Core Viewpoint - The recent detention of Wang Yihui, the actual controller and chairman of Wantong Development, poses significant challenges to the company's ongoing transformation towards the communication and digital technology sectors, particularly affecting its planned acquisition of a chip company, Shudu Technology [1][11]. Group 1: Company Background - Wang Yihui, born in 1954, has a history in the grain processing industry and played a key role in the listing of Pioneer Shares, which later became Wantong Development through a reverse merger [1]. - Wantong Development has undergone several ownership changes, with significant influence from Feng Lun, the founder of Wantong Real Estate, who initially took control through capital operations [3][4]. - The company has shifted its focus from real estate to technology, rebranding itself as Wantong Development in 2020 to reflect this change [10]. Group 2: Recent Developments - Following Wang Yihui's detention, Qian Jinzhu, the CEO, has taken over his responsibilities, raising concerns about the stability of the company's strategic direction [1]. - Wantong Development's attempts to enter the chip industry, including a recent plan to acquire Shudu Technology, have been complicated by the leadership crisis and the company's ongoing financial struggles [11][12]. - The company has faced significant financial challenges, including three consecutive years of losses from 2022 to 2024, and cash flow issues that have led to asset pledges and share freezes [10][12]. Group 3: Financial Performance - In 2014, Wantong Development reported a sales figure of 1.228 billion yuan and a net profit of less than 100 million yuan, marking an 81% decline year-on-year [6]. - The projected financial performance for Shudu Technology indicates revenues of 15.81 million yuan, 32.38 million yuan, and 16.28 million yuan for 2023, 2024, and 2025 respectively, with net losses of 62.57 million yuan, 138 million yuan, and 35.98 million yuan [12].
71岁房企董事长被拘留,曾从冯仑手中夺回公司
