Skyray Instrument(SZ:300165) Mei Ri Jing Ji Xin Wen·2025-11-30 23:17Core Viewpoint - ST Tianrui (SZ300165) is planning a change in control, which may lead to a shift in its major shareholder and actual controller, Liu Zhaogui, who currently holds 20.37% of the company's shares [2][3][6]. Group 1: Control Change Announcement - Liu Zhaogui, the founder and actual controller of ST Tianrui, is in the process of planning a change in the company's control, with the stock being suspended from trading starting December 1, 2023, for no more than two trading days [2]. - The transaction related to the control change is still uncertain, as no agreements have been signed, and discussions regarding the specific transaction plan are ongoing [3]. Group 2: Regulatory Issues and Penalties - ST Tianrui has been under risk warning since December 2024 due to violations related to revenue recognition, leading to a warning and fines totaling 3 million yuan for the company and additional fines for Liu Zhaogui and other executives [3][7]. - The previous attempt to change control was halted due to an investigation by the China Securities Regulatory Commission (CSRC) [4]. Group 3: Financial Performance - ST Tianrui's financial performance has been declining, with revenue dropping to 851 million yuan in 2024, only 55.2% of its 2021 revenue, and a cumulative net loss of 354 million yuan since 2021 [7]. - The company specializes in analytical testing instruments and environmental governance, with core products including spectrometers and chromatographs [7].