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无翼乌漫画全集之存在消失机 - 欲望的边缘与青春的挣扎》 - 怀亦网络
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无翼乌漫画全集之存在消失机 - 欲望的边缘与青春的挣扎》

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赣州市(崇义县、赣县区、龙南市、会昌县、石城县、瑞金市、宁都县、章贡区、安远县、寻乌县、上犹县、全南县、南康区、信丰县、于都县、大余县、定南县、兴国县)








东莞市
雅安市(石棉县、荥经县、芦山县、雨城区、汉源县、天全县、宝兴县、名山区)
孝感市(安陆市、云梦县、大悟县、孝昌县、汉川市、孝南区、应城市)
宁夏回族自治区
聊城市(冠县、茌平区、高唐县、莘县、临清市、东阿县、阳谷县、东昌府区)
玉林市(北流市、兴业县、陆川县、容县、博白县、福绵区、玉州区)
景德镇市(昌江区、珠山区、乐平市、浮梁县)
西宁市(城西区、城中区、湟中区、大通回族土族自治县、城东区、湟源县、城北区)
岳阳市(汨罗市、云溪区、湘阴县、岳阳县、华容县、岳阳楼区、君山区、临湘市、平江县)

  2025年4月21日,苏州众捷汽车零部件股份有限公司(下称“众捷汽车”)发布招股书,发行价16.50元/股,距上市仅一步之遥。

  在注册制“以信息披露为核心”的监管逻辑下,众捷汽车的代持问题或成其IPO征程的“阿喀琉斯之踵”。对于此类企业,投资者的理性选择或许是:让阳光照进资本黑箱之前,远离灰色地带的赌局。

  部分代持目的是“为上市后减持提供便利”

  众捷汽车的股权结构问题尤为突出,自成立以来,其就存在大量代持现象,创始股东里近半数沦为代持“工具人”。众捷汽车的代持网络涉及创始人、实控人及其关联方,形成跨越10年的隐秘持股链条。 

  第一阶段代持(2010年之前):创始人孙洁晓(春兴精工前董事长)通过王海燕代持25%股权,彼时公司尚未启动上市计划。孙洁晓作为春兴精工实控人,因工作繁忙委托代持,但实际出资完全由其个人承担。此外,众捷汽车实控人孙文伟(孙洁晓侄子)通过母亲丁凤华代持18%股权,期间公司启动股改。丁凤华名义持股直至2018年解除代持。

  第二阶段代持(2011-2018年):2014年1月,公司股东周美菊将其持有的众捷有限125万元出资额全转让给何征宇,让何征宇代持。

  第三阶段代持(2017-2020年):2017年增资时,徐镇委托陈玙代持87.5万元股份,孙洁晓委托张丹代持350万元股份,代持协议明确提及“为上市后减持提供便利”。公司坦言,孙洁晓、徐镇通过代持行为意图规避上市公司股份转让限制的相关法律法规。

  代持“无间道”:孙洁晓是否还是实控人?

  2018年4月,孙洁晓等四名股东将持有发行人合计20.60%的股份无偿赠与孙文伟,赠与完成后,孙文伟成为众捷汽车的实际控制人。2020年12月孙洁晓将通过他人代持的发行人股份全部以3.95元/股的价格转让。

  代持清理后,孙文伟成为实控人,发行前直接持有公司3355.92万股股份,占公司总股本的36.80%;同时,孙文伟控制的有表决权股份占公司总股本的41.60%。

  公开资料显示,孙洁晓2018年1月因内幕交易被立案调查,2023年2月被提起公诉。2023年12月,其因春兴精工内幕交易案被判刑,犯内幕交易罪,被判处有期徒刑三年,缓刑四年,并处罚金人民币40万元。

  对此,上市委会议要求说明孙洁晓等四名股东将股份无偿赠与孙文伟的原因及合理性,是否存在其他利益安排;说明孙洁晓将其所持发行人股份全部转让的原因及合理性,转让价格是否公允,是否存在股份代持行为或其他影响股权清晰的情形,是否存在逃废债及其他法律风险。

  注:本文创作借助AI工具收集整理市场数据和行业信息,结合辅助观点分析和撰写成文。

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