The rapid growth of Hongsheng Technology in the past few years is mainly due to the rapid growth of the mobile memory card market, which is also the main source of the company's income and profits.
Three people deal with daily affairs temporarily.
The above-mentioned insiders told the Morning Post reporter that the news of Long Changsheng's detention came out on February 15, 2008. Because there is a public holiday in the middle, Hongsheng Technology announced the detention of the chairman on February 18. "For the entire board of directors of Hongsheng Technology, it is a matter of expect the unexpected." Yesterday, insiders of Hongsheng Technology said, "(February 18) the whole company held a one-day board meeting to draw up a temporary treatment plan. By last night, we made an announcement and appointed three people to take charge of the daily business of the company temporarily. At present, the company's daily operations have not been affected. "
The insider said in an interview that Long Changsheng was detained because of the company's business problems, not personal problems. He revealed that Long Changsheng was detained by the Shanghai Public Security Economic Reconnaissance Department. "The economic investigation department did not explain more to the board of directors of Hongsheng Technology. Judging from the content of the detention certificate, Long Changsheng was detained as the legal representative of the company. The reason for the detention is suspected of contract fraud, so it must be related to the company's business. "
Producer in Beijing
Hongsheng science and technology sources revealed that Long Changsheng was arrested on suspicion of "contract fraud", which was related to the company's long-term business partner CITIC Insurance. He said that CITIC Insurance is headquartered in Beijing, and this detention was also ordered by Beijing, and the Shanghai Economic Investigation Department only implemented it. People close to CITIC Insurance also said that the business relationship between Hongsheng Technology and CITIC Insurance is based on the Beijing head office and has nothing to do with CITIC Insurance Shanghai Branch.
Hongsheng Technology's main business involved in import and export is electronic storage products. "Our business model is to take orders from some large stores in the United States and then produce them by some domestic manufacturers. During the transaction, China Import and Export Credit Insurance Company will insure orders and accounts receivable. "
The insider told the reporter that Hongsheng Technology adopts a supply chain management model, which is different from its own factory production and pure trade.
The source said that the incident did not involve the company's customers, American sellers and domestic manufacturers. The main customers of Hongsheng Technology are large North American manufacturers such as Wal-Mart and Best Buy.
The major shareholder cashed in 654.38+0.24 billion in advance.
It is worth noting that a few days before Long Changsheng was detained, Shanghai Hongpu Industrial Investment Co., Ltd., the largest shareholder of Hongsheng Technology, just cashed in 654.38+0.24 billion yuan by selling shares of Hongsheng Technology. Long Changsheng is also the chairman of Shanghai Hongpu Industrial Investment Co., Ltd. Some market participants speculate that perhaps the company's emergency cash withdrawal is to deal with the so-called "contract fraud" case.
On February 6, 2008, Hongsheng Technology announced that Shanghai Hongpu Industrial Investment Co., Ltd., the largest shareholder of the company, sold 10452000 shares from February 3, 2008 to February 4, 2008, accounting for 8% of the company's total share capital. After this transaction, Shanghai Hongpu Industrial Investment Co., Ltd. still holds 40,746,5438+07,760 shares (accounting for 365,438+0.65% of the company's total share capital) and remains the largest shareholder of the company.
Hongsheng Technology (6008 17) was affected by the detention of Long Changsheng, and immediately plunged after the resumption of trading, once falling. However, the rapid decline did not last, and soon the stock gradually rose. By the close of the afternoon, the stock reported 1 1.68 yuan, down 3.39%, with a turnover rate of 14. 1% and a turnover of127,000 lots.
Hongsheng Technology is a high-tech enterprise specializing in the design, manufacture and sales of photoelectric products and integrated circuit products in Shanghai. Listed on June 1994 and June 1, it is a well-known "Zhuangzi stock" in the market. According to the data, Hongsheng Technology was selected as one of the top 50 "China's Most Competitive Companies in 2007" jointly sponsored by Global Entrepreneur magazine and international consulting firm roland berger.
The rapid growth of Hongsheng Technology in the past few years is mainly due to the rapid growth of the mobile memory card (SDCARD) market. At present, it has also become the most important source of income and profit for Hongsheng Technology. Hongsheng technology has been involved in this market since 2003. Through continuous development, the market share of mobile memory cards in the United States is close to 5%, which has certain market influence. Contact stars are sexy stunners. Long Changsheng's "three sins" smashed Hongsheng Technology.
After the exposure of the Kweichow Moutai case and the Qiu case, the sword of the regulatory authorities was still frequently unsheathed, and Long Changsheng, the chairman of Hongsheng Technology, was dismissed. In the entertainment circle, Long Changsheng is called a star killer. He is tall, handsome and charming. He has had an affair with many sexy stars such as Zhang Xiaohui, CoCo Lee, Shu Qi, Rosamund Kwan and Lin Xilei, and his tidbits are endless.
On February 8, 2008, LOOC-0, Long Changsheng was criminally detained on suspicion of contract fraud. On March 12, Long Changsheng was formally arrested by Shanghai Public Security Bureau. He was charged with three crimes: evasion of foreign exchange, false capital contribution and withdrawal of capital contribution.
After the opening, the main funds of Hongsheng Technology fled when they heard the news, struggled a few times and lay on the daily limit. According to industry sources, as of the close, the stock has closed at 65,438+03,964 lots, with a turnover rate of 9.02% that day. Long Changsheng stopped Hongsheng Technology for three crimes, and the main funds were firmly sealed. The prospect of the stock market is bleak.
According to the announcement of March 14, 2008, Chairman Long Changsheng was involved in a huge amount of loans overdue. A subsidiary of Hongsheng Technology failed to repay the letter of credit of US$ 65.438+0.2 billion (about RMB 800 million) to CITIC Bank Shanghai Branch in loans overdue. The export guarantor of this loan business is China Export Credit Insurance Corporation (hereinafter referred to as CITIC Insurance). Because it was overdue, Zhongxin reported the case to the police. The subsequent investigation by the police revealed the corruption cases of CITIC Bank Shanghai Branch and CITIC Insurance, involving the presidents of branches and sub-branches, and four employees of CITIC Insurance Headquarters were also investigated.
Hongsheng technology faces liquidation crisis
Hongsheng Technology announced that the Long Changsheng case has had and will continue to have a significant impact on the normal operation of the company, and reminded investors to pay attention to investment risks. Last year's mid-year report showed that Hongsheng Technology's net assets at that time were only 335 million yuan, and it was likely to be unable to repay debts exceeding 654.38 billion US dollars, thus facing a liquidation crisis.
As CITIC Insurance assumes joint and several liability for guarantee and becomes the final creditor, it has filed a lawsuit against Hongpu Industry, the largest shareholder of Hongsheng Technology, to recover the funds. At present, the Huangpu District Court has frozen 38.82 million shares of Hongsheng Technology (including 25.59 million pledged shares) and 1.92 million shares (pledged) held by Hongpu Industrial, totaling 40.74 million shares.
Social butterfly is a sexy stunner.
According to the New Express, Long Changsheng is 46 years old and is 1.8 meters tall. He is not only famous for his family background, but also tall and handsome, and he is quite famous in the business world. His wife used to be an actress, but she retired from the show business after marriage. They have a daughter of 1 1. It is true that Long Changsheng's name has been repeatedly associated with famous female stars, and it is ambiguous with many sexy stars such as Zhang Xiaohui, CoCo Lee, Shu Qi, Rosamund Kwan and Lin Xilei. Some people even say that he spent a lot of money chasing CoCo Lee, Shu Qi and Rosamund Kwan, and even went to the United States to gamble every year, amounting to tens of millions of dollars.