GZBL(SZ:002424) Jing Ji Guan Cha Bao·2025-10-26 05:15Core Viewpoint - Guizhou BaiLing reported a significant decline in net profit by 35.60% in the first three quarters of 2025, alongside a lawsuit against its actual controller, Jiang Wei, involving claims of approximately 1.76 billion yuan [1][4]. Financial Performance - In the first three quarters of 2025, Guizhou BaiLing achieved revenue of 2.102 billion yuan and net profit of 57 million yuan, representing year-on-year declines of 24.28% and 35.60%, respectively [1][3]. - The company experienced a revenue drop of 31.77% and a net profit decline of 40.73% in the first half of 2025, with over 80% of revenue coming from traditional Chinese medicine products, which saw a 37.07% decrease [2][3]. - Despite a year-on-year increase in revenue and net profit in Q3, the overall performance for the first three quarters remains significantly below expectations [1][3]. Lawsuit and Its Implications - Jiang Wei, the actual controller of Guizhou BaiLing, is facing a lawsuit from Huachuang Securities for a total of approximately 1.76 billion yuan related to a previous financial rescue plan and stock pledge disputes [4][5]. - The lawsuit could potentially impact the company's equity structure, as Jiang Wei's shares in Guizhou BaiLing are nearly 100% pledged [6][4]. - The background of the lawsuit involves Jiang Wei's investments exceeding 2 billion yuan in local ecological agriculture and tourism projects, which led to liquidity issues prompting the financial rescue plan [7].