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In July last year, after the media exposed the related transactions between Foshan Lighting Concealed Company and Chairman Zhong Xincai's family business, the Guangdong Provincial Securities Regulatory Bureau was strongly involved. At the request of the Guangdong Provincial Securities Regulatory Bureau, Zhong Xincai was forced to publicly acknowledge that five companies, including Foshan Schnoch California Electric Co., Ltd., belong to their own relatives. Among them, Foshan Schnoqi California Electric Co., Ltd. is a wholly foreign-owned enterprise invested by Zhong Xinliang, the son of Zhong Xincai; Foshan Slangbai Enterprise Co., Ltd. is a limited liability company with Zhongxinhui’s second son Zhong Yonghui holding 95% equity; Qinghai Power New Energy Materials Co., Ltd. is a 20% affiliate of Slamba; (Hong Kong) Qinghai Sky Rare Element Technology Development Co., Ltd. is a 29% owned company of Zhong Er, and Zhong Yonghui is also a director of the company; Shanghai Liangqi Electric Co., Ltd. It is the company registered by the eldest son Zhong Yongliang in Shanghai. Zhong Yongliang holds 100% of the company.
The Guangdong Securities Regulatory Bureau verified that 15 of the affiliates of Zhong Xincai’s family had a related transaction or related investment with Foshan Lighting. In 2010, Foshan Lighting and Snooker, Shanghai Liangqi, Foshan Shanbang, Nanhai Guangming and other 9 Zhongxin Talents affiliated companies have related transactions related to daily operations, with a total transaction amount of 76.465 million yuan. In 2011, Foshan Lighting and related companies such as Fei Delun, Gao Mingrui Baker, Foshan Shan State and Nanhai Guangming had related transactions related to daily operations, and the transaction amount reached 83.102 million yuan. In addition to daily transactions, Foshan Lighting also has joint investment, related acquisitions, and borrowings with the above-mentioned 15 “Zhongxin Talent†affiliates, and concealed the relationship between the above companies and Foshan Lighting in the relevant credit approval process.
The Guangdong Provincial Securities Regulatory Bureau believes that Foshan Lighting has concealed the relationship with the “Zhongxin Talents†in a number of announcements. In 2010 and 2011, it regularly reported that the information disclosure was illegal. The Securities and Futures Commission issued a warning to Zhong Xincai on the above-mentioned related party transactions and imposed a fine of 150,000 yuan. Foshan Lighting, vice chairman and deputy general manager Liu Xingming, then director and deputy general manager Zhao Yong, then deputy general manager Jie Qing and Wei Bin also have different degrees of punishment.
Zhong Xincai was the chairman and general manager of Foshan Lighting. Until April 2012, he resigned as general manager. He had been in the post for 20 years and was the core figure of Foshan Lighting. At present, Zhong Xincai, 70, still serves as the chairman of Foshan Lighting.
Ren Weijie, a well-known activist investor, said that after the regulatory authorities issued a decision on punishment, what investors need to understand now is whether the above-mentioned hidden related party transactions and related investments are tricky. Whether the pricing of the above related transactions is fair, related investment and related acquisitions In the middle, is there a phenomenon that damages the public fat? Foshan Lighting must then disclose the details of the above-mentioned connected transactions to public investors to show fairness.
( This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED . Readers need to verify the relevant content by themselves. ) 
Foshan Lighting received the administrative punishment decision of Guangdong Securities Regulatory Bureau
On the evening of March 6, Foshan Lighting, which suddenly changed from the capital market “good boy†to “bad guy†in the last three years, announced that it had received the “Administrative Punishment Decision†issued by the Guangdong Provincial Securities Regulatory Bureau. The penalty decision statement disclosed in detail the related transactions and related investment behaviors of Foshan Lighting since 2010, which concealed the company and the company of the chairman of the board of directors Zhong Xincai. Zhong Xincai’s son and other relatives directly or indirectly controlled 15 companies’ related transactions with Foshan Lighting and related investments, and made profits by parasitic on Foshan Lighting.