Zheng Quan Zhi Xing·2025-07-01 16:40Core Viewpoint - The actual controller and chairman of Jiangsu Baichuan High-tech New Materials Co., Ltd. has been detained, which may have significant implications for the company and its bondholders [2]. Group 1: Company Situation - The company received notification from the family of its actual controller and chairman, Mr. Zheng Tiejiang, regarding his detention and investigation by the Jiangyin Municipal Supervisory Committee [2]. - The company has a robust governance structure and internal control mechanisms in place, ensuring compliance with relevant laws and regulations [2]. - As of the report date, other board members, supervisors, and senior management are performing their duties normally, and the company's control has not changed [2]. Group 2: Bond Management - CITIC Securities, as the bond trustee for Baichuan Convertible Bonds (Baichuan Zuan 2), is closely monitoring matters that significantly affect bondholders' rights [2][3]. - The trustee has communicated with the issuer regarding the situation and will continue to monitor the issuer's ability to repay the principal and interest of the bonds [3]. - The trustee will adhere to the regulations and agreements outlined in the bond trustee management guidelines and the trust agreement [3].