ECH(SH:603200) Zheng Quan Shi Bao Wang·2025-07-02 10:38Group 1 - The solid-state battery industry has seen significant progress in commercialization this year, with related stocks experiencing substantial gains, including a doubling in price for companies like Jinlongyu, Xinyuren, Keheng Co., and Shanghai Xiba [1] - Shanghai Xiba's 2024 annual report mentions solid-state batteries over 60 times, indicating a strong focus on this technology, yet the actual investment in this area has been minimal, raising concerns about potential misleading statements [1][4] - The company's high frequency of mentioning solid-state batteries contrasts sharply with its low investment levels, leading to suspicions of misleading disclosures and potential regulatory violations [1][4] Group 2 - Despite the stock price surge, Shanghai Xiba's controlling shareholder announced plans to reduce holdings by up to 3%, raising questions about the motivations behind this decision amid the company's stock price increase [3] - The controlling shareholder has engaged in multiple internal share transfers to private funds since 2022, which has led to further scrutiny regarding the transparency of these transactions [3] - Shanghai Xiba's financial performance has been declining, with a significant drop in net profit from 40.73 million yuan in 2022 to 14.19 million yuan in 2024, indicating deteriorating profitability and cash flow [4]