Market: Yesterday Foshan Lighting's share price performance was stable. Stockholders worried that the stock price will fall sharply due to Zhong resignation. Analyst: Whoever takes over as general manager will affect the stock price of Zhongxin: The new energy vehicle development plan should not change.
After the announcement of the news that the general manager of Foshan Lighting Zhong Xincai resigned from the general manager, the capital market stirred up a thousand waves. Yesterday, although Foshan Lighting fell more than 3%, it was relatively stable compared with the broader market. Zhong Xincai said in an interview with the Foshan Daily reporter yesterday that the move was to give way to young people.
Foshan Lighting was stable yesterday
On the evening of April 22, Foshan Lighting announced that Zhong Xincai had applied for resignation as the general manager of the company for personal reasons. According to relevant regulations, he will only serve as the chairman of the company. "Old clock resigned, I don't know if the stock price will fall." The old man's words that have been holding Foshan lighting for a long time in the past 10 years have revealed concern.
However, on April 23, Foshan Lighting's share price did not fall sharply. On the same day, Foshan Lighting's share price opened at 9.95 yuan, which was only slightly lower than the closing price of 0.03 yuan last Friday. After that, it oscillated lower and closed down 3.01%. However, its trend basically coincided with the broader market, the same day the market also oscillated lower, the small and medium board fell 2.02%.
However, some analysts believe that perhaps the market has not responded to the news. “The soul character resigns from the position of general manager, and the impact is big, and the market needs further evaluation,†the analyst said.
Zhong Xincai: "You should let young people do it."
Speaking of Zhong Xincai, many Foshan people have thumbs up. "Foshan Lighting's Jiangshan is what he laid down." Old stockholder Chen Shu holds Foshan Lighting all the year round. He said that Foshan Lighting is the one that Zhong Xincai brought with him. He made Foshan Lighting the first listed company in Foshan. In this A-share market, "cash cows", Zhong Xincai is a "reassuring" of Foshan Lighting.
As a foreigner, Zhong Xincai brought a Foshan brand to the whole country and deserves respect from Foshan. What is the reason for the old clock to leave? Foshan citizens have been talking about this matter.
In response, the reporter called to interview Zhong Xincai. He responded with a hearty voice on the phone: "I am 69, and I should let the young people come." Zhong Xincai said that for Foshan Lighting, it is necessary to consider cultivating new successors. Don't wait until you can't move before you fall back.
Wu Yulin, president of the Foshan Lighting Association, said that the general manager is mainly responsible for specific matters, and Zhong Xincai has a high age and limited energy. At the same time, the chairman and general manager are a bit difficult for an elderly person who is nearly 70 years old. It is a good thing for the younger people to serve as Foshan Lighting. He believes that the resignation of Zhong Xincai will not have much impact on Foshan lighting business. "The active abdication of the sages also reflects the amount of the device as an old helm."
According to public information, Zhong Xincai has been working in Foshan Lighting since 1964. Since 1992, he has served as chairman, general manager and party secretary of Foshan Lighting. He has been the helm of Foshan Lighting for more than ten years. However, since Osram and Hong Kong's Prosperous Shares in 2005, Zhong Xincai's position has changed many times: In 2005, he resigned as general manager and retained the position of chairman. In 2008, the company lost money, and at the end of the year, Zhongxin was once again the general manager. On May 28, 2010, the company announced that Zhuang Jianyi took over as chairman of the board, and Zhong Xincai retained the position of general manager and legal representative. However, less than four months later, Zhuang Jianyi fell into the whirlpool of insider trading and resigned as chairman. Zhong Xincai re-elected as chairman and general manager as a "firefighter."
Who will take the position will directly affect the stock price
“The old clock is also older, and the slower abdication will minimize the impact on Foshan Lighting.†Xiao Zhanpeng, an analyst at Anxin Securities Lighting Industry, said that the impact of such practices on stock prices compared to the resignation of all positions at once. Smaller. "The key now is to see who will pick up." For the stock price performance after the resignation, Deng Zhiwei said.
Who is the successor? There are many outside speculations, and some insiders said that the current vice chairman and deputy general manager Liu Xingming is more likely to be the general manager. It is reported that he served as the general manager of Foshan Lighting from 2005 to 2008. In this regard, Foshan Lighting Securities representative Zheng Yuanhai said it is not convenient to disclose, the relevant situation will be announced in the company on the last two days. It is reported that according to the original plan, Foshan Lighting will announce the 2011 annual report on the 25th.
For investors, the most worried about the resignation of the old clock is whether the new energy development strategy that Zhong Xincai has always pushed will change and whether Foshan Lighting will continue to maintain the image of “cash cowsâ€. "I think the direction of new energy should not change." Zhong Xincai said in an interview with reporters that the recent development plan for new energy vehicles during the "Twelfth Five-Year Plan" period has emerged. He feels that even if he stepped down this direction It should not change. However, Xiao Zhanpeng pointed out that it is not necessary to rule out the contraction of the new heads after taking office, and concentrate on developing the main business of lighting.
For the future dividend plan, Zhong Xincai refused to answer because he was not suitable for responding too much.
Zhong Xincai Quotations:
"Why have I been insisting on high-profile distribution for so many years, I think this has something to do with my origins. I am from the countryside. I have to sell fried dough sticks when I study. I think the money is not easy. As a general shareholder, Their money is not easy. If he doesn't buy your stock and puts interest in the bank, how can you give it to others without paying dividends? For me, I always have a lot of money. Good feeling."
"The successor should be a talented person who can bear hardships, dare to rush, and be practical and practical. Foshan Lighting is discovering talents and selecting talents in this direction. Talents must be honed to know if they are competent. Therefore, the determination of candidates. Need a process."
Zhong Xincai’s personal affairs
Zhong Xincai, "Chinese Lamp King" Foshan Lighting's "old hero". In Foshan Lighting for 30 years, a small company with an annual output value of only 5 million yuan has become a competitor that rivals Philips, GE and Siemens. He led Foshan Lighting as a model for listed companies and a model for China's stock market. As of 2008, Foshan Lighting's accumulated dividends are now more than 1.3 billion yuan, which also exceeds the amount of funds raised from the securities market since its listing.
He was born in 1942, Nanjing, Jiangsu Province. He worked in Foshan Lighting in 1964. After 1992, he served as chairman, general manager and party secretary of the company.
In 2005, when Zhong Xincai resigned as the general manager, he still retained the position of chairman of the board and was replaced by Liu Xingming as general manager.
On December 24, 2008, Foshan Lighting once again announced that Chairman Zhong Xincai will concurrently serve as the general manager. The former general manager Liu Xingming was appointed as the deputy general manager of the company and concurrently the general manager of sales.
On May 28, 2010, a paper announcement from Foshan Lighting announced that Zhong Xincai, the head of the company, had resigned as chairman of the board of directors. The former vice chairman Zhuang Jianyi took over as chairman. However, Zhong Xincai served as the vice chairman of the company and served as the general manager and legal representative.
On August 31, 2010, Foshan Lighting announced that the board of directors of the company received a written resignation report from Chairman Zhuang Jianyi on August 30. As it is being investigated by the Guangdong Securities Regulatory Bureau of the China Securities Regulatory Commission, it will not affect the normal operation of the company. Application for resignation as chairman of the company. During the vacancy of the chairmanship, Zhong Xincai, the vice chairman of the board of directors, performed the duties of the chairman.
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