Insider sources reveal that Yan Yan and Schneider colluded to force out Wu Changjiang, the former chairman of NVC Lighting

　　According to the Yangcheng Evening News, an anonymous email leak pointed out that Wu Changjiang's departure was 'a clever scheme staged jointly by venture capital shareholder Yan Yan of SAIF Partners (current chairman of NVC Lighting) and Schneider Electric, killing two birds with one stone.'

　　Following the rumors during Wu Changjiang's tenure of frequent disputes with Yan Yan in the boardroom, a self-proclaimed 'veteran financial professional with many years of experience in the PE industry' stated in an email that 'I have to step forward to expose Yan Yan's ugly face,' and listed Yan Yan's 'four major sins' in one breath.

　　'According to multiple institutional sources, before the announcement of Wu Changjiang's resignation was published, Yan Yan personally called his friends and familiar institutions to inform them of the news in advance, stating that after Wu Changjiang's resignation, one could bottom-fish in NVC Lighting. After the announcement of Wu Changjiang's resignation was published, NVC's stock price indeed dropped rapidly. On the second and third days after the announcement, Yan Yan arranged Lin Heping (current non-executive director of NVC Lighting) and others around him to approach institutions holding NVC Lighting stocks, telling them that NVC Lighting had negative news and they could take over those shares. Yan Yan repeatedly stated in media interviews and on public occasions that whoever wanted to release NVC shares, he would take them all. Yan Yan seriously violated professional ethics...'

　　The person even boldly speculated that "Schneider may have secretly promised Yan Yan a more attractive stock exit price." It is speculated that the same email was also sent to the Hong Kong Stock Exchange and the Securities and Futures Commission. In the last sentence of the email, the person "strongly recommends that the Hong Kong Stock Exchange and the Hong Kong Securities and Futures Commission investigate Yan Yan for suspected stock price manipulation and serious violation of professional ethics."

　　Following the "rumors" about "frequent disputes at the board of directors" between Wu Changjiang and Yan Yan during Wu's tenure, a self-proclaimed "veteran financial professional with many years of experience in the PE industry" stated in the email that he "cannot help but step forward to expose Yan Yan's ugly face," and listed Yan Yan's "four major crimes" in one breath.

　　"According to multiple institutional sources, before Wu Changjiang's resignation announcement was published, Yan Yan personally called friends and familiar institutions to inform them of the news in advance, saying that after Wu Changjiang's resignation, they could bottom-fish in NVC Lighting; after Wu Changjiang's resignation announcement was published, NVC Lighting's stock price did fall rapidly, and on the second and third days after the announcement, Yan Yan arranged for Lin Heping (current non-executive director of NVC Lighting) and his associates to approach institutions holding NVC Lighting shares, telling them about the negative news surrounding NVC Lighting and that they could take over NVC Lighting shares; Yan Yan has repeatedly stated in media interviews and in public that whoever wants to sell NVC Lighting shares, he would take them all; Yan Yan has seriously violated professional ethics..."

　　According to a senior executive of a securities firm, he had previously called SAIF Asia executives to inquire about Wu Changjiang's departure, and the SAIF Asia executive told the securities firm person, "This is big positive news, the price is low, you should buy quickly." This statement is consistent with the whistleblower's "first and second points."

　　Of course, an insider who has dealt with NVC for many years admitted: "It is impossible to verify these claims right now, but the conflicts between Wu and Yan are already an open secret in the industry."

Meanwhile, an insider analyzed that the email was overly 'exaggerated,' saying 'When the mantis stalks the cicada, the oriole is behind; there is no need for Yan Zhen to come out so directly as the villain.' He pointed out, 'There are now more theories that Schneider has taken a liking to NVC and wants to merge with NVC. We know that Schneider wants to develop its downstream lighting industry and has invested before, but without success. If it could directly merge with NVC, everything would be easier. So Yan Zhen is just a puppet chairman.'