OIMT(SZ:002175) Chang Jiang Shang Bao·2025-06-17 17:17Core Viewpoint - The controlling shareholder of Dongfang Zhizao (002175.SZ) has received regulatory penalties for failing to fulfill performance compensation obligations as per the company's restructuring plan [1][2]. Group 1: Performance Compensation Obligations - Kexiang High-tech Development Co., Ltd. (Kexiang High-tech), as the investor in Dongfang Zhizao's restructuring, committed to ensuring a total net profit of no less than 250 million yuan over three fiscal years post-restructuring [1]. - From 2022 to 2024, Dongfang Zhizao reported a total net profit of 38.85 million yuan, falling short of the performance commitment by 211 million yuan [1][2]. - Kexiang High-tech has paid 40 million yuan in performance compensation but has not fulfilled the full obligation by the deadline of May 28, 2025 [1][2]. Group 2: Regulatory Actions - The Guangxi Securities Regulatory Bureau has mandated Kexiang High-tech to correct its actions and has recorded this in the capital market integrity archive [2]. - Kexiang High-tech is required to take effective measures to complete the performance compensation obligations and submit a written rectification report [2]. Group 3: Company Financial Performance - After restructuring, Dongfang Zhizao returned to profitability, with 2022 revenues of 274 million yuan and a net profit of 107 million yuan, marking the end of five consecutive years of losses [2]. - In 2023 and 2024, the company achieved revenues of 275 million yuan and 326 million yuan, with net profits of approximately 44 million yuan and 17 million yuan, respectively [2]. Group 4: Shareholding and Control Changes - Despite changes in actual control, Kexiang High-tech remains responsible for compensating Dongfang Zhizao for unmet performance commitments [3]. - Kexiang High-tech has pledged 78.3% of its shares in Dongfang Zhizao, totaling 192 million shares, with 7 million shares set to mature within the next year [3].