Core Points - The control dispute over ST Lutong (300555.SZ) has escalated to a "seal contention" following a heated extraordinary shareholders' meeting [1][6] - The company announced that certain shareholders unlawfully convened a so-called extraordinary shareholders' meeting, which the company claims is invalid [1][7] - A statement was issued claiming that the company's official seal was forged, which could have been used for signing contracts and other fraudulent activities [2][3] Group 1: Control Dispute - The company has declared that any documents signed with the forged seal are invalid and that it will not recognize any actions taken based on these documents [3][4] - The company has completed the process of changing its legal representative to Tan Wenshu and has obtained a new business license [6][8] - The previous board members, including former chairman Qiu Jingwei, were dismissed during the extraordinary shareholders' meeting, and Tan Wenshu was appointed as a non-independent director and subsequently as chairman [6][8] Group 2: Shareholders' Meeting - The company emphasized that all major matters are to be disclosed according to the announcements made [7][8] - The extraordinary shareholders' meeting held on November 7 was contested, with claims that the meeting was improperly continued after the chairman left [7][8] - The new board is moving to stabilize the company's operations and has decided to withdraw lawsuits initiated by the previous board against shareholders [8]

证券代码：300555 证券简称：ST路通 公告编号：2025-110 无锡路通视信网络股份有限公司 关于启用新公章、法人章等印章以及换发营业执照的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 无锡路通视信网络股份有限公司（以下简称"公司"）的法定代表人已经变 更为谈文舒先生。目前公司取得了无锡市数据局换发的《营业执照》，完成了相 关工商变更登记手续，具体信息如下： 统一社会信用代码：913202007983409510 名称：无锡路通视信网络股份有限公司 注册资本：20000 万元整 类型：股份有限公司(上市、自然人投资或控股) 成立日期：200 7年 2月 16 日 法定代表人：谈文舒 住所：无锡市滨湖区五三零大厦 1号十八层 1802 室（经营场所：无锡市滨湖 区胡埭工业园陆藕东路 182 号） 经营范围：通信设备（不含卫星通信设备）、有线电视网络设备及广播设备 的设计、开发、制造、销售、安装、技术服务、技术转让；建筑智能化工程、通 信系统工程的施工（凭有效资质证书经营）；智能化监控设备的生产、销售和技 术服务；计算机软硬件的设计、开发、销售、安 ...

Core Viewpoint - The control struggle over ST Lutong (300555.SZ) has intensified, with significant confrontations between major shareholder Wu Shichun and the original controlling party, leading to a dramatic temporary shareholders' meeting and subsequent board changes [1][2][4]. Group 1: Shareholder Meeting Dynamics - The shareholders' meeting on November 7 was marked by tension, with shareholders required to surrender their phones, leading to dissatisfaction [2]. - The chairman unexpectedly announced the postponement of the meeting, which was not communicated in accordance with regulations, igniting conflict [2][3]. - Wu Shichun, holding 10.46% of shares, challenged the legality of the meeting's postponement, questioning the motives behind it [1][2]. Group 2: Board Changes and Voting Outcomes - After a chaotic meeting, the shareholders reconvened and successfully voted to remove the chairman and another director, with 87.17% and 95.86% support respectively [4][5]. - Wu Shichun's nominee, Tan Wenshu, was elected as the new chairman, while the board's composition raised concerns as it only included one non-independent director, failing to meet the legal requirement of at least three [5][8]. Group 3: Ongoing Control Disputes - Despite the new board's establishment, disputes over the validity of the shareholders' meeting decisions persisted, with conflicting statements from both sides [7][8]. - The original controlling party issued a statement claiming the meeting was illegal, while the new board asserted the decisions were valid, supported by a legal opinion confirming compliance with regulations [7][8]. Group 4: Financial Performance and Company Background - ST Lutong has faced significant financial challenges, with a reported revenue decline of 26.7% year-on-year and a net loss of 36.27 million yuan for the first three quarters of 2025 [15]. - The company has seen its total assets decrease from 800 million yuan to approximately 550 million yuan, alongside ongoing issues related to fund misappropriation by the previous controlling party [12][15]. Group 5: Wu Shichun's Broader Investment Context - Wu Shichun's involvement in ST Lutong is part of a broader strategy where he targets underperforming companies, having previously invested in Dream Home Co., which also faced internal conflicts [16][18]. - His investment philosophy focuses on identifying opportunities in undervalued companies, aiming for value creation through management improvements [20][40].

