FSL "infighting intensified Disasters pile up on one another." shares

Since carrying the LED business of new hope for the joint venture is dissolved, even the "national efficient lighting products" message can not make the market to restore confidence in FSL. Over the past few years, FSL's share price has been in a slump, in July 5th fell 2.15% again, to close at $8.19 / share. But it pours, the evening of July 5th, FSL released the latest announcement, the company received the Commission of Guangdong authority under two copies of "the administrative regulatory measures decision" (hereinafter referred to as "decision"), shall be ordered to explain the related transactions to conceal years, involving three years 2009 -2011 the annual report.

As we all know, in China, the related party transactions are subject to strict regulation, the relevant management measures are more detailed disclosure of related party transactions. However, the experience, as early as 1993 has been listed on FSL, but did not disclose a number of related party transactions for three consecutive years.

The company received a decision that FSL's 2009 annual report, 2010 report and annual report, 2011 report and the annual report did not disclose and Foshan knoch California Electric Appliance Co. Ltd., Foshan silangbo Enterprise Co. Ltd. the relationship, related transactions; not in the periodic report and disclosure (Hongkong) Association of the Qinghai skyline rare earth science and technology development limited company; and did not truthfully disclose the skyline of Hongkong, jointly funded the establishment of Qinghai fozhao lithium energy related trade development Co. ltd..

In this regard, the Guangdong board of directors decided to take orders to correct administrative supervision measures FSL. Ordered the company to be rectification, to the date of receipt of the written decision within 10 days Chinese Commission designated media for information disclosure, the relationship of disclosure and application of Kilinochchi, silangbo, Hongkong skyline and nearly three years of related transactions, and the corrected 2011 Annual report.

It is worth mentioning that, in charge of more than 20 FSL chairman Zhong Xincai also overwhelmed by the Guangdong Bureau of criticism.

Another decision received by the company pointed out that FSL chairman Zhong Xincai did not report to the report of the board of directors of Foshan electrical and lighting Limited by Share Ltd Foshan knoch California Electric Appliance Co. Ltd., Foshan silangbo Enterprise Co. Ltd, Qinghai power new energy material limited company (Hongkong), the relationship between the Qinghai skyline rare element technology development company four companies with FSL.

Guangdong authority ordered Zhong Xincai after receiving the written decision within 10 days Chinese Commission designated media for information disclosure, public relations between the four companies and I and FSL, and the reason is not timely instructions submitted to FSL board of directors association.

Guangdong securities regulatory bureau investigation storm again

Last night, FSL's announcement shows that recently received the Guangdong securities regulatory bureau of the "administrative regulatory measures decision", the supervision department of investigation, FSL chairman Zhong Xincai did not report to the board of directors of the listed company report, he Shi Nuoji California electric, Foshan zlamp, Qinghai new energy and power, Foshan (Hongkong) association the Qinghai skyline, between science and technology of rare elements four companies and listed companies therefore ordered Zhong Xincai in receipt of the written decision within 10 days of the public to the above matters, and not to submit to the board of directors of the listed company related reasons.

Zhong Xincai is a FSL veteran, 1964 to FSL, FSL can be said that Zhong Xincai is a big hand, FSL has for many years and generous dividends is called "cash cow". August 2004, Foshan SASAC and Oji Royuma Holding Co., Ltd. and Hongkong Chang Chang equity transfer, which became the first and second largest shareholder of FSL.

FSL internal strife full disclosure

Since then, FSL has several times to replace the general manager, but ultimately it is the letter to take over the old clock yuan. In September 1, 2010, Hongkong chang you the actual controller Zhuang Jianyi served in the FSL chairman soon, because of alleged insider trading by Guangdong securities regulatory bureau investigation and resigned as chairman, and served as chairman of Zhong Xincai.

At that time, there is news that FSL in the house, not only equity dispute, many fighting more OSRAM, Hongkong Youchang and Zhongxin et al. From last night's announcement, after Zhuang Jianyi was investigated after Zhong Xincai followed, FSL appears to have full disclosure of internal strife situation.

Three consecutive years of false stock prices fell by 8%

FSL fell sharply on Friday morning, after trading fell more than 9%, is now down by 8.06%, at $7.53. According to the yesterday evening's announcement, the company is Guangdong securities regulatory bureau check to conceal four affiliates for continuous fraud in 2009 -2011 report, the Securities Regulatory Bureau ordered the company to correct, and ordered its chairman Zhong Xincai publicly related transactions.