
Core Viewpoint - Black Sesame (000716) announced that its controlling shareholder, Guangxi Black Five Food Group, is planning to transfer its shares, which may lead to a change in the company's control [1][4]. Group 1: Share Transfer Announcement - The controlling shareholder is planning to transfer approximately 20% of its shares to a state-owned enterprise in the cultural tourism and health industry in Guangxi [4]. - The company has applied for a trading suspension, effective from August 4, with an expected duration of no more than two trading days [1][4]. Group 2: Financial Performance - In 2024, Black Sesame reported a revenue of 2.465 billion yuan, a year-on-year decrease of 7.92%, while the net profit attributable to shareholders was 77.74 million yuan, an increase of 80.46% [5]. - For the first quarter of 2025, the company achieved a revenue of 442 million yuan, a year-on-year decrease of 3.74%, and a net profit of 2.25 million yuan, a decline of 29.61% [5]. Group 3: Regulatory Issues - The company received a warning letter from the Guangxi Securities Regulatory Bureau due to non-operating fund occupation and irregular external guarantees involving its controlling shareholder and related parties [6]. - Black Sesame has faced issues with corporate governance, including improper roles in shareholder meetings and lack of written records for board meetings [6].