If there are not too many surprises, starting from the vote of the shareholders’ meeting on the 18th of next month, there will be no "Macro" listed company in China's A-share market. Although it is an industry joke that the listed company Macro does not own the "Macro" trademark in the first place, the whole process of the listed company Macro no longer being called "Macro" is even more dramatic.
Listed company Macro announced on December 29 that it plans to change the company’s full name and securities abbreviation. The full name of the company after the change will be “Guangdong Shunna Electric Co., Ltd.” and the securities abbreviation after the change will be "Shun Na Electric" will no longer have the word "Macro" on it. According to the company's announcement, the company recently received a "letter from Macro Gas Appliances regarding stopping the use of the "Macro" trademark and urging the company to change its trade name." The name change of a listed company is actually very common, but there are many twists and turns behind the name change of the listed company Macro, and it is even closely related to a series of negative events such as the arrest of the chairman and the seizure of subsidiaries.
The loss of contact of the chairman of the listed company led to two "Macro"
The origin of this name change event also begins with the disappearance of Chen Huan, the chairman of the listed company Macro, in October this year. On October 22 this year, the listed company Macro issued an "Announcement on the Seizure of the Office Site of its Holding Subsidiary", stating that the office space and some items of the company's main holding subsidiary Zhejiang Hansheng Xiechuang Industrial Co., Ltd. were seized by the Public Security Bureau, and the basic deposit The account has been frozen, Zhejiang Hansheng has been unable to carry out normal business activities, and the time to resume operations has not been determined, which may have a negative impact on the company's operating performance, so investors are reminded of investment risks. The announcement also mentioned that Macro Co., Ltd. is currently unable to get in touch with chairman Chen Huan (also chairman of Zhejiang Hansheng).
Public information shows that Chen Huan is only 31 years old and has a master's degree. He personally holds 40% of Zhejiang Hansheng's shares, and the other 60% is held by the listed company Macro.
The news that Macro’s chairman lost contact immediately aroused public concern. And more people associate Macro with the well-known advertising slogan of "Macro, Le Macro". Macro once produced China's first instantaneous gas water heater, and it has been the number one brand of gas water heaters in China for a long time. In particular, the "Macro, Le Macro" advertisement was spread all over the country on television, and Macro ushered in its most glorious period. It is precisely for this reason that the seizure of Macro's subsidiary and the disappearance of the chairman of the listed company have aroused great concern. However, soon the Macro Gas Appliance Company, which produces Macro water heaters, issued a statement saying, "This Macro is not that Macro."
Macro Gas Appliances Company stated that some people in the society confused Macro Co., Ltd., which was involved in the accident, with Macro Gas Appliances Co., Ltd., which produces gas appliances, and even appeared such as "Director of Macro, a kitchen appliance company" Media reports such as "Long Lost Contact" have had a negative impact on the company.
So why is there such an embarrassment that “this Macro is not that Macro”? According to a reporter from Beiqing Daily, Macro Gas Appliances Co., Ltd. and the listed company Macro Co., Ltd. did have a relationship many years ago. However, in November 2016, Macro Gas Appliances Co., Ltd. was reorganized and spun off from the listed company. Since then, Macro Co., Ltd., the listed company, has retained the original "Macro" corporate trade name and listed company abbreviation, but does not own the "Macro" trademark. There is no affiliation or holding relationship with Macro Gas Appliances Co., Ltd. At present, the operation, management, main business and products of the two parties are not related in any way. Macro Gas Appliances Co., Ltd. is currently a large-scale high-tech enterprise specializing in the manufacturing and sales of gas water heaters, wall-mounted boilers, electric water heaters, stoves, range hoods, disinfection cabinets and other kitchen and bathroom appliances. It owns the "Macro" text and graphic trademarks. According to the public information of the listed company Macro Co., Ltd., its current main products are power transmission and distribution equipment, with the trademark "Shunte" and does not use the "Macro" trademark.
The arrest of the chairman of "Macro" triggered the "collapse" of the subsidiary
While outsiders have not yet fully understood the two "Macro", the situation of the listed company Macro is still Keep getting worse. On December 19, two months after Chen Huan, chairman of the listed company Macro, disappeared, the company officially issued an announcement confirming that Chen Huan had been arrested. As a result, a series of cases involving Macro's "explosion" of P2P were also exposed. According to a reporter from Beiqing Daily, Macro’s incident was affected by the P2P “explosion” grassroots investment case, and this case has been classified as a major P2P case. At present, its impact on the listed company Macro is almost devastating. .
According to the information disclosed by the listed company Macro, due to the stagnation of production and operation and deterioration of the financial situation of its holding subsidiary Zhejiang Hansheng, the company’s investment and debt payments in Zhejiang Hansheng are difficult to recover, and it agrees to repay Zhejiang Hansheng’s Provision for full impairment of investments and debts will reduce Macro's 2018 profit by RMB 794 million.
