Changsheng Bio's vice chairman was sued by Societe Generale for 630 million yuan

In recent days, the changsheng bio-vaccine incident continued to ferment, the risk is affecting major shareholders pledge shares of brokerages.
, which is deeply involved in the ST Changsheng equity pledge crisis, disclosed in an August 6 announcement the prosecution of Changsheng Bio Vice Chairman Zhang Hao, Zhang Wei related matters.
according to the announcement, the names of the parties in the litigation or arbitration are Zhang , Zhang Wei, and the relationship between the parties and the company is the customer. The litigation/arbitration will be accepted on August 1st, and the litigation/arbitration case is a pledge-type securities repurchase dispute with a target of 630 million yuan, and the institution that filed/accepted the arbitration is the Fujian Provincial High People's Court.
data show that ST Changsheng's current total equity pledge is 250 million shares, the equity pledge rate is 25.69 percent, accounting for 61.97 percent of the A-shares in circulation, of which the majority of the pledge party is Henyep Securities.
In the secondary market, ST Changsheng's shares have fallen for 15 consecutive trading days since the opening of the market on July 26, 2018, when the issue came to light.
July 23rd, ST Changsheng announced that Zhang hao, a shareholder of the company, had made three supplementary pledges for his 73.3624 million shares, with the rights per capita being Henyep Securities. On the same day, the Shenzhen Stock Exchange issued a notice that Changsheng Bio's majority shareholder, The Board of Supervisors held shares of the restricted sale processing, which means that the stock even if it fell below the closing line can not be forced to close.
On July 24, Societe Generale announced that yuchen Pan and Zhang hao, two of Changsheng Bio's main shareholders, had an initial transaction value of 0.45 billion yuan and 630 million yuan, respectively Yuchen Pan and zhanga total of 178 million shares of Changsheng Bio, the amount to be purchased back 675 million yuan.
Henyep Securities said at the time, in view of the Changsheng Bio has been the State Drug Administration, the CSRC opened a case investigation, Shenzhen Stock Exchange on Changsheng Bio's major shareholders, the board of directors of high shares of the limited sale, the company will track developments in real time, timely assessment of the impact on the company's operating conditions and make a response.
st permnies face a great risk of de-marketing. On the evening of July 27, the CSRC announced the revision of the de-marketing system: If a listed company constitutes a major violation of the law, fraudulent issuance or disclosure of major information in the field of security, the system of compulsory de-marketing shall be implemented. This is considered by the market to be a strong signal that ST Changsheng is about to exit the market. (Medical Economics)