从博士生导师沦为囚徒的上市公司董事长

Core Viewpoint - The downfall of Zhang Bao, the former chairman of Pava Co., Ltd., highlights a dramatic shift from a successful academic and entrepreneur to a criminal suspect due to financial misconduct and mismanagement of company funds [4][5][9]. Company Overview - Zhang Bao was a prominent figure in Pava Co., Ltd., serving as the actual controller and chairman since October 2022, while also being a doctoral advisor at Central South University [4][5]. - Pava Co., Ltd. specializes in the research, production, and sales of lithium-ion and sodium-ion battery cathode materials [13]. Financial Performance - Pava Co., Ltd. projected a net profit of approximately 18 to 20 million yuan for 2023, but instead reported a net loss of 248 million yuan, a stark contrast to its previous best performance of 146 million yuan in 2022 [7][14]. - The company has faced significant financial deterioration since its listing, with losses of 248 million yuan in 2023 and an expected increase to 726.5 million yuan in 2024 [14][16]. Misconduct and Legal Issues - Zhang Bao resigned citing "personal health reasons," but was later arrested for embezzlement, having misappropriated approximately 191 million yuan from the company [5][9]. - The company has been criticized by the Shanghai Stock Exchange and received warnings from the Zhejiang Securities Regulatory Bureau due to financial fraud and information disclosure violations, leading to a risk warning designation [9][16]. Industry Context - Pava Co., Ltd. has struggled with increased competition in the electric vehicle battery market, particularly as lithium iron phosphate batteries have gained market share over ternary lithium batteries, which are the company's primary focus [14][16]. - The shift in technology trends has placed additional pressure on Pava Co., Ltd.'s financial performance post-listing, exacerbating its challenges [16].