张宝，被批准逮捕！

Core Viewpoint - ST Pava is facing significant challenges due to the arrest of its co-actual controller and board member Zhang Bao for embezzlement, which has raised concerns about the company's governance and future performance [1][3]. Group 1: Company Governance and Management Changes - On August 1, 2025, ST Pava received a notice from law enforcement regarding the investigation of Zhang Bao for embezzlement [1]. - The company has confirmed that other board members and senior management are continuing their duties normally, and there has been no change in control [3]. - Zhang Bao, who served as the general manager since September 2019 and chairman since October 2022, resigned from his positions due to health reasons on May 21, 2023, but remains a board member [5]. Group 2: Financial Performance and Challenges - In 2022, ST Pava reported revenue of 1.656 billion yuan, a year-on-year increase of 91.21%, and a net profit of 146 million yuan, up 74.52% [7]. - However, in 2023, the company's performance deteriorated sharply, with revenue dropping to 1.284 billion yuan and a net profit of 19.12 million yuan, followed by a reported net loss of 97.37 million yuan in the annual report [8]. - The company attributed the losses to accounting discrepancies and increased competition in the market, particularly from lithium iron phosphate products [8]. - In the first quarter of 2025, ST Pava's main revenue fell to 80.01 million yuan, a year-on-year decline of 72.59%, with a net loss of 56.01 million yuan [9].