May 01, 2024

Luxiao Technology misappropriated funds or faced claims

The author learned from a domestic securities rights lawyer yesterday that the “sapphire concept stock” Lu Xiao Technology was appraised by the China Securities Regulatory Commission for misappropriation of funds raised due to violation of regulations and the information disclosure violation. The lawyer is currently collecting collective claims from investors.

Wu Lijun, a securities attorney at Shanghai Oriental Cambridge Law Firm, told the author that Lu Xiao Technology used the method of multiple endorsements by bill of exchange to illegally transfer the funds to the bank account of the controlling shareholder of Luxiao Technology, which is not in line with the use of raised funds. It is stipulated that there are false statements in the special reports of years of annual reports and the use of raised funds.

"The violation of securities laws and regulations by Lu Xiao Technology may directly affect the performance of the stock price, resulting in the loss of some Lu Xiao technology investors." Wu Lijun said that this is the main basis for this claim.

Lu Xiao Technology’s previously announced announcement shows that on November 27, 2012 and December 12, 2012, Luxiao Technology’s wholly-owned subsidiary Zhejiang Luxiao Electronic Wire Co., Ltd. raised funds to supervise the special account of 20.5 million yuan and 9.5 million yuan. The bill of exchange was transferred indirectly to the account of Luxiao Group Co., Ltd. through the endorsement of the construction unit, totaling 30 million yuan. After the incident, Luxiao Group Co., Ltd. took the initiative to return the above funds of 30 million yuan and interest to the company on July 21, 2014.

At the beginning of September, Luxiao Technology received a notice from the CSRC to investigate the case. The company said in the announcement that the reason for the investigation may be that the company misappropriated the raised funds of 30 million yuan from the controlling shareholder. On August 28, before the investigation notice was issued, Luxiao Technology also insisted: "The company does not have any irregularities in the management of raised funds."

The main shareholder of Luxiao Technology is Luxiao Group, which holds 78 million shares, accounting for 43.33%, and is the controlling shareholder of Luxiao Technology.

Wu Lijun said that if you buy and hold between November 27, 2012 and September 9, 2014, investors who have lost their shares after the resumption of trading can apply for a collective claim. After the CSRC issues an administrative penalty to Lu Xiao Technology, a claim lawsuit will be filed with the court.

Luxiao Technology was originally a company engaged in the production of electromagnetic wires. Since its listing in 2011, the stock price has been broken. However, after the news of the company's involvement in the sapphire concept came out at the end of 2013, Luxiao Technology's share price soared three times. The stock hit a new high in two months on August 29, but the Apple iPhone 6 did not use sapphire glass news. Next, the company's share price has been falling continuously in recent days, closing at 25.10 yuan on the 18th.

Three-axis Smartphone Stabilizer is composed of pan axis, rolling axis and tilt-axis. With a gyro-stabilized gimbal system, it keeps stabilized or steerable horizon with automatic calibration to give you an unprecedented smooth shooting experience.

 3 axis stabilizing hanheld gimbal

Three-Axis Smartphone Stabilizer is born for video lovers. it stabilizers the video footage horizontally, without sacrificing the thrill of dynamic motion in the video.

 iphone gimbal stabilizer

Wewow focusing on handheld stabilizer is a technology company which does R & D independently. With Wenpod series product released, the company achieved the industry's praise and quickly became the leader of the smart stabilizer industry.

 

Our service

 

1. Reply to you within 24 hours.

 

2. Already sample: within 1-2days.

 

3. Shipping date: within 24 hours once get the payment.

 

4. 12 months warranty.

 

5. After-sales service, solve within 3 working dates.


If you have any questions, please contact with us directly.

Wewow appreciates domestic and international business relationship!

Three-axis Smartphone Stabilizer

Three-Axis Smartphone Stabilizer,3 Axis Handheld Gimbal For Smartphone,Smartphone Gimbal For Cell Phone,Three-Axis Stabilizer For Smartphone

GUANGZHOU WEWOW ELECTRONIC CO., LTD. , https://www.stabilizers.pl