Core Viewpoint - ST Ovi (002231.SZ) has not repaid a significant amount of non-operating funds occupied by its shareholders and related parties, totaling 184 million yuan as of June 30, 2025 [1][4]. Group 1: Non-Operating Fund Occupation - As of the end of 2024, the balance of occupied funds was 208 million yuan, which was adjusted to 197 million yuan after accounting for repayments and other factors [3]. - In January 2025, Shanghai Donghexin and its related parties occupied an additional 43.75 million yuan through prepayment for raw material purchases [3]. - By June 30, 2025, only 60.045 million yuan had been repaid in cash, despite previous commitments to repay all occupied funds by the end of June 2025 [4]. Group 2: Legal Actions and Repayment Plans - ST Ovi has initiated civil lawsuits against related parties to recover 81.866 million yuan and is considering further legal actions, including criminal reports [4]. - The company has communicated with Shanghai Donghexin and its actual controllers to develop a feasible repayment plan [4]. Group 3: Financial Performance - ST Ovi has reported losses for three consecutive years, with net losses of 53.182 million yuan in 2022, 34.2048 million yuan in 2023, and 46.1147 million yuan in 2024 [5]. - Despite a 68.93% increase in revenue to 291 million yuan in 2024, the company experienced a 34.82% decline in net profit due to significant credit impairment losses and inventory write-downs [5]. - In the first quarter of 2025, ST Ovi's revenue dropped by 77.92% to 22.4977 million yuan, with a net loss of 6.3394 million yuan, a 57.48% decline year-on-year [6].

Core Viewpoint - The company is enhancing its competitive advantage in the liquid metal industry through capital increases and strategic restructuring of its subsidiaries [1][2][3] Group 1: Capital Increase and Investment - The company plans to increase its investment in its subsidiary, Dongguan Yihao Metal Materials Technology Co., Ltd., by RMB 120 million, with RMB 44.28 million entering registered capital and the remainder into capital reserves [1] - After the capital increase, the registered capital of Yihao Metal will rise from RMB 92.25 million to RMB 136.53 million, with the company holding 72.973% of the equity [1] - The subsidiary is also looking to attract additional investors to support new project development and market expansion after the company's capital increase [2] Group 2: Independent Operations and Strategic Development - The company intends to independently operate its mold design and manufacturing centers under its wholly-owned subsidiary, Dongguan Yian New Materials Research Institute Co., Ltd., to enhance competitiveness in the advanced manufacturing sector [2] - The mold centers will operate independently while prioritizing the company's business needs and also taking on external projects [2] Group 3: Shareholder Meeting - The company plans to hold its second extraordinary general meeting of 2025 on July 17, 2025, to discuss the aforementioned proposals [3]