Jiangsu Asia Granville Asset Transfer does not assess the disposal of state-owned

Granville shares suspected misappropriation of huge national capital since the scenic mountains and rivers suspected of fraudulent listing, many of the listed enterprises IPO process has attracted attention. February 23, plans to issue 22 million shares of Jiangsu Granville Machine Tool Co., Ltd. (abbreviation: Granville shares of the stock code: 002559) began to purchase.　　However, because of the alleged misappropriation of large state-owned assets, Jiangsu Granville Machine Tool Co., Ltd. has been questioned by all walks of life, many people suggest that the Department of the company to conceal the loss of state capital and other conduct investigation, and suspend its listing eligibility.　　Asset transfer does not assess the disposal of the state-owned assets of a lawyer Zhu Dedong that the Jiangdou people's government to 1999 years of assessment as the basis for the 2002 equity transfer, violating a series of provisions. Jiangsu Ya Wei Machine Tool Co., Ltd. originated in the 50 's the original state-owned Jiangdu machine tool Factory, is the original Machinery ministry fixed-point engaged in forging machinery manufacturing state level two enterprises, but also one of the earliest forging manufacturing enterprises.　　1994, the original state-owned Jiangdu machine tool factory changed to Jiangsu Ya Wei machine tool group. 1999, the Jiangsu Sunway Machine Tool Group company carried on the first property right system reform, the evaluation base date is October 31, 1999, the net Assets appraisal value is 24.18 million yuan. After the approved stripping of the allocation of land use rights of 7.9951 million yuan and the cost of restructuring total 7.502 million yuan, the remaining net assets of 8.683 million yuan.　　December 22, 1999, the Jiangdou government approved the restructuring of the Asia-Granville Group, the formation of Jiangsu Ya-wei machine tool Co. 2002, Granville Limited carried out two times to deepen restructuring, the state-owned shares of the East Asia Granville Group held by its 65% stake, that is, 8.683 million yuan to transfer to the Jisukin and other 29 people and Granville limited trade unions. The evaluation of the use of the state-owned equity transfer was the first time the October 1999 Assessment Report, the transfer price is also the original value of 8.683 million yuan.　　At this point, Granville Limited from the state-owned corporate holdings of the company into a natural person holding company, "National retreat DPP" completed. In response, the company's share prospectus impressively wrote: "In view of the 2000 Granville Limited set up when the assets of the Sub-Granville Group to contribute to the asset has been assessed, and the 2000 and 2001, the limited audited net assets changes are not small, the Jiangdou people's government decided, 2002 Sub-Granville group transfer of equity to 1999 years of evaluation results (that is, the original contribution) as the basis for the valuation, no further assessment, the transfer price is determined to 8.683 million yuan, by the transferee to pay in installments. In this regard, Jiangsu Suyuan law firm deputy director, a class of lawyers Zhu Dedong that the Jiangdou People's government 1999 years of assessment as the basis for the 2002 equity transfer, violating a series of provisions. First, according to the State Council order 91st "state-owned Assets assessment management measures", the sub-Granville group transfer its state-owned shares, must be evaluated, according to the state-owned assets of the "1992" 36th "state-owned asset assessment management measures," the implementation of the provisions of article 36th, evaluation reportThe base date is valid for one year. Therefore, in 2002, when the group transferred its state-owned shares, the valuation was based on the failure of the assessment report, so it can be said that the transfer has not been assessed, violates the provisions of the administrative regulations. Second, according to the Su Office (1996) The 90th article "on Jiangsu Province state-owned property transfer management interim provisions notice" 13th, the transfer of the state-owned property in which the evaluation value is more than 2 million yuan must be approved by the municipal state-owned Assets Management Department of the District, after the approval of the corresponding people's government. The transfer, even according to the 1999 assessment Report, the evaluation value of 8.683 million yuan, also more than 2 million yuan.　　