East Soft Group Two shareholders liquidated 13 executives tax avoidance

Source: Internet
Author: User
Keywords Executives shareholders Neusoft
When the ban on shares of listed companies is lifted, shareholders who hold this part of the shares suddenly encounter mandatory liquidation, a strange thing happened in Neusoft Group (600718, closing price 14.06 yuan) and Dan Fu (002366, closing price of 17.63 yuan). March 21 Neusoft Group announced that the company's second largest shareholder Chengdu Hui Xu Technology Co., Ltd. (hereinafter referred to as Hui Xu Technology) is mandatory liquidation, its holdings of the Neusoft group 210 million shares will be transferred to 137 natural shareholders under the shares, including the Neusoft group of 13 senior executives.  "Daily economic news" reporter found that the application of Hui Xu Technology liquidation is precisely the 137 natural shareholders; In addition, Hui Xu Technology held 210 million shares of restricted shares on March 14 lifted.  March 19, Dan Fu shares also received the company's largest shareholder notice, these shareholders also decided to dissolve the corporate company, liquidation, and the five major shareholders of the 48.653 million shares are divided into the name of not less than 170 natural shareholders, this part of the cancellation time is also March 14. For the bizarre behavior of the two companies, industry analyst nail The Secret: "First is to avoid tax, the second is to facilitate reduction." "3 years of investment appreciation several times in the release of Hui Xu Technology liquidation notice, Neusoft also published a report on the change in equity. The daily economic news reporter in the report, including the company's chairman and chief executive Jiren, Hui Xu Technology legal representative Zhaohong, including the 13 executives are divided into millions of shareholder soft group shares.  Reporter calls the company inquiries, Dong secret office staff Zhaoxin admitted that this list is only part of the "because other shares of the company personnel are not senior executives, the company does not disclose obligations." Hui Xu Technology before the name Shenyanghui Xu. November 5, 2007, Shenyang Hui Xu and Warburg Trust signed the agreement on Equity transfer, access to Neusoft Group Co., Ltd. 23.41% Equity, Neusoft Group Co., Ltd., the capital contribution of Shenyang Hui Xu's contribution amount is 315 million yuan. March 14, 2008, the listed company Neusoft shares merged Neusoft Group Co., Ltd., the exchange rate of 1:3.5.  Shenyang Hui Xu to hold 90.0887 million shares of Neusoft, the lock-up period of 3 years, according to the original contribution, the cost of 3.49 yuan per share. Neusoft shares on June 11, 2008 renamed the current Neusoft group.  After the 2008.5 Annual report, the 2009 Annual report of the implementation of the distribution plan, Shenyang Hui Xu's shareholding quickly rose to 210 million shares, deducted two after tax dividend yield of 29.4139 million yuan, the cost per share down to 1.36 yuan, compared to the East soft group yesterday's closing price, this part of the shares have risen over several times. Dan Fu shares of 第三、五、七、八 major shareholders, long and company, Minjiang Company, Sichuan and Kanghai Company, a total of 172 shareholders. These shareholders are the original Sichuan dan Fu Refrigeration Compressor Limited Liability company employees, these shares per share costOnly 5.02 yuan, compared with the closing price of yesterday's shares, also appreciated 2.5 times times.  Two unrelated companies, in the same context of the same changes in their rights and interests, what is the mystery?  Analyst: Liquidation is usually for tax avoidance, the application for mandatory liquidation are creditors, however, "Daily economic news" reporter read Hui Xu Technology of the electronic files found that the application of the implementation of the person is the Hui Xu Technology 137 Natural shareholders; the instrument takes effect March 15, on the day after the lifting of the restricted shares of the Neusoft group. Restricted shares are already available for circulation, and investments have risen sharply, why are shareholders demanding a mandatory liquidation of the company? In this respect, an analyst at the Datong Securities revealed the reason: "There are two purposes to do so, the first is to avoid tax, followed by convenient reduction." "According to the current tax rules, Hui Xu technology in the reduction of East Soft group shares to obtain income, the need to pay 25% of the enterprise income tax, and then to the individual shareholders in the distribution of profits also need to pay 20% of personal income tax." "Now they are sharing shares in their shareholders ' personal accounts, and they only need to pay 20% per cent of their personal income tax." "This almost saves billions of dollars in taxes," explains Hu Yanhua, a Chengdu-China and accounting firm. "And according to the" listed companies to lift the stock transfer of shares of limited share of the guidance, "Hui Xu Technology held after the lifting of the stock to be in the two-level market selling, according to the provisions of one months can only sell 1%, more than this amount should be transferred through the Exchange bulk trading system, but "After sharing, executives may still be constrained, but it is much easier for others to reduce their holdings," the analyst said. "Company: Liquidation and tax avoidance, reduction of the said, the East soft group Dong Zhaoxin staff to deny, but said not clear Hui Xu Technology why the mandatory liquidation; Hui Xu Technology, Mr. Rong explained:" Our company's registered business scope is computer hardware and software research and development, technical advice, technical services, if continue to do, Will compete with the listed companies. In addition, the company did encounter problems, there is no way to continue to operate, so only applied for mandatory liquidation. "He denied that the liquidation is to avoid tax and facilitate the reduction of the liquidation time and the ban on restricted stocks so close to the time, only said:" Just coincidence. "The five companies themselves are corporate, and if they continue to exist, they need to pay a variety of taxes, so they will be liquidated," said Mr. Wu, a securities representative at Dan Fu, who returned to the daily economic news. We all walked the normal procedure, not the compulsory liquidation. "The 5 companies were dissolved by their shareholders ' approval," he said in a statement from Dan Fu.
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