The market leader Longbang, a major shareholder of Taiwan's old food manufacturer Taishan Enterprise, has recently continued to increase its holdings in with , and has exceeded 40%. The market is also worried that the battle for operating rights of Taishan Enterprise is imminent.
年官网, Babao porridge, pure water, various edible oils, etc., was established in 1950 in Taishan, a Taiwan old food factory, with a history of 72 years. By the way, Taishan Enterprise (Zhangzhou) Food Co., Ltd., located between Xiamen and Zhangzhou , is a subsidiary established by Taiwan Taishan Enterprise in 1997.
Taiwan's old food factory is about to fight the Taishan business rights?
Taishan Enterprise (Zhangzhou) Food Co., Ltd. located in Zhangzhou Jiaomei Economic Development Zone
We are not unfamiliar with Taishan Enterprise, a veteran food manufacturer with a history of 72 years and has been passed down for three generations.
Taishan Xiancao honey, Xiancao frozen , Babao porridge, peanut soup , as well as Tea Zhichu, Taishan Pure Water, etc. Taishan Enterprise's products cover packaging water, tea beverages, fairy grass series, fruit drinks, desserts, various household oils, etc.
Taishan Enterprise (Zhangzhou) Food Co., Ltd., located in the junction of Xiamen and Zhangzhou, is a Taiwanese Taishan Enterprise invested and built in 1997. It is currently a leading enterprise in the development zone. It introduced three automated tinplate production lines that year, which caused a sensation. In the same year, Taishan Enterprise also invested in and set up a factory in Kunshan, Jiangsu.
time has passed, and the dispute over the operating rights of Taishan enterprises is on the surface "still still" but in fact it is undercurrent. The market has sent major shareholders and listed company Longbang to continue to increase its holdings, and its shareholding ratio exceeds 40%, reaching 42.16%. Many people are worried that the battle for the operation rights of Taiwan’s old food factory Taishan is imminent.
In response to the recent rumors that major media on the island reported that "the market camp intends to use the method of independent directors to hold shareholders' meetings to comprehensively elect directors in advance" by the end of this year, Taishan Enterprise issued a statement on November 27 saying that after exploring the independent directors of the company, it was confirmed that no reports were reported. According to the information, there are currently three independent directors of Formosa Plastics Enterprise, namely Ms. Chen Minxun, Li Minghui and Du Yingda.
Chairman of Taishan Enterprise Zhan Jingchao
According to the "Business Times" and other reports, on November 28, Baosheng Investment, a major shareholder of the Taishan Enterprise market and a subsidiary of the Taiwan-listed company "Longbang", announced that from August 24 to November 18, a total of NT$313 million was invested, and 48,504 Taishan Enterprise shares were purchased at an average price of NT$36.91 per share.
At present, Baosheng Investment has a cumulative stake in Taishan Enterprises to reach 9.8%. If the parent company Longbang previously held 32.36% of the shares, Longbang Group's cumulative stake ratio currently exceeds 40%, which has risen to 42.16%. The market believes that the battle for operating rights of Taishan enterprises may have a hard battle to fight on behalf of the company.
market sent Longbang to press forward step by step. As early as the end of October, the market was rumored that Longbang launched an extraordinary shareholders' meeting before the end of this year through the independent director he had, and proposed to launch a business rights war. However, Taishan Enterprise issued a clarification announcement on the matter on November 27, claiming that it only explored independent directors and did not report on what was said. In other words, Du Yingda, the pro-market independent director mentioned in the previous report, has stated that he will not initiate an extraordinary shareholders' meeting before the end of the year.
Taishan Enterprise was established on October 26, 1950. It was founded by the four brothers Zhan Yuzhu to establish the Yiyu Oil Factory in Changhua Yuanlin. It has been more than 60 years and has been passed down and operated for three generations. As the founder Zhan family has grown up, there are currently many members of the family and people with friendly relations with him. Even though the market-sponsored major shareholder Longbang holds more than 40%, the company-sponsored and the market-sponsored shareholding volume is quite high, and the operating rights war is tense, but it is not yet known that "who will win to death" is.
