Hong-te Precision borrowed from shareholders

Xiao Qing December 7, Gem Issue Audit committee will be held in 2010 the 83rd Board of the Gem Issue Audit Committee working Conference, Audit Guangdong Hongda Precision Technology Co., Ltd. (hereinafter referred to as the Hong-special precision) Gem Board application. The company has been plagued by a shortage of funds since its inception, according to the report of the Hong-te precision IPO.　　In the first two rounds of capital increase and expansion of the company, there is a situation in which the shareholders of the company use their debt to the company for the increase of capital. If the company's first increase in capital, the company's controlling shareholders Guangdong million and Group Co., Ltd. (hereinafter referred to million and the group) to pay a total of HK $11 million, which to the limited company's borrowings of RMB 10.64 million, a discount of HK $10 million as a contribution. The company sponsors the southern cable of the total recognition of HK $1.375 million, in order to the limited loans of RMB 146.3 yuan, a discount of HK $1.375 million.　　In the second increase in capital, million and the group also to the company's borrowings of 8.512 million yuan, a discount of HK $8 million as a contribution. More interestingly, due to the uneven wealth between the shareholders, in the original promoter shareholder Zhaoqing Yu Feng Metal Spraying Co., Ltd. (hereinafter referred to as Yu Feng spraying) Limited financial resources, in order not to dilute its equity in the company, hung special precision learned "Lei Feng", unexpectedly free loans to Yufeng spraying, pay the Yufeng spraying,　　For the company to increase the share of capital.　　In this respect, there are senior sponsors of CIC told our correspondent, hung special precision replenishment process there are obvious flaws, which means that the company's internal control system is lax, the company IPO will have adverse effects. According to the Honte Precision IPO report, the company was initially disclosed by Foshan Shunde Southern Cable Industrial Co., Ltd. (hereinafter referred to as Southern cable), Yufeng spraying and Gold Shore Limited (hereinafter referred to as the Golden Shore Company), which was established in July 2003 with a registered capital of HK $12.5 million.　　August 9, 2004, Million and the group through the Yufeng spraying and southern cable transfer of HK $5 million capital contribution to become the company's new controlling shareholder. In October 2004 and July 2005, the company also carried out a third and fourth round of increase in the share capital, with a share of HK $40 million and HK $60 million respectively. In the above two replenishment process, Yu Feng spraying before and after four times in renminbi equivalent to HK $14.25 million to pay the amount of its contribution,　　The fourth time the increase of 7.8426 million yuan, a discount of HK $7.3708 million is derived from the company to provide interest-free loans, accounting for the above two after the company registered capital of 12.28%.　　It is worth mentioning that the company was founded at the beginning of the capital is scarce, at that time million and the southern cable to the Hong-te precision of the loans provided by the amount of up to 19.488 million yuan and 13.936 million yuan respectively. Nevertheless, the company still said, because the Yu Fung spraying capital strength is weak, its timely and complete payment of registered capital is very difficult, but if it has noLaw and other shareholders to increase capital, the proportion of its shares in the company will be diluted.　　In consideration of Yu Feng spraying is the company set up the earliest three shareholders, and the company's business development, growth made a contribution can not be neglected, the company's other shareholders unanimously agreed to Yufeng spraying to provide a certain financial support. April 28, 2006, the company convened a board of Trustees to consider the Yufeng spraying to provide interest-free loans, the amount of loans not exceeding 8 million yuan, the loan period of 3 years, from June 1, 2006 to May 31, 2009.　　July 10, 2006, the company to Yufeng spray to provide loans of 2.6 million yuan; July 12, 2006, the company to Yufeng spray to provide loans of 5.2426 million yuan, the total provision of loans of 7.8426 million yuan. "It is obvious that the large shareholder occupies the company's funds, which belong to the affiliated party's non-profit occupying company funds." Members of the Commission will certainly focus on this, and the company will have to do more explaining when it does.　　said the senior sponsor.　　