The information disclosed by Macro last week showed that the company’s basic bank account opened with the Industrial and Commercial Bank of China has been frozen. In addition, according to the company’s online banking inquiry and verbal notification from the bank, the company’s holding subsidiary Zhejiang The bank accounts opened by Zhoushan Qiansheng Industrial Co., Ltd. and Hangzhou Yusheng Industrial Co., Ltd. at the Industrial and Commercial Bank of China of Hansheng Xiechuang Industrial Co., Ltd. were also frozen. The company's bank account was frozen this time due to a case involving Maike Futures Co., Ltd. suing Zhejiang Hansheng, the company, Chen Huan and Zong Beilei over a loan dispute. The amount involved was 22.11 million yuan. Since there are many doubts about the use and whereabouts of the funds involved, it is still uncertain whether the company needs to bear legal responsibility.
A series of events have brought Zhejiang Hansheng Xiechuang Industrial Co., Ltd., a subsidiary of Macro, on the verge of liquidation. According to people familiar with the matter, since the grassroots investment case involving Zhejiang Hansheng is an important case on the Hangzhou P2P platform, it is currently difficult for the company to predict when it can resume production and operations and the company is no longer solvent. Therefore, the company's shareholder, Dongzang Xinyeda Trading Co., Ltd., proposed the liquidation of Zhejiang Hansheng after full communication with members of the company's operation and management committee. This matter has been reviewed and approved by the company’s second extraordinary shareholders’ meeting in 2018. However, although the shareholders' meeting has reviewed and approved the liquidation of Zhejiang Hansheng, according to the relevant provisions of the "Company Law" and Zhejiang Hansheng's "Articles of Association", the company's dissolution must be passed by a resolution of shareholders representing more than two-thirds of the voting rights. . Currently, the company holds 60 shares of Zhejiang Hansheng, and Chen Huan holds 40 shares of Zhejiang Hansheng. Macro has used Chen Huan's lawyer to bring Zhejiang Hansheng's shareholder resolutions and related documents to the detention center and hand them over to Chen Huan for signature. However, Chen Huan said that he would not sign the relevant documents for the time being, so the company was temporarily unable to advance the liquidation of Zhejiang Hansheng. But at present, it seems that the liquidation of Zhejiang Hansheng should only be a matter of time.
It is also understood that the current chairman and general manager positions of the listed company Macro have been held by the former board secretary Huang Zhixiong. Huang Zhixiong has resigned from the position of secretary to the chairman.
Macro, a listed company that has been in constant trouble, wants to change its name
On December 29, Macro, a listed company that was deeply involved in a series of troubles such as the seizure of subsidiaries and the arrest of its chairman, Announced that it is planning to change its name so that it will no longer drag down the "reputation" of Macro Gas Appliances Co., Ltd.
According to the announcement issued by the listed company Macro, it is planned to change the company's full name and securities abbreviation. The full name of the company after the change will be "Guangdong Shun Na Electric Co., Ltd.", and the changed securities abbreviation will be "Shun Na" Electrical", the securities code remains unchanged. In this regard, Macro explained that the company received a "Letter from Guangdong Macro Gas Appliances Co., Ltd. on stopping the use of the "Macro" trademark and urging the company to change its trade name on December 24." Listed company Macro pointed out that the name change is to adapt to the adjustment of future strategic positioning and the actual development needs of the company, so that the company's strategic positioning can better support the development of the power transmission and distribution equipment business; at the same time, in order to avoid investors and consumers having a negative relationship with the company and Macro Misunderstandings and confusions about the relationship between gas appliances and avoidance of relevant legal risks that may bring to the company can better convey information to the market.
In this regard, Macro also further emphasized that Guangdong Macro Co., Ltd. completed the industrial and commercial change registration procedures for the transfer of Macro gas appliances on December 27, 2016, and no longer has the kitchen and bathroom appliance business. The ownership of the "Macro" trademark has belonged to Macro Gas Appliances since December 16, 2010. This also proves that the previous external statements of Macro Gas Appliances Co., Ltd. are credible from the perspective of listed company announcements.
It is understood that Macro will hold the first extraordinary shareholders meeting of 2019 on the 18th of next month, at which time matters such as name change and removal of Chen Huan as director will be considered. If nothing else happens, both of these items will be passed with a high probability. This means that listed companies that do not originally own the "Macro" trademark will no longer be called "Macro". It's just that this process is too bizarre. From the disclosure of the loss of contact and arrest of the chairman, to the change of name of the listed company Macro, "Macro" is now on the final road to bid farewell to the stock market.