Currently, Zhan Jingchao, chairman of Taishan Enterprise, was elected by Taishan Enterprise in a comprehensive re-elected directors and independent directors after the extraordinary shareholders' meeting on December 16, 2021. After the meeting, the board of directors elected him as chairman. Previously, Zhan Jingchao was the general manager of Taishan Enterprise, and former chairman Zhan Yihong was the vice chairman, and also appointed Cai Zhengda as the general manager.
33The scene screen of the temporary shareholders' meeting of Taishan Enterprise in December 2021
In fact, the temporary shareholders' meeting of Taishan Enterprise held in December 2021 and the re-elected board of directors are the result of negotiations between the company and the market, and the result of the great unity and unanimity of the Zhan family, the founder of Taishan Enterprise, avoiding a battle of management rights. At that time, the board of directors included six directors and three directors.
Among them, Han Taisheng, the representative of Longbang International Industry, is the first time that Longbang, the major shareholder of the market, has joined the board of directors.
Taishan Enterprise Company sent a party. Previously, because of the advantage of "Second Brother" of the supermarket on the island, the advantage of 22% of the shares of the supermarket, and the founding family is currently the fourth generation, it is difficult to unify the opinions of the member system of the huge family, which has triggered market factions to spy on the management rights, and there have been many disputes over management rights.
In April 2016, Taishan Enterprise held an extraordinary shareholders' meeting, with the anti-board party controlling the operating rights. At that time, the board of directors elected Zhan Yihong as chairman and Zhan Jinjia as vice chairman, and at the same time, Zhan Jingchao was appointed as general manager, and a dispute over operating rights ended.
That is, since 2016, the founder Zhan family felt the threat of foreign market factions, so they reached an agreement internally to "rule" in turn to achieve the rotation of chairman and general manager positions, and hope to achieve the sustainable operation of the time-honored food manufacturer Taishan Enterprise in this way. This is the biggest reason why in December last year, former chairman Zhan Yihong resigned to vice chairman and general manager Zhan Jingchao was promoted to chairman.
3 waiting for co-governance, everyone has a share. The first purpose is to promote the unity of the family, and everyone unites as one force, and to unite to the outside world, so as to prevent outsiders from falling behind in the management rights. It is understood that the board of directors' re-election in December 2021 was formed after the company party (that is, the party of the founding family Zhan family) reached a settlement with former chairman Zhan Yuelin. During this period, the company party had repeatedly persuaded Zhan Yuelin to retire through intermediaries.
Longbang International Chairman Liu Weilong
A wave of words has emphasized many times that Equity is the cornerstone of family business governance, its foundation is not solid, and the earth is shaken. We have noticed that the recent operation rights wars in many old-fashioned enterprises and century-old enterprises in Taiwan are caused by dispersed equity or insufficient holdings, which leads to the loss of business rights; for example, Datong Company , etc.
passed through the time tunnel and was washed by the years. After many old-fashioned enterprises experienced intergenerational alternation and sprouting, the equity dispersion is one aspect, and the differences in family opinions are also one aspect, which will affect corporate governance, and in more serious cases may lead to the loss of operating rights and control rights. Taishan enterprises can form family unity through waiting and co-governance paths, which is also a good method, but it will be very difficult in actual operation. After all, it is not an easy task to settle internal interests.
In order to avoid the dispersion of equity due to family iteration, the Feng brothers of Lifeng, a century-old Hong Kong, have used privatization and delisting of internal equity, and have achieved certain goals. No matter what, the old saying goes, "A harmonious family will prosper." If internal unity is strong, the fortress will be strong and it will be difficult for outsiders to invade.
Let’s talk about the major shareholder of the market - Longbang International. Liu Weilong, the current chairman of Longbang International, officially took over the position of director on February 1, 2021, and the former chairman Shao Mingbin resigned. Longbang's main business is real estate construction, courts, etc., as well as investment and life sectors. Longbang International previously claimed that its holdings in Taishan Enterprises in the traditional food industry are aimed at long-term investment.
Liu Weilong was previously the chairman of Longyan International. Longyan International is a listed company under Longyan Group, the founder of Longyan Group, and his wife Liu Ping, who is known as the "King of Funerals". Li Kaili, who is currently the chairman of Longyan Group and Longyan International, is the "Princess Longyan" and is Li Shicong's beloved daughter. She took office in February last year. Li Shicong suffered from a brain tumor and was once reported to be critically ill last year. His eldest daughter Li Kaili was urgently taken over. Li Shicong later recovered and was discharged from the hospital and was being treated.
and is a precious one. In 1972, Taishan Enterprise inherited three generations of business
Former President of Taishan Enterprise Zhan Rendao
A 72-year-old food factory Taishan Enterprise is one of the golden signs of Taiwan's food industry.
