Core Viewpoint - Shuguang Co., Ltd. has regained control and is experiencing operational recovery, marked by improved sales and a focus on hydrogen fuel cell buses [1][2]. Group 1: Company Overview - Shuguang Co., Ltd. specializes in complete vehicles, axles, and components, operating under the brands "Huang Hai" and "Shuguang Axle" [1]. - The company faced significant challenges, including a control dispute and continuous losses, leading to non-standard audit opinions and risk warnings on its stock [1]. Group 2: Recent Developments - In 2023, Shuguang Co., Ltd. regained control through a judicial auction, leading to a complete overhaul of its board and supervisory committee, which has improved governance and operational recovery [1]. - The company successfully removed risk warnings from its stock in April 2023, indicating a positive turnaround [1]. Group 3: Financial Performance - In 2024, Shuguang Co., Ltd. sold 2,907 vehicles, a year-on-year increase of 66.40%, and sold 916,400 axles, up 19.57% [2]. - The company achieved an annual revenue of 1.475 billion yuan, reflecting an 8.20% year-on-year growth, although it reported a net loss of 341 million yuan [2]. - In Q1 2025, revenue was 362 million yuan, a 1.49% increase, with a net loss of approximately 72.78 million yuan [2]. Group 4: Strategic Initiatives - The company is actively seeking external investment opportunities and has signed a project cooperation agreement with Geely and Dandong Guotou to promote new energy vehicles and build a hydrogen ecosystem [2]. - Shuguang Co., Ltd. is focused on expanding its order base, developing new products, and improving capacity utilization to enhance profitability [3][4]. Group 5: Financial Strategies - To address working capital pressures, Shuguang Co., Ltd. is implementing a financing plan involving a private placement to raise 339 million yuan, which will also strengthen the controlling shareholder's stake [5]. - The board has approved the issuance of A-shares to specific investors, pending regulatory approvals [5].