Photo/Wang Fan (NBD)

(资料图片仅供参考)

The battle between past and present majority shareholders of Jonjee High-tech, namely Zhongshan Huoju Group and Baoneng Investment Group has been going increasingly fierce.

On July 24, in Zhongshan Torch Development Zone, Guangdong Province, on a scorching summer day with the ground burning hot, dozens of security personnel lined up under the blazing sun.

Jonjee High-tech understands that they cannot afford to be complacent today. They have specially hired a security company on the scene.

Since the state-owned shareholder Zhongshan Huoju Group initiated the removal in early July, the atmosphere at Jonjee suddenly became tense. Another shareholder, Baoneng Investment Group, made a public accusation and counterattack, replacing several executives in an attempt to gain more say. The actual controller, Yao Zhenhua, and others also attempted to enter Jonjee but were rejected.

The first extraordinary shareholders" meeting of 2023, held on July 24, was a crucial moment for both sides as they deliberated on the motion to dismiss four directors affiliated with the "Baoneng Investment Group". It was a decisive battle for the shareholders. Such a move is in violation of Jonjee"s articles of association and the board of supervisors" rules of procedure, Zhongshan Runtian Investment, stated the Baoneng unit. 

The shareholder meeting began at 2:30 pm. Baoneng Investment Group did not send anyone to attend the meeting, and Yao Zhenhua did not attend.

The seat was not full in a hall on the second floor of the Zhongshan Torch International Convention and Exhibition Center, which can accommodate hundreds of people. The number of shareholders attending is relatively sparse.

Photo/Wang Fan (NBD)

It is estimated that there are dozens of shareholders attending. The atmosphere on the scene is serious. The number of security personnel is almost equivalent to the number of shareholders attending. Only two people are sitting on the rostrum, namely Jonjee"s supervisor Zheng Yizhao and employee supervisor Mo Hongli. The directors to be dismissed and the candidate directors are not seen.

The meeting was chaired by Zheng Yizhao. After reading the reasons for the dismissal of the directors and the resumes of the candidate directors, he answered the questions of the shareholders on the meeting mode, the selection of the meeting address and the legality and compliance of the procedures. Zheng Yizhao"s answer was very calm, and there was no information output beyond the original announcement content.