CORPRO(SZ:300101) Jin Rong Jie·2025-04-14 08:16Core Viewpoint - The internal conflict within the controlling shareholder of Zhenxin Technology (300101), Chengdu Guoteng Electronics Group, has resurfaced as the company rejected a proposal to increase the number of board members, highlighting ongoing governance issues [1][2][5]. Group 1: Proposal Rejection - On April 13, Zhenxin Technology announced that its board of directors decided not to submit the controlling shareholder's temporary proposal to the shareholders' meeting for review [2]. - The proposal aimed to amend the company's articles of association to increase the board size from nine to between nine and twelve members, ensuring that independent directors would constitute no less than one-third of the board [5]. - The board cited reasons for rejection, including the proposal's vagueness, lack of internal authorization, and immaturity of timing and conditions [5]. Group 2: Shareholder Disputes - On the same day Zhenxin Technology received the proposal, four shareholders of Guoteng Electronics Group issued a statement opposing the proposal, claiming it bypassed necessary discussions and resolutions at the shareholder meeting [7]. - The ongoing conflict among shareholders has persisted for over seven years, primarily involving the founding team and a financial investor, He Yan, who has not participated in the company's management [9][10]. Group 3: Historical Context - The conflict traces back to He Yan's legal issues, including a five-year prison sentence for financial crimes, which led to significant operational challenges for Zhenxin Technology [11][12]. - The company's performance has been volatile, with a notable decline in net profit since its IPO, and in 2024, it reported a revenue of 797 million yuan, down 6.44% year-on-year, and a net profit of 40 million yuan, down 44.91% [12][14]. Group 4: Governance and Independence - Zhenxin Technology asserts its operational independence from its controlling shareholder, emphasizing that its board and internal structures operate independently [14]. - The company commits to adhering to relevant laws and governance rules to maintain its independence and prevent interference from the controlling shareholder [14].