Group 1 - The core transaction involved ST Luton, with a total of 500,000 shares traded on November 11, resulting in a transaction value of 5.955 million yuan, which accounted for 8.25% of the total trading volume for that day [1][2] - The transaction price was 11.91 yuan per share, representing a discount of 1.08% compared to the market closing price of 12.04 yuan [1][2]

Core Viewpoint - The company ST Luton (300555.SZ) is experiencing a significant power struggle between shareholders and the board of directors, highlighted by the recent dismissal of key executives and the appointment of a new chairman, which has led to conflicting claims regarding the legality of the shareholder meeting and its resolutions [4][5][6]. Group 1: Board Restructuring - The original chairman Qiu Jingwei and vice president Fu Xinyue were removed from their positions by a high vote at the temporary shareholder meeting, with approximately 1.06 billion shares (87.18% of valid voting rights) supporting their dismissal [6][24]. - Tan Wenshu was elected as a non-independent director and subsequently appointed as the new chairman of the board [2][6]. - The board also saw the removal of three senior executives, including the general manager Gu Zhonghui, with Yu Tao appointed as the new general manager [6][8]. Group 2: Shareholder Dispute - Following the shareholder meeting, ST Luton issued a statement condemning the actions of certain shareholders who allegedly held an illegal temporary meeting, asserting that the resolutions made were not legally valid [4][9]. - The original management team claims that the meeting was improperly convened and that the company had already announced a postponement of the meeting [12][9]. - The conflict has escalated into a public dispute, with the board asserting the legality of the shareholder meeting and its resolutions [4][12]. Group 3: Background and Financial Performance - The power struggle began when Wu Shichun became the largest shareholder after acquiring a 7.44% stake for 150 million yuan, leading to multiple attempts to reorganize the board that were met with resistance [18][20]. - ST Luton has faced financial difficulties, reporting continuous losses over the past four years, with a net profit loss of 36.27 million yuan in the first three quarters of the current year, a 1.25% increase in losses year-on-year [24][25]. - The company has been under risk warning since February 1, 2023, due to non-operational fund occupation by its actual controller and related parties [24].

Core Viewpoint - The control struggle at ST Luton (300555.SZ) escalated during the shareholders' meeting on November 7, where the former chairman was removed after a heated debate among shareholders, leading to a significant shift in the company's management structure [1][2][5]. Group 1: Shareholder Meeting Events - The shareholders' meeting was initially announced to be postponed by former chairman Qiu Jingwei, citing a board decision, which was met with strong opposition from shareholders including Wu Shichun [1][3]. - After a chaotic exchange, shareholders led by Wu Shichun successfully reconvened the meeting, resulting in the dismissal of Qiu Jingwei and former deputy general manager Fu Xinyue [1][4][5]. - The meeting concluded with three out of twelve proposed resolutions being passed, including the election of Tan Wenshu as a non-independent director and the appointment of Tan as the new chairman [6][8]. Group 2: Background of Control Dispute - The conflict originated in March when Wu Shichun acquired a 7.44% stake in ST Luton through a judicial auction, becoming the largest shareholder [2][9]. - Disagreements arose over the legitimacy of Wu's acquisition agreements, leading to multiple failed attempts to reorganize the board by Wu [9][10]. - The original management accused Wu of violating regulations regarding shareholding and board control, claiming that his actions were not compliant with legal requirements [10][11]. Group 3: Management Changes and Implications - Following the shareholders' meeting, the newly formed board held an emergency meeting to elect Tan Wenshu as chairman and made significant changes to the management team, including the dismissal of three executives [6][7]. - The company faced scrutiny from the Jiangsu Securities Regulatory Bureau for non-compliance in financial management, which contributed to the management shake-up [7]. - The original management issued a statement contesting the legitimacy of the shareholders' meeting and the decisions made, claiming procedural violations [8][12].

