CLTG(SZ:002306) Mei Ri Jing Ji Xin Wen·2025-12-03 02:40Core Viewpoint - *ST Yunwang is facing significant financial and reputational risks due to a lawsuit filed by Yangzhou Kechuang Fund, which demands repayment of 47 million yuan in principal and related interest, highlighting issues in corporate governance and risk management [1][2]. Group 1: Legal Issues - The lawsuit stems from a debt investment agreement where Yangzhou Kechuang Fund provided 50 million yuan to the subsidiary Zhongke Gaoyou, with *ST Yunwang and its actual controller Chen Ji providing unlimited joint liability guarantees [1]. - Zhongke Gaoyou failed to repay the principal and interest as per the repayment agreement signed on April 30, 2025, leading to the current legal action [1]. Group 2: Financial Performance - *ST Yunwang has reported a continuous net profit loss for 12 years from 2013 to 2024, with a net profit of -20.16 million yuan and a non-recurring net profit of -21.87 million yuan in the first three quarters of 2025, despite a 79.99% year-on-year revenue increase [2]. - The company's asset-liability ratio stands at a high 91.09%, and it faces delisting risk due to negative net assets and insufficient revenue [2]. Group 3: Recommendations for Improvement - The company needs to actively respond to the lawsuit and seek a settlement with Yangzhou Kechuang Fund to mitigate financial impacts [2]. - Strengthening internal governance and risk assessment mechanisms is essential to prevent similar high-risk decisions in the future [2]. - Focusing on core business operations and potentially bringing in strategic investors or restructuring assets could help improve the balance sheet and restore market confidence [2].