Xun Xing Shares Real Controller Was Arrested, Nearly 40 Thousand Shareholders Holding This Zipper King Lost 600 Million Last Year

Fujian Xun Xing zipper Polytron Technologies Inc (hereinafter referred to as "Xun Xing share") announced in the evening of August 11th that the company received the company's actual controller and former chairman Wang Lijun's family members in August 10th, and Wang Lijun was arrested by the Chongqing Municipal Public Security Bureau for the suspicion of insider trading.

Wang Lijun resigned in August 5, 2019 and no longer holds any position in the company. In August 5th, the director of the company elected Ms. Du Huijuan, director of the board of directors, to perform the duties of chairman and legal representative. The board of directors of the company will complete relevant follow-up work as soon as possible, such as by election of directors and chairman of board of directors.

Statistics show that Wang Lijun, born in July 1972, Chinese nationality, has no overseas permanent residency and has a bachelor's degree. He worked in the Tangshan branch of China Construction Bank. She served as executive director of Tianjin East earth gold Co., Ltd., director of Golden East (Singapore) Pte.Ltd, director of Shenzhen price chain cross-border electric business Co., Ltd.

Du Huijuan was born in December 1982. He has Chinese nationality and has no permanent residence right abroad. He has a bachelor's degree and intermediate accountant. He was the accountant of Tangshan City first cement plant, accounting and finance manager of Zhao Yu special steel company of Qingquan group, financial manager of Tangshan Xingsheng yuan Insurance Agency Co., Ltd., and financial manager of Shanghai Xingwei Software Technology Development Co., Ltd. Currently, the chief financial officer of Shenzhen price chain cross-border electric business Co., Ltd. was appointed by Polytron Technologies Inc Xun Xing zipper Polytron Technologies Inc in August 5th as the acting chairman and the legal representative.

Looking back in November 2016, the "zipper king" Xun Xing shares, which has been listed for nearly 10 years, announced that it would transfer 89 million 500 thousand shares of Xun Xing shares to 2 billion 500 million yuan, with a contract of 27.9 yuan each, which was 2.2 times the closing price of Xun Xing shares before the suspension, and the premium rate was 120%. After the transfer was completed, Wang Lijun became the actual controller of the company.

After entering Xun Xing shares, Wang Lijun's control of Xun Xing shares made a price of 1 billion 14 million yuan, and completed the acquisition of 65% stake of 21 shareholders held by Gan Gan couples and other 21 shareholders. The price chain was founded in 2008, mainly cross-border business services. But only a year after the takeover, Xun Xing shares fell into a huge loss of performance.

At the time of takeover, the price chain promised net profit from 2017 to 2019 not less than 100 million yuan, 160 million yuan and 250 million yuan respectively, but the performance commitment of the price chain was not realized in the year of completion of the acquisition. Xunxing shares pointed out in October 9, 2018 that the price of the chain was 96 million 869 thousand and 600 yuan in 2017, and the performance commitments were not fulfilled; a significant loss in the first half of 2018, a net profit of -1907.58 million yuan, and a continuous deterioration of the operating condition, and the promised performance was impossible.

According to the financial report, in 2018, Xun Xing shares achieved a business income of 2 billion 272 million yuan, an increase of 22.18% over the same period, accounting for a loss of 649 million yuan attributable to shareholders of listed companies, a decrease of 646.02% over the same period last year. The reason for the decline in performance is that the performance of the chain's cross-border electricity supplier limited by Shenzhen price is much lower than the performance pledge, and the impact of assets impairment such as goodwill is also mentioned.

Public information shows that Xun Xing shares specializes in R & D, production and sales of zippers, precision molds, metal and plastic stamped castings, and is a leading enterprise in the domestic zipper industry. The company has five production bases in Fujian, Shanghai, Tianjin, Chengdu and Dongguan. It is the largest zipper manufacturer with the largest variety and the most complete specifications in the country. The SBS brand enjoys high reputation in the industry, and its products are exported to more than 70 countries and regions in Europe, America, middle East, Africa and Southeast Asia.

Reporters access to information was informed that as of the end of the first quarter of 2019, the number of shareholders of Xun Hing shares reached 39 thousand and 400, an increase of 658 compared with the previous period, an increase of 1.69%, an average of 9064.44 shares per household.