On Haisheng Ao Kong (Holdings) Limited (hereinafter referred to as "Haisheng Ao") shareholders Shiguang Jiang to other shareholders of the company and Jiangsu Sinorgchem Technology Co., Ltd. (hereinafter referred to as "Jiangsu Sunon") for the defendant, filed related to dozens of billion in assets attributable to a series of proceedings. The series of cases has been accepted in a court for the Shanghai and Shanghai Pudong court, and will be held in April after another hearing.A total of four series of lawsuits from its core claims are to request the court to order Haisheng Ao Jiangsu Sunon signed an equity transfer agreement to be invalid agreement, object of the contract involved a total of nearly 300 million yuan. At the same time as it relates to the Jiangsu Sunon world's largest rubber antioxidant manufacturing enterprises involved in the case of assets of several billion dollars.According to public information, in 2008, Jiangsu Sunon operating income of more than 2.5 billion yuan, profits and taxes totaling more than 600 million yuan.According to Sunon, former CEO of Jiangsu, on Haisheng Ao president, shareholders Wang Nongyue on Haisheng Ao was commissioned by a well-known assessment firm in Beijing in accordance with international rules on the Sunon intellectual property been assessed, alone its worth over 30 billion million.The four lawsuits, cause of action are: the company's controlling shareholder, actual controller, directors, supervisors and senior management to damage the interests of the company and compensation disputes, and will be on Haisheng Ao as the third person.On Haisheng Ao was originally a domestic business of rubber chemicals-scale enterprise group, this involved "Taianshengao Chemical Co., Ltd., Tongling City Xinda Chemical Co., Ltd., Lanxi City Qiantang synthesis of new materials, Hai Shengao Kong (Holdings ) Shiyan Chemical Co., Ltd. Department Haisheng Ao holding directly or indirectly controlled enterprises, and constitutes the main business on Haisheng Ao.Carlyle holds 40% stake in Jiangsu Sunon on Haisheng Ao has its above-mentioned four companies of all productive assets transferred to Jiangsu Sunon, the Hai Shengao no longer a specific business Therefore, the results of the trial of the case, will also be decided whether the U.S. Carlyle's investment in Jiangsu Sunon continue to follow.Shiguang Jiang told First Financial Daily "reporters, the equity transfer of related party transactions will not only be on Haisheng Ao has the property of the form changes, and the appropriate transfer price is also significantly lower than the actual value, thus impairing on Hai Shengao to interests. He also said that the rights of shareholders, has been excluded on the Hai Shengao a 40 percent stake for sale to Carlyle, and no longer able to express their views.Jiangsu Sunon 40% stake in the Carlyle reporter has learned that Wang Hao will be its voting rights in Jiangsu Sunon price of 176 million yuan to sell to Carlyle, making Kay mine completely control Jiangsu Sheng'ao.The reporter called Jiangsu Sunon public relations director, Mr. Chen Qi. Mr. Chen told reporters that already knows Dan Guangjiang sued the Shiguang Jiang prosecution is his right. During the proceedings, Jiangsu Sunon will do a good job responding. Jiangsu Sunon from the establishment to the present business, in line with national laws and regulations. (Cases) is still the people's court proceedings, the company to comment.Previously, China Chemical Industry Association on August 11, 2009, specifically on the Sunon event submissions to the Ministry of Public Security, Ministry of Commerce, Business Administration, emphasizing the the Sunon event if they are not taken seriously, "will produce the destruction of rubber antioxidant industry blow, and directly affect the economic security of China's rubber and tire industry. "
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