BLB(SZ:002286) Mei Ri Jing Ji Xin Wen·2025-11-17 13:29Core Viewpoint - The resignation of Dai Sijue, the youngest chairman in A-share history, comes amid a strong performance rebound for Baolingbao, raising questions about underlying financial pressures within the company's controlling entities [1][2][3] Group 1: Resignation Details - Dai Sijue submitted his resignation as chairman and board member of Baolingbao on November 17, 2023, citing personal reasons [2] - He will continue to hold positions in Baolingbao's subsidiaries, indicating a partial retention of influence [2] - Dai Sijue became chairman in March 2021 at the age of 26, during a peak period for the sugar-free beverage market [2][3] Group 2: Company Performance - Baolingbao reported a net profit of 111 million yuan for 2024, a year-on-year increase of 105.97%, and a significant rise in non-recurring net profit by 254.56% [3] - For the first three quarters of 2025, the company achieved a revenue of 2.126 billion yuan, up 15.98%, and a net profit of 134 million yuan, reflecting a 32.58% increase [3] - The growth is attributed to increased sales of core products such as sugar-reduced sweeteners and dietary fibers, alongside improved gross margins [3] Group 3: Control and Financial Pressures - The actual control of Baolingbao shifted from Dai Sijue alone to a joint control with his brother, Dai Sicong, in August 2024 [4] - A planned share buyback by Dai Sicong's investment firm has faced delays due to "funding arrangements," with the initial commitment to acquire 5% of shares not met [4][5] - Dai Sijue's investment firm, Yongyu Investment, has been listed as a defendant in multiple court cases, with total amounts exceeding 280 million yuan, indicating financial strain [1][5]