US equity transfer "Fog"

US equity transfer "Fog" Company's original second largest shareholder in the mine branch light shares 20 months after the "0" premium to the form of debt-equity withdrawal; The company's third largest shareholder Shenzhen Public Easy Industrial Co. It is noteworthy that the company's second largest shareholder (shareholding 30%) Xuzhou China Mining Branch Light Electromechanical Technology Co., Ltd. shares 20 months after the "0" premium, the debt to the form of equity withdrawal; The company's third largest shareholder Shenzhen Industrial Co., Ltd. before the listing of the abolition of the gambling agreement, was questioned as "hide"-　　When the project is fully produced, PE can be set up. Shareholders ' recurrent prospectus shows that March 21, 2005 US predecessor Xuzhou Inn Special Vehicles Co., Ltd. (hereinafter referred to as Inn) is a Sino-foreign joint venture, registered capital of 2.1 million U.S. dollars.　　The shareholder of Jiangsu Institute of Electrical and Mechanical Research Co., Ltd. (hereinafter referred to as the Electrical and Mechanical company) funded 630,000 U.S. dollars, PGI $1.47 million, of which PGI invested in intangible assets of 600,000 U.S. dollars. According to the China Economic Times reporter investigation, electrical and mechanical companies, PGI Company signed on December 20, 2004 Inn Limited joint venture contract and articles of agreement, electromechanical companies in the approval of the certificate within 30 days after the full investment in place, PGI company in the approval of the certificate within 30 days in place 500,000 U.S. dollars,　　The remaining 370,000 dollars are in place by the end of June 2006. But the prospectus shows that as of May 20, 2005, the company received only 250,000 U.S. dollars from the registered capital of PGI.　　The remaining 250,000 dollar registration fee, PGI before June 30, 2005.　　Electromechanical companies are more sluggish until October 26, 2005 to pay 630,000 dollars in registered capital.　　The investment of electromechanical company has been repeated. According to the joint venture contract signed by the electromechanical company and PGI in December 2004, the mechanical and electrical company paid $630,000 in cash, however Xuzhou foreign trade and Economic Cooperation Bureau on August 5, 2005 made the reply to the change of capital contribution of Xuzhou Inn Special Vehicles Co., Ltd.　　Agreed to inn the Chinese investors registered capital of 630,000 U.S. dollars in the form of cash investment into housing funding.　　October 26, 2005 electrical and mechanical companies have arbitrarily changed the way of investment, in cash 630,000 U.S. dollars to pay the registered capital. Inn is only a company with a foreign cash contribution of $500,000, "if that is the case, Inn is only a shell company, because it is not enough to buy production equipment."　　"The sales director of a certain industry company said in an interview with the China Economic Times reporter. The original second largest shareholder "0 premium" exit according to the National Development and Reform Commission May 21, 2004 issued the "Auto industry policy", "special-purpose vehicle production enterprises registered capital must not be less than 20 million yuan", "automotive vehicles, special vehicles, agricultural vehicles and motorcycles Sino-foreign joint venture production enterprises share ratioshall not be less than 50% ", as the Inn established when the registered capital is 2.1 million U.S. dollars, foreign shareholders 70%, so the introduction of Chinese investors, so that the company's registered capital and Chinese shareholding ratio to meet policy requirements.　　Therefore, us in December 2005, the introduction of Coguan as shareholders, the increase of 900,000 U.S. dollars, holding 30% equity, after the first major shareholder PGI (shareholding 49%), mechanical and electrical companies held a dilution of the shares of 21%.　　After 20 months, US ushered in a second equity change-the second largest shareholder "0 premium" exit, and debt to withdraw the form of equity.　　The prospectus shows that us on June 28, 2007 to make a resolution of the Board of Directors, agreed that the Coguan will hold 30% of the shares transferred to the electromechanical companies, the same day the transfer of shares signed the agreement on Investment transfer. According to the Sino-mining Branch Light and electromechanical company's "debt satisfaction agreement", electrical and mechanical companies as at June 27, 2007, has paid the Coguan 7.23 million yuan to compensate for this equity transfer price, to settle the debt between the two sides.　　At the same time, the Director Wang Xiuyuan Director of the Coguan appointed by China Mining office is exempted. "It is inconceivable that the second largest shareholder should be withdrawn in such a way.　　"The head of an investment company in Beijing told the China Economic Times reporter.　　US said that July 2007, due to the industry understanding, product understanding of the inconsistency, electromechanical companies and Coguan about the company's future development strategy and direction of divergence, in the mine Coguan with its own US shares transferred to the electromechanical company.　　It is noteworthy that, in the above-mentioned debt-equity transactions, US said that Coguan, although the company has been shareholders, but with the company and the controlling shareholder, the actual controller does not exist related or other interests arrangements. "There is a huge debt relationship between the second largest shareholder and the third largest shareholder, and us denies that there are related transactions," he said.　　Said the head of an investment company in Beijing.　　Temporary revocation of the "bet" prospectus showed that us in 2008 8, 9 and October, the introduction of Nanjing Sunrise Investment Co., Ltd., Jiangsu Times Investment and Development Group Co., Ltd., Shenzhen Chung Yi Industrial Co., Ltd. three new shareholders to increase capital.　　July 2009, US again to increase the share of capital, attracting the old shareholders Nanjing Dawn, Jiangsu Times and the new shareholder Xuzhou State Rui Machinery Co., Ltd., Shenzhen Mayor Run Investment Management Co., Ltd. and Jinjiang Hongqiao Venture Capital Co., Ltd. "Chung Yi Industry failed to participate in the second issue, and the holding cost is higher than the early-held Nanjing morning and Jiangsu Times, this is because the public and the company before the listing and the companies signed a gambling agreement."　　"said the head of an investment company in Beijing.　　US in 2008 after the financing, increased financial strength, the company uses its own funds and bank loans, rapid expansion of capacity, according to the company planning new capacity will be released in November 2011. In fact, the project has been started for more than 1 years. As of December 31, 2010, the company has invested a self-financing 73.3249 million yuan for intelligent aerial work vehicle technical renovation project. One of the basic projects has been completed by Jiangsu ProvinceOne Construction Installation Co., Ltd. contracted the construction project of the above reconstruction projects, the completion date of the project is August 31, 2011. This shows that us this year's annual report and 2012 quarterly results will show an explosion of growth, at this time just for PE shareholders lifted the ban.