Core Viewpoint - The internal conflict within Reliable Co., Ltd. has intensified, highlighted by the opposition from the founder's ex-wife, Bao Jia, against several board resolutions, raising concerns about the company's management and governance [2][3][10]. Group 1: Board Meeting and Resolutions - On August 21, Reliable Co. held a board meeting where four resolutions were voted on, all of which passed despite Bao Jia's dissent on three of them, particularly regarding the appointment of Wang Xiangting as the new Secretary of the Board and Deputy General Manager [3][4]. - Bao Jia criticized Wang's lack of experience in listed companies and questioned his professional capabilities, suggesting he is more suited for the role of Chairman's Secretary rather than Secretary of the Board [3][4]. Group 2: Regulatory Issues - On August 26, Reliable Co. received a warning letter from the Zhejiang Securities Regulatory Bureau due to violations in disclosing related party transactions, which led to regulatory discussions with founder Jin Liwei and CFO Li Chaonan [7][9]. - The company was found to have failed to timely fulfill the necessary review procedures and disclosure obligations regarding related party transactions amounting to 21.12 million yuan, which constituted 1.54% of the company's latest audited net assets [9]. Group 3: Financial Performance - For the first half of the year, Reliable Co. reported a revenue increase of 5.39% to 549 million yuan and a net profit growth of 21.81% to 28.28 million yuan, with specific segments like adult incontinence products and baby care products showing positive growth [14]. - Despite the recent revenue growth, the company's overall performance has been declining since its listing, with revenues dropping from 1.174 billion yuan in 2019 to 1.079 billion yuan in 2024, and net profits fluctuating significantly, including a loss in 2021 [14]. Group 4: Management Criticism - Bao Jia has publicly criticized Jin Liwei's management decisions, particularly regarding investments in loss-making companies and the handling of the Du Di brand's sales, which have resulted in significant financial losses [10][12]. - Reliable Co. defended its investment strategy as a long-term approach and claimed that the losses from the Du Di brand were part of a broader strategy to enhance channel collaboration and improve operational efficiency [12][14]. Group 5: Market Reaction - Following the news of internal conflicts and regulatory issues, Reliable Co.'s stock closed at 15.85 yuan, down 0.25% on August 26 [17].
可靠股份内斗再激化！实控人被约谈 前妻炮轰公司经营决策