1 seat is not allowed!

30 people compete for 15 director seats in Shin Kong Gold’s battle for management rights (file photo)

[Reporter Wang Menglun/Taipei Report] Shin Kong Financial Holdings will conduct re-election on June 9 this year. According to the list of director candidates announced on the evening of April 13, as many as 30 candidates competed for the 15 directors. Among them, the former Shin Kong Financial Director Both the Wu Dongjin camp and the Pan-Shin Kong Group (reformist) have proposed 15 seats, and "not one seat will be given up"!

In particular, all financial holdings made profits in the first quarter of this year, and Shin Kong was the only one to suffer a loss, which made this reelection full of topics and uncertainties.

Shin Kong Gold’s director re-election this year was led by the reformist Shin Kong Gold director Hong Shiqi, who jointly issued a statement with Taiwan’s Shin Kong Industrial, Xinsheng, Wangtian Wool Textile, Dongxing Investment and Jiabang Investment, emphasizing that “Shin Kong Gold’s poor management in recent years, performance Unlike the industry, only by reforming the board of directors can radical change be achieved.”

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Hong Shiqi pointed out that this time, Taiwan's Shin Kong Industrial Co., Ltd. called on shareholders who are willing to reform and jointly nominated a total of 15 director candidates (including 3 independent directors) across financial holdings, insurance, banking, securities, law, and financial accounting.

Among them, the reformists competed for 15 candidates for directors. The general directors were nominated by Xinbai Tuipai for 4 seats, Wu Dongming, Hong Shiqi, Wei Baosheng, and Lin Dunren; Dongxing Investment nominated 2 seats for Wu Xinchang and Chen Dingzhong; Hong Qi Co., Ltd. nominated 2 seats are Lai Jinyuan and Lin Ruiyun, Wu Jialu Foundation nominated 1 seat Wu Bangsheng, and 3 independent seats are Chen Huaizhou, Lai Guanzhong and Lin Shimei, a total of 12 people.

As for the independent director candidates, there are three candidates: Chen Yanxi, Zhang Rongfeng and Jian Minqiu.

The outside world believes that in addition to the original director Hong Shiqi's camp, Wu Dongliang's people and influence are more important to the reformists. To this, Taishin Kim responded briefly, saying that the reelection of Shin Kong Gold's directors has nothing to do with the company.

As for Wu Dongjin, the former board member who is "ready for battle", this time he is also confident that he will be nominated for 12 common directors, including: Li Zengchang, Pan Bozheng, and Wu Xinru nominated for 3 seats by Wu Huoshi Cultural and Educational Foundation; 3 seats nominated by Yingying Investment Guo Siting, Zheng Shiyi and Fang Zhengpei; Xincheng Investment nominated Wu Xindong for one seat, Wu Dongjin Foundation nominated Peng Yumin for one seat; Shin Kong Mitsukoshi nominated two seats for Wu Xinda and Lai Huimin; in addition, Qiu Liquan and Su Zhesheng were nominated.

As for the three independent director candidates, they are Xu Yongming, Luo Jiaxi and Liang Wenjing.

People in the financial industry said that the re-election of Shin Kong Gold will not only affect whether the management rights will change or be shaken, but will also affect the subsequent merger of Shin Kong Gold and Taishin Gold. I know it's very intense."

Prior to this, on March 29th, Shin Kong Mitsukoshi Department Store was re-elected. Due to the successful conclusion of the dispute between uncles and nieces, Wu Dongsheng, the chairman of Xinxian (the fourth in the family) who was an uncle, won the chairmanship. The outside world has interpreted that it will be beneficial. Wu Dongjin, the eldest in the Yu family, continues to control the management rights of Shin Kong Gold, that is, through controlling department stores and consolidating the financial holding business.

However, some market participants believe that Shin Kong Mitsukoshi holds only about 3% of the shares of Shin Kong Gold, which will not have any effect on the overall situation of this year’s director reelection. After all, more than 50% of Shin Kong Gold’s shareholder structure is ordinary shareholders and 20% It is foreign capital, which adds up to more than 70%. In particular, "Shin Kong Gold actually suffered a loss in the first quarter of this year, which was beyond market expectations. This will definitely affect the results of the director election."

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