Recently, Wu Changjiang, the founder and former chairman of NVC Lighting Holdings Limited (NVC), was rather depressed. On August 15, the board of directors of NVC refused to return Wu Changjiang, which may mean that he may never return to the company he once created.
Since resigning as chairman and CEO of NVC in May, Wu Changjiang has been working hard to return to NVC. At present, the battle between him and the current chairman of NVC is fierce. This industry was considered by the industry as "the struggle between entrepreneurs and investors" also triggered the NVC staff strike, suppliers suspended supply, NVC stock price fluctuated. In response, the reporter interviewed Wu Changjiang on Saturday.
>> Talk about now to pick up the mess. Reporter: Last Friday you went to the Huizhou production base to pacify the parties. What do you mainly do in Huizhou?
Wu Changjiang: Stabilize the situation. I gave them work and let the people calm down. On Friday, I gave a meeting to the management in Huizhou headquarters. All the participants were members of the company who were in charge of the above positions. There were scores of individuals. The effect was very good. I gave them a two-hour meeting. Everyone was in tears and excited.
I would like to make an analogy: NVC is our child. Now that it is a problem and a terminal illness, we cannot ignore it. If there is a glimmer of hope, we cannot give up. Perhaps a miracle will happen. If one day he really died, we tried our best and we were not. On Monday I was looking for some suppliers to come back to the meeting.
Reporter: This is the second time NVC encountered shareholder differences. Did you have the confidence to pack this mess this time?
Wu Changjiang: This company was founded by myself. I know him best and I know it best. I feel that only I can clean up this mess. First, I have the confidence to unite people's minds. Second, I have done so for many years and have extensive experience in this industry, including the board of directors, and they all have to admit it. With a team, experience, and strength, I can do this company well.
Reporter: You are not the chairman of the company, nor is it the CEO. Why do you have to manage this?
Wu Changjiang: Because I am the founder, I am the major shareholder. I do not want to let the company go wrong. I will first stabilize the company. This is what I can do. Even if those shareholders do not let me come back and the stock goes up, I will not lose at least in terms of benefits. So I didn't do these things for them. I did it for myself.
>> Talking about responding to a special shareholders' meeting and returning to the reporter: The board of directors refuses you to return. Do you have any other measures than the special general meeting of shareholders?
Wu Changjiang: NVC is a listed company. If it is said that the general meeting of shareholders will not come back, there is no solution. Everyone is voting on the stocks in the hands. I just rolled up and rolled away.
Reporter: How do you plan to persuade them at the special general meeting of shareholders?
Wu Changjiang: Everyone is very clear and you have seen it. The board rejected me and NVC shares fell by half. From this point of view, all shareholders are dissatisfied with the board of directors, and small and medium shareholders support me. Their purpose is to make money. Only when I go back can I do a good job of the company in order to put the company on a normal track.
Reporter: Now the stock price fluctuates. From the equity structure, you are still the largest shareholder of NVC, because your shareholding is very close to Saifu, and they are all around 18%-19%. Will you maintain your status as a major shareholder and how do you maintain it?
Wu Changjiang: I am still a major shareholder. My primary task now is to stabilize the company's condition first, because people are distracted. This matter said that in my heart, it needs strength. I am very helpless now. I do not have any strength in him. He is holding other people's money and holding the investor's money. If I have two or three hundred million, I will win it. I do not have this strength. I am an entrepreneur. All my hard work and income are on NVC. I use my sincerity, my efforts, and my efforts so that all investors can clearly realize this. I hope they use the brain to vote instead of voting with their feet.
>> Talk about giving up at least to NVC. Find a good stepmother reporter: Have you ever thought of giving up? Because Nexus's board of directors did not make concessions even though employees, suppliers and distributors demanded your return.
Wu Changjiang: Who has the most feelings for NVC? No one can exceed me. Kai-fu Lee also told me to persuade me to give up. I can give up, but at least I must find a good stepmother and stepfather for NVC. Let me rest assured. Now all workers are not at ease, and all the small shareholders are not at ease. How do you say I give up? Someone else said that I hurt the company. I said it was my child. Just like parents, which parents are willing to hurt their children. I want to do my duty and do my best. I don't care about personal grudges. This is my child. I can't care. Although custody has been taken away from my hands, I will do my best to make it healthy and make it better.
>> Talk about reflection If you do not resign, there is no such thing. Reporter: Where is the root cause of NVC's turbulence? Is it the system or some link?
Wu Changjiang: This is not a system or management issue at all. If we have problems, it will not be possible to take the leading position in the industry today. This was inspired by accidental factors: They let me resign and said that when I got back, I sent me back to the board and let me manage the company. But when I came back, they always looked for reasons like this and rejected me. It was they who fooled me. I trust them too much. If I don't resign, there is no such thing. If you want to add sins, why do you have no words?
Reporter: Have you ever thought of making compromises with the board of directors?
Wu Changjiang: Actually I have been working hard and have been looking for them.
Reporter: What ideas do you have for introducing external capital in the future?
Wu Changjiang: NVC all these troubles are caused by the attraction of external capital. Advise entrepreneurs to be cautious when you need to introduce funds. I was so hasty at that time that the capital was difficult to think that there was money on it and it was not considered clearly. Everyone needs to communicate, communicate, and get along.
