HES(SZ:002963) Shen Zhen Shang Bao·2025-11-17 06:21Core Viewpoint - The company, Haosai Technology Group Co., Ltd., is facing legal challenges due to bribery charges against its former chairman, Dai Baolin, which has resulted in significant penalties and an ongoing appeal process [1][2]. Legal Proceedings - The company was fined 7 million RMB for unit bribery, while Dai Baolin received a three-year prison sentence with a four-year probation and a fine of 3 million RMB [2]. - The Hubei Province Wuhan New District People's Procuratorate has filed an appeal against the leniency of the sentence, indicating potential changes in the final judgment [1][2]. Company Management Changes - Dai Baolin is no longer in any core positions within the company following the investigation and legal proceedings [1][3]. - The company has undergone management changes, with Dai Baolin previously serving as both chairman and general manager during the investigation period [3]. Financial Performance - For the first three quarters of 2025, the company reported revenues of 265 million RMB, a year-on-year decline of 29.79%, with a net loss of 26 million RMB [3]. - In the third quarter, the company achieved revenues of 107 million RMB, reflecting a year-on-year growth of 31.34%, and a net profit of 7.4 million RMB, indicating a turnaround from previous losses [3]. Industry Context - The decline in revenue is attributed to adjustments in investment rhythms in the infrastructure and real estate sectors, leading to a temporary fluctuation in demand within the lighting engineering industry [3].