On October 22, A-share listed company Kane shares (002012.SZ) fell sharply today, falling more than 8% intraday. However, as of the close, the stock price rebounded, down 6.42%, closing at 5.25 yuan / share, the latest total market value of 2.455 billion yuan.
Earlier, on the evening of the previous day, Kane shares had announced that recently, the company could not get in touch with director Wang Bailang. "As of now, the company has not been informed of the specific reason."
According to the official website information, Cairn shares can be traced back to the Kaicheng Paper Factory opened in 1940, and after decades of development, it has now become a leading enterprise in the domestic specialty paper industry and the world's largest electrolytic capacitor paper manufacturer. The company was listed on the Shenzhen Stock Exchange in 2004.
According to previous media reports, at that time, Wang Bailang, as a well-known local entrepreneur in Lishui, Zhejiang Province, and the then chairman of Cairn Group, single-handedly led the listing of Cairn shares. After the listing of Kane shares, Wang Bailang once became the actual controller of the listed company.
However, in 2016, Suzhou Hengyu Liuhe Investment Partnership (Limited Partnership) (hereinafter referred to as "Hengyu Liuhe") acquired 90% of the equity of Cairn Group, the controlling shareholder of Cairn Shares. In this context, the actual controller of Kane shares was changed from Wang Bailang and his co-actors to Cai Yang, the actual controller of Hengyu Liuhe.
After nearly three years, the actual controller of Kane shares changed hands again. In 2019, after a series of capital operations, Xie Zhikun, the head of the Zhongzhi department, succeeded Cai Yang as the new actual controller of Cairn Shares.
It is worth mentioning that although the actual controller of Kane shares has changed hands several times, the original actual controller Wang Bailang still serves as a director of the listed company. (Text| AI Finance & Economics Summer)