Control Battle Heats Up: Baoxin Questions Corporate Governance, Chung-Kung Refutes
Baoxin Investment, a subsidiary of Pao Chia Group, published newspaper advertisements questioning Chung-Kung's corporate governance, raising four major demands: "replicated dirty tricks, judicial recognition, scholar warnings, and solemn appeals." Baoxin cited past cases, alleging Chung-Kung illegally operated shareholder meetings. Chung-Kung refuted, stating Baoxin's claims were baseless and malicious, and affirmed its shareholder meetings adhere strictly to regulations. Chung-Kung also accused Baoxin of being investigated for insider trading and stock manipulation, suggesting its actions were to conceal its anxiety.
📋 Article Processing Timeline
- 📰 Published: April 7, 2026 at 18:49
- 🔍 Collected: April 7, 2026 at 19:00 (11 min after Published)
- 🤖 AI Analyzed: April 15, 2026 at 12:50 (185h 50m after Collected)
Baoxin Investment Company, a subsidiary of Pao Chia Group, today published an advertisement in the newspaper, putting forward four major demands: "replicated dirty tricks, judicial recognition, scholar warnings, and solemn appeals."
Baoxin Investment cited the example of the China Petrochemical Corporation (CPC) shareholders' meeting in 2012, where the company faction, on the grounds of incomplete documents, disqualified the director candidates nominated by the market faction, and moved the election agenda to the first item for voting on the day of the shareholders' meeting. Before shareholders even entered the venue, the election was over, making it "the most absurd shareholders' meeting in history."
Baoxin Investment pointed out that the Taipei District Court's first-instance judgment found that Wei-Ching Group Chairman Shen Ching-ching, in order to gain floor area ratio for Jinghua City, sought private gain for Wei-Ching Group's Jinghua City Company, and bribed Chung-Kung under the guise of donations. It questioned whether directors and senior executives were aware of and condoned this, advocating for accountability.
In addition, Baoxin Investment quoted scholars' views, pointing out that exercising the right to nominate directors is a manifestation of shareholder activism. If the list of candidates is illegally removed by the board of directors, the nominating shareholders can apply to the court to include the list, or revoke the election results and declare the election invalid; it called on the competent authorities to strengthen supervision and ensure that shareholders' meetings are conducted according to law.
Chung-Kung issued a statement in response, stating that Baoxin Investment Group deliberately used the judicial judgment results of other cases to maliciously implicate Chung-Kung with unsubstantiated accusations, and that the relevant allegations were purely fictitious.
Chung-Kung stated that regarding Baoxin Investment's attempt in the advertisement to forcibly attribute the disputes of other shareholders' meetings to Chung-Kung, this is a false issue. Chung-Kung reiterated that all operations for this year's shareholders' meeting and director re-election absolutely comply with the Company Act and securities-related regulations, and called on Baoxin Investment not to make false accusations, wantonly defame, and interfere with shareholders and normal share affairs operations.
Chung-Kung questioned that Baoxin Investment has recently frequently used false accusations and absurd reasons to escalate disputes and make unreasonable demands, which is to cover up its own suspected "insider trading and stock price manipulation" that is being investigated by prosecutors and investigators, and its illegal predicament. (Editor: Chang Liang-chih) 1150407
Baoxin Investment cited the example of the China Petrochemical Corporation (CPC) shareholders' meeting in 2012, where the company faction, on the grounds of incomplete documents, disqualified the director candidates nominated by the market faction, and moved the election agenda to the first item for voting on the day of the shareholders' meeting. Before shareholders even entered the venue, the election was over, making it "the most absurd shareholders' meeting in history."
Baoxin Investment pointed out that the Taipei District Court's first-instance judgment found that Wei-Ching Group Chairman Shen Ching-ching, in order to gain floor area ratio for Jinghua City, sought private gain for Wei-Ching Group's Jinghua City Company, and bribed Chung-Kung under the guise of donations. It questioned whether directors and senior executives were aware of and condoned this, advocating for accountability.
In addition, Baoxin Investment quoted scholars' views, pointing out that exercising the right to nominate directors is a manifestation of shareholder activism. If the list of candidates is illegally removed by the board of directors, the nominating shareholders can apply to the court to include the list, or revoke the election results and declare the election invalid; it called on the competent authorities to strengthen supervision and ensure that shareholders' meetings are conducted according to law.
Chung-Kung issued a statement in response, stating that Baoxin Investment Group deliberately used the judicial judgment results of other cases to maliciously implicate Chung-Kung with unsubstantiated accusations, and that the relevant allegations were purely fictitious.
Chung-Kung stated that regarding Baoxin Investment's attempt in the advertisement to forcibly attribute the disputes of other shareholders' meetings to Chung-Kung, this is a false issue. Chung-Kung reiterated that all operations for this year's shareholders' meeting and director re-election absolutely comply with the Company Act and securities-related regulations, and called on Baoxin Investment not to make false accusations, wantonly defame, and interfere with shareholders and normal share affairs operations.
Chung-Kung questioned that Baoxin Investment has recently frequently used false accusations and absurd reasons to escalate disputes and make unreasonable demands, which is to cover up its own suspected "insider trading and stock price manipulation" that is being investigated by prosecutors and investigators, and its illegal predicament. (Editor: Chang Liang-chih) 1150407
FAQ
What are the main demands raised by Baoxin Investment against Chung-Kung?
The four major demands are "replicated dirty tricks, judicial recognition, scholar warnings, and solemn appeals."
How did Chung-Kung refute Baoxin Investment's claims?
Chung-Kung stated that Baoxin's claims were baseless and malicious, and affirmed its shareholder meetings adhere strictly to regulations.