KNT(SZ:300225) Mei Ri Jing Ji Xin Wen·2025-09-13 10:09Core Viewpoint - The recent extraordinary general meeting of *ST Jintai (Jinlitai) revealed internal conflicts regarding board control, with significant changes in board composition and concerns over potential delisting risks [2][4][6]. Group 1: Shareholder Meeting and Board Changes - The extraordinary general meeting was convened at the request of Hainan Dahe Enterprise Management Co., which previously aimed to dismiss and replace certain directors, but later canceled its proposals [2][6]. - Liu Ruiming, who was elected to the board on July 22, has voted against several proposals, indicating ongoing tensions within the board [5]. - The board now includes two new directors: Ma Anle, nominated by shareholder Wu Guozheng, and Guo Hainan, nominated by a group of shareholders [5]. Group 2: Concerns Over Delisting Risks - Hainan Dahe withdrew its director nominations due to concerns from candidates about the company's potential delisting risks [6]. - *ST Jintai has faced scrutiny from the Shanghai Securities Regulatory Bureau due to delays in disclosing its 2024 annual report and receiving an audit report with "unable to express an opinion" [6]. - The company has not yet met the delisting criteria, and management is actively addressing the issues raised by regulatory bodies [6]. Group 3: Management's Response and Future Plans - The new management team, led by Chairman Gao Daqing, is focused on improving internal controls and addressing financial issues, including recovering debts from suppliers [6]. - The company aims to enhance its research and development efforts and strengthen its multi-business layout to achieve its goals [6][7].