Jinggu Forestry Board is not a harmful company

As one of the troika of the "Tai Yue" system, the Jinggu forestry industry has been deteriorating in recent years. The board held by the Thai-leap system is to extend the original three-year term of the board of Directors to today, in view of the current situation, although the loss of the status of the largest shareholder, the company's future may still be master of the Thai jump.　　If so, it would be a "Jinggu" for shareholders of the forestry industry. The Board of directors does not do harm to the company Jinggu Forestry last board transition was on December 9, 2005.　　Under the company law, directors of a corporation shall not have a term of more than three years, at present, the incumbent board of Directors has exceeded the statutory maximum term of 1 years and 7 months, which is a violation of the company law. As you can see from the resume, these "extended service" directors are mostly former major shareholders of the Thai credit guarantee.　　However, the deteriorating business situation of Jinggu forestry is closely related to the omission of the board of Directors. A quarterly display, Jinggu forestry to achieve the main income of 40.3091 million yuan, a loss of 12.9092 million yuan, the losses increased by 2.0443 million yuan. For such a huge loss, the company said it was due to the merger of Yunnan Jiangcheng-source forestry losses increased. At the same time, the company's production and operation has not significantly improved, predicting possible losses in the first half.　　In 2009, the company lost 91.7411 million yuan, earnings per share-0.71 yuan, and for the 5th consecutive year after deducting non-recurrent profit and loss. Can be seen, since the "Thai leap" under the Chinese-Thai credit guarantee officially entered the company's operating decline. On the one hand, China-Thailand credit guarantee through the use of listed companies "Tai Yue series" under the Beijing June-century real estate, Beijing Science and Technology Park and other companies, encroached on the Jinggu forestry large amount of funds, on the other hand, the company's main business development indifference, investment in the establishment of the main industry As a recent investment, Jinggu Forestry invested 9.28 million yuan in June 2009 to acquire 79% per cent of the container floors in Yunnan, and according to the annual report, the company's losses in the second half of 2009 amounted to 7.383 million yuan.　　As can be seen from the 2009 report, Jinggu Forestry is the main holding subsidiaries are in a loss, of which the source has been for 5 consecutive years of loss, Cloud pine production 7 years in 6 years of loss, Sen-Li Company 6 years 4 years of loss. Two major shareholders scramble for control in order to save listed companies, the government of Yunnan Jinggu Dai Yi Autonomous County tried to regain control.　　The county Finance Bureau set up Jinggu state-owned assets management company in early 2008, then both sides had a stake in the capital market. Through the transfer and two-tier market holdings, Jinggu in the end of 2008 total holding 31.69 million shares, accounting for 24.42% of total equity, become the largest shareholder. Subsequently, China-Thailand credit guarantee to buy the company 402700 shares, the proportion of shares rose to 24.424%, and through the associated company to hold 24.5% of the company's equity, to become a controlling shareholder. and in 2009 March-June, Jinggu through multiple overweight eventually held a 25.57% of the company's shares, eventually become the largest shareholder, but the proportion of shares only than the Sino-Thai Credit guarantee more than 1.15%. Although China-Thailand credit guarantee lost its holding shareholder status, the board refused to "surrender". March 2009, Jinggu Forestry Board announced that the two major shareholders could not agree on the new board members to cancel the provisional shareholder meeting, refused to make a board transition.　　June 12, 2010, the company board of directors again said for the above reasons to cancel the temporary shareholders meeting to reject a transition. July 2, the company finally announced that it will convene a provisional shareholder meeting on July 29, re-election of the board of Directors. But the subsequent release of the list of board candidates was disappointing to investors. Jinggu, a major shareholder, recommended 3 non-independent directors and 2 independent directors, Sino-Thai Credit Guarantee recommended 3 independent directors and 1 independent directors, while the company board of Directors still recommended 1 non independent directors and 2 independent directors in spite of objections from the two directors from Jinggu.　　This means that the number of independent directors recommended by the Sino-Thai Credit guarantee has reached 4, with the independence director reaching 3, more than Jinggu, and the Sino-Thai credit guarantee does not want to lose control of the company.　　The board's re-election is election, with a total of 6 independent directors and 3 independent directors, thus, if Jinggu wants to seize power, he must ensure that the 5 candidates they recommend are supported by shareholders, and if there is any mishap, the Titans will still be in control of the board in the next 3 years. The last straw of the Thai leap the credit guarantee of China and Thailand is so important to the controlling power, which is closely related to the current situation of Thai leap.　　In the capital market has the scenery Unlimited "Thai leap", its head is Beijing Tai Yue Real Estate chairman Liu June.　　From July 2001 to March 2003, Liu June acquired 5 listed companies, in addition to the Three Gorges Water Conservancy and Kama B, respectively, due to the dispute and equity repurchase was forced to withdraw, Hubei gold ring, Jinggu forestry and Mau Hua is firmly controlled by Liu June. But with the 2006 Liu June in jail, the Thai leap began to disintegrate gradually. One of the actual control of Hubei Golden Ring changed to Hubei Jia Xin, the company said and "Thai leap" no more ties.　　The controlling shareholder of Mau Hua is now a Beijing-Thai real estate, but all of its shares have been frozen by the court, the company's top executives are only chairman Guo Jinsong and 1 supervisors have a Thai-leap background, the Thai jump has completely lost the control of the Mao Hua, and Jinggu forestry became the last straw in the Thai jump system. According to our survey, the current Thai-hop line of the company's business has basically stalled. In the Thai-hop group and the office of Sino-Thai Credit guarantee, the reporter saw is also a bleak, in which the office door of credit guarantee is locked, it seems that has been a long time no one has been.