Since resigning as chairman and CEO of NVC in May, Wu Changjiang has been working hard to return to NVC. At present, the battle between him and the current chairman of NVC is fierce. This industry was considered by the industry as "the struggle between entrepreneurs and investors" also triggered the NVC staff strike, suppliers suspended supply, NVC stock price fluctuated. In response, the reporter interviewed Wu Changjiang on Saturday.
>> Talk about now to pick up the mess. Reporter: Last Friday you went to the Huizhou production base to pacify the parties. What do you mainly do in Huizhou?
Wu Changjiang: Stabilize the situation. I gave them work and let the people calm down. On Friday, I gave a meeting to the management in Huizhou headquarters. All the participants were members of the company who were in charge of the above positions. There were scores of individuals. The effect was very good. I gave them a two-hour meeting. Everyone was in tears and excited.
I would like to make an analogy: NVC is our child. Now that it is a problem and a terminal illness, we cannot ignore it. If there is a glimmer of hope, we cannot give up. Perhaps a miracle will happen. If one day he really died, we tried our best and we were not. On Monday I was looking for some suppliers to come back to the meeting.
Reporter: This is the second time NVC encountered shareholder differences. Did you have the confidence to pack this mess this time?
Wu Changjiang: This company was founded by myself. I know him best and I know it best. I feel that only I can clean up this mess. First, I have the confidence to unite people's minds. Second, I have done so for many years and have extensive experience in this industry, including the board of directors, and they all have to admit it. With a team, experience, and strength, I can do this company well.
Reporter: You are not the chairman of the company, nor is it the CEO. Why do you have to manage this?
Wu Changjiang: Because I am the founder, I am the major shareholder. I do not want to let the company go wrong. I will first stabilize the company. This is what I can do. Even if those shareholders do not let me come back and the stock goes up, I will not lose at least in terms of benefits. So I didn't do these things for them. I did it for myself.
>> Talking about responding to a special shareholders' meeting and returning to the reporter: The board of directors refuses you to return. Do you have any other measures than the special general meeting of shareholders?
Wu Changjiang: NVC is a listed company. If it is said that the general meeting of shareholders will not come back, there is no solution. Everyone is voting on the stocks in the hands. I just rolled up and rolled away.
Reporter: How do you plan to persuade them at the special general meeting of shareholders?
Wu Changjiang: Everyone is very clear and you have seen it. The board rejected me and NVC shares fell by half. From this point of view, all shareholders are dissatisfied with the board of directors, and small and medium shareholders support me. Their purpose is to make money. Only when I go back can I do a good job of the company in order to put the company on a normal track.
Reporter: Now the stock price fluctuates. From the equity structure, you are still the largest shareholder of NVC, because your shareholding is very close to Saifu, and they are all around 18%-19%. Will you maintain your status as a major shareholder and how do you maintain it?
Wu Changjiang: I am still a major shareholder. My primary task now is to stabilize the company's condition first, because people are distracted. This matter said that in my heart, it needs strength. I am very helpless now. I do not have any strength in him. He is holding other people's money and holding the investor's money. If I have two or three hundred million, I will win it. I do not have this strength. I am an entrepreneur. All my hard work and income are on NVC. I use my sincerity, my efforts, and my efforts so that all investors can clearly realize this. I hope they use the brain to vote instead of voting with their feet.
>> Talk about giving up at least to NVC. Find a good stepmother reporter: Have you ever thought of giving up? Because Nexus's board of directors did not make concessions even though employees, suppliers and distributors demanded your return.
Wu Changjiang: Who has the most feelings for NVC? No one can exceed me. Kai-fu Lee also told me to persuade me to give up. I can give up, but at least I must find a good stepmother and stepfather for NVC. Let me rest assured. Now all workers are not at ease, and all the small shareholders are not at ease. How do you say I give up? Someone else said that I hurt the company. I said it was my child. Just like parents, which parents are willing to hurt their children. I want to do my duty and do my best. I don't care about personal grudges. This is my child. I can't care. Although custody has been taken away from my hands, I will do my best to make it healthy and make it better.
>> Talk about reflection If you do not resign, there is no such thing. Reporter: Where is the root cause of NVC's turbulence? Is it the system or some link?
Wu Changjiang: This is not a system or management issue at all. If we have problems, it will not be possible to take the leading position in the industry today. This was inspired by accidental factors: They let me resign and said that when I got back, I sent me back to the board and let me manage the company. But when I came back, they always looked for reasons like this and rejected me. It was they who fooled me. I trust them too much. If I don't resign, there is no such thing. If you want to add sins, why do you have no words?
Reporter: Have you ever thought of making compromises with the board of directors?
Wu Changjiang: Actually I have been working hard and have been looking for them.
Reporter: What ideas do you have for introducing external capital in the future?
Wu Changjiang: NVC all these troubles are caused by the attraction of external capital. Advise entrepreneurs to be cautious when you need to introduce funds. I was so hasty at that time that the capital was difficult to think that there was money on it and it was not considered clearly. Everyone needs to communicate, communicate, and get along.
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