Core Viewpoint - The recent announcement from *ST Chuangxing regarding the chairman's detention has significantly impacted the company's reputation and investor confidence, despite claims that the investigation is unrelated to the company [1][3]. Financial Performance - In 2024, *ST Chuangxing reported total revenue of 84.01 million yuan, a year-on-year decline of 35.53%, with a net loss of 193 million yuan, a staggering drop of 814.99% [2]. - For Q1 2025, the company’s revenue plummeted to 24,770 yuan, a 97.83% decrease year-on-year, with a net loss of 5.29 million yuan, down 311.83% [2]. - The half-year performance forecast for 2025 indicates an expected net loss widening to between 12.5 million and 15.5 million yuan, with a non-recurring net loss projected between 13 million and 16 million yuan [2]. Governance and Compliance Issues - The company has a history of regulatory violations, including the investigation of former actual controller Yu Zengyun for suspected fundraising fraud, leading to the judicial freeze of 102 million shares held by the controlling shareholder [2]. - Previous internal control deficiencies resulted in financial reporting errors, prompting warnings from the Shanghai Securities Regulatory Bureau and the Shanghai Stock Exchange [2]. Management Response - Following the chairman's detention, the company appointed Yang Zhe to act as chairman and legal representative, while the management team continues daily operations [1]. - To restore investor confidence, the company must transparently disclose details regarding the chairman's situation, enhance internal governance, and focus on core business operations to improve performance [3].
公司快评 |违规不断，业绩持续亏损， *ST创兴欲走出困境还需更积极整改