MENDALE(002397) Huan Qiu Wang·2025-05-26 06:18Core Viewpoint - Mengjie Co., Ltd. has faced scrutiny regarding its internal governance following the issuance of multiple correction announcements related to its board meeting resolutions and annual report [1][3]. Group 1: Correction Announcements - Mengjie Co., Ltd. issued a correction announcement on May 23 regarding its annual report, followed by another correction on May 25 concerning the board meeting resolution from April 28 [1]. - The correction revealed that board member Chen Jie initially voted against the "2025 Director Remuneration Plan," but this was later amended to an abstention [3]. Group 2: Concerns Raised by Board Member - Chen Jie expressed concerns about the company's financial data disclosure and the lack of institutional control over significant business operations, which hindered the assessment of the diligence of non-independent directors and the associated risks for independent directors [3]. - During the board meeting, Chen Jie opposed seven out of fifteen important resolutions, including the "2024 Board Work Report," primarily due to doubts regarding the company's fund flows and internal control quality [3]. Group 3: Specific Financial Concerns - Chen Jie highlighted a specific instance where Mengjie Co., Ltd. provided a guarantee of 150 million yuan to its subsidiary, Fujian Dafang Sleep Technology Co., Ltd., despite the subsidiary previously providing 66.0273 million yuan in financial assistance to its legal representative, which had not been recovered [4]. - The financial assistance to the legal representative was not subjected to board review or disclosure obligations, leading to significant losses for Mengjie Co., Ltd. due to bad debt provisions [4]. Group 4: Errors in Annual Report - Mengjie Co., Ltd. previously issued a correction for errors in its annual report regarding the positions and remuneration of its independent directors, mistakenly listing two independent directors as "directors" and incorrectly stating that they received compensation from related parties [5].