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Caijing Capital Market News On the evening of January 4, Jiangsu Baoli International Investment Co., Ltd. (hereinafter “Poly International”) issued four announcements stating that Zhou Dehong, the controlling majority shareholder royal and president of Baoli International, was suspected of bribery by the company. After being criminally arrested by the inspection agency, the company held a board of directors to elect Zhou Wenbin, son of Zhou Dehong, as the new president.
Baoli International announced that the company’s board of directors received a written resignation report from the company’s president, Zhou Dehong. Mr. Zhou Dehong requested the resignation of the company’s fifth board of directors, director and chairman of the strategy committee for personal reasons. After resignation, Zhou Dehong no longer For any position in the company, his resignation will not affect the normal operation of company-related work. Additionally, Baoli International has also received a notification from Zhou Dehong’s family that prosecutors have placed Zhou Dehong in mandatory criminal detention on suspicion of bribery by the unit, and the related matters are still subject to further investigation.
As of January 4, Zhou Dehong owned 282 million shares of Baoli International, representing 30.65% of the company’s total share capital, and he remained the majority shareholder and actual controller of the company.
In addition, Baoli International also held an interim meeting of the board of directors today. The five directors present agreed to elect the company’s vice president and general manager, Zhou Wenbin, as the new president of the company, and will complete the legal representative’s industrial and commercial change record as soon as possible.
Zhou Wenbin was born in June 1992, the son of Zhou Dehong, and graduated from the University of Illinois in the United States with a minor in economics. In April 2017, Zhou Wenbin joined Baoli International as Deputy Managing Director and has formally served as the company’s Managing Director since January 2018. He is currently fully responsible for Baoli day-to-day production, operation and management decision-making. International, but does not occupy the position. Have shares of the company.
Baoli International further announced that the resignation of Zhou Dehong will not cause the company’s board of directors to fall below the legal minimum number, nor will it affect the normal functioning of the company’s board of directors, nor will it affect the company’s production and operation; the appointment of Zhou Wenbin as president of the company belongs to the normal administration of the company. The alternation of competences favors the continuous promotion of the professionalization of the corporate governance model and the sustainable development of the company.
According to data from Oriental Wealth Client, Baoli International is a company specialized in the production of various products of the road compound modified asphalt series. It was established in 2002 and listed on the Shenzhen Stock Exchange growth business market in October 2010. At present, Baoli International has 14 portfolio subsidiaries, including 6 asphalt production subsidiaries, 1 investment subsidiary BT Road and bridges, 1 domestic asphalt trade subsidiary, 2 foreign trade and investment companies and 2 aviation equipment subsidiaries. 1 leasing company, 1 new energy company.
At today’s close, Baoli International reported 2.60 yuan per share, with a total market value of 2.396 billion yuan. The highest share price in the history of catering reached 17.10 yuan per share (May 28, 2015). Compared to today’s point of view, the market value has fallen by almost 85% in more than five years.
