Wu Changjiang couple pledge agreement and the sale of the transaction constitutes a connected transaction

According to NVC announced by Wu Changjiang allegedly on behalf of China NVC signed the pledge agreement, agreed to a Chinese NVC allegedly Chinese company Jiang borrowing 100 million yuan pledge loans. A survey conducted by the company indicates that Jiang is a connected person of the company. Therefore, if it is deemed to have legal effect, the Pledge Agreement constitutes a connected transaction of the company.

The company continued by Wu Changjiang allegedly on behalf of NVC signed several Chinese pledge agreement, seek legal advice. In addition, Chinese is China territory for NVC Wu and other parties to take legal action, and the company is considering the possibility of taking further legal measures, in order to protect their own rights and interests.

In addition, from 2009 to 2013, Huizhou NVC authorized a China company is Yang for its engineering products in Chongqing, sales agents, professional engineering products. According to Huizhou NVC's financial records, as yet Yang from Huizhou NVC total purchase amount is about 48 million yuan rmb.

In view of the above arrangement, Huizhou and Yang in January 2011 still NVC sales agency agreement signed, Huizhou NVC agreed to license its 2011 Annual Shang Yang engineering products in Chongqing, sales agents, professional engineering products. In addition to sales agency agreement, a written agreement of other sales arrangements between Huizhou and Shang Yang NVC has not been found.

The company is conducting a survey shows that, from January 2009 to November 2014, Wu Changjiang's wife Wu love owns 48% stake in Yang shang. According to the listing rules, Wu Changjiang is a contact person in the sales market and is a connected person of the company. Thus, the sale transaction is a connected transaction of the company.

For more information about LED, please click on China LED network or pay attention to WeChat public account (cnledw2013).