Core Viewpoint - ST Changyuan (600525.SH) announced that its largest shareholder, Zhuhai Gree Financial Investment Management Co., Ltd., along with its concerted party, Zhuhai Free Trade Zone Jinnuo Xin Trading Co., Ltd., plans to reduce their holdings by up to 39,563,404 shares, representing approximately 3% of the company's total share capital within 90 days from the announcement date [1] Summary by Categories - **Shareholder Actions** - The largest shareholder intends to reduce its stake in ST Changyuan through centralized bidding on the stock exchange [1] - After the reduction, Gree Financial Investment may no longer be the largest shareholder of ST Changyuan [1]

格隆汇10月9日丨ST长园（维权）(600525.SH)公布，格力金投计划自公告披露之日起90日内（自2025年 10月10日至2026年1月7日止，但法律法规禁止减持的期间除外），以集中竞价方式减持长园集团股份不 超过3956.34万股（约占上市公司总股本比例3%）。 本次所减持股份系通过证券交易所集中竞价交易买入，本公告为自愿性披露公告。长园集团无控股股 东、无实际控制人。格力金投减持后，若其他股东权益发生变动，格力金投可能将不再是长园集团第一 大股东。 ...

每经头条（nbdtoutiao）——天水麻辣烫、淄博烧烤、荣昌卤鹅⋯⋯"泼天流量"退去后，这些城市怎么 样了？ （记者 曾健辉） 截至发稿，ST长园市值为45亿元。 每经AI快讯，ST长园（SH 600525，收盘价：3.43元）10月9日晚间发布公告称，珠海格力金融投资管理 有限公司及一致行动人珠海保税区金诺信贸易有限公司合计持有长园科技集团股份有限公司股份约1.9 亿股（约占上市公司总股本比例为14.38%），为长园集团第一大股东。格力金投计划自公告披露之日 起90日内，以集中竞价方式减持长园集团股份不超过约3956万股（约占上市公司总股本比例为3%）。 本次所减持股份系通过证券交易所集中竞价交易买入，本公告为自愿性披露公告。 2025年1至6月份，ST长园的营业收入构成为：工业占比99.17%，其他业务占比0.83%。 ...

Group 1 - The core point of the article is that Gree Jin Investment, along with its concerted party Jinnuo Xin, holds a total of 14.38% of ST Changyuan's shares, making it the largest shareholder of the company [1] - Gree Jin Investment plans to reduce its stake in ST Changyuan by up to 39.5634 million shares, which accounts for approximately 3% of the company's total share capital [1]

证券代码：600525 证券简称：ST 长园 公告编号：2025086 长园科技集团股份有限公司 大股东减持股份计划公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 长园集团近日收到股东格力金投出具的《关于拟实施减持股份计划的告知 函》，现将相关减持计划公告如下： 1 股东名称 珠海格力金融投资管理有限公司 股东身份 控股股东、实控人及一致行动人 □是 √否 直接持股 5%以上股东 √是 □否 董事、监事和高级管理人员 □是 √否 其他：无 一、减持主体的基本情况 | 持股数量 | 171,238,247股 | | --- | --- | | 持股比例 | 12.98% | | 当前持股股份来源 | 集中竞价交易取得：171,238,247股 | 上述减持主体存在一致行动人： | | 股东名称 | 持股数量 | 持股比例 | 一致行动关系形成 | | --- | --- | --- | --- | --- | | | | （股） | | 原因 | | 第一组 | 珠海格力金融投 | 171,238 ...

Core Viewpoint - Gree Jin Investment, the largest shareholder of ST Changyuan, plans to reduce its stake by up to 39.56 million shares, representing 3% of the total share capital, due to prudent risk management considerations [1] Shareholding Structure - Gree Jin Investment and its concerted parties currently hold 189.7 million shares, accounting for 14.38% of the total share capital [1] - After the planned reduction, Gree Jin Investment may no longer be the largest shareholder if other shareholders' rights change [1] Reduction Plan - The reduction is set to occur within 90 days from the announcement date, specifically from October 10, 2025, to January 7, 2026, excluding any legal restrictions [1] - The shares will be sold through centralized bidding [1] Uncertainty Factors - The company does not have a controlling shareholder or actual controller, which adds uncertainty to the implementation of the reduction plan [1]

Core Viewpoint - ST Longyuan is experiencing intensified internal conflicts among its major shareholders, leading to frequent dissenting votes in board meetings, particularly regarding personnel changes and asset transactions [2][10][15] Group 1: Board Meetings and Shareholder Dynamics - The recent board meetings have seen two non-independent directors representing the largest shareholder consistently voting against key proposals, indicating a shift in internal governance dynamics [2][9] - A notable incident occurred where a board meeting was held twice for the same agenda, raising questions about the company's governance practices and transparency [3][5] - The board's decision-making process has been criticized for not adhering to regulatory guidelines, particularly concerning the handling of related party transactions [5][10] Group 2: Financial Performance and Asset Management - ST Longyuan's stock price has been underperforming, with a decline of over 21% since last year, contrasting sharply with the broader market's gains [2][10] - The company reported a significant net loss of 343.9 million yuan in the first half of the year, attributed to investment losses from the sale of a subsidiary [11][12] - Concerns have been raised about the potential sale of its subsidiary, Changyuan Gongchuang, which is a profitable asset, highlighting fears of losing core quality assets [12][13] Group 3: Shareholder Structure and Control - The largest shareholder, Gree Financial Investment, holds 14.38% of the shares, while the second and third largest shareholders collectively hold 15.86%, indicating a competitive shareholder landscape [13][14] - The ownership structure is complicated by the fact that shares held by the second and third largest shareholders are largely pledged, affecting their control over the company [14][15] - The recent change in the controlling shareholder from Gree Group to Zhuhai Technology Group may influence future governance and strategic decisions [14][15]

