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高管被拘疑与MBO有关 2004年12月17日，因涉嫌挪用巨额资金用于个人营利，公司董事长郑俊怀等5名高管被公安机关依法采取刑事拘留。此事件表明自今年7月证监会对公司进行立案调查的工作已基本结束。虽然我们仍无法了解此次调查结果的具体内容，但根据公司国债资金流向，再联系金信信托入主，以及公司第二大股东启元投资公司和第四大股东华世商贸公司的背景，估计此次高管被拘的主要原因在于公司管理层在MBO过程中，存在挪用公司资金达到控股公司的违规操作行为，而并非由于公司经营能力出现问题而产生。且当地政府目前已派政府高层人员进驻公司、公司已安排副董事长李云卿主持董事会日常工作，总裁潘刚全面负责企业经营工作。这将保证公司业务的正常经营，我们认为此事件对公司经营持续性影响应该不大。
Senior executives were arrested on suspicion of MBO On December 17, 2004, five executives, including Zheng Junhuai, chairman of the company, were detained by public security organs for criminal proceedings on suspicion of misappropriating huge sums of money for personal profit-making. This incident shows that since July this year, the CSRC investigation of the company has basically ended. Although we still can not understand the specific content of this survey, according to the flow of corporate treasury bonds, and then contact Kim Shin Trust, and the background of the second largest shareholder Kai Yuan Investment Company and the fourth largest shareholder Huashi commerce and trading company, It is estimated that the main reason for the executives being detained is that the management of the company has misappropriated the company funds to achieve the illegal operation of the holding company in the MBO process and not because of problems in the company’s operation ability. And the local government has now sent senior government officials stationed in the company, the company has arranged for Vice Chairman Li Yunqing presided over the daily work of the board of directors, Pan Gang, president of overall responsibility for business operations. This will ensure the normal operation of the Company’s business and we think the incident should have little impact on the continuity of the operation of the Company.