Core Viewpoint - The article discusses the ongoing dispute between the current actual controller of Wanlin Logistics, Fan Jibo, and the former actual controller, Huang Baozhong, regarding undisclosed asset conditions during the transfer of control, which has led to significant financial and operational challenges for the company [3][4][11]. Summary by Sections Background of the Dispute - Fan Jibo publicly called out Huang Baozhong for not taking responsibility for the company's operational results and losses since the transfer of control [3]. - The dispute has negatively impacted Wanlin Logistics' bank credit, affecting its future development [4]. Acquisition of Yulin International - In June 2017, Wanlin Logistics acquired 55% of Yulin International for 293 million yuan, gaining control over forestry companies in Gabon [5]. - Yulin International performed well during the three-year performance commitment period but began to incur significant losses starting in 2020 [5]. Financial Struggles and Mismanagement - After taking control, Fan Jibo discovered severe liquidity issues, with 2.7 billion yuan in receivables and long collection cycles [5]. - Wanlin Logistics had been prepaying and advancing funds to Yulin International without receiving dividends, leading to further financial strain [6]. Legal and Operational Challenges - Huang Baozhong's actions, including freezing shares and reporting to regulators, have complicated the resolution of disputes and hindered the company's operations [11]. - The company has faced difficulties in restoring credit after being delisted, primarily due to ongoing disputes and unverified reports [11]. Current Status of Yulin International - Following the acquisition of Yulin International's shares by Gongqingcheng Bochun Investment Co., Ltd., issues regarding the operational control and asset management of the Gabon companies remain unresolved [10]. - Huang Baozhong's previous commitments to assist in resolving these issues have not been fulfilled, further complicating the situation for Wanlin Logistics [11].

在入主万林物流（603117）4年后，实际控制人樊继波突然在网上实名发帖，喊话前实际控制人黄保 忠："作为企业的历史掌舵人，黄保忠先生理应对当年的经营结果、由此产生的损失负责，对公司及广 大投资者负责，并履行过往承诺。" 为何要在网上"约战"？樊继波在接受证券时报记者采访时表示，自己在2021年成为实际控制人之后，发 现黄保忠在向其转让控股权时，隐瞒了关键资产的实际情况，导致股权交易价值与公司真实资产状况严 重不符。"黄保忠曾表示愿意承担相应责任并予以补偿，但后续并未采取实质性解决措施"。 与此同时，双方的纠纷导致万林物流的银行授信受到影响，对上市公司未来发展造成影响。樊继波直 言，如今他已经被黄保忠"拉黑"，无奈之下才决定在网上发帖。双方的核心纠纷，就包括万林物流在8 年前收购的非洲业务，证券时报记者也就此展开了深入调查。 收购"踩雷" 8年前，在黄保忠实际控制万林物流期间，公司完成了一项重磅收购。 2017年6月23日，万林物流与许杰、邹勤夫妇签订《股权转让协议》，以2.93亿元收购裕林国际木业有 限公司（以下简称"裕林国际"）55%股权，从而间接掌控位于非洲加蓬的四家林业公司（简称"加蓬公 司"），获得 ...