In this respect, the Hong-te Precision explained that, at that time, the agreement that the loan for interest-free loan is million and group, Gold Shore Company, southern cable to Yufeng spraying a support, reflecting the interests of a transfer between shareholders. In addition to the company to pay large shareholders, there is also a related transaction between the Yufeng spraying.　　The report of the Hong-te Precision IPO shows that the related transactions between 2007 and 2009 were 740700, 2.0949 million and 3.741 million yuan respectively. Finally, in order to solve the company's IPO, the company took remedial measures after the worry. Yufeng spraying first of its holding company shares were stripped, its holding company 30% of the total amount of capital transfer to the Yao Fung economic and trade.　　After that, including the company general manager Zhang Jianxiong Three and the company has associated with the Yu Feng spraying shareholders also held the company's stake in the external transfer. Since then, the company also through the dividend, Yu Fung spraying the dividend returned to the company's borrowings, and the cost of capital occupancy.　　February 3, 2010, the company received a trade due to the above loans to meet the company's capital occupancy fee of 1.2626 million yuan.　　Insider assault shares it is worth mentioning that the company began to "reward" after the precise listing intention, and the company's internal personnel were also able to surprise the shares before the meeting. June 11, 2009, prior to the establishment of a joint-stock company in the overall change of the Hong-Foshan, the large Investment Consulting Co., Ltd. (hereinafter referred to as Shunde), respectively, by the million and the group holding companies 240,000 Hong Kong dollars, the economic and trade holding company 180,000 Hong Kong dollars, southern cable holding company HK $180,000 The transfer price is 1.62 yuan for each contribution amount, and the transfer value is 972,000 yuan.　　As of now, Shunde in the large holdings of Hong-te precision shares of 660,000 shares. Hong-Special Precision IPO report shows that Shunde in the major holding shareholder Churbicher company director, deputy general Manager, finance director and Secretary of the board, holding 90% shares of ShundeReport。 In the early days of the company's establishment, Chuby in the company, he said.　　In order to further encourage it, the company shareholders million and group, Yao Fung Economic and trade, southern cable will be part of the transfer of shares to the Chuby open holding of the large shunde. December 18, 2009, the Hong-te precision of the third capital to increase capital expansion shares. The company will increase the registered capital to 67 million yuan, the new registered capital of 1 million yuan by the Hong Kong Connaught Xin Limited (hereinafter referred to as Hong Kong Xin), the exchange rate in renminbi subscription, subscription price of only 1.5 yuan/share. The total price of the new registered capital is RMB 1.5056 million.　　Among them, RMB 1 million into the company's registered capital, the remaining RMB 505,600 yuan into the capital accumulation. The company's shareholders agreed to the new capital increase in Hong Kong, according to Hong-Lin Shaoping, taking into account the company's contribution to the company's development in the early days of its establishment.　　Lin Shaoping The company's experience in purchasing rules and technical requirements for auto parts in the early days of its establishment, giving a lot of constructive advice to the development of international clients.　　It emphasizes that Lin Shaoping has become a controlling shareholder and has played a decisive role in the rapid development of the company since then, and Lin Shaoping played a key role in the process. According to million and the group's business registration data, million and group by the Lu Ying, Luchulong, Luchupeng three brothers and Ye Yuanji to set up, Lu Ying, Luchulong, Luchupeng three brothers and Ye Yuanji hold million and group 45%, 25%, 15% and 15% of the equity.　　As at June 30, 2010, million and group total assets of 1,905,078,300 yuan, net assets of 47,564 530,000 Yuan, 2010 1-June main business income of 1,246,891,900 yuan, net profit of 43.0025 million yuan. Up to now, in addition to the holding of the Hong-precision Sprint gem, million and the group's Guangdong million and the New Electric Co., Ltd. also submitted to the CSRC on March 30, 2010 for the initial public offering of shares and the application materials in the SME board, and has been accepted. Before, million and new electric early that has the desire to list, and had backdoor sea country cast, after exit.