CYG(SH:600525) Mei Ri Jing Ji Xin Wen·2025-11-25 07:12Core Viewpoint - ST Changyuan's chairman Qiao Wenjian has been placed under detention for suspected job-related violations, but the company claims this will not significantly impact its normal operations [1][2]. Group 1: Company Announcement - On November 24, ST Changyuan announced it received a detention notice for its chairman Qiao Wenjian from the Huizhou Huiyang District Supervisory Committee [1]. - As of the announcement date, the company has not received any investigation documents from authorities and is unaware of the progress or conclusions of the detention investigation [1][2]. Group 2: Background of Qiao Wenjian - Qiao Wenjian, born in 1983, joined ST Changyuan in 2021 and has held various positions including special assistant to the chairman, vice president, and president before becoming chairman in September 2025 [1][5]. - Prior to joining ST Changyuan, Qiao worked at the Shenzhen branch of the Bank of China in various roles [5]. Group 3: Previous Management Issues - The former chairman Wu Qiquan was implicated in a case involving the misappropriation of company funds through a third party, leading to his resignation in September 2025 [1][5]. - The company faced internal control issues, with an audit report for the 2024 fiscal year indicating significant deficiencies, resulting in the stock being placed under risk warning since April 30, 2023 [7][8]. Group 4: Board Dynamics - Some board members opposed Qiao Wenjian's election as chairman, citing concerns over the company's internal control weaknesses and the need to tighten decision-making authority within the board [8]. - Recent board meetings have seen dissent regarding proposals to amend governance structures, reflecting ongoing tensions within the company's leadership [8].