Wu Changjiang will return to NVC Lighting Board as Executive Director

NVC Lighting (02222.HK) announced on the afternoon of June 4 that the company's founder Wu Changjiang will return to the NVC Lighting Board and become an executive director.

Wu Changjiang has been elected as a candidate for the new director of NVC Lighting. At the same time, he was recommended by Wang Dongming, the younger brother of NVC Lighting's current chairman Wang Donglei, and Wu Ling, who has many years of experience in LED lighting.

On June 21, NVC Lighting will convene an annual general meeting, and the election of these new director candidates will be announced.

In the middle of last year, Wu Changjiang once left the NVC lighting board and management, and NVC lighting experienced a storm. In December last year, Wu Changjiang transferred some of his shares to Dehao Runda (002005), helping Dehao Run to become the new major shareholder of NVC Lighting, ending the pattern of equal share among NVC's major shareholders. In return, Wu Changjiang will be the second largest shareholder of Dehao Runda by subscribing to the non-public offering of shares of Dehao Runda.

The industry believes that Wu Changjiang’s move is to “return to retreat” and return to the NVC lighting management and board of directors with external force. Sure enough, in January of this year, Wu Changjiang was re-appointed as CEO of NVC Lighting. In April of this year, Wang Donglei, the chairman of Dehao Runda, took over and became the new chairman of NVC Lighting. This paved the way for Wu Changjiang to return to the board of directors.

By the end of June, NVC Lighting’s board of directors will “face”. Wu Changjiang and Wang Dongming have been recommended as executive directors of the company, and Wu Ling has been recommended as an independent non-executive director. Wu Yu, the executive director and vice president of NVC, is no longer recommended as a director. Even so, plus the chairman Wang Donglei, the "pro-wu faction" has accounted for half of the NVC lighting board.

This does not mean that there is no checks and balances between Wang Donglei and Wu Changjiang. Wang Dongming is a clever piece. Wu Changyong, the younger brother of Wu Changjiang, is the vice president of NVC Lighting, responsible for procurement and logistics management. In the past, Wang Dongming has been assisting his brother Wang Donglei to manage the business of Dehao Runda. He is currently the executive director, deputy general manager and financial controller of Dehao Runda. Once Wang Dongming was elected as the executive director of NVC Lighting, he could also help Wang Donglei to strengthen the supervision of NVC lighting operations and finance.

Introducing Dehao Runda, Wu Changjiang's other important intention is to promote NVC lighting to accelerate the transformation to LED. Dehao Runda's LED chips can form an upstream and downstream industry chain with NVC Lighting's application products and sales channels. Wu Ling became the new director candidate of NVC Lighting, and also reflected the enthusiasm of NVC lighting transformation.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)

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