Core Viewpoint - The article discusses the intense power struggle at ST Luton (300555.SZ) following a chaotic shareholders' meeting on November 7, where the former chairman was ousted and a new chairman was appointed amidst disputes over the legitimacy of the meeting and the control of the company [3][4][9]. Group 1: Shareholder Meeting Events - The shareholders' meeting on November 7 was initially postponed by former chairman Qiu Jingwei, leading to strong opposition from shareholders including Wu Shichun, resulting in a chaotic scene [3][6]. - After a heated debate, Wu Shichun and other shareholders successfully reconvened the meeting, which led to the dismissal of Qiu Jingwei and former deputy general manager Fu Xinyue, while Tan Wenshu was elected as a non-independent director [3][9]. - The meeting's agenda included 12 proposals, of which only 3 were approved, indicating a significant shift in the company's governance [9][10]. Group 2: Control Struggle Background - The conflict originated in March when Wu Shichun acquired a 7.44% stake in ST Luton through a judicial auction, becoming the largest shareholder [4][12]. - Disagreements arose over whether Wu's acquisition agreement was terminated, leading to multiple failed attempts to reorganize the board by Wu [4][12]. - The power struggle intensified after the board's refusal to approve Wu's proposals, culminating in legal actions initiated by the original management against Wu [14][15]. Group 3: Management Changes and Implications - Following the shareholders' meeting, an emergency board meeting was held where Tan Wenshu was elected as chairman, and several executives were dismissed due to regulatory issues faced by the company [10][11]. - The company faced scrutiny from the Jiangsu Securities Regulatory Bureau for non-compliance in financial management, which contributed to the management shake-up [10][11]. - The legitimacy of the shareholders' meeting and the decisions made were contested by the original management, who claimed the meeting was improperly convened [11][12]. Group 4: Future Outlook - The outcome of the recent shareholders' meeting and board changes may determine the future direction of ST Luton and its governance structure [18]. - The ongoing disputes and legal challenges suggest that the control struggle may not be resolved quickly, and further developments are anticipated [18].

Core Viewpoint - The control struggle at ST Luton (300555.SZ) intensified during the shareholders' meeting on November 7, where the original chairman was dismissed after a heated debate among shareholders, leading to a reorganization of the board and management [2][3][6]. Group 1: Shareholder Meeting Events - The original chairman, Qiu Jingwei, announced the postponement of the shareholders' meeting, which was met with strong opposition from shareholders, including Wu Shichun [2][4]. - After a chaotic debate, shareholders led by Wu Shichun successfully reconvened the meeting, resulting in the dismissal of Qiu Jingwei and the appointment of Tan Wenshu as the new chairman [2][6]. - The meeting addressed 12 proposals, of which only 3 were approved, including the removal of Qiu Jingwei and the appointment of Tan Wenshu as a non-independent director [6][7]. Group 2: Background of the Control Struggle - The conflict originated in March when Wu Shichun acquired 7.44% of ST Luton’s shares through a judicial auction, becoming the largest shareholder [3][9]. - Disagreements arose over whether the agreement for Wu's acquisition of shares had been terminated, leading to multiple failed attempts to reorganize the board [3][9]. - The original management accused Wu Shichun of attempting to gain control of the company without proper legal compliance regarding the source of funds and the legitimacy of the share transfer agreements [9][10]. Group 3: Management Changes and Implications - Following the shareholders' meeting, the new board held an emergency meeting to elect Tan Wenshu as chairman and made significant changes to the management team, including the dismissal of three executives [6][7]. - The company faced scrutiny from the Jiangsu Securities Regulatory Bureau for non-compliance in financial management, which contributed to the management changes [7][8]. - The original management issued a statement rejecting the legitimacy of the shareholders' meeting led by Wu Shichun, claiming procedural violations [8][12]. Group 4: Future Outlook - The outcome of the recent shareholders' meeting may signal a turning point in the ongoing control struggle, but the situation remains fluid as both sides continue to assert their claims [12][13]. - The legitimacy of the agreements related to share transfers and voting rights remains a contentious issue that could impact future governance and control of ST Luton [10][11].

