Investor Net Ge Fanmei
Recently, a clarification announcement made Nanjing Aolian Auto Electronics Co., Ltd. (hereinafter referred to as “Aolian Electronics”, 300585. SZ) fall into the vortex of letter fraud and regulatory investigation.
On the evening of February 25, the Olympic Union announced that the CSRC decided to file a case against the company because of the company’s suspected information disclosure violations. During the investigation, the company will actively cooperate with the investigation work of the CSRC and perform the obligation of information disclosure in strict accordance with the regulations.
The reason behind this is that on February 21, China Huaneng Group Clean Energy Technology Research Institute Co., Ltd. (hereinafter referred to as “Huaneng Qingneng”) released the Clarification Statement on the False Announcement on Olian Electronics on its official WeChat official account (hereinafter referred to as “Clarification Statement”), in which the partner of Olian Electronics, Xu Mingjun, was accused of falsifying his resume.
A stone stirs up a thousand waves. Affected by the “fake resume” incident, the share price of AOlian Electronics continued to decline. From February 21 to the close of February 27, the company’s share price fell 45.1%, nearly halving, and the market value fell to 3.6 billion yuan, with a price to earnings ratio (TTM) of 148.88 times.
(Source: AOL electronic bulletin)
Accused of false resume
According to the public information, Aolian Electronics belongs to the automobile parts manufacturing industry, and its main products include electronic accelerator pedal assembly, shift controller, low-temperature starting device, electronic throttle, electromagnetic solenoid and urea heating pipe, vehicle air conditioning controller, etc.
From auto parts to perovskite, AOlian Electronics stepped on the new energy outlet, and the scenery was limitless for a time. On December 9, 2022, AOLIAN Electronics disclosed the Announcement on the Signing of the Perovskite Investment Cooperation Agreement and the Establishment of the Company by its wholly-owned subsidiary, Hainan AOLIAN Investment Co., Ltd., and the natural person Xu Mingjun jointly funded the establishment of Nanjing AOLIAN Photoenergy Technology Co., Ltd. (hereinafter referred to as “AOLIAN Photoenergy”) and signed the Investment Cooperation Agreement, and planned to engage in the research and development, production, and preparation of perovskite solar cells and their preparation equipment Sales, etc. The registered capital of AOLIAN Optronic is 50 million yuan. AOLIAN invested 47.5 million yuan, accounting for 95% of the shares. Xu Mingjun invested 2.5 million yuan, accounting for 5% of the shares.
According to the AOL electronic announcement, the company plans to achieve “the production of 50MW perovskite pilot line in 2023, the production of 600MW perovskite equipment and 120MW perovskite battery module production line in 2024, the production capacity of 8GW perovskite equipment and 2GW perovskite battery module in five years, and the scale of perovskite battery research and development, equipment development and equipment manufacturing, and the efficiency of perovskite battery are at the leading level in the industry.
Taking advantage of the perovskite, the stock price of AOlian Electronics has been “soaring” since then. Wind data shows that from December 9, 2022 to February 10, 2023, the company’s stock price has risen by more than 204% in two months, and the company’s total market value has also risen from 2.4 billion yuan to 7.3 billion yuan.
The cross-border transformation of AOL Electronics has also attracted the attention of regulatory authorities. On February 10, the Shenzhen Stock Exchange issued a letter of concern, requesting AOlian to verify and explain matters related to perovskite cooperation, including the company’s background in the fields related to research and development and manufacturing of perovskite solar cells, the competitive pattern of the perovskite solar cell industry, capital and technical barriers to entry, Xu Mingjun’s resume, background, previous work and research results, as well as the design basis for planning perovskite production capacity Rationality and sales realizability, as well as the production capacity and its use up to now.
On February 13, 2023, AOL Electronics replied to the above letter of concern. According to Xu Mingjun’s resume disclosed in the reply to the letter of concern issued by AOL Electronics, Xu Mingjun has successively served in Hangzhou Zhongneng Photovoltaic Technology Co., Ltd., Wuxi Zhongneng Optical Storage Technology Co., Ltd., and Zhejiang Zhongneng Optical Storage Technology (Group) Co., Ltd., guiding the completion of the 550 × Design of process equipment for pilot test line of 650mm perovskite battery module, guide Huaneng Qingneng Institute 550 × The efficiency of the pilot line of the 650mm perovskite battery module reached the acceptance standard, and the highest certified efficiency reached 16.8%.
(Data source: reply announcement of AOL electronic attention letter)
Soon, however, Xu Mingjun’s resume was denied by Huaneng Qingneng. On February 21, Huaneng Qingneng stated in the clarification announcement that the company had no cooperation agreement, technical exchange or business contact with Nanjing Aolian Auto Electronics Co., Ltd. The description of Huaneng Qingneng Institute in Xu’s resume in his announcement is seriously untrue. Xu has not been invited to visit Huaneng Qingneng Institute, nor participated in any equipment commissioning and process research of the perovskite pilot line of Huaneng Qingneng Institute, nor has the company had any business relations with its individuals. There is no “guiding Huaneng Qingneng Institute 550 × The efficiency of the pilot line of the 650mm perovskite battery module has reached the acceptance standard, and the highest certified efficiency has reached 16.8%. “And the certified efficiency data of” 16.8% “in the text is fabricated data, which is inconsistent with the company’s certified data.
(Source: Huaneng Qingneng Clarification Statement)
According to the data, Huaneng Qingneng is a central enterprise mainly engaged in coal-based clean power generation and conversion, renewable energy power generation and other businesses, and has strong authority in the field of perovskite in China. In June 2022, the draft of the standard of China Electricity Union “Perovskite Photovoltaic Module” prepared under the auspices of Huaneng Qingneng Institute passed the review of the expert group, and became the first general technical standard of perovskite photovoltaic module in China.
After that, AOLIAN Electronics encountered the “knife repair” of the universal photoelectricity. In the afternoon of February 22, Zhongneng Optoelectronics also issued a clarification statement, saying that Xu Mingjun, an employee of AOL Electronics, worked in his company from February 2021 to December 2021, instead of May 2020 to March 2022 as described in the Reply to the Letter of Concern; At the same time, many of Xu Mingjun’s achievements mentioned by AOL Electronics involve his company, which are exaggerated or untrue. This also confirmed that some of Xu Mingjun’s resumes were fake.
Investor Net Ge Fanmei