CWPC(SZ:002630) Mei Ri Jing Ji Xin Wen·2025-05-20 15:44Core Viewpoint - ST Huaxi (002630.SZ) announced the resignation of its controlling shareholder and actual controller, Li Renchao, following a notice of detention and case filing from the supervisory committee of a district in Suining City. Li is no longer in any position within the company or its subsidiaries, and the company’s operations remain normal despite this leadership change [1][2][3]. Group 1 - The company disclosed that Li Renchao submitted his resignation on May 17, 2024, and the board expressed gratitude for his service [2][3]. - Li Renchao, aged 61, has been with the company since November 2007, serving as chairman and later as president. He has held various positions in other companies, including as chairman of Huaxi Energy Industrial Group [2][4]. - The company’s board of directors and management are functioning normally, and there has been no change in control or significant impact on operations [2][3]. Group 2 - The last board meeting chaired by Li Renchao was on March 13, 2024, with subsequent meetings led by the newly elected chairman, Huang Youquan [4]. - Huang Youquan, who is also 61 years old, has been a director since November 2020 and was appointed chairman and president on May 19, 2024 [4]. - The board has approved various reports, including the 2024 annual report and internal control self-evaluation report, although there was one abstention vote during the meetings [4]. Group 3 - Independent director Xie Xinglong raised concerns about significant deficiencies in internal controls, particularly regarding procurement and payment processes, which were acknowledged but not fully addressed [5]. - The audit firm provided a "non-standard" opinion on the company's 2023 annual report and internal control report, highlighting issues raised by Xie [5][6]. - Specific procurement issues were noted, including a prepayment of 34.0973 million yuan for idle materials that were later deemed unnecessary for the project [6].