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Original title: Going straight to the general meeting of shareholders | Lanhai Medical said that it will formulate a five-year plan for the resumption of listing Shareholders are most concerned about the whereabouts of Chairman Mi Chunlei
◎Because the company’s chairman Mi Chunlei is still unable to perform his duties normally, the 2021 annual general meeting of Lanhai Medical will be chaired by acting chairman Ni Xiaowei. In fact, Mi Chunlei, the actual controller and chairman of Lanhai Medical, has been missing since the beginning of 2022, which has become one of the most concerned issues for the company’s shareholders.
◎Lanhai Medical responded that although it has repeatedly verified and understood the situation with the controlling shareholder and Mi Chunlei’s family, so far, it has not learned any information about the chairman Mi Chunlei “should be disclosed but not disclosed”.
Every reporter Xu Libo Every editor Dong Xingsheng
Few of the listed company’s annual general meeting likedelisted maritime doctors(Protection) (SH600896, stock price of 0.96 yuan, market value of 980 million yuan; hereinafter referred to as “Lanhai Medical”), the whereabouts of the company’s chairman has become the most concerned issue for shareholders.
On June 30, Lanhai Medical held its 2021 annual general meeting online. Since the company’s chairman Mi Chunlei is still unable to perform his duties, the meeting was chaired by acting chairman Ni Xiaowei. In fact, Mi Chunlei, the actual controller and chairman of Lanhai Medical, has been missing since the beginning of 2022, which has become one of the most concerned issues for the company’s shareholders.
At the general meeting of shareholders, Lanhai Medical responded that although it has repeatedly verified and understood the situation with the controlling shareholder and Mi Chunlei’s family, so far, it has not learned any information about the chairman Mi Chunlei “should be disclosed but not disclosed”.
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36 shareholders asked 136 questions
At this general meeting of shareholders, Lanhai Medical received a total of 136 questions from 36 shareholders. After sorting out, the company concentrated these questions into six areas and responded.
According to the live recording provided by the shareholders attending the meeting to the reporter of “Daily Economic News”, one of the issues that shareholders are most concerned about is the performance of the company’s chairman Mi Chunlei.
On May 27, the twenty-third (provisional) meeting of the tenth board of directors held by Lanhai Medical decided that Ni Xiaowei, the company’s director, will act as the chairman of the company until July 6, 2022. “Since Mr. Mi Chunlei is a director nominated by the controlling shareholder, and his authorization will expire in early July, the company has sent a letter to the controlling shareholder to ask whether Mr. Mi Chunlei can perform his duties normally after the expiry of the previous authorization, including whether Follow-up arrangements such as nomination of new directors have not yet received a reply.” Ni Xiaowei, acting chairman of Lanhai Medical, responded.
One of the reasons why Lanhai Medical was terminated by the Shanghai Stock Exchange was that the company’s 2021 financial and accounting report was issued by Hexin Certified Public Accountants with a qualified audit report. In this regard, Ni Xiaowei seems to still have “quite complaints”, he said at the shareholders’ meeting: “The company believes that, in the absence of the need for further cooperation and provision of materials, and also agreeing with the company’s degree of cooperation (under the circumstance), Hexin Certified Public Accountants will still use the Failure to obtain adequate and appropriate audit basis (justification) to issue an audit report with qualified opinion is a manifestation of lack of due diligence.”
In fact, Lanhai Medical also explained and defended the above situation at the previous hearing, and applied for a re-audit by the company hired by the company or by another accounting firm designated by the Shanghai Stock Exchange.
It is understood that the 2021 annual audit report of Lanhai Medical issued by Hexin Certified Public Accountants shows that the basis for forming a qualified opinion mainly includes: the recognition of income, the occupation of non-operating funds of related parties and the recoverability of the company’s claims on Hefeng Hospital, The joint venture’s equity is frozen, etc. At the shareholders meeting, Ni Xiaowei made the latest response to these issues.
He said that, first of all, the 575 million yuan of funds occupied by the major shareholder Lanhai Holdings and the corresponding interest of 109 million yuan have been returned on June 7, 2022.
Secondly, Lanhai Medical has discussed many times with the controlling shareholder and the state-owned shareholders of Hefeng Hospital, and plans to solve the problem by selling the equity of Hefeng Hospital, creditor’s rights or requiring Hefeng Hospital to raise funds for repayment by itself; The focus will be on the recovery of Hefeng Hospital’s creditor’s rights, and the interest will be charged at an annualized rate of 6% before the settlement.
Third, regarding the freezing of 49% of Chengjiang Yihe’s equity (corresponding to a capital contribution of 127 million yuan), the company is currently entrusting a lawyer to go to Yunnan to submit a supervision procedure to the relevant supervisory authority, requesting the case-handling authority to lift the freezing and seizure.
The next five-year development plan will be formulated around the goal of resuming listing
When answering questions from shareholders, Ni Xiaowei also sorted out the company’s current operating status and subsequent development.
He revealed that Lanhai Orthopaedic Hospital officially started construction on December 27, 2018. Due to the impact of the epidemic in Shanghai this year, the construction of the Orthopaedic Hospital was delayed. The company applied for resumption of work twice in mid-May and June 10, respectively. It is still awaiting government approval. “The company strives to complete the orthopaedic hospital and put it into trial operation by the end of 2023.”
In addition, Lanhai Clinic, Yihe Lanhai Clinic, and Lanhai Rehabilitation Hospital resumed operations on June 1, June 3, and June 20, respectively. Ni Xiaowei said that this year, the Lanhai Outpatient Department will open four new services: adding health butler services, providing private and general practitioner services, and expanding high-net-worth clients; taking children’s vision as an entry point, increasing optometry services; introducing top-three hospitals The team of experts formed a linkage with the Yihe Lanhai Clinic to carry out medical beauty shaping business; in the second half of the year, 15 beds will be laid to carry out PD-1 tumor immunotherapy services.
Finally, Ni Xiaowei said that the resumption of listing is the goal and direction of the company’s efforts. According to relevant regulations, if the situation of the company’s stock delisting has been eliminated, and it meets the requirements of financial indicators such as revenue, profit, and cash flow for resumption of listing, it can apply to the Stock Exchange for re-listing. Focusing on the goal of resuming listing, Lanhai Medical will formulate a development plan for the next five years.
It is worth noting that despite the imminent delisting, Lanhai Medical still announced on the evening of June 27 that it had submitted a review application to the Stock Exchange in order to make a “last shot”.
But at present, in the eyes of many shareholders who have suffered heavy losses due to the delisting of Lanhai Medical, such a plan seems to be more like a “blank check”, and the effect remains to be verified later. A Lanhai Medical shareholder told reporters after the meeting: “After all, companies that can re-list are a minority among the few. Even if they can re-list after 5 years, how many 5 years will there be in life?”
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Responsible editor: He Songlin