SHANSHUI TECH.(SZ:301190) 2 1 Shi Ji Jing Ji Bao Dao·2025-10-20 11:56Core Viewpoint - The announcement from Shanshui Technology regarding the criminal coercive measures taken against its actual controller and chairman Huang Guorong has led to significant market reactions, including a sharp decline in stock price, raising concerns about potential information leakage [1][2]. Group 1: Company Management Changes - On October 19, Huang Guorong was subjected to criminal coercive measures, prompting Shanshui Technology to hold an emergency board meeting on October 20 [1]. - During the board meeting, director Wu Xinyan was appointed to assume the roles of chairman and legal representative in Huang's absence [1]. - The company reassured that it has a stable management system and governance structure, and operations are continuing normally [1]. Group 2: Market Reaction - Following the announcement, Shanshui Technology's stock price fell sharply, closing down 17.04% at 22.88 yuan per share after hitting the daily limit down [1]. - There are allegations from investors on social media suggesting that the news may have been leaked prior to the official announcement [1]. Group 3: Company Background and Financial Performance - Shanshui Technology, established in 2012, specializes in the R&D, production, and sales of dye intermediates, pesticides, and pharmaceutical intermediates, with a key product being 2,3-dichloropyridine [2]. - The company went public on the ChiNext board in 2021 [2]. - Huang Guorong and Wu Xinyan, who are married, collectively hold over 45% of the company's shares [2]. - For 2024, Shanshui Technology reported a revenue of 505 million yuan, a year-on-year increase of 1.88%, but a significant drop in net profit by 47.63% to 60 million yuan [2]. - In the first half of 2025, revenue increased by 23.08% to 305 million yuan, yet net profit decreased by 11.66% to 48 million yuan [2]. - The decline in net profit is attributed to external market factors, reduced product prices, and insufficient capacity release during trial production of fundraising projects [2].