Wu Changjiang announces "return" to NVC Lighting and complains to the Stock Exchange

No longer waiting for the "official reply" of the board of directors represented by Yan, Wuxi Chang, the founder of NVC Lighting, told reporters yesterday that he will "return" to NVC lighting as a major shareholder.

“This gang of fake boards does not care anything,” Wu Changjiang said. He thought that regardless of how the board of directors thinks, let the company operate normally, and believe that his employees, suppliers, and distributors will continue to be the same as him. .

However, NVC may not wait until the return of Wu Changjiang. Xu Fengyun, Vice President of NVC Lighting, officially resigned his position to the board of directors yesterday. Independent director of NVC Lighting and former Asia Pacific senior executive Kajden Daas have also left.

Wu Changjiang: I also have to complain to the Stock Exchange that Wu Changjiang, the founder of NVC Lighting, which was only engaged in an exchange of fire with Weibo, has finally exhausted his patience while waiting. He told reporters yesterday that he was determined to return to his "self-help." The first step is to stabilize the team and reassure the supplier that it will continue to supply and keep the plant running.

On August 10th, Yeshe replied that he would reply to the supply chain's deadline for the return of Wu Changjiang, but the board of directors did not issue any official notice on the matter. NVC Lighting's more than 20 suppliers formally sent a letter of contact to NVC Lighting Purchasing Department that day, as the board of directors of the NVC Chairman's representative broke the letter, the supplier will stop the supply from now on, and at the same time demanded the settlement of all Payment, resolve related inventory.

On a Monday morning, NVC Lighting issued an open letter to all investors of Saifu, accusing the Safari fund manager and the current chairman of NVC not to be honest, leaving Nashi in a situation where it is “unrequited”. “By defying the founder of the company from the bones, and bullying the founders in real operations, they grabbed the class to seize power.”

"Isn't Schneider thinking about swallowing NVC in the beginning? I can't say this, but Schneider is really an accomplice to him." Wu Changjiang revealed to reporters that he had directly passed Zhu Hai, President of Schneider China. "He just It's about taking a look at NVC's channels, what you want and what you want to do. As long as you can get the company done, I support you."

Wu Changjiang disclosed that Softbank, Schneider, and Goldman Sachs, etc., represented on behalf of Softbank, have become concerted actors and their shareholdings have exceeded 30%. "They will surely initiate a tender offer and control NVC Lighting."

Wu Changjiang fought back, and returning to NVC is an important step for him. “I will also file a complaint with the Stock Exchange. This is also what they learned (,), complaining about their ignorance, being irresponsible to shareholders, what I want to complain about. too much."

Independent directors and executives have left NVC employees and have been frustrated with the Board of Directors' delay in resolving the company's difficulties and demands. They have begun to find their own way out.

Xu Fengyun, Vice President of NVC Lighting, resigned from his position to the board of directors yesterday. He said in his letter of resignation, “I feel very disappointed with the company’s recent events and feel desperate for the way the company’s board of directors handles related matters. The company's future development does not see any hope."

"Falling to the end, overcoming difficulties," Xu Fengyun told reporters that NVC without Wu Changjiang was not NVC. He applied to resign as vice president of NVC, chief operating officer of the market management system, and chief operating officer of the large project system. All positions within the company require the board of directors to approve within three days.

Informed sources also disclosed that NVC Lighting's independent director, K arel Robert D EN DAAS, filed a resignation application with the board of directors on Thursday. The current chairman of NVC Lighting held a conference call for the board of directors and accepted the K arel Robert D EN DAAS. Resignation. At present, the board of directors is actively looking for new independent directors.

It is reported that K arel Robert D EN DAAS has been an independent director of NVC Lighting since he retired from Philips in 2009. According to public information, K arel Robert D EN DAAS has served as Chairman of Philips North America Lighting Business Unit and Chief Operating Officer of Philips Global Lighting Business.

"When the board of directors discussed who was the CEO, Karel clearly expressed his opposition to the original Schneider executive Zhang Kaipeng as the CEO. He was very dissatisfied with the profit that prevented Wu from returning to the Yangtze River. It was a matter of tension," said the person familiar with the situation. There will be more senior executives leaving this week."

For the supporters' first departure, Wu Changjiang said that the brothers followed him for so many years. Everyone still insists on it. In the end, they don’t give up.

The dialogue "Does not allow companies to destroy in their hands like this"

Reporter: How do you kill yourself?

