GZBL(SZ:002424) Sou Hu Cai Jing·2025-12-04 13:00Core Viewpoint - Guizhou BaiLing's stock price dropped significantly following the announcement of its actual controller, Jiang Wei, being investigated by the China Securities Regulatory Commission (CSRC) for insider trading and information disclosure violations, adding to the company's existing performance challenges [1][2]. Group 1: Investigation and Leadership Impact - Jiang Wei, the core figure of Guizhou BaiLing, is under investigation, which may lead to a leadership vacuum and raise market suspicions about the company's stability, potentially affecting investor confidence and causing stock price declines [3]. - Jiang Wei expressed his commitment to cooperate with the investigation and highlighted ongoing personal and corporate challenges, including a significant lawsuit from Huachuang Securities and the potential for the company's stock to be classified as ST (special treatment) in the first half of 2024 [2]. Group 2: Legal Disputes - A legal dispute with Huachuang Securities involves a claim of 1.761 billion yuan, stemming from a failed rescue cooperation initiated in 2020, where Guizhou BaiLing sought financial support due to high debt levels and stock pledge rates [4]. - Jiang Wei has counter-sued Huachuang Securities, accusing them of failing to exit the agreement as promised and seeking damages for stock price losses due to alleged malicious reporting [5]. Group 3: Financial Performance - Guizhou BaiLing's financial performance has deteriorated, with a reported revenue of 2.102 billion yuan for the first three quarters of the year, a 24.28% decrease year-on-year, and a net profit of 56.81 million yuan, down 35.60% [7]. - The company has only achieved 52.55% of its annual revenue target of 4 billion yuan and less than half of its net profit goal of 120 million yuan, attributing the decline to high reliance on specific product categories and external market pressures [6][7]. Group 4: Strategic Measures - The company is implementing self-rescue measures, including a shift from a large-package marketing model to a direct sales model, and is conducting phase III clinical trials for its diabetes-related product [8].