Wu Changjiang used to be "nothing"

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Dehao Runda announced today that the company recently received the "Notice of the Intermediate People's Court of Zhuhai City, Guangdong Province". According to the notice, Zhuhai Intermediate People's Court implemented Tibet Linzhi Huifu Investment Co., Ltd. and New World Strategy (Beijing) Investment Consulting Co., Ltd. to apply for enforcement of Wu Changjiang, Huizhou NVC Lighting Environmental Engineering Co., Ltd., Shandong NVC Lighting Development Co., Ltd. In the past, the star entrepreneur and the founder of NVC Lighting, Wu Changjiang, after being sentenced to jail by the court, the shares of Dehao Runda, which was exchanged for NVC Lighting, will also be auctioned by the court to compensate debt. Dehao Runda announced today that the company recently received the "Notice of the Intermediate People's Court of Zhuhai City, Guangdong Province". According to the notice, Zhuhai Intermediate People's Court implemented Tibet Linzhi Huifu Investment Co., Ltd. and New World Strategy (Beijing) Investment Consulting Co., Ltd. to apply for enforcement of Wu Changjiang, Huizhou NVC Lighting Environmental Engineering Co., Ltd., Shandong NVC Lighting Development Co., Ltd. In the process of the loan dispute, due to Wu Changjiang and other obligations not fulfilled in the effective legal documents, the court decided to auction the 130 million shares of Dehao Runda held by the enforcer Wu Changjiang. Backtracking information, Wu Changjiang obtained the above 130 million shares of Dehao Runda, starting from December 2012. At that time, Wu Changjiang introduced Dehao Runda in order to alleviate the dilemma of NVC lighting funds after the public break with the soft-selling of the Chinese VC godfather. Wu Changjiang transferred most of the shares of NVC Lighting held to Dehao Runda, and Dehao Run became the major shareholder of NVC Lighting. As a consideration, Wu Changjiang subsequently subscribed for the equity of Dehao Runda's private placement, and in June 2014 became the second largest shareholder of Dehao Runda. However, the good times are not long. A physical conflict on August 8, 2014 caused the contradiction between Wu Changjiang and Dehao Runda's actual controller Wang Donglei to surface, and after the escalation of the Wuwang conflict, the judicial system also began to intervene. Since September 2014, Wu Changjiang’s 130 million shares of Dehao Runda have been frozen by the Zhuhai Intermediate People’s Court, the Chongqing High Court, the Huizhou Intermediate People’s Court, and the Chongqing No. 1 Intermediate People’s Court. As time went by, Wu Changjiang was suspected of breaking the law and was gradually found out by the court. Just two weeks ago, on December 21, 2016, the first instance of Huizhou Intermediate People's Court of Guangdong Province, Wu Changjiang was sentenced to 14 years in prison for misappropriation of funds and job embezzlement, and confiscated property of 500,000 yuan, and ordered him to retreat. 3.7 million yuan to the victim unit Chongqing NVC Lighting Co., Ltd. Today, Dehao Runda announced that the Zhuhai Intermediate People's Court intends to conduct a public auction of 130 million shares held by Wu Changjiang on Taobao to repay the debts owed by the executed person. According to the closing price of 5.09 yuan/share of Dehao Runda on January 5, the equity value of this part is 768.3 million yuan. At this time, the first judicial freeze of this part of the equity has been more than two years, during which the market value has shrunk by nearly 30%.

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