Zheng Quan Shi Bao Wang·2025-07-25 05:16Group 1 - The temporary shareholders' meeting of *ST Xinchao (600777) was held on July 24, marking a new phase in the control struggle of the company [1] - The meeting adopted a combination of on-site and online voting, with 1,195 shareholders and agents present, representing 4,707,457,561 shares, accounting for 81.487% of the total voting shares [1] - All proposals regarding the early re-election of the board of directors and the election of non-independent and independent directors were approved, with Zhang Junyu from Yitai Group elected as chairman [1][4] Group 2 - Yitai B shares acquired over 51% of *ST Xinchao's shares, becoming the largest shareholder after investing more than 11.5 billion yuan [1] - The company faced a suspension of trading due to the inability to disclose its regular report within the legal timeframe, with potential delisting risks if the 2024 annual report is not disclosed [2] - After resuming trading on July 8, *ST Xinchao's stock price saw a maximum increase of over 56% in nearly 14 trading days, closing at 4.66 yuan per share on July 25 [2] Group 3 - The transition of the board and management team has been contentious, with multiple rounds of disputes among existing management and minority shareholders [3] - Previous attempts to convene a shareholders' meeting for board re-election were rejected by the current board, leading to a self-convened meeting on July 24 [3][4] - The newly elected board includes several members with backgrounds from Yitai Group, indicating a significant shift in governance [4] Group 4 - Zhang Jingquan, chairman of Yitai B, emphasized the company's experience in coal and petrochemical industries and its commitment to maximizing shareholder value [5] - Yitai Group has a history of significant shareholder returns, having distributed over 36 billion yuan in dividends over 27 years [5]