Gongniu Group (simplified Chinese: 公牛集团; traditional Chinese: 公牛集團; SSE: 603195; officially Gongniu Group Co., Ltd. or Bull Group Co., Ltd.[2]), also known as Bull Group,[3] is a Chinese civil electrical products manufacturing company[4] co-founded by Ruan Liping and Ruan Xueping in 1995.[5]
Native name | 公牛集团股份有限公司[1] |
|---|---|
| Company type | Public |
| SSE: 603195 | |
| Founded | 1995 |
| Founders | Ruan Liping ＆ Ruan Xueping |
| Headquarters | Cixi, Zhejiang |
| Website | www |
Headquartered in Cixi, Zhejiang, Gongniu Group's shares began to be publicly traded on the Shanghai Stock Exchange in February 2020.[6]
Gongniu Group had long been regarded as a family-owned and managed company before it went public. Prior to 2017, the Ruan brothers held 100% of the company's equity as its sole shareholder.[7]
History
editGongniu Group was co-established by Ruan Liping and Ruan Xueping in 1995 in Cixi by Ruan Liping and Ruan Xueping.
In 2019, due to the alleged infringement of patent rights,[8] Gongniu Group was sued by Jiangsu Tongling Technology, with a claim of 1 billion yuan.[9]
On February 6, 2020, it officially landed on the SSE, with an issue price of 59.45 yuan, issuing 60 million shares and raising 3.567 billion yuan.[10]
In May 2021, Gongniu Group was subject to an anti-monopoly investigation for allegedly entering into and implementing a monopoly agreement with the trading counterpart,[11] and on September 27, the investigation results were released and the company was fined 295 million yuan.[12]
In July 2021, Gongniu Group's flagship stores were accused of false propaganda.[13] On December 12, a power strip produced by the company spontaneously combusted.[14]
In January 2022, a socket made by the Gongniu Group exploded after about a month of usage.[15]
References
edit- ^ "Gongniu Group Co., Ltd.'s Net Profit Rose 76.9% in First Half of 2021". Caixin Global. 2021-08-19.
- ^ "About Bull Group". www.gongniu.cn. Archived from the original on 2021-04-19.
- ^ Wang, Eudora (March 18, 2020). "China IPO Review: COVID-19 takes toll on markets as offering size, listing volume drop in Feb". DealStreetAsia.
- ^ Su, Liya (February 6, 2020). "Hillhouse-backed electrical products maker Bull Group raises $511m in Shanghai IPO". DealStreetAsia. Archived from the original on 2020-02-07.
- ^ Jennifer Wang, a former staff of Forbes (November 4, 2020). "China Rich List 2020: 68 Newcomers Include The Country's First Vaping Billionaire And 22 Healthcare Fortunes". Forbes. Archived from the original on 2022-05-26.
- ^ "Bloomberg Billionaires Index - Ruan Liping". Bloomberg Billionaires Index. Archived from the original on 2021-08-08.
- ^ "Gongniu Group is subject to anti-monopoly investigation by Chinese market regulators". The China Press. May 13, 2021.
- ^ "The whole story of the enormous claims of patent infringement against Bull Group". National Business Daily. 2019-03-09.
- ^ "Rising patent threats to pre-IPO firms in China". Managing Intellectual Property. 2020-09-07.
- ^ Jianqiang Wang. "The "King of Socket" Bull Group is filed for investigation". Securities Times. China Fund Journal. May 13, 2021.
- ^ "Gongniu Group was subject to anti-monopoly investigation". Xinhua News Agency. Shanghai Securities Journal. 2022-05-26. Archived from the original on 2022-05-26.
- ^ Cong Lin (September 28, 2021). "Anti-monopoly investigation results came out, Gongniu Group was fined 295 million yuan". Shanghai Securities Journal.
- ^ "The flagship stores of Bull Group are accused of false propaganda". Myzaker.com. July 15, 2021.
- ^ "A power strip made by Bull Group spontaneously combusted at home". Economic Daily. Jan 21, 2022.
- ^ "A socket of Gongniu Group exploded at home". Qilu Evening News. March 17, 2022.