Jahwa rises 3% after chairman says sorry
By Lilith Hu |
May 17, 2013, Friday
|
Print Edition
Print Edition
SHANGHAI Jahwa United Co, a local cosmetics maker, jumped 3.3 percent yesterday beating the key index's gain after the company's chairman apologized for shareholders's losses due to a boardroom dispute at its parent company.
Jahwa rose to 65.08 yuan yesterday after falling for two straight days. The Shanghai Composite Index gained 1.2 percent.
Speaking at the annual shareholders' meeting yesterday, Ge Wenyao said he was deeply sorry for the losses suffered by the shareholders due to his dispute with Jahwa United's major shareholder Ping An. Ge, 65, said he will smooth the relationship with Ping An because the interests of the shareholders and the company override everything else.
There have been rumors Ping An may remove Ge as chairman of the listed firm but he said it's unlikely.
At the meeting, some shareholders criticized Ping An for triggering the dispute and causing a huge loss to retail shareholders. Jahwa saw its market value fall 4.9 billion yuan (US$789.6 million) this week before the rebound.
Jahwa rose to 65.08 yuan yesterday after falling for two straight days. The Shanghai Composite Index gained 1.2 percent.
Speaking at the annual shareholders' meeting yesterday, Ge Wenyao said he was deeply sorry for the losses suffered by the shareholders due to his dispute with Jahwa United's major shareholder Ping An. Ge, 65, said he will smooth the relationship with Ping An because the interests of the shareholders and the company override everything else.
There have been rumors Ping An may remove Ge as chairman of the listed firm but he said it's unlikely.
At the meeting, some shareholders criticized Ping An for triggering the dispute and causing a huge loss to retail shareholders. Jahwa saw its market value fall 4.9 billion yuan (US$789.6 million) this week before the rebound.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