Core Viewpoint - ST Longyuan is experiencing intensified internal conflicts among major shareholders, particularly regarding executive appointments and board decisions, which reflects the company's ongoing struggles since the exit of Li Ka-shing's family and has led to a significant decline in stock performance despite broader market gains [1][12]. Group 1: Board Meetings and Decisions - The recent board meetings have seen unusual opposition from two non-independent directors representing the largest shareholder, indicating a shift in governance dynamics [1][6]. - A controversial board meeting held on July 4 was not disclosed until July 21, raising questions about the transparency and governance practices of ST Longyuan [2][4]. - The board's decision-making process has been criticized for not adhering to regulatory guidelines, particularly regarding the handling of related party transactions and the need for independent director approval [5][6]. Group 2: Financial Performance and Risks - ST Longyuan's stock price has significantly underperformed, dropping over 21% since September 2024, contrasting sharply with a 40% rise in the broader market [1][12]. - The company reported a net loss of 343.9 million yuan in the first half of the year, exacerbated by a 282 million yuan investment loss from the sale of a subsidiary [13][14]. - Concerns about the potential sale of its subsidiary, Changyuan Gongchuang, which is a key profit-generating asset, have been raised due to fears of losing core quality assets [15][14]. Group 3: Shareholder Dynamics - The ownership structure shows that the largest shareholder, Gree Financial Investment, holds 14.38% of shares, while the second and third largest shareholders collectively hold 15.86%, indicating a competitive shareholder landscape [15][16]. - The recent changes in board composition, including the resignation of key figures, may influence future decisions regarding asset sales and governance [8][9]. - The shift in control from Gree Group to Zhuhai Technology Group could further complicate the shareholder dynamics and impact the company's strategic direction [16][17].

Core Viewpoint - ST Changyuan has appointed Qiang Wei as the new president, following a series of leadership changes within the company, which has raised concerns regarding management stability and performance [2][3]. Leadership Changes - The board of ST Changyuan approved the appointment of Qiang Wei as president, effective immediately until the end of the ninth board term [2]. - Qiang Wei has held various positions within the company since 2010, including general manager of Changyuan Electric Technology Co., and has been the general manager of Changyuan Shenrui Automation Co. since 2022 [2]. - The appointment received 7 votes in favor and 2 against, with dissenting board members citing Qiang Wei's lack of attendance at shareholder meetings as a breach of the company's diligence obligations [2]. Previous Leadership Issues - The previous president, Wu Qiquan, resigned on April 29 for personal reasons, and was succeeded by Qiao Wenjian, who also resigned in less than six months due to regulatory compliance issues regarding board composition [3][4]. - Qiao Wenjian's term was originally set to end on January 9, 2028, but he had to step down from the presidency to comply with regulations limiting the number of dual-role executives on the board [3]. Financial Performance - ST Changyuan reported a revenue of 3.47 billion yuan for the first half of 2025, a slight decrease of 0.9% year-on-year [4]. - The company experienced a significant increase in net losses, from 46.99 million yuan in the previous year to 344 million yuan, indicating worsening financial health [4][5]. - The net cash flow from operations was -226 million yuan, although this represented a 4.1% improvement year-on-year [5].

强卫，男，1980 年出生，中国国籍，无境外永久居留权，本科学历。自 2010 年起历任长园深瑞继保自动化有限公司营销总监、总经理助理、长园电力技术有 限公司总经理，2022 年至今任长园深瑞继保自动化有限公司总经理，2024 年 1 月至今任公司副总裁。截至目前，强卫先生持有公司股票 403,200 股。 证券代码：600525 证券简称：ST长园 公告编号：2025085 长园科技集团股份有限公司 关于聘任公司总裁的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 长园科技集团股份有限公司（以下简称"公司"）第九届董事会第十二次会 议审议通过了《关于聘任公司总裁的议案》，同意聘任强卫先生担任公司总裁， 任期自本次董事会审议通过之日起至第九届董事会任期届满时止。表决结果：7 票同意，2 票反对，0 票弃权。强卫先生简历如下： 强卫先生具备担任公司高级管理人员的任职条件和履职能力，不存在《公司 法》《公司章程》中规定的不得担任公司高级管理人员的情形，不存在《上海证 券交易所股票上市规则》《上海证券交易所上市公司自律监管指引 ...