Lingda Group(SZ:300125) Mei Ri Jing Ji Xin Wen·2025-04-24 12:00Core Viewpoint - ST Lingda's 2024 annual report has raised significant concerns among board members and management regarding its authenticity and internal controls [1][2]. Financial Performance - ST Lingda reported an operating income of 0.61 million, a year-on-year decrease of 92.71% - The net profit attributable to shareholders was -9.50 billion, a year-on-year decrease of 262.42% [2]. Internal Control Issues - The internal control audit report for 2024 received a negative opinion, indicating major deficiencies in internal controls related to external guarantees and subsidiary management [2]. - The company has faced continuous failures in internal control reports for two consecutive years, limiting the ability of management to express opinions [1][2]. Management and Board Concerns - Board member Bai Jianghong expressed doubts about the authenticity of the report and stated he could not provide an opinion due to lack of involvement in actual operations [2]. - Bai Jianghong and another board member, Huang Jianchuan, abstained from voting on the annual report and other related proposals, citing concerns over internal controls and financial expertise [2][4]. Business Operations - The main business of ST Lingda is related to the photovoltaic industry, with a significant portion of revenue historically coming from its subsidiary, Jiazhi Jiayue New Energy Technology Co., Ltd. [3]. - Jiazhi Jiayue's first-phase battery project has been suspended since March 14, 2024, due to declining prices in the photovoltaic supply chain, with no immediate plans for resumption [3]. Previous Board Actions - Bai Jianghong has a history of opposing or abstaining from votes on various reports, including the 2024 semi-annual and third-quarter reports, citing concerns over financial data accuracy and potential management misconduct [4][5].