Once difficult to return home due to covid-19, but now it has been filed for investigation. The actual controller of Zhejiang Busen Garments Co.Ltd(002569) is suspected of job occupation

On January 18, Zhejiang Busen Garments Co.Ltd(002569) (002569, SZ) announced that it had recently received a notice from the actual controller that Wang Chunjiang, the actual controller of the company, was filed for investigation by Haikou Public Security Bureau on suspicion of embezzlement by Hainan Yilian Pratt Whitney Internet microfinance Co., Ltd.

The listed company said that at present, the company’s business activities are normal, and the investigation has not had a significant impact on the production and operation and corporate governance of the listed company.

A week ago, on January 11, Zhejiang Busen Garments Co.Ltd(002569) announcement disclosed that the equity of Beijing Dongfang Hengzheng science and Trade Co., Ltd. (hereinafter referred to as Dongfang Hengzheng, the controlling shareholder of Zhejiang Busen Garments Co.Ltd(002569) ) held by Wang Chunjiang was frozen by the judiciary. The executors are Haikou Public Security Bureau, Guangzhou Tianhe District People’s court and Jinhua intermediate people’s court.

According to the data, as of the third quarter of 2021, Dongfang Hengzheng was still the largest shareholder of the listed company, holding 15.55%. Wang Chunjiang, the actual controller of Dongfang Hengzheng, officially became the actual controller of the listed company in September 2019.

Public information shows that Wang Chunjiang graduated from Northwest University of technology. Due to family and physical reasons, Wang Chunjiang temporarily lives in the United States. When Wang Chunjiang lived abroad, although he actively participated in the decision-making of various business activities of the company, it was difficult to do it personally for the operation and development of the company due to distance. Therefore, Wang Chunjiang announced that he “retired to the second tier”, entrusted 60% of the voting rights of Dongfang Hengzheng to his mother-in-law Wang Yazhu, and recommended his mother-in-law to take the helm of the company.

As the actual controller of a listed company, why did Wang Chunjiang stay abroad for a long time?

Previously, Zhejiang Securities Regulatory Bureau issued a “conversation notice” to Zhejiang Busen Garments Co.Ltd(002569) and decided to meet with Wang Chunjiang, the actual controller and chairman of the company, but Wang Chunjiang did not attend the conversation at the securities regulatory bureau. Zhejiang Securities Regulatory Bureau asked the company to explain the specific reasons why Wang Chunjiang has not participated in the conversation so far.

Since then, the announcement of the listed company shows that Wang Chunjiang accompanied his wife to enter the United States in February 2021 for personal and family reasons, stayed in the United States, and now lives in San Francisco. Originally planned to return to the country in May 2021, but due to the detention of the United States during the infection of New Coronavirus, can not get back to the green code. p align=”center” style=”text-align:center;”> Last August, Wang Chunjiang said he was infected with covid-19 and stayed in the United States. Photo source: screenshot of the announcement

After the Zhejiang Busen Garments Co.Ltd(002569) disclosure that Wang Chunjiang was filed for investigation, the reporter of the daily economic news found that Wang Chunjiang was not only the actual controller of Zhejiang Busen Garments Co.Ltd(002569) , but also the actual controller of yilianhuihua (Beijing) Technology Co., Ltd. (hereinafter referred to as “yilianhuihua”).

Qixinbao shows that yilianhuihua once held 30% equity of Hainan Yilian Pratt & Whitney Internet microfinance Co., Ltd. According to the change of historical industrial and commercial information of Hainan Yilian Pratt Whitney Internet microfinance Co., Ltd., the shareholder figure of Yilian Huihua appeared from October 2017 to August 2018

Photo source: screenshot of qixinbao

In 2019, Hainan Yilian Pratt Whitney Internet microfinance Co., Ltd. was involved in a storm of complaints about excessive interest loans. At that time, the company publicly clarified that criminals were engaged in illegal lending business in the name of counterfeiting the company.

On January 18, the reporter of “daily economic news” asked Secretary Zhejiang Busen Garments Co.Ltd(002569) for confirmation of relevant information about job occupation, but as of press time, there was no response.

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