XCEC(SH:600777) Mei Ri Jing Ji Xin Wen·2025-09-20 01:09Core Viewpoint - The article discusses the challenges faced by *ST New潮 (New潮 Energy) following a delayed annual shareholder meeting, regulatory penalties, and ongoing control disputes, highlighting investor concerns regarding asset management and company governance [1][2][7]. Group 1: Company Governance and Control - The annual shareholder meeting of New潮 Energy was delayed by over two months, resulting in a fine of 3 million yuan for the company and 2 million yuan for two former executives [1]. - The company is currently experiencing a power transition between old and new management, with control disputes over its core assets in the U.S. [7]. - Investors are particularly concerned about whether the current board has effectively taken control of overseas assets and the status of ongoing litigation in the U.S. [5][6]. Group 2: Shareholder Meeting Insights - The annual shareholder meeting lasted only about 18 minutes, with limited interaction between management and shareholders, leading to dissatisfaction among investors who traveled long distances to attend [2][6]. - Key issues raised by shareholders included the management of overseas assets and the company's ability to resolve its regulatory issues [5][11]. - The management's quick departure after the meeting left many shareholders feeling unheard and frustrated [6]. Group 3: Financial and Legal Challenges - New潮 Energy is facing significant legal challenges, including a lawsuit against its auditing firm, which could impact future financial reporting and investor confidence [11]. - The company has received "negative opinions" in its internal control audit reports for two consecutive years, raising concerns about its financial integrity [11]. - Despite being under "ST" (special treatment) status, the stock has seen a surge in trading, with nine limit-up days following its resumption of trading [11][12].