St Bailey (603959), which has dropped the limit of 15 consecutive "one word", issued an announcement of the resignation of the chairman and the election of a new chairman of the board.
On the evening of May 24th, ST Benefo announced that the board of directors recently received an application for resignation from the family of Chairman Wang Hairong. Wang Hairong could not perform his duties normally because he assisted relevant departments in the investigation. In order to ensure the smooth development of the company's business, he applied to resign as chairman.
At the same time, the company held the 51st meeting of the fourth board of directors on May 24, 2024, and examined and adopted the "motion on electing the chairman of the fourth board of directors of the company". All the directors unanimously agreed to elect Wang Liyan as chairman of the fourth board of directors of the company for a term from the deliberation and adoption of the board of directors to the expiration of the fourth session of the board of directors. After the company appointed a new chairman, Xiao Liming, vice chairman of the company, will no longer act as chairman of the company.
Wang Liyan's resume information shows that he was born in 1962, is of Chinese nationality, has permanent residence in Singapore, and is a senior engineer with a master's degree from Nanyang technological University in Singapore. He has served as an engineer of CNPC (601857) Natural Gas Pipeline Design Institute and president of Southern Branch, a director and general manager of RH International Pte Ltd, a director and chief operating officer of RH Energy, a supervisor of Bailey Co., Ltd., a director and acting president of Benefo Technology (603959), an investment manager of Haixin, a quantum director of Qingdao Lanshui, a director of Hengyuan Huida, a director of Lu Baoxinghai, a chairman of Shanghai Baikun, etc.
In fact, at present, the actual control of ST is Wang Hairong and Wang Liyan. In February this year, St Bailey revealed that Wang Hairong, one of the real controllers, assisted the relevant departments in the investigation and urgently "changed the commander."
On the evening of February 19th, ST Bailey announced that it had received notice from the family of Wang Hairong, the company's controller, chairman and president, that Wang Hairong needed to assist relevant departments to investigate for personal reasons and was temporarily unable to perform his duties normally. As of the date of disclosure of the announcement, Bailey Technology has not been aware of the progress and conclusions of the relevant investigation.
In this context, the board of directors elected and authorized that during the period when Wang Hairong could not normally perform the duties of chairman, legal representative and president, Xiao Liming, the current vice chairman of the company, performed the duties of chairman and legal representative of the company and members of relevant committees of the board of directors, and Wang Liyan, one of the actual controllers of the company, performed the duties of president of the company on his behalf.
This means that Wang Ronghai, who has been unable to perform his duties for months, finally chose to resign as chairman. According to the data, Wang Hairong was born in 1969 and has more than 20 years of experience in the oil and petrochemical energy industry.CasinomadamedestinymegawaysHe was the project manager of Qinghai Oil Field Administration of China National Petroleum Corporation, the chairman of Wuhan Refining and Chemical Engineering Design Co., Ltd., the chairman of Qingdao Lanshui Quantum Technology Development Co., Ltd., and the director of Changzhou Baili Lithium Wisdom Factory Co., Ltd.
On the evening of April 29th this year, the 2023 annual report released by ST Bailey showed that the operating income in 2023 was 2.069 billion yuan, down 35.74 percent from the same period last year, of which petrochemical design income was 138 million yuan, lithium electricity intelligent production line and equipment sales income was 1.09 billion yuan, and lithium power plate project total contract income was 825 million yuan. The net profit of homing was-118 million yuan, down 1473.54% from the same period last year.
At the same time, the auditor Dahua Accounting firm issued an audit report with reservations on the company's 2023 annual report and a negative opinion on the company's internal control, saying that Bailey Technology had made a total advance payment of 196 million yuan by the end of 2023. Audit institutions are unable to obtain sufficient and appropriate audit evidence to judge the nature, commercial rationality and recoverability of large capital transactions. Based on this, the auditor is unable to determine the impact of the above advance payment on the financial position and operating results of Bailey Technology Company during the reporting period.
Due to the negative opinion of the internal control audit report issued by the accounting firm, according to the relevant regulations, Bailey Technology shares were suspended for one day on April 30, 2024 and resumed trading on May 6 and was implemented.CasinomadamedestinymegawaysHe warned of risks and became St shares with stars and hats.
The exchange also sent inquiry letters overnight. On the evening of April 29, the exchange issued a regulatory inquiry to Bailey Technology, requiring Bailey Technology to provide a written response to non-standard opinions, board deliberations and the performance of independent directors within five trading days.
From the perspective of the secondary market, St Bailey continues to be abandoned by funds. Since the opening of the market on May 6, ST Benefo has fallen by its daily limit for 15 consecutive trading days, and its share price has fallen from 4.30 yuan to the latest closing price of 2 yuan.
Recently, ST Bailey has issued several announcements of abnormal stock price fluctuations and warned of risks. On May 21, the company announced, first of all, the risk of trading in the secondary market, the company's shares from May 8, 2024 to May 21, 2024.CasinomadamedestinymegawaysThe abnormal fluctuation in the same direction occurred four times in 10 consecutive trading days, in which the cumulative deviation value of the closing price was more than 12% in three consecutive trading days, which belonged to the case of serious abnormal volatility in stock trading.
Secondly, the operating performance risk, the company's net profit in 2023 is-118 million yuan, deducting non-net profit is-256 million yuan; the net profit in the first quarter is-84.0855 million yuan, deducting non-net profit-84.1494 million yuan.
In addition, it also includes the risk that the stock is subject to other risk warnings, the risk that Mr. Wang Hairong, one of the actual controllers, is temporarily unable to perform his duties, and the risk of pledge by the controlling shareholder. As of May 21, the company's controlling shareholder Xizang Xinhai New Venture Capital Co., Ltd. held 146114350 shares of the company, accounting for 29.80% of the company's total share capital. The total number of shares pledged by the controlling shareholder is 116645200.CasinomadamedestinymegawaysAccounting for 79.83% of the total number of shares held; the total number of shares that the controlling shareholders have been judicially marked and frozen is 146114350 shares, accounting for 100% of the total number of shares held by them.