Taishan Enterprise was established on October 26, 1950 and was jointly founded by the four brothers Zhan Yuzhu, Zhan Jinshui , Zhan Jinnan and Zhan Muchuan. Starting from the earliest Changhua official Lin established the Yiyu Oil Factory, to now becoming a giant in the island's food industry, it has been passed down for three generations of operations.
Zhan Yuzhu's four brothers made profits from the production of salad oil, feed, and export canned food in the early days. In 1973, they founded the Taishan Oil Factory and Food Factory in the southeast of Changhua County, Tianzhong Town, , laying the foundation for development and growth. In 1983, Taishan Enterprise successfully launched canned desserts such as Xiancao honey and Babao Porridge, and since then it has gained a firm foothold in the food industry and achieved the company's stock listing in 1989.
The year when Taishan Enterprise stock was listed, the former chairman Zhan Yuzhu succeeded and retired and was elected as honorary chairman. The board of directors unanimously elected former executive vice chairman Zhan Rendao as chairman. Taishan Enterprise completed the intergenerational transmission for the first time.
On the wall of Taishan Enterprise Company, the "President's Proverbs" written by former CEO Zhan Rendao is hung, hoping that the whole company will always have a mindful mind. Zhan Rendao's 32-word "President's Proverbs": " people should be macro and focus on the big picture. Live in the present and start small. Be grateful at all times, be optimistic and enterprising. Be mindful and have all your wishes come true. "
former chairman and general manager of Taishan Enterprise Zhan Yuelin
In 2016, Zhan Yuelin, who is also the chairman and general manager, voluntarily resigned from his position as general manager and was replaced by Zhan Yihong, the then director of the Taishan Enterprise family, and announced that he would enter the state of joint governance between the two. This is also the result of the family's "harmony is the most important".
The founder of Taishan Enterprise is the four brothers Zhan Yuzhu. They reproduce to the second generation, then to the third generation and fourth generation, and there are more family members. Everyone may have their own interests and are prone to civil strife. If the family is not united, the company's business and governance will be in trouble.
6 years ago, due to dissatisfaction with Zhan Yuelin's strong style and the continuous losses in Taishan's investment career in mainland China, Zhan Yuelin's three cousins, sisters Zhan Jinjia, Zhan Yalin and Zhan Jingchao, who served as directors, suddenly announced their resignation as directors in early March 2016. In accordance with the reasons that 1/3 of the directors and supervisors had changed, they requested an extraordinary shareholders' meeting on April 25, with the purpose of replacing Zhan Yuelin. This move was also described by outsiders as the "prince's counterattack" change in Taishan's enterprise.
Zhan Yuelin is the son of the second chairman and CEO Zhan Rendao, and the eldest grandson of the founder Zhan Yuzhu. Zhan Rendao is also the uncle of Zhan Jinjia and others. Zhan Rendao was not willing to be defeated by his son, so he immediately asked another supervisor, Lu Fengzhen, to propose to convene a board meeting immediately in order to take the initiative. Since Zhan Rendao and Zhan Yuelin have been in charge of military talismans for many years and have influence and connections to the outside world, the outside world also doubts whether this "forced palace" will be successful.
However, by the interim board of directors in April 2016, Zhan Yuelin, who had previously resigned as general manager, was already in a desperate situation. Instead of destroying the Taishan brand and family image, it is better to peacefully transfer the management rights. After the board of directors elected, the new chairman was not the son of Zhan Jinjia, the brother of Zhan Renhua, who was speculated by the outside world, but the son of Zhan Yihong, the younger brother of the third wife, Zhan Renxin.
Former Chairman of Taishan Enterprise Zhan Yihong
The board of directors only held half an hour that day. The six directors elected were all from the Zhan family, and Zhan Yuelin did not attend. In addition to electing Zhan Yihong as the new chairman, Zhan Jingchao was appointed as the new general manager. Regarding the outside world's views, Zhan Yihong revealed that it may have been the case that Zhan Jinjia attended the media press conference before, so everyone would have misunderstandings, but he was very strict: "The chairman is elected by the board of directors, but the result is that I was chosen!"