Wu Changjiang: Of course, part of the reason I came back is for myself, but also for the small and medium shareholders, and for the livelihood of NVC’s hundreds of thousands of employees, what I should do on my own. I will first go to Huizhou tomorrow and call a meeting of management to let everyone stick to their positions, stabilize the team, and put the production into operation. Don't let the factory out of stock. Then go to Chongqing.

Reporter: If you do this without the approval of the board of directors, will it be a bit unfair?

Wu Changjiang: How can I be misunderstood? ! I am the founder and major shareholder of the company and do not allow the company to destroy it in their hands. That pseudo board does not care. If they do not feel right, it is better to go to court and we will take legal proceedings.

Reporter: This internal consumption has caused the NVC brand to be hit in the market. Some dealers have lost confidence, and NVC’s internal brain drain is also very serious. After you return to NVC, how to deal with it?

Wu Changjiang: My brothers have followed me for so many years. Everyone is a prosperous person and a loss. I told them that we must not give up until the end, and we must save ourselves.

"100% is wrong with you"

Reporter: When you were interviewed last month by us, you said that you have agreed to three conditions and will not return in the near future. However, there has been no reply until now. What has changed in the end?

Wu Changjiang: You asked me how I know. You should go and ask you, you don't know which neuron he has problems with, and you don't want to go back and lack credibility. He also said that others must “have a contractual spirit”.

Reporter: Do you have any communication with you now?

Wu Changjiang: Since he was last exposed to holding shares in many affiliates of NVC, he never contacted me again.

After the report came out, he called me and thought it was what I said to the media. I said I didn't know the media reports. I didn't say that there may be very few high-level executives who know this thing. He never contacted me again.

Reporter: Where is your disagreement with you?

Wu Changjiang: Now he has estimated me as a personal grudge. He tells lies and tells me that he is crazy. It is necessary not only to make a blind but also to build a memorial archway. This type of person who does not speak up on honesty, it is estimated that those funds will not be controlled by him, and his career will become a problem later.

Reporter: Do you think that NVC is responsible for the current situation?

Wu Changjiang: It is 100%.

Reporter: But he said that all of this is something that you should not do and was investigated by the Central Discipline Inspection Commission. He also said that you developed real estate in Chongqing and Wanzhou in the name of NVC, and the related transactions were unclear.

Wu Changjiang: You asked him to come up with evidence. If I do something, the Stock Exchange will check me and the ICAC will not let me off.

My related transactions are transparent. My family holds shares in some affiliates. All these are announced. He did it, but he didn't say it, but he did not make any announcements.

The land in Wanzhou was requested by NVC's employees. They said that commodity houses are expensive and they can't apply to the government to buy a plot of land and employees can use it to live at their own cost. We followed the normal auction procedure and did not misappropriate NVC Lighting for a penny and did not harm any interest of shareholders.

"I was too confident at the time."

Reporter: Do you regret the decision to introduce Softbank Saifu and Schneider one after another?

Wu Changjiang: I don’t regret the introduction of venture capital, but working with people who are not honest is my biggest mistake. The Chinese people in China say that "a gentleman has a word and it is difficult to chase after him." Oral promises must be honored. However, when he had said something to himself, he denies that even the black and white words are not counted. He also accuses others of not having a "contractual spirit."

Reporter: In this guilt, Schneider's role is delicate. NVC employees believe that Schneider has an eagerness to annex. He repeatedly said that Schneider is only doing the right thing, and Schneider has been relatively low-key. How do you think of Schneider?

Wu Changjiang: Schneider is an accomplice and they have different purposes. Before the Spring Festival, I gave a call to Zhu Hai (President of Schneider China). I said what do you want? You are nothing more than taking a look at NVC's channels, what you want me to give you, you tell me your purpose, as long as the company can do a good job, I support you.

My person, at the time, really saw less about risk, more about the opportunity, and too much confidence. I think the channel is in my hands. My brothers are listening to me. Are you investing to make money? As a result, I made money for them and made a lot of money. It is now like this.

Reporter: What are their plans?

Wu Changjiang: The representatives of Softbank, Schneider, and Goldman Sachs have already become concerted actors. Their shareholdings have exceeded 30%, and they will surely initiate a tender offer to control NVC Lighting.

I will lodge a complaint with the Stock Exchange. This is to learn from them, complain about them, and be irresponsible to shareholders. I have to complain more.