JJHB(SH:603279) Sou Hu Cai Jing·2025-06-13 07:00Core Viewpoint - The stock price of Jingjin Equipment (603279.SH) experienced a significant drop of 6.57% to 15.07 CNY per share following the announcement of the investigation into its actual controller and chairman, Jiang Guiting [1][2]. Company Overview - Jiang Guiting, born in 1958, is the core driving force behind Jingjin Equipment, which has grown from a small factory established in 1988 to a leading global manufacturer in the filter press industry, going public in 2019 [3]. - As of October 2024, Jiang Guiting's family holds a wealth of 5.5 billion CNY, ranking 940th on the 2024 Hurun Rich List, and is recognized as the richest family in Dezhou, Shandong [3]. Recent Developments - On June 12, Jingjin Equipment announced that Jiang Guiting has been placed under investigation and detention by the Baode County Supervisory Committee, although the company stated that other board members and management are functioning normally and that operations are not significantly impacted [2]. - The company confirmed that it would provide further updates regarding Jiang Guiting's situation as more information becomes available [2]. Financial Performance - Jingjin Equipment is facing considerable downward pressure on its financial performance, with total revenue for 2024 reported at 6.129 billion CNY, a year-on-year decline of 1.92%, and a net profit attributable to shareholders of 848 million CNY, down 15.86% [5]. - In the first quarter of 2025, the company reported a revenue of 1.406 billion CNY, a decrease of 6.7% year-on-year, and a net profit of 167 million CNY, reflecting a 26.99% decline [5].