rouletteonlinebonus| The original controller of Meizhi shares is prosecuted again!

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The original controller of this A-share company was sued again!

The contradiction between Meizhi shares (002856) and Li Suhua, the former controller, has intensified again.

On the evening of May 16, Meizhi shares announced that because Li Suhua failed to fulfill his promise to buy back 30% of the shares of Guangdong Wanxiang Weijing Construction Engineering Development Co., Ltd. (hereinafter referred to as "Wanxiang Weijing"), the company filed a lawsuit with the people's Court of Nanshan District of Shenzhen City in March 2024, and recently received a subpoena from the court, involving about 6128 yuan.Rouletteonlinebonus.50,000 yuan. Up to now, the case is in the stage of pre-litigation mediation and has not yet been heard.

In addition to the above-mentioned lawsuit, Li Suhua is also involved in another lawsuit related to Meizhi shares.

A month ago, Meizhi shares announced that the current controlling shareholder Guangdong Yijian Equity Investment Partnership (Limited Partnership) (hereinafter referred to as "Guangdong Yijian") had filed a lawsuit against Li Suhua. The latter is required to fulfill the performance compensation promise made when transferring control in 2020, with a total amount of 4. 5%.Rouletteonlinebonus23 billion yuan, of which the performance compensation to listed companies is 348 million yuan.

In retrospect, Meizhi first bought 15% of Wanxiang Weijing for 30 million yuan in October 2019. In order to further strengthen cooperation, the company decided to make an additional investment in December of that year and bought another 15% equity stake in Wanxiang Weijing with 30 million yuan, with a cumulative investment of 60 million yuan. In order to avoid investment risks, Li Suhua, the then real controller, promised that if the subsequent operation of Wanxiang Weijing failed to meet expectations or the total gross profit of the subcontracted project given to the company within three years did not exceed 60 million yuan, Meizhi shares could require Li Suhua to buy back all the shares held by the company at cost.

From 2020 to 2023, Wanxiang Weijing suffered a cumulative loss, its performance fell short of expectations, and the total gross profit of the project subcontracted to the company within three years did not exceed 60 million yuan, triggering Li Suhua's buyback commitment. According to the 2023 annual report, the aforementioned commitments are in a state of overdue non-performance. After fruitless negotiations, Meizhi shares filed a lawsuit in court, asking Li Suhua to buy back 30 per cent of Wanxiang Weijing for 60 million yuan, while paying the overdue interest loss of 1.285 million yuan.

It is worth mentioning that, in addition to the above-mentioned buyback commitments, there is a larger amount of performance compensation commitments to be fulfilled by Li Suhua.

At the end of 2020, Li Suhua and Shanghai Tianzhi, under his control, transferred 29.99% of Meizhi's shares to Guangdong Yijian by agreement, and gave up the voting rights of the remaining shares. After the completion of the transaction, Guangdong Yijian became the new controlling shareholder, and Foshan Nanhai State-owned assets Supervision and Administration Bureau became the actual controller of the listed company.

In the share transfer agreement, Li Suhua promised that Meizhi's original business would remain profitable in 2020, and that its cumulative non-net profit would not be less than 40 million yuan from 2021 to 2023; at the same time, the total amount of new winning contracts for the original business from 2021 to 2023 would not be less than 1.8 billion yuan. In terms of accounts receivable, Li Suhua promised that 80% of the net accounts receivable of Meizhi shares as of December 31, 2020 should be collected by December 31, 2025.

Over the past three years, Meizhi shares have suffered continuous losses and failed to meet their performance commitments. In mid-April, the company received a letter that Guangdong Yijian had filed a lawsuit against Li Suhua, requesting the court to order Li Suhua to pay 348 million yuan in performance compensation and related interest losses to the company, and 74.9749 million yuan in liquidated damages to Guangdong Yijian. So far, the case has not yet been heard.

However, in Li Suhua's view, the main responsibility for the substandard performance of Meizhi shares lies with Guangdong Yijian.

At the end of April this year, Li Suhua issued an objection statement to the company's annual report, saying that the annual report did not give a reasonable explanation and reason for the reasons for the substantial losses, the attribution of responsibility, the solutions and measures. (Nanhai District of Foshan City) State assets failed to give the company 6 billion of its engineering business in 2021-2023 as promised, which is one of the main reasons for the company's performance losses. In addition, Guangdong Yijian changed the company's core management team at will in violation of the acquisition agreement, and still replaced the general manager of Meizhi shares despite its strong opposition, which led to management instability and had a significant adverse impact on the development of the company's original business.RouletteonlinebonusHe believes that without changing the core management team, the company can achieve its target performance in 2021, 2022 and 2023.

Meizhi shares, Guangdong Yijian and Li Suhua dispute between the follow-up trend, the Securities Times e company reporters will continue to pay attention.