Core Viewpoint - The recent shareholder meeting and board decisions at ST Luton (300555.SZ) have led to significant changes in control, with the original chairman being removed and a new chairman appointed amid ongoing disputes between shareholders [1][5][8]. Group 1: Shareholder Meeting Developments - The shareholder meeting on November 7 was initially postponed by the original chairman, Qiu Jingwei, which faced strong opposition from shareholders including Wu Shichun, leading to a chaotic scene [1][3]. - After a heated debate, Wu Shichun and other shareholders successfully reconvened the meeting, resulting in the dismissal of Qiu Jingwei and former deputy general manager Fu Xinyue, while Wu's nominee, Tan Wenshu, was elected as a non-independent director [1][5]. - The board convened immediately after the meeting to elect Tan Wenshu as the new chairman and made significant changes to the board's committee structure, dismissing three senior executives [5][6]. Group 2: Control Dispute Background - The conflict originated in March when Wu Shichun acquired a 7.44% stake in ST Luton through a judicial auction, becoming the largest shareholder, which led to disagreements over the validity of his acquisition agreements [2][8]. - Wu Shichun's attempts to reorganize the board were repeatedly blocked by the original management, escalating tensions between the two parties [2][8]. - The original management, led by Qiu Jingwei, has claimed that Wu's acquisition and subsequent actions were not compliant with regulations, asserting that he must prove the legality of his funding sources and the legitimacy of his agreements [8][11]. Group 3: Legal and Regulatory Issues - The original management has raised concerns about the legality of Wu Shichun's actions, including allegations of unauthorized increases in voting rights and failure to disclose necessary information [10][11]. - The board's decision to dismiss the lawsuit against Wu Shichun was based on the conclusion that the agreements related to share transfers did not meet regulatory requirements and were therefore invalid [12]. - The ongoing disputes have led to a complex legal landscape, with both sides asserting their positions regarding the legitimacy of the shareholder meeting and the decisions made therein [7][12].

Group 1 - ST Luton (stock code: 300555) confirmed the legality of the resolutions passed at the second extraordinary general meeting of shareholders held on November 7, 2025, which included the dismissal of former chairman Qiu Jingwei and other directors [1][2] - The meeting was interrupted when Qiu Jingwei unilaterally announced the cancellation of the meeting without justification, but it was resumed with the support of over half of the attending shareholders, with 58.1589% of the voting shares in favor [1][2] - The two key resolutions regarding the dismissal of Qiu Jingwei and Fu Xinyue were approved with a high voting ratio of 87.18%, and the support rate from minority shareholders reached 95.86% [2] Group 2 - Following the shareholders' meeting, the company held the 20th meeting of the fifth board of directors, resulting in a complete leadership overhaul, with Tan Wenshu elected as the new chairman and legal representative [2] - The new board promptly addressed previous internal control issues by dismissing several executives, including General Manager Gu Zhonghui and Deputy General Managers Fu Xinyue and Wang Lumin, while appointing Yu Tao as the new General Manager [2] - The company plans to withdraw from related lawsuits concerning shareholder agreement disputes, asserting that it has fulfilled its information disclosure obligations [2] Group 3 - The management changes occurred against a backdrop of declining performance and regulatory scrutiny, with the company reporting a revenue of 62.919 million yuan for the first three quarters of 2025, a year-on-year decrease of 26.68% [3] - The net profit attributable to shareholders was -36.2691 million yuan, showing a slight year-on-year increase of 1.25%, but still indicating a loss [3] - The company faced regulatory measures from the Jiangsu Securities Regulatory Bureau due to internal control deficiencies and failure to disclose significant lawsuits and account freezes [3]