RONG FENG HOLDING(SZ:000668) Mei Ri Jing Ji Xin Wen·2025-10-27 06:23Core Viewpoint - The company *ST Rongkong is facing a significant issue with its independent director Liu Changkun being unreachable, which raises concerns about the board's operations and the company's governance [1][3][5]. Group 1: Independent Director Issue - *ST Rongkong has been unable to contact independent director Liu Changkun through various means, including phone and WeChat, since the notice of the board meeting was issued on October 14 [1][5]. - Liu Changkun, aged 67, has served as an independent director since April 23, 2020, and his current term is set to end on December 20, 2026 [3][5]. - The company is monitoring the situation closely and may consider measures such as appointing a new independent director to ensure proper board operations [7][3]. Group 2: Financial Performance - In the third quarter of 2025, *ST Rongkong reported a significant increase in revenue, achieving 67.91 million yuan, a 249.21% increase year-on-year [9][10]. - For the first nine months of 2025, the company’s total revenue reached approximately 185 million yuan, reflecting a year-on-year growth of 377.55% [9][10]. - Despite the revenue growth, the company reported a net loss attributable to shareholders of 2.39 million yuan in the third quarter, although this was an 85.75% reduction compared to the previous year [11][10]. Group 3: Cash Flow and Financial Health - The company’s cash flow remains tight, with a net cash flow from operating activities of -1.87 million yuan for the first nine months of 2025, indicating significant cash consumption in the third quarter [12][13]. - As of September 30, 2025, the company’s cash balance had decreased to 994.13 million yuan from 5.38 million yuan at the beginning of the year [13].