300209 三季报“难产”

Core Viewpoint - The company "有棵树" is facing significant challenges in disclosing its Q3 2025 financial report due to shareholder disputes and management transitions, which have delayed the completion of asset and operational handovers [2][5][6]. Group 1: Financial Reporting Issues - The company announced that it could not disclose its Q3 2025 report by the legal deadline due to incomplete handover of financial documents and responsibilities from the previous management [2][7]. - The former chairman, 肖四清, provided the Q3 financial report on October 30, but the current board and management could not verify its accuracy due to missing necessary documentation [7][8]. - The company has been actively pursuing the completion of the handover process to ensure compliance with financial reporting requirements [5][6]. Group 2: Shareholder Disputes - The company is experiencing a power struggle between its former chairman 肖四清 and the current largest shareholder 王维, which has escalated into legal disputes [11][15]. - 王维, who holds 9.89% of the company's shares, and his associated entities have had their shares subject to judicial freezing due to ongoing litigation initiated by 肖四清 [13][14]. - Both parties are under investigation by the China Securities Regulatory Commission for failing to disclose significant information as required by law [18]. Group 3: Management Transition - The company has initiated a comprehensive takeover of its assets, business, finance, personnel, and locations, but the process has been hindered by the lack of cooperation from some members of the previous board and management [5][6]. - The seventh board of directors has been actively working to ensure that the previous management fulfills their handover obligations to facilitate the timely preparation and disclosure of the Q3 report [5][6].