Start-up company Kaiming announces cessation of Operation priority liquidation of unpaid employee salaries

May 6 News, the much-watched TD-SCDMA chip Enterprise Kaiming Company's final fate: Kaiming Board resolution, Kaiming stop operation, began to pay off staff salaries and travel expenses. Following a board meeting on April 30, the Board of Directors of the Kaiming company continued to hold meetings on 5th, until the following morning, kaiming the board of directors finally announced that "as a result of the failure to seek additional funds to support the operation of the company, after careful assessment, kaiming board unanimously passed the resolution to terminate kaiming operations, and submitted to the general meeting of shareholders for approval. Subsequently, kaiming union representatives and the Kaiming board of directors continued to hold a period of meetings, but the parties declined to disclose more specific content of the meeting. On the morning of May 6, kaiming company CEO Yu Yushu and Kaiming company Union chairman Zhu Xiaogang and so on were shut down. However, according to Kaiming staff, the board resolution and staff expectations have a good side, there is a bad side. Kaiming employees ' biggest expectation is that they want kaiming employees to live, and from this point of view, kaiming company to stop operating, not to achieve this desire, but the board resolution at the same time decided to start paying off staff salaries and travel expenses, this is the staff's bottom line. For many shareholders of Kaiming, this board resolution also leaves a hint. Kaiming Board members have disclosed that the board has not decided that kaiming will be liquidated this time, which means kaiming there is also the possibility of being sold or shareholders to increase capital. According to other sources, the board has been in the good offices of shareholders to increase capital and take, kaiming mainly 5 major shareholders, the largest shareholder for hyper harsh, accounted for 18.58%, Texas Instruments accounted for 17.83%, Nokia accounted for 14.85%, Putian, Datang, LG are 11.86%. At present, Both Nokia and LG feel they can raise capital but the premise is to increase the capital with Texas Instruments, but the Texas Instruments refused to increase capital, so the shell card in Texas Instruments, Hyper harsh boss, Taiwan's electronics chairman Mo Haozhan is interested in acquiring equity holdings, but it is still mapping the attitude of other shareholders, No final decision can be made in a short period of time. From this point of view, it does not mean that kaiming has "died" and that there are opportunities for restructuring. Kaiming Board resolution The company terminated the operation of the four financing options are aborted China News network Xinhua Beijing, May 6 today 3 o'clock in the morning, TD chip manufacturers Kaiming Company 6 major shareholders reconvened board in the last 12 hours, the final curtain, and formally announced to the media kaiming Company will terminate its operation. 6 major shareholders arrived at the meeting of the Board of 6 shareholders, including the last attendance of the Texas Instrument Asia Pacific General Manager Chen Weiming, Datang Mobile senior vice President Cheillon and Putian Information Industry Group vice President Tauchon strong. In addition, Nokia China's president Giles in an emergency back to Finland did not attend the meeting, sent representatives Hammed to attend the board. LG representative In addition to the last attendance at the conference in charge of TD-SCDMA research and development of the Changuoliang, LG Electronics (strains) executive Jingzhong also attended the meeting. Kaiming largest shareholder hypermarket chairman, Taiwan's electronics chairman Mo Haozhan still not participate in this meeting, but delegates attended the meeting. Some people have been connected to the closed-door meeting by telephone. The meeting and the first time before the board of the atmosphere is different, kaiming staff representative performance is very calm. At 4:40 P.M., during the intermission of the meeting, kaiming staff once said, "Today's meeting is better, we can see the big trend, but because the board discussed the plan is more complex, so temporarily inconvenient to disclose specific plans." "All 4 financing options were aborted according to kaiming staff representatives, the Board discussed a total of 4 financing options. At 6:40 P.M., the meeting came to an end, kaiming staff representatives revealed that the Board's 4 financing options have been rejected three, the last one is TD chip manufacturers to buy kaiming solution, but is still under discussion. Kaiming staff representatives said that the exhibition on the acquisition of Kaiming proposed three proposals, the Board will further discuss. The meeting continued at 8:30 P.M., to 10:15 P.M. tea break time, kaiming staff representatives said that the company's acquisition of the Kaiming program did not pass, the meeting is on the issue of compensation for employees to negotiate. Kaiming employees said they would require companies to pay 100% of their compensation in accordance with the law, in addition to paying three months ' wages. Staff and shareholders to reach a consensus 0:5 A.M., the venue has sounded three consecutive applause, showing that the parties have reached a consensus on the relevant issues. After three hours three o'clock in the morning, shareholder representatives step out of the meeting, the Parties to the specific content of the consensus declined to disclose. Kaiming CEO Yu Yushu and employee representatives will remain in the meeting to discuss the details of the reimbursement of pay. And before happy to the media, "the lookout" posture is different, for the media on both sides of the specific content of the question, staff representatives are all tactful refused to answer. According to the disclosure, the compensation content includes employee's wages and social security, after solving the employee problem, then to the company liquidation failure. On some issues, such as overtime and overtime pay fines, employee representatives may make concessions, while staff representatives will waive their plans to sue the company for unpaid wages. Kaiming officially terminated Operation 3 o'clock in the morning, after the board of Directors issued a press release to the media, formally announced that kaiming Company will terminate its operation. The board said it had failed to seek additional funding to support the company's operations, and after careful assessment, Kaiming's board unanimously passed the resolution to terminate kaiming operations and submit it to the shareholders ' meeting for approval. At the same time, the main shareholders of Kaiming company also agreed that the TD-SCDMA industry will continue to support the development. After the collapse of Kaiming, China's TD chip dealers will be left four, the exhibition, T3G, Datang Mobile and heavy mail branch.