And this transfer is only approved by the municipal Jiangdou People's government, violating the provisions of the notice, belong to ultra vires behavior. Zhu Dedong further pointed out that the transfer of state-owned property rights should not be considered as invalid because of no statutory evaluation, so the transfer of state-owned property rights of the 2002-year period shall be void from the date of its establishment and not produce legal effect.　　If the transferee is willing to use the 2002 evaluation as the basis for the assignment, the agreement should be renewed with the result of the assessment, and the act of contractual payment should be clearly liable, thereby avoiding improper loss of state-owned assets. The local government sees nothing amiss in the face of the illegal behavior of assets that are not assessed or transferred. But the lawyers and sponsors of this issue believe that there are serious flaws in the transfer of shares. Distributor lawyer Jiangsu Taihe law firm believes that, according to the relevant laws and regulations, the transfer of state-owned shares to perform the corresponding asset evaluation procedures. May 2002 Granville Limited state-owned equity transfer did not perform the assets evaluation procedure, there are some flaws in the procedure. The issue sponsor Everbright Securities (16.10,0.43,2.74%) Co., Ltd. is that the 2002 Granville Limited state-owned equity transfer failed to perform the asset evaluation procedure, there are flaws in the procedure, but has been Jiangdou people's government, Jiangsu provincial People's government confirmed that,　　There is no dispute or potential dispute over the transfer of the State equity. In response to the prospectus "2000 and 2001, the limited audit of the net assets of the financial change is not significant" this expression, "economic reference" reporter interviewed the shares of the Granville. The company said in a written reply that "We do not consider it necessary to explain the reasons for the small changes in assets in 2000 and 2001".　　The reporter also on the Granville limited related issues call Jiangdou Mayor Wang Bingsong, the answer is he just arrived Jiangdou work for a year or two, not clear these circumstances. According to the reporter access to relevant data found that from the beginning of this century, with the advent of a new round of economic boom cycle and years of accumulation, the Chinese machine tool industry began to recover gradually.　　Granville machine tools in 2000 and 2001 also achieved great strides: The end of 2001, will have the market capacity and development prospects of the CNC bending, Shearing series products to implement a joint venture with Switzerland, the formation of Jiangsu Aveipte Forging Machine Tool Co., Ltd., Granville products in the domestic market share achieved doubled. Transfer of shares to pay the serious loss of state-owned assets JiangdouThe government has the "foresight" ability, in 2002 when the state-owned equity transfer to infer that the three-year shares of the company will be able to complete the business objectives, and in advance identified the bonus plate? Why is the amount of handsomely the remaining unpaid equity transfer? Why should the incentive funds of the operating level be able to offset the equity transfer?　　With the in-depth interview, the "Economic reference newspaper" reporter found: the "DPP" the transfer of shares of the "country retreat" is actually up to 6 years, the state-owned assets have been occupied for a long time. 2002, Granville Limited two times to deepen the restructuring of the transfer to the Jisukin and other 29 people and Granville Limited trade union 8.683 million yuan state-owned equity transfer price, is "so" phased in place: one, of which 3.06 million yuan, by the Granville Limited management layer and technical backbone in May 2002- January 2003 by cash payment; second, the Jiangdou Finance Bureau approved May 30, 2002, agreed to the company with "two gold balance" 2.785 million yuan quantified to the company's technical backbone and the company's trade unions, "two gold balance" to pay 2.785 million yuan; The remaining 2.838 million yuan shall be offset by the company's operating level in the case of an award due under the Government's 2002-2005 operating target. This should be May 2002 to the account of the 2.838 million Yuan equity transfer has been dragged to four years later in April 2006, the Jiangdou Enterprise Reform leadership Group Office issued "on the Jiangsu Jisukin Machine Tool Co., Ltd. and other comrades to reward the reply",　　Agreed to Jisukin and other comrades to give 2.838 million yuan reward, for the 2002 by the state-owned shares to deal with the transfer price of 2.838 million yuan. On this obvious problem of the transfer of shares, the community has questioned, the focus is: do Jiangdou government has the "foresight" ability, in 2002 when the transfer of state-owned shares in the three years to infer that the company will certainly be able to complete the business objectives, and in advance identified the bonus plate?　　