Fexon Technology Ltd: Good corporate governance
Fexon Technology Ltd reports: First Venture Securities, Ren Wenjie said that the major shareholder of Gree Group Notice the coming year, the reduction was not surprising, after Gree Group has repeatedly reduction of the shares. Gree Group is engaged in a variety of industries, such as real estate development and other capital needs, the plan is likely to continue to sell part of the shares of the reasons.
In his view, Gree Electric itself will continue to focus on air-conditioning industry, the sale of shares, the largest shareholder of the stake reduction, its influence will be reduced, public shareholders will receive a greater right to speak on the future development may not be not a good thing .
Gree Electric in 2008 according to a quarterly, funds, insurance, brokerage, QFII, and other institutional investors holding a total of Gree Electric 250 million shares, or about the total number of shares 30 percent, the proportion of shares held by institutional investors has been evident over Major shareholders of the stake, major shareholders in the future reduction of 4.82 percent stake in the future, on behalf of the interests of public investors the right to speak of institutional investors will increase further. "From the perspective of corporate governance, a number of institutional investors holding the shares decentralized structure compared to a single shareholder is the holding of more healthy and can ensure the company from the interests of all shareholders to make a decision."
Gree Group Chairman Zhu Jianghong in an exclusive interview with this reporter when he said, "Gree Group has established the industry, real estate and port logistics three major business segments, the reduction of Gree Electric shares, is to intensify the other two Segment of the investment. " (Fexon Technology Ltd)
As to whether the reduction would weaken the Gree Electric Group on the issue of control, Zhu Jianghong not worried, "Gree Group is now relatively holding, the ownership structure of listed companies more reasonable, in a more rational decision-making. To improve the company Management structure was very helpful, there will be no major shareholders in order to make their own interests and violation of the laws of the market and harm the interests of small shareholders, the company has a future development of a more active role. "