Zhejiang Power New Energy (SH:688184) 中国基金报·2025-08-03 13:18Core Viewpoint - ST Pava's actual controller, Zhang Bao, is under investigation for embezzlement, which has raised concerns about the company's governance and financial integrity [2][4]. Group 1: Company Situation - As of August 3, all other directors, supervisors, and senior management of ST Pava are performing their duties normally, and the company's control has not changed [4]. - The company reported that the investigation will not have a significant impact on its daily operations [4]. - ST Pava is actively pursuing the recovery of 191 million yuan (approximately 27.5 million USD) that Zhang Bao allegedly misappropriated [9]. Group 2: Financial Details - Zhang Bao has occupied company funds totaling 191 million yuan, which includes 141 million yuan through suppliers and 49.91 million yuan from sales receivables [9]. - As of the announcement date, the company has received 30 million yuan back from Zhang Bao and is urging him to repay the remaining amount along with interest [9]. - The company's stock price was reported at 10.01 yuan per share, with a total market capitalization of 1.6 billion yuan (approximately 230 million USD) as of August 1 [10]. Group 3: Zhang Bao's Profile - Zhang Bao, aged 54, holds a PhD in Metallurgical Physics and Chemistry and has been involved in academia for many years before joining ST Pava as General Manager in September 2019 and later as Chairman in October 2022 [6]. - He is the second-largest shareholder of ST Pava, holding 16.56 million shares, which accounts for 10.41% of the company [7].