Why is the amount of handsomely just the remaining unpaid equity transfer? How can the incentive fund for the business level be able to offset the transfer of equity? 2008, the shares of the company to be listed on the eve of the history of the issue to the Jiangsu provincial Sasac was questioned. Sasac in Jiangsu Province believes that there are flaws in the way awards are paid for equity transfers. July 2008, the company's operating layer will be 2.838 million yuan equity transfer price to the Jiangdou Finance Bureau, a state-owned equity transfer after more than 6 years tortuous "back".　　Some people have questioned: such a serious issue of equity transfer until the company sought to go public only to be found by the relevant departments, if the enterprise does not seek to market not to escape the transfer of money? Why has the department been blind to the situation? A professor at Nanjing University, who declined to be named, pointed out that although the SASAC had discovered the issue of equity transfer, it had not fundamentally solved the problem, but it had only dealt with the issue by making up for the transfer. Since from May 2002 to July 2008 more than six years, equity transfer (state-owned assets)Benefits such as the preservation and appreciation of the interests did not recover, the local government misconduct and dereliction of duty has not been investigated.　　Jiangsu Provincial Party School, the director of Business Management Research Department, Professor Fangjiancheng, Jiangsu Suyuan law firm, deputy director of Zhu Dedong, and other experts believe that, in essence, because the Granville Limited 2002 years of transfer of state-owned property rights are invalid acts, so after the equity transfer payment and other acts should be regarded as invalid behavior. In addition to the issue of equity transfer, the "economic reference newspaper," the investigation found that the shares of Granville is also suspected of falsely increase profits, whitewash the report. 2006, Granville shares "precision and efficient metal sheet processing technology and complete system" project through the Jiangsu Provincial Science and Technology Department of the review, access to Jiangsu province, scientific and technological achievements of the conversion of 10.5 million yuan Special Fund grants. The prospectus clearly stated that 2010 1-June, the issuer of the government subsidy is large, mainly in the provincial scientific and technological achievements of the transformation Project "precision and efficient metal sheet processing technology and complete system" in January 2010 has Jiangsu Province Science and Technology department acceptance, the project appropriation of 10.5 million yuan into the current period of income. However, when the reporter on the "This special subsidy is in place every year or in place," the issue of the interview with the Asian Granville shares, the written answer is "year in place." This shows that the company is suspected to be in place 10.5 million yuan government subsidy deferred to 2010 to confirm the income, in order to gloss over the statement, the purpose of increasing profits.　　2010 1-June net profit was only 39.48 million yuan, while the current government subsidy amounted to 14.86 million yuan. The reform process is a frequent expert advice to investigate experts believe that the company shares in the restructuring process there are all kinds of very obvious violations or even illegal problems, is a frequent mishap.　　However, the local government is quite agreeable to the restructuring of the company's shares. The Jiangdou People's government issued in June 2008 "On the History of Jiangsu Granville Machine Tool Co., Ltd. confirmation of certain matters" (Jiang issued [2008]89 number), the 2002 Granville Limited state-owned equity transfer was confirmed, and that there is no loss of state-owned assets in the case,　　There is no dispute or potential dispute. However, since December 24 last year, Jiangsu Granville Machine Tool Co., Ltd. was approved by the Commission issued by the SFC, the controversy about the shares of the dispute has been constantly, the company has so far failed to public response to the controversial focus.　　On the contrary, the company's shares are step-by-step to advance their listing pace, February 22 this year began the roadshow, 23rd began to purchase. Jiangsu Provincial Party School Fangjiancheng Professor suggested that the relevant departments should be suspected of misappropriation of state funds, there are serious violations of the problem and have been a thorough investigation of the IPO behavior, and effectively protect the vast number of investors to know the right and vital interests.