欣龙控股再起董事会换届风波，莫让“超长待机”演变为连环危机

Core Viewpoint - The company Xinlong Holdings is facing a governance crisis as it postpones the election of its board of directors, raising concerns among minority shareholders about potential long-term risks and the lack of transparency in the decision-making process [1][2][6]. Group 1: Board of Directors and Governance - Xinlong Holdings announced a delay in the election of its board and supervisory committee, citing that the preparations for the election are ongoing [2]. - The second-largest shareholder, Hainan Zhuhua, submitted a proposal to increase the number of candidates for the board but was rejected by the current board, which claimed the proposal did not meet regulatory requirements [2][3]. - The current board was elected in March 2022 for a three-year term, which expired in March 2025, and the delay in the election raises questions about compliance with corporate governance norms [2][3]. Group 2: Shareholder Dynamics - The ownership structure shows that the controlling shareholders, including Jiaxing Paradise Silicon Valley Investment Co., hold a significant portion of shares, which may influence the board's decisions [2]. - The ongoing board delay is perceived as a tactic to maintain control and avoid potential conflicts that could arise from a change in board composition, especially given the company's poor performance [6][7]. Group 3: Market Context and Implications - The trend of board election delays is noted to be more prevalent among companies with declining profits, indicating a possible correlation between poor performance and governance issues [6]. - Xinlong Holdings' market value has decreased significantly since the acquisition by Silicon Valley Paradise, highlighting the challenges the company faces in its core business operations [6][7]. - The company may need to consider bringing in new strategic investors to revitalize its operations and governance structure, as continued inaction could lead to legal challenges from minority shareholders and further financial difficulties [7][8].