The actual control of the camel shares Liu Guo ju the super low price to obtain the controlling stake

In the past, the cost of acquiring collective property is only 0.425 yuan per share of the commercial newspaper reporter Zhang Shuxian camel shares IPO application is about to be through. A commercial newspaper reporter inspected the company's prospectus (pre-disclosure) and found that Camel shares the actual control of the Liu Guo Ju of the former acquisition of collective property costs only 0.425 yuan per share; more strange is that the camel shares in the name of corporate governance to clean up the internal staff unit and some natural persons shares after a big increase in shares, new shareholders including venture capital,　　natural persons and foreign capital, and so on, even to help their introduction of the strategy of natural persons can be low price shares. Liu Guo Ju this super low price to get equity in Camel shares prospectus shows that June 28, 1994, Hubei Camel Battery factory launched the establishment of Camel shares, the company to operate net worth of 10 million shares, of which 9.63 million were directly held by the Hubei Camel Battery factory, the remaining 370,000 shares by Hubei Stone Flower cotton Factory,　　Xiangfan Construction Industry Corporation, Gucheng County revitalization of chemical plants and natural persons Wei each hold 160,000 shares, 100,000 shares, 100,000 shares and 10,000 shares, and the other by the internal staff to invest in cash subscription 650,000 shares. After 6 years of time, the camel stock ownership structure has not changed significantly, but the establishment of the violation of the approval, the total amount of equity and ownership structure and approval, and the natural person Wei investment and other irregularities were corrected. It was not until 2000 that the shares of the camel took a fundamental change, that is, Shi to transfer its actual holdings of Camel shares to Liu Guoben and other 36 employees in the company for more than two years of working in the senior management, engineering and technical personnel and sales backbone, the transfer of a total of 17.04 million shares,　　It accounted for 80% of the total equity of the camel's shares. According to the Camel shares prospectus, Shi the government first from the transfer of the award Liu Guoben Personal 1,128,112 shares, net assets per share of 1.445 yuan, 1,128,112 shares to 1.6301 million yuan.　　After deducting the compensation fee of the worker's settlement for 6.144 million yuan, the remaining net assets corresponding to the transferred target are 16.8536 million yuan.　　On the basis of the evaluation value of 40.16% discount, Shi government finally only 6.7687 million yuan at the price of a one-time transfer to Liu Guoben and other 36 natural persons, the price per share is only 0.425 yuan. The natural person Liu Guoben after being rewarded and gets the stock right, it holds the camel shares 6.9378 million shares, the shareholding ratio is 32.57%, but its cost is only about 2.4691 million yuan.　　2005, due to employee turnover and internal workers voluntarily adjusted shareholding ratio, and other reasons, the camel stock shareholders carried out a part of the share transfer, the transfer price of 1.00 yuan, it is the transfer of equity, Liu Guo Ju this shareholding ratio from 32.57% to 46.47%. Shi actual shareholding is the former Hubei Camel battery factory in the name of 16.5 million shares, to Hubei stone Flower cotton plant in the name of 240,000 shares, to Xiangfan Construction Industrial Corporation in the name of the 150,000 shares held and to Gucheng County vibrationXing Chemical plant in the name of the 150,000 shares held.　　According to the Camel shares prospectus disclosed, Hubei Camel battery factory, Hubei stone Flower cotton Factory, Xiangfan Construction Industry Corporation were written off in August 1994, Gucheng County revitalization of the chemical plant in September 1999 cancellation. Repurchase of employees ' shares and natural stocks camels the initial share of the Fund's internal workers did not enjoy the upcoming feast.　　October 2007, Camel shares to improve corporate governance, standardize the ownership structure of the company as a whole of the former issue of all internal staff shares repurchase cancellation, at the same time the fate of the repurchase is also in 2000 from the hands of the Shi of the shares of some natural persons shares.　　