated directors cast a negative vote on the grounds that the fairness, necessity and sufficiency of information disclosure of this connected transaction cannot be judged due to the urgency of time and according to the existing data.
This has also aroused regulatory concern. The Shenzhen Stock Exchange issued a concern letter asking Aoyuan Beauty Valley Technology Co.Ltd(000615) to explain the reasons and rationality of adopting the purchase rather than leasing shops, whether the transaction pricing basis is fair and reasonable, whether it is possible to increase operational and financial risks, and whether it is suspected of transferring benefits to related parties.
In this regard, Aoyuan Beauty Valley Technology Co.Ltd(000615) replied that the shops were purchased for the company’s strategic layout of light medicine and beauty. The price of the shops purchased by the company was determined based on the transaction price and geographical location of the developer’s shops and other project shops within 1.5km nearby in the past two years, and the transaction price was fair. The transaction arrangement is in line with the existing commercial transactions in the market in combination with the actual situation, and there is no transfer of interests to related parties.
some directors, supervisors and senior executives’ share increase plans have not been completed
On May 22 this year, Aoyuan Beauty Valley Technology Co.Ltd(000615) disclosed the plans of some directors and senior executives to increase their holdings of the company’s shares, with a total amount of no less than 72 million yuan. The increased holdings include director and President Hu ran, director and CEO fan Shijie, CEO Xu Wei, Board Secretary Jiang Nan and CFO Lin bin.
However, as of November 23, the implementation period of the shareholding increase plan had expired. The total amount of shareholding increase of several directors and senior executives was only 5.393 million yuan, only 7.49% of the original plan. Except that Jiang Nan and Lin bin completed the increase amount in full, the increase amount of the other three executives is greatly different from the disclosed increase amount.
(planned increase amount)
(actual increased holding amount)
The announcement shows that Hu ran, fan Shijie and Xu Wei plan to increase their holdings of the company’s shares by no less than 50 million yuan, 10 million yuan and 10 million yuan respectively, and the actual holdings are 1180100 yuan, 1.075 million yuan and 1.958 million yuan respectively, which are far lower than the planned Holdings. The reason why they are not completed is that there are many information disclosure window periods / sensitive periods during the implementation of the plan.
Aoyuan Beauty Valley Technology Co.Ltd(000615) bid farewell to the “blood exchange” of the real estate management team: Ma Jun withdrew and Hu ran was righted
Share price “knee cut”, overweight plan into bad checks Aoyuan Beauty Valley Technology Co.Ltd(000615) directors and executives suddenly resigned intensively at the end of the year
(Securities Times)
