Haite High-Tech has responded to accusations by its investee company Haiwei Huaxin that it organized more than 100 people to seize company seals, saying the action on August 18 was carried out by the other five shareholders after mutual consultation, excluding the major shareholder Qingdao Haiyue, and was not a seizure. Haite High-Tech's board secretary office said representatives of the five shareholders and colleagues went together to Haiwei Huaxin to negotiate, and when the other side did not respond, in order to protect the company's legitimate rights and interests, the five parties agreed to temporarily take the seals away. Haite High-Tech also accused the largest shareholder Qingdao Haiyue of forging board resolutions, forging shareholders' meeting resolutions, and refusing to enforce effective rulings, causing corporate governance to fail. Haiwei Huaxin announced on August 18 that the seals taken away were immediately invalidated, and police have now opened a case for investigation.
Sichuan Haite High-tech Co LtdCompany involved in dispute over seal seizure, police investigation opened, corporate governance issues.
Accused of forging resolutions and refusing to enforce rulings, leading to governance failure.
