登录新浪财经APP 搜索【信披】查看更多考评等级 ST长园（维权）（600525.SH）昨晚公告，公司最新一次董事会审议通过了聘任公司总裁的议案，但作 为第一大股东代表的两名董事投下了反对票。前后不到两个月时间的五次董事会会议中，这两名董事已 在三次会议投出反对票，系此前所罕见，且其反对意见皆指向董事、高管的人事变动。曾是李嘉诚家族 A股"旗舰"的ST长园，在经历长达十余年的无实控人状态后，其主要股东间的博弈强度又有上升之势。 回看李嘉诚退出后的这些年，ST长园曾历经多路资本竞逐、并购交易密集的"繁华"，可换来的却是股 价低迷不振。特别是自去年"924"以来，在大盘涨幅超40%的牛市背景板前，ST长园逆势下跌逾21%的K 线图，更显刺眼。这背后，有此前积弊的拖累、有内控问题的曝光、有经营上的举步维艰……情况纷 繁、疑云重重。而如今，通过数月前一场鲜为人知的董事会会议作为"观察窗"，投资者或可一窥ST长 园的现状以及未来。 相关人士向智通财经记者透露，在7月4日的董事会会议上，至少有两位非独立董事对该议案表示反对， 理由包括：出售长园共创股权存在核心优质资产流失风险，以及本次关联交易定价存在不公允的风险。 ST ...

Core Viewpoint - ST Longyuan is experiencing intensified internal conflicts among major shareholders, particularly regarding executive appointments and board decisions, which reflects the company's ongoing struggles since the exit of Li Ka-shing's family and has led to a significant decline in stock performance despite broader market gains [1][12]. Group 1: Board Meetings and Decisions - The recent board meetings have seen unusual opposition from two non-independent directors representing the largest shareholder, indicating a shift in governance dynamics [1][6]. - A controversial board meeting held on July 4 was not disclosed until July 21, raising questions about the transparency and governance practices of ST Longyuan [2][4]. - The board's decision-making process has been criticized for not adhering to regulatory guidelines, particularly regarding the handling of related party transactions and the need for independent director approval [5][6]. Group 2: Financial Performance and Risks - ST Longyuan's stock price has significantly underperformed, dropping over 21% since September 2024, contrasting sharply with a 40% rise in the broader market [1][12]. - The company reported a net loss of 343.9 million yuan in the first half of the year, exacerbated by a 282 million yuan investment loss from the sale of a subsidiary [13][14]. - Concerns about the potential sale of its subsidiary, Changyuan Gongchuang, which is a key profit-generating asset, have been raised due to fears of losing core quality assets [15][14]. Group 3: Shareholder Dynamics - The ownership structure shows that the largest shareholder, Gree Financial Investment, holds 14.38% of shares, while the second and third largest shareholders collectively hold 15.86%, indicating a competitive shareholder landscape [15][16]. - The recent changes in board composition, including the resignation of key figures, may influence future decisions regarding asset sales and governance [8][9]. - The shift in control from Gree Group to Zhuhai Technology Group could further complicate the shareholder dynamics and impact the company's strategic direction [16][17].