The Shanghai Stock Exchange responds to media concerns and inquiries about Hainan Coconut Island, the company: the new and honest controller has released the joint investment

　　The change of ownership of the real controller of Yedao Island in Hainan has made new progress, and the close relationship between the new and honest controllers has also been officially confirmed by the company.

　　Recently, Hainan Coconut Island, which is actually controlled by Feng Biao, the actual controller of the well-known Niusan and "Oriental Department", plans to change the actual controller through fixed increase.

However, the close relationship between the company's new and old controllers and the status of the company's control rights have aroused doubts from the outside world.

　　On December 5, China Business News published "Really Changing Owners or Changing "Vests"?"

Unraveling the Mystery of the Change of Control of Hainan Coconut Island", which reported the fact that Feng Biao, the actual controller of Hainan Coconut Island, and Wang Xiaoqing, the new actual controller, used to be partners.

On December 6, Hainan Coconut Island received an inquiry letter from the Shanghai Stock Exchange, asking the company to provide additional information on the relationship between the new and honest controllers and whether there is a drawer agreement.

　　On December 8, Hainan Coconut Island announced its response to the inquiry letter.

It is confirmed that Feng Biao and Wang Xiaoqing once jointly invested in Hainan Xintang and Haikou Huixiang, and it was not until November 2022 that Feng Biao withdrew from the investment in Hainan Xintang and Haikou Huixiang.

However, the company also added: "Except for the above circumstances, there is no related relationship between Feng Biao and Hainan Xintang and Wang Xiaoqing."

　　Hainan Yedao also stated that "the company's board of directors has fully reminded the controlling shareholder Dongfang Junsheng and the actual controller Feng Biao to perform shareholder rights legally and compliantly, and must not use the special status of the controlling shareholder or actual controller to damage the interests of listed companies and shareholders."

　　Publish the plan and cancel the cooperation "front and back"

　　The real relationship between the old and new controllers has undoubtedly become the key to the success or failure of Hainan Coconut Island’s fixed increase, and the key change in the relationship between the two occurred in the few days around November 27.

　　On November 27, Hainan Coconut Island disclosed the fixed increase plan. Wang Xiaoqing, the current chairman of the company, planned to invest 654 million yuan through Hainan Xintang Trading Partnership (Limited Partnership) (hereinafter referred to as Hainan Xintang), which is actually controlled by him, to subscribe for non-public 81 million shares were issued, and he once held part of the company's equity through Haikou Huixiang Health Consulting Service Center (Limited Partnership) (hereinafter referred to as "Haikou Huixiang").

After the completion of the non-public offering of shares, Wang Xiaoqing will control 18.34% of the shares of Hainan Yedao through Hainan Xintang and Haikou Huixiang, and the actual controller of the company will be changed from Feng Biao to Wang Xiaoqing.

　　Previously, multiple investigations by reporters from China Business News found that Wang Xiaoqing and Feng Biao were fellow villagers in Nanchong, Sichuan, and they were partners in cooperation.

In addition, Wang Xiaoqing actually controls and holds shareholding platforms Hainan Xintang and Haikou Huixiang in Coconut Island, Hainan. Before that, Feng Biao served as a shareholder or founding shareholder of these two companies.

　　It is worth noting that Feng Biao withdrew from the list of shareholders of Hainan Xintang and Haikou Huixiang a few days before and after the disclosure of the fixed increase plan. The shareholder structure of the two companies further changed, and most of the equity was concentrated under the name of Wang Xiaoqing. .

　　According to industry and commerce data, Feng Biao withdrew from Hainan Xintang on November 21, 6 days before the scheduled increase.

Feng Biao's withdrawal from Haikou Huixiang's equity was changed on November 28, which is the second day after the release of the fixed increase plan.

　　The inquiry letter from the Shanghai Stock Exchange pointed out that before and after the disclosure of the fixed increase plan, the shareholding structures of Hainan Xintang and Haikou Huixiang (these) companies changed. Feng Biao, the actual controller of the company, completely withdrew from the two institutions. rise.

At present, the company's controlling shareholder Beijing Dongfang Junsheng Investment Management Co., Ltd. (hereinafter referred to as: Dongfang Junsheng) has all the company's equity held by it, and Feng Biao, the company's actual controller, has been listed as a dishonest person subject to enforcement. , after the completion of the company's non-public offering of shares, the actual controller has not changed".

　　The Shanghai Stock Exchange requires Hainan Coconut Island to make additional disclosures: First, explain the plan for this non-public offering of shares in light of changes in the equity structure of Hainan Xintang and Haikou Huixiang, Feng Biao was listed as a dishonest person subject to enforcement, and Wang Xiaoqing’s resume and background, etc. Whether there is a situation where Feng Biao has been listed as a dishonest person subject to execution and is not qualified as an acquirer and is represented by others, whether there are potential interest arrangements or drawer agreements, and whether there are other undisclosed matters that should be disclosed; second, Hainan Xintang and Wang Xiaoqing Feng Biao and Feng Biao, whether there is any relationship between them, and whether the specific source of funds for Hainan Xintang's subscription of this non-public offering of shares is related to Feng Biao; Feng Biao, Wang Xiaoqing, and Hainan Xintang are invited to express their opinions.

