“控股”身份烫手？大连圣亚大股东持续否认实控人地位

Core Viewpoint - Dalian Shengya Tourism Holdings Co., Ltd. reported a significant decline in net profit for the year 2024, transitioning from profit to loss due to project suspensions and litigation disputes [2][11]. Financial Performance - In 2024, Dalian Shengya achieved revenue of 505 million yuan, a year-on-year increase of 7.93%, but reported a net loss attributable to shareholders of 70 million yuan, a drastic decline of 304.16% [11]. - The company's net profit after deducting non-recurring items was 21 million yuan, down 64.08% year-on-year [11]. - In the first quarter of 2025, both revenue and net profit continued to decline, with a net loss of 8 million yuan, a year-on-year decrease of 738.54% [11]. Cost Structure - Sales expenses increased by 7.59% to 38.94 million yuan, management expenses rose by 40.86% to 105 million yuan, and financial expenses surged by 55.64% to 50.99 million yuan [11][12]. - The increase in sales expenses was attributed to higher advertising investments, while management expenses were impacted by legal fees and costs related to suspended projects [12]. Shareholder and Control Issues - The major shareholder, Xinghaiwan Investment, holds 30.95 million shares, representing 24.03% of Dalian Shengya, but has repeatedly stated it is not the controlling shareholder [4][7]. - The board member Wu Jian expressed concerns about the authenticity of the annual report, indicating that Xinghaiwan Investment is merely a major shareholder and not a controlling one [5][6]. - Since 2020, Xinghaiwan Investment has consistently claimed it does not have control over Dalian Shengya, despite being the largest shareholder [7][9]. Governance and Board Composition - As of now, only one representative from Xinghaiwan Investment remains on the board of Dalian Shengya, indicating a reduction in their influence [10]. - The company has faced inquiries from the stock exchange regarding the control structure and the validity of the board's composition [7][8].