Core Viewpoint - The general manager and board member of Dameng Data, Pi Yu, has been placed under investigation and detention, raising concerns about the company's governance and potential impacts on its operations [1][2]. Company Overview - Dameng Data was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on June 12, 2024, and has faced significant issues just over a year after its IPO [1]. - The company specializes in database product development and services, targeting large and medium-sized enterprises, government agencies, and institutions with various database software and related technology services [10]. Management Changes - Due to Pi Yu's detention, he has not attended recent board meetings, with Chairman Feng Yucai voting on his behalf [5]. - Feng Yucai, the founder and controlling shareholder of Dameng Data, has held various leadership roles since the company's inception in November 2000 [6][7]. Financial Performance - In the first quarter of 2025, Dameng Data reported a net profit attributable to shareholders of 98.16 million yuan, a year-on-year increase of 76.39% [10][11]. - The company's operating cash flow was negative at -102 million yuan, compared to -54.81 million yuan in the same period the previous year [10][11]. - Revenue for the first quarter of 2025 reached approximately 258.13 million yuan, reflecting a 55.61% increase from the previous year [11]. Market Impact - As of August 19, 2023, Dameng Data's stock price was 248.80 yuan per share, with a decline of 0.68% and a total market capitalization of 28.17 billion yuan [1]. - The company anticipates that the investigation will not have a significant impact on its production and operations [10]. Growth Drivers - The growth in the first quarter of 2025 is attributed to accelerated information technology construction in sectors such as government, energy, and transportation, along with increased software product licensing revenue [13].