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豪门小说照进现实!34岁长子内斗43岁后妈!长子出局成老赖,公司市值蒸发超百亿...
雪球·2025-07-06 07:50

Core Viewpoint - The internal power struggle within Singshan Holdings following the sudden death of its founder, Zheng Yonggang, has led to significant declines in the company's market value and financial performance, with a notable impact on its operations and future outlook [1][3]. Group 1: Internal Conflict - The sudden death of Zheng Yonggang in February 2023, without a will or clear distribution of shares, triggered a family dispute over the control of Singshan Holdings [5][6]. - Zheng Yonggang's estate involves six legal heirs, with his wife, Zhou Ting, claiming 80% of the shares while his son, Zheng Ju, insists he was designated as the successor [6]. - Zheng Ju was elected chairman shortly after his father's death, but this was contested by Zhou Ting, leading to legal battles over the company's control [6][8]. Group 2: Impact on Company Performance - The internal conflict has adversely affected the company's operations, with its market value dropping from approximately 400 billion to 200 billion within two years [3][10]. - Singshan Holdings reported a revenue of 18.68 billion yuan in 2024, a year-on-year decrease of 2.05%, and a net profit loss of 367 million yuan, a significant decline of 147.97% from a profit of 765 million yuan in 2023 [12]. Group 3: Debt Issues and Restructuring - The internal strife has severely impacted the controlling shareholder, Singshan Group, which is facing financial difficulties and has entered judicial restructuring [14][15]. - Singshan Group's debt issues escalated, with over 95% of its debt maturing within a year, totaling 12.62 billion yuan, including 12.04 billion yuan in short-term debt [15]. - The company has been unable to meet its loan obligations, leading to multiple defaults and a court-ordered restructuring process [15]. Group 4: Future Uncertainties - Despite entering restructuring, uncertainties remain for Singshan Holdings, particularly regarding control changes due to ongoing legal and financial challenges [19]. - The shareholding of the controlling party has been decreasing due to judicial auctions, with the latest ownership dropping to 26.36% [19]. - Recent investments by notable individual investors have sparked speculation about potential recovery, as the company's stock is currently undervalued compared to competitors [19][20].