Mei Ri Jing Ji Xin Wen·2025-09-18 16:18Core Viewpoint - The ongoing investigation into former controlling shareholder Yu Zengyun for suspected fundraising fraud continues to impact *ST Chuangxing (600193.SH), with the company's chairman Liu Peng currently under police investigation, although it is stated that the investigation is unrelated to the company [2][4][5]. Group 1: Company Management Changes - Liu Peng has been detained by the Hangzhou police, and during his absence, Yang Zhe, a board member and general manager, will act as chairman and legal representative of the company [3]. - Yang Zhe has faced opposition regarding his appointment as president due to a lack of experience in listed companies, receiving 4 votes in favor and 1 against during the vote [3]. - Yang Zhe joined the company in October 2024, meaning he has been with the company for less than a year before taking on these significant responsibilities [3]. Group 2: Company Background and Business Operations - *ST Chuangxing was listed in May 1999 and primarily engages in construction engineering, mobile information services, and computing power services [3]. - The company’s main products include construction decoration, mobile information services, and computing power services [3]. Group 3: Financial Performance and Market Reaction - In the first half of 2025, *ST Chuangxing reported revenue of only 374,000 yuan, a 99% decrease year-on-year, with a net loss of 13.71 million yuan, which is approximately double the loss from the previous year [7]. - The company attributed the revenue decline to a lack of new income from construction projects and adjustments in software and information service operations due to financial pressures [7]. - As of September 18, the stock price of *ST Chuangxing was 4.28 yuan, with a market capitalization of 1.821 billion yuan, reflecting a 26% increase in stock price year-to-date [7].