Core Viewpoint - The internal conflicts within Reliable Co., Ltd. have intensified, particularly following the divorce of its founders, leading to significant governance and operational issues that have raised concerns among shareholders and regulators [3][4][14]. Group 1: Internal Conflicts and Governance Issues - The board meetings of Reliable Co., Ltd. have been marked by intense disputes, particularly with the second-largest shareholder and former general manager, Bao Jia, frequently voting against key proposals and highlighting serious internal management problems [3][4]. - Bao Jia has raised concerns about excessive related-party transactions that have not been approved by the board, indicating that these issues are under regulatory investigation [3][4]. - Despite Bao Jia's requests for temporary shareholder meetings to address related-party transactions, these requests have been denied by the board [3][4]. Group 2: Financial Performance and Strategic Decisions - The company has faced significant financial challenges, with reported losses of 34.39 million yuan in 2024 and continued losses in the first half of the year [4]. - The decision to invest in a loss-making enterprise without buyback clauses has been criticized, with the company reporting a loss of 14.07 million yuan from a specific product line in 2024 [4]. - Following its IPO in 2021, the company experienced a dramatic decline in revenue and net profit, with a 27.44% drop in revenue and an 81.43% drop in net profit in the same year [17]. Group 3: Leadership and Management Changes - The appointment of Wang Xiangting as vice general manager and board secretary has been met with opposition from Bao Jia, who questions his qualifications and professional ethics [5][6]. - The company has seen frequent changes in its board secretary since its listing, indicating potential instability in management [5][6]. - The relationship between the founders has deteriorated post-divorce, impacting the company's governance and operational effectiveness [14]. Group 4: Company Background and Market Position - Reliable Co., Ltd. has been involved in the design, production, and sale of personal hygiene products since its establishment in 2001, initially focusing on OEM for major brands before shifting to its own brands [15]. - The company achieved significant revenue growth prior to its IPO, with a notable increase in net profit driven by a temporary mask production line during the pandemic [15][16]. - However, the inability to sustain this growth post-IPO has raised concerns about the company's long-term viability and strategic direction [17][18].
“前老板娘”火力全开，炮轰可靠股份不可靠