Core Viewpoint - ST Pava is facing significant challenges due to the arrest of its co-actual controller and board member Zhang Bao for embezzlement, which has raised concerns about the company's governance and future performance [1][3]. Group 1: Company Governance and Management Changes - On August 1, 2025, ST Pava received a notice from law enforcement regarding the investigation of Zhang Bao for embezzlement [1]. - The company has confirmed that other board members and senior management are continuing their duties normally, and there has been no change in control [3]. - Zhang Bao, who served as the general manager since September 2019 and chairman since October 2022, resigned from his positions due to health reasons on May 21, 2023, but remains a board member [5]. Group 2: Financial Performance and Challenges - In 2022, ST Pava reported revenue of 1.656 billion yuan, a year-on-year increase of 91.21%, and a net profit of 146 million yuan, up 74.52% [7]. - However, in 2023, the company's performance deteriorated sharply, with revenue dropping to 1.284 billion yuan and a net profit of 19.12 million yuan, followed by a reported net loss of 97.37 million yuan in the annual report [8]. - The company attributed the losses to accounting discrepancies and increased competition in the market, particularly from lithium iron phosphate products [8]. - In the first quarter of 2025, ST Pava's main revenue fell to 80.01 million yuan, a year-on-year decline of 72.59%, with a net loss of 56.01 million yuan [9].

8月3日晚间，ST帕瓦（688184.SH）公告披露，其于2025年8月1日收到公安机关出具的《立案决定 书》，公司共同实际控制人之一、董事张宝因涉嫌职务侵占被公安机关立案侦查。 此前，张宝在担任ST帕瓦董事长期间曾被披露存在占用公司资金的情况。 对于上述立案事宜，ST帕瓦证券办人士向《中国经营报》记者回应称："目前掌握的信息与公告内容一 致，具体情况尚不清楚。若有最新进展，公司将通过公告及时披露。"该人士表示，"公司目前经营正 常，相关管理人员均正常履职。" 资金占用 今年4月29日，ST帕瓦公告称，因天健会计师事务所对公司2024年度财务报告内部控制出具了否定意见 的审计报告。根据相关规定，公司A股股票将被实施其他风险警示。 在董事会关于争取撤销风险警示的意见及主要措施中，ST帕瓦方面提到，经自查，公司经营管理层存 在经营管理不善问题，导致公司与供应商交易价格不公允的情形，累计向部分供应商多付工程及设备款 1.8亿元。张宝出具承诺，将对上述金额进行追讨，同时对上述1.8亿元损失承担连带赔偿责任。 业绩"变脸" ST帕瓦成立于2014年，专注于新能源电池材料的研发、生产与销售，核心产品为三元前驱体。 202 ...