On that day, the second generation of Taishan, the second brother of the president, Zhan Rendao, and the 83-year-old Zhan Renzhi, all supported the management team. He said that his eldest brother Zhan Rendao cherishes his son Zhan Yuelin very much, but he also takes into account the future development of the family business, so he also supports reform and does not support his dear son.
After the four brothers Zhan Yuzhu, Zhan Jinshui, Zhan Jinnan and Zhan Muchuan started their business in 1950, they have been the chairman of the eldest brother Zhan Yuzhu Yifang. It has been 66 years since 2016. At this moment, the four brothers of the first generation founder have long passed away. The second generation of the Zhan family, Zhan Rendao and his cousins, are all in their seventies and eighties. It is normal for the family to have disputes about the position of the head. People's minds have changed, and the protagonist of the dispute over management rights is the third generation of the Zhan family. Even if there is a dispute, the peaceful atmosphere will be resolved in the end, and harmony is the most important thing!
Chairman Zhan Yihong was born in 1967, one year younger than general manager Zhan Jing. Zhan Jinjia, who appeared in public at this time, was born in 1971. From this point of view, the age difference between the third generation of the Taishan Enterprise Family is not very big, and everyone also hopes to have the opportunity to show themselves, so it is natural to strive for reasons for change. Zhan Yihong returned from studying in the United States in his early years and worked in Changhua Tianzhong for many years. The logistics he is responsible for is also a relatively profitable sector for Taishan Enterprises.
Zhan Jingchao
After Zhan Yihong took office, his first task was to "cut off his arm". While rectifying the Zhangzhou factory, he terminated the long-term contract signed with foreign investors, and on the other hand, he also closed the dessert store chain in Xiamen. At the same time, he appointed a young and promising director Zhan Haojun to manage the factory affairs in Zhangzhou. After a while, the money-losing goods in the past became a golden rooster who could make money.
is currently the chairman of Taishan Enterprise, born in 1966. The media previously had the impression of him that he was "good at ease". He was the general manager of Forkeduo and did not like to expose it.
The third generation of the Zhan family achieved a harmonious handover among the family at two extraordinary shareholders' meetings in 2016 and 2021, but the hidden dangers of operating rights have not been eliminated. Longbang Group, which has always emphasized "pure investment", has been buying Taishan Enterprise stocks in a planned manner since September 2018, and finally "forced the palace" in April 2020, launching a war of operating rights.
In April 2020, Longbang initiated a proposal, in addition to requesting the dismissal of Zhan Yihong as chairman, he also requested the election of directors and supervisors. In the past, Longbang Group was once one of the allies of Taishan's enterprises. Until September 2018, it "surfaced" due to its 6.25% shareholding ratio. By the time the Taishan shareholders' meeting in May 2019, Longbang Group had squeezed out of Baolida Group and became the largest shareholder with a shareholding of 16.53%. Since the Zhan family has been operating for three generations, the total number of shares of Dafang is 4.63% and the Sifang holds 2.68% of the shares. The Zhan family directly holds only 7.31% of the shares among the top ten shareholders.
The Zhan family did not want to follow the footsteps of the agricultural and forestry and Datong management rights war, and they also knew that there has always been Longbang, a real estate business in the battlefield of the agricultural and forestry and Datong management rights. "Repair the Lost", in 2020, they decided to spend NT$600 million, and increased its holdings in 31,000 Taishan shares. With its subsidiary Baosheng Investment, the shareholding ratio suddenly rose by more than 30%. In addition, because it holds family convenience store 2% shares , Longbang Group's attempt to operate in April 2020 did not succeed, and its proposal was not approved.
also mentioned that Baolida Group, one of the original major shareholders, had mostly lost its holdings at the end of 2020, and two took over. One was an allies sent by Taishan Enterprise, Wang Guizeng, the second-generation member of Zhongzhi Group, and the other was the investment company "Juyou Investment" controlled by Zhan Yihong. All of this is to prevent Longbang from "second forced palace". Now that Longbang holds more than 40% of the shares, will it launch a business rights war again? How will the Zhan family deal with the "barbarian invasion"? Let's take a look!
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