According to the Camel shares disclosed that the repurchase price of 4.92 yuan per share, a total of repurchase 4.3025 million internal staff and 2.7905 million shares of natural persons, total repurchase cancellation 7.093 million shares. After the stock repurchase, the camel stock shareholders into 7 natural persons, Liu Guo Ju the size of the shareholding rose to 69.67%, Liu Changlai, Yang Shijun, Wang Kongjiang, Tan Wenping, luming accounted for and Shang shareholding of 8.32%, 7.31%, 6.55%, 4.44%, 3.43% and 0.28%.　　If the repurchase of the original internal staff shares is to eliminate the illegal issuance of internal staff shares, then the repurchase of natural persons shares is slightly inconceivable.　　After the cancellation of the repurchase of the internal staff and natural stocks, the camel shares were held at the 2007 Annual general meeting of March 10, 2008 to pass the high transfer program, that is to send 21.7 shares per 10 shares, which has been cancelled by the stock holders obviously can not enjoy the feast. Camel shares not only launched a high transfer program in 2007, 2008 and 2009 are also launched a very rich distribution scheme, that is, the 2008 profit distribution scheme for every 10 shares to increase 5.4789, 2009 is the first 10 shares to send 3 shares (November 2009 added shareholder Zhi Cheng Hai wei,　　Nantong Pine wo and Jia Wenhao do not participate in distribution), and then to send the red shares after the total share capital as the basis for the distribution of profits and then to all shareholders in accordance with 10 shares to send 2 shares, to all shareholders in accordance with the Capital Provident Fund to 10 shares to increase 13.5 shares.　　Share change memorabilia cancellation of part of the equity after the big increase in shares in December 2007, just spent 34.89 million yuan repurchase cancellation more than 7 million shares, the 2008 Camel shares said, with the company's rapid expansion of business, rapid improvement in business performance, the pressure of increasing capital demand, the company decided to increase capital expansion shares.　　May 28, 2008, Luo Ling Investment and natural persons Liu Changlai, Shang, Zhangqingqing, Tai Jingming, Gao, horse June, Anjiangpo, Dong Xingmei, J, Zhu, Dongzegiang to the camel's shares of money to increase capital, a total of 10.2 million new shares, increase the price of 4 yuan. November 2009, Camel shares again introduced Shenzhen Zhi Cheng hai wei, nantong pine wo and natural person Jia Wenhao, and other 3 new shareholders, a total of 2.4125 million new shares, the increase in the price of 9.60 yuan. Camel shares actual Control person LiuNation-base will transfer its 500,000 shares to 4.5 yuan/share to Orient Xiang ' an. Meanwhile, Liu Guoben, Liu Changlai, Yang Shijun, Wang Kongjiang, Tan Wenping and luming of the top six natural stockholders of the Camel stock transfer 25% of the shares of their respective companies to the hump investment.　　The hump investment is an investment company funded by the six people. November 25, 2009, Camel shares decided to introduce Qi Li Capital and Rui Sheng Energy two foreign shareholders,　　One of the odd-force capital investment of 166.344 million yuan, holding 17.3275 million shares of the company, Rui Sheng Energy investment of 13.656 million yuan, holding the company's shares of 1.4225 million shares, the increase in the price of 9.60 yuan.　　December 12, 2009, Liu Guoben and natural person Liu signed the "Share transfer agreement", the 309,580 shares of its holdings to Liu Neu, the transfer price of 7.50 yuan.　　December 2009 16-18th, the hump investment and Zhou, Humingyang, Yang Yadong, Jia Hongyan signed the "Share transfer agreement", the holding of its 700,000 shares of the company transferred to the Zhou and other 4 natural persons, the transfer price of 6 yuan per share.　　As for the above 4 natural persons to be inferior to the price of the shares under foreign investment, camel shares given the reason is: Humingyang to assist the company to introduce foreign shareholders, Yang Yadong and Zhou to assist the company to introduce investors Prudential and Nantong Pine wo, Jia Hongyan Liu Guoben friends, so the transfer price is lower than the foreign investment price.　　April 1, 2010, Liu Guoben and Shenzhen letter Connaught signed the "Share transfer agreement", the 380,000 shares of its holdings to the letter Connaught, the transfer price of 12.48 yuan per share. After a series of equity transfer and profit distribution, as of the prospectus disclosure day, Liu Guo Ju directly held 120 million shares of Camel shares, and through the hump investment and camel investment control camel shares 90.6977 million shares, Liu Guo Ju this total control of the camel shares issued before the total share capital 62.53%.