NVC Lighting (2222.HK, hereinafter referred to as NVC) announced that the board of its 11 subsidiaries is easy. Among the 11 subsidiaries, NVC founder Wu Changjiang no longer serves as the chairman, and is replaced by Wang Shilei, the current chairman of NVC, and Xiao Yu or Wang Dongming, the director.
The outside world is worried that NVC will have another infighting after the replacement of major shareholders for one and a half years. NVC's board secretary Tan Ying told the "First Financial Daily" reporter on July 15 that the personnel adjustment made the NVC subsidiary consistent with the board of directors at headquarters, which is conducive to strategic implementation and internal control. "Dr. No effect".
In December 2012, Wang Haolei’s Dehao Runda (002005.SZ) became the largest shareholder of NVC through the acquisition of NVC’s equity in Wu Changjiang’s hands. At the same time, Wu Changjiang became the second largest shareholder of Dehao Runda by subscribing to the shares issued by Dehao Runda. This not only completely calmed NVC's infighting, but also promoted the cooperation between DHL upstream chips and NVC's downstream channels, helping NVC to transform into LED lighting. This year, the relevant transaction was finally completed, Wang Donglei further increased the stake in NVC, and Wu Changjiang also successfully became the second largest shareholder of Dehao Runda.
The personnel division involved in this personnel adjustment covers several major production bases of NVC in Huizhou, Chongqing and Zhejiang, as well as NVC in the UK. Wu Changjiang not only retired as chairman but also no longer served as a director of these NVC subsidiaries.
Tan Ying said that the former directors of these NVC subsidiaries were mainly the management of NVC. After this personnel adjustment, the board of directors and the management layer will be separated, and each will perform its duties.
It is worth noting that, in addition to Wang Donglei, the chairman of NVC's major shareholder Dehao Runda, the representatives of two other major shareholders of NVC, Schneider's China President Zhu Hai and Softbank Safran Fund's partner Lin Heping, have also entered. The board of directors of several NVC core subsidiaries, including NVC Chongqing, Zhejiang, and Huizhou bases.
“Wu Changjiang’s shareholding in NVC is very small. After the completion of the share swap, it is no longer a major shareholder of NVC.†A NVC supplier believes that “this personnel adjustment is based on the equity of the listed companyâ€. After that, the governance structure also changed accordingly.
Currently, Wu Changjiang is the executive director and president of NVC. The above suppliers revealed that Wu Changjiang’s management rights in NVC have not changed. This year, NVC held a supplier conference, chaired by Wu Changjiang, and Wang Donglei did not intervene. "There are still divisions between the two."
The general manager of a NVC subsidiary said that although the chairman became Wang Donglei, Wu Changjiang was also the CEO and president of NVC, responsible for the daily operation and management of NVC. "This has not changed."
In fact, the industrial integration of Dehao Runda and NVC has increased this year. Tan Ying revealed that the first is the light source products of the joint brand of Leishi Dehao, which is sold in NVC channel. This year, the two sides have signed a sales cooperation framework agreement of 1 billion yuan. Second, NVC purchases the LED chips of Dehao more. “The amount in 2013 is very small and it is growing very fast nowâ€.
"General Wu has converted the shares into the shares of Dehao Runda. The interests of NVC and Dehao Runda are the same, and the upstream and downstream cooperation is smoother," said Eagle.
At the same time, Wu Changjiang also strengthened the penetration of Dehao Runda's operations. The backbone of several former NVC was transferred to Dehao Runda. For example, Xu Fengyun, the former vice president of channel dealers, is now the vice president of Dehao Runda. "Dehao did not know much about the terminal products before, and the backbone of NVC was in the past, forming a benign interaction." The above supplier said.
The outside world is worried that NVC will have another infighting after the replacement of major shareholders for one and a half years. NVC's board secretary Tan Ying told the "First Financial Daily" reporter on July 15 that the personnel adjustment made the NVC subsidiary consistent with the board of directors at headquarters, which is conducive to strategic implementation and internal control. "Dr. No effect".
In December 2012, Wang Haolei’s Dehao Runda (002005.SZ) became the largest shareholder of NVC through the acquisition of NVC’s equity in Wu Changjiang’s hands. At the same time, Wu Changjiang became the second largest shareholder of Dehao Runda by subscribing to the shares issued by Dehao Runda. This not only completely calmed NVC's infighting, but also promoted the cooperation between DHL upstream chips and NVC's downstream channels, helping NVC to transform into LED lighting. This year, the relevant transaction was finally completed, Wang Donglei further increased the stake in NVC, and Wu Changjiang also successfully became the second largest shareholder of Dehao Runda.
The personnel division involved in this personnel adjustment covers several major production bases of NVC in Huizhou, Chongqing and Zhejiang, as well as NVC in the UK. Wu Changjiang not only retired as chairman but also no longer served as a director of these NVC subsidiaries.
Tan Ying said that the former directors of these NVC subsidiaries were mainly the management of NVC. After this personnel adjustment, the board of directors and the management layer will be separated, and each will perform its duties.
It is worth noting that, in addition to Wang Donglei, the chairman of NVC's major shareholder Dehao Runda, the representatives of two other major shareholders of NVC, Schneider's China President Zhu Hai and Softbank Safran Fund's partner Lin Heping, have also entered. The board of directors of several NVC core subsidiaries, including NVC Chongqing, Zhejiang, and Huizhou bases.
“Wu Changjiang’s shareholding in NVC is very small. After the completion of the share swap, it is no longer a major shareholder of NVC.†A NVC supplier believes that “this personnel adjustment is based on the equity of the listed companyâ€. After that, the governance structure also changed accordingly.
Currently, Wu Changjiang is the executive director and president of NVC. The above suppliers revealed that Wu Changjiang’s management rights in NVC have not changed. This year, NVC held a supplier conference, chaired by Wu Changjiang, and Wang Donglei did not intervene. "There are still divisions between the two."
The general manager of a NVC subsidiary said that although the chairman became Wang Donglei, Wu Changjiang was also the CEO and president of NVC, responsible for the daily operation and management of NVC. "This has not changed."
In fact, the industrial integration of Dehao Runda and NVC has increased this year. Tan Ying revealed that the first is the light source products of the joint brand of Leishi Dehao, which is sold in NVC channel. This year, the two sides have signed a sales cooperation framework agreement of 1 billion yuan. Second, NVC purchases the LED chips of Dehao more. “The amount in 2013 is very small and it is growing very fast nowâ€.
"General Wu has converted the shares into the shares of Dehao Runda. The interests of NVC and Dehao Runda are the same, and the upstream and downstream cooperation is smoother," said Eagle.
At the same time, Wu Changjiang also strengthened the penetration of Dehao Runda's operations. The backbone of several former NVC was transferred to Dehao Runda. For example, Xu Fengyun, the former vice president of channel dealers, is now the vice president of Dehao Runda. "Dehao did not know much about the terminal products before, and the backbone of NVC was in the past, forming a benign interaction." The above supplier said.
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