Zhejiang Busen Garments Co.Ltd(002569) on January 18, it was announced 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. 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.
On December 3 last year, Zhejiang Busen Garments Co.Ltd(002569) announced that it had received the notice of filing a case from the China Securities Regulatory Commission. Because the company was suspected of violating laws and regulations in information disclosure, it was filed for investigation by the China Securities Regulatory Commission. Five days later, the company again received the decision on administrative supervision measures issued by Zhejiang securities regulatory bureau. Since June 2015, Zhejiang Busen Garments Co.Ltd(002569) has been filed three times and subjected to administrative punishment twice.
The continuous “remake” is not only the case that the company is investigated and punished, but also the plot of the actual controller “changing the master – internal struggle – stepping down – running away” has been staged many times in Zhejiang Busen Garments Co.Ltd(002569) .
On August 18, 2021, nearly two years after becoming the actual controller of Zhejiang Busen Garments Co.Ltd(002569) , Wang Chunjiang “reported illness” and failed to return home and announced “stepping down”, and Zhejiang Busen Garments Co.Ltd(002569) was transferred to the power of Wang Yazhu, the mother of Wang Chunjiang’s spouse.
Specifically, Huaxia Xianhe plans to subscribe for 43.203 million shares of Zhejiang Busen Garments Co.Ltd(002569) non-public offering, accounting for 23.08% of the total share capital. On the same day, Wang Yazhu, chairman of Huaxia Xianhe, signed a voting right entrustment agreement with Wang Chunjiang. The corresponding voting rights of 60% shares of Zhejiang Busen Garments Co.Ltd(002569) controlling shareholder Dongfang Hengzheng were irrevocably entrusted to Wang Yazhu by Wang Chunjiang. Through this operation, Wang Yazhu’s total voting rights of Zhejiang Busen Garments Co.Ltd(002569) will reach 35.04%.
Wang Chunjiang explained in the announcement that “due to the infection of covid-19 virus during his stay in the United States, he has not been able to get the green code for returning home… It is difficult to do it personally for the operation and development of the company due to distance, which may affect the operation and governance efficiency of Zhejiang Busen Garments Co.Ltd(002569) .”
It is worth pondering that two years ago, Zhao Chunxia, the former actual controller of Zhejiang Busen Garments Co.Ltd(002569) , failed to return home due to medical treatment. After a series of storms, she lost the actual control of the listed company and finally “planted” in small loan finance.
