NVC Lighting announced that according to the pledge agreement signed by Wu Changjiang on behalf of NVC China, NVC China allegedly agreed to provide 100 million yuan pledge guarantee for the loan of a Chinese company. A survey conducted by the company indicates that Gent is a connected person of the company. Therefore, if it is deemed to have legal effect, the pledge agreement constitutes a connected transaction of the company. The company continued to seek legal advice on the impact of a number of pledge agreements signed by Wu Changjiang on behalf of NVC China. In addition, NVC China is taking legal action against Wu and other parties in China, and the company is considering the possibility of taking further legal measures to protect its rights and interests. In addition, from 2009 to 2013, Huizhou NVC authorized a Chinese company, Shangyang, to sell its professional engineering products to its agents in Chongqing. According to the financial records obtained by Huizhou NVC, the total purchase amount of Shangyang from Huizhou NVC has been about RMB 48 million. In view of the above arrangement, Huizhou NVC and Shangyang signed a sales agency agreement around January 2011. Huizhou NVC agreed to authorize Shangyang to sell its professional engineering products to its agents in 2011 for its large engineering products in Chongqing. In addition to the sales agency agreement, no written agreement has been found regarding other sales arrangements between Huizhou NVC and Shangyang. According to a survey conducted by the company, from January 2009 to November 2014, Wu Changjiang’s wife, Wu Lian, owns a stake in Shangyang 48. According to the Listing Rules, the company is a connected person of the company and is a connected person of the company. Therefore, the sales transaction is a connected transaction of the company.
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