GXSH(SZ:000716) 2 1 Shi Ji Jing Ji Bao Dao·2025-08-04 09:33Core Viewpoint - Black Sesame (000716.SZ) announced that its controlling shareholder, Guangxi Black Five Categories Food Group, is planning to transfer its shares, which may lead to a change in company control. The stock will be suspended for up to two trading days starting August 4, 2025 [1]. Group 1: Share Transfer and Control Change - The controlling shareholder intends to transfer approximately 20% of the company's total shares to a state-owned enterprise in Guangxi's cultural tourism and health industry [1]. - The involved parties are currently discussing the specific transaction plan and agreements, but no formal agreements have been signed yet [1]. Group 2: Stock Performance - Black Sesame's stock price has been volatile this year, with a decline of 4.94% from the beginning of the year. As of August 1, the stock closed at 6.54 CNY per share, with an intraday increase of 4.81% [2]. Group 3: Information Disclosure Issues - The company has faced multiple issues regarding information disclosure, including a warning letter from the Guangxi Securities Regulatory Bureau for non-operational fund occupation and unauthorized external guarantees [4]. - Significant disclosure failures were noted, such as the failure to timely disclose the occupation of company funds by the controlling shareholder and related parties [4]. Group 4: Financial Performance - Black Sesame's financial performance has been poor in recent years, with revenue only slightly increasing in 2021, while other years saw significant declines. The net profit fluctuated dramatically, with losses exceeding 200 million CNY in 2021 and 2022, followed by a slight recovery in 2023 and 2024 [6]. - In Q1 2025, the company reported revenue of 442 million CNY, a year-on-year decrease of 3.74%, and a net profit of 2.25 million CNY, down 29.61% year-on-year [6]. Group 5: Past Business Ventures - Black Sesame has attempted several cross-industry transformations that did not meet expectations, including a 256 million CNY acquisition of a logistics park in 2015, which was divested two years later [6]. - The company also invested 700 million CNY in an e-commerce platform, which faced performance issues, leading to a reduction in its e-commerce operations in 2024 [6]. - In 2023, Black Sesame announced a 3.5 billion CNY investment in the energy storage battery sector, but the project was suspended a year later due to market conditions [6].