　　Talking about whether there is a relationship among Hainan Xintang, Wang Xiaoqing, and Feng Biao, Hainan Yedao stated that Wang Xiaoqing is the actual controller of Hainan Xintang and Haikou Huixiang.

Feng Biao and Wang Xiaoqing once jointly invested in Hainan Xintang and Haikou Huixiang. As of November 2022, Feng Biao has withdrawn from the investment in Hainan Xintang and Haikou Huixiang. There is no relationship between Xiaoqing."

　　Regarding the reasons why Feng Biao withdrew from investing in Hainan Xintang and Haikou Huixiang.

Hainan Yedao said that because the controlling shareholder Dongfang Junsheng's shares in Hainan Yedao have been pledged and frozen, there are unstable factors in the control of listed companies.

If Hainan Yedao’s non-public offering of shares can be implemented, it can improve the financial structure of the listed company, ease the financial pressure, and at the same time adjust the control of the listed company to ensure the stability of the company’s control, which is conducive to the long-term operation and sustainable development of the company. Able to safeguard and guarantee the rights and interests of shareholders.

　　In addition, regarding the specific source of funds for Hainan Xintang's subscription of this non-public offering of shares, whether it is related to Feng Biao.

Hainan Yedao also stated that Hainan Xintang’s share subscription funds come from Wang Xiaoqing’s own funds and legal self-raised funds, including loans from financial institutions and loans from Wang Xiaoqing’s other affiliated companies. “Hainan Xintang, Wang Xiaoqing and Feng Biao have all Issued a commitment that Hainan Xintang’s subscription for Hainan Yedao’s non-public offering of shares did not come from Feng Biao and his affiliated companies.”

　　Hainan Yedao stated that the company’s non-public offering of shares does not have the situation that Feng Biao has been listed as a dishonest executor who is not qualified as an acquirer and is represented by others, and there is no potential interest arrangement between Wang Xiaoqing and Feng Biao or the drawer agreement, and there are no other matters that should be disclosed but not disclosed.

　　Fixed increase and auction, control rights have two major variables

　　Since 2018, due to capital chain problems, Feng Biao and his subsidiary Dongfang Junsheng have encountered dozens of lawsuits. All the shares he held in Hainan Coconut Island have been frozen by multiple courts for several rounds, and he has also been listed as dishonest many times. The list of executors, the consequences of high leverage financing in the past are gradually revealed.

　　According to a reporter from China Business News, this is not the first time that Feng Biao has announced a change in the actual controller since he took over Hainan Coconut Island.

As early as 2019, there was a change in the actual controller of the company in Yedao, Hainan, but in the end the control of the company returned to Feng Biao.

　　The Shanghai Stock Exchange’s inquiry letter expressed concern that the company’s control rights have changed twice since 2019. After Feng Biao gave up control rights, he sought control rights again.

　　And recently on December 3, Hainan Coconut Island announced that the Guiyang Intermediate People's Court will auction the company held by Dongfang Junsheng on the "Taobao Judicial Auction Network" from 10:00 on December 31, 2022 to 10:00 on January 1, 2023. 16.84% of the shares, if all or part of this auction is successful, it may lead to changes in the company's controlling shareholder and actual controller.

　　The Shanghai Stock Exchange requires Hainan Coconut Island to make additional disclosures: First, in combination with the controlling shareholder’s equity auction and the shareholders’ general meeting’s consideration of the non-public offering of stock proposals, etc., explain the current specific status of the company’s control rights, and fully remind the risk of stability of control rights; For changes in the company's control rights, the company's controlling shareholders and actual controllers are requested to perform shareholder rights in accordance with laws and regulations, and the board of directors is requested to perform their duties diligently to ensure the stability of the listed company's control rights and clarify investor expectations.

　　At present, the above-mentioned foreclosure has not yet been carried out. Hainan Yedao said, "If all or part of this auction is finally sold, it may lead to changes in the company's controlling shareholder and actual controller."

　　In addition, the non-public offering of shares is still going through procedures.

The non-public offering of shares will be submitted to the general meeting of shareholders to be held on December 13 for consideration, and also needs to be approved and issued by the China Securities Regulatory Commission.

　　Hainan Yedao replied to the Shanghai Stock Exchange stating that the company’s non-public offering of shares and the auction of Hainan Yedao’s shares held by Dongfang Junsheng may lead to changes in the company’s control rights, and changes in control rights will also affect the company to a certain extent. The future operation and development of the company.

　　"The company's board of directors has fully reminded the controlling shareholder Dongfang Junsheng and the actual controller Feng Biao to perform shareholder rights legally and compliantly, and must not use the special status of the controlling shareholder or actual controller to damage the interests of listed companies and shareholders. At the same time, the board of directors will also be diligent and responsible. Pay attention to changes in relevant matters, fulfill information disclosure obligations in a timely manner, and actively promote the favorable development of relevant matters.” Hainan Yedao said.