宁德时代、比亚迪供应商，锂电上市公司前董事长被立案侦查

Core Viewpoint - The investigation of Zhang Bao, a key figure in Pava New Energy, raises concerns about the company's internal controls and financial management, impacting its stock performance and investor confidence [2][3][4]. Group 1: Company Background - Pava New Energy, established in 2014, is a significant player in the domestic ternary precursor materials sector, focusing on the R&D, production, and sales of lithium-ion battery ternary cathode material precursors [5]. - The company has supplied major battery manufacturers like CATL and BYD, leveraging its technological advancements in high-nickel ternary precursors [5]. - Pava New Energy was listed on the STAR Market on September 19, 2022 [5]. Group 2: Recent Developments - On August 3, 2025, Pava New Energy announced that Zhang Bao was under investigation for embezzlement, following his resignation from key positions in May 2025 due to health reasons [2][3]. - Prior to the investigation, Zhang Bao was found to have occupied company funds totaling 191 million yuan, with significant amounts allocated for personal consumption and investments [3][4]. - As of July 25, 2025, the company reported receiving 30 million yuan back from Zhang Bao, with ongoing efforts to recover the remaining funds [4]. Group 3: Financial Performance - Pava New Energy experienced a drastic decline in performance post-IPO, with a revenue drop of 29% in 2023 and a net loss of 97.37 million yuan [6]. - The 2024 annual report indicated a slight revenue decrease of 0.6% to 949 million yuan, with a net loss of 727 million yuan [6]. - The company's stock was subjected to additional risk warnings starting July 28, 2025, due to these financial issues [4].