公告还称，截至目前，公司未收到有权机关对公司的任何调查或者配合调查文件，暂未知悉留置调查的进展及结论。 公告中明确，公司其他董事、监事和高级管理人员均正常履职，生产经营管理情况正常。 值得注意的是，此时离乔文健当选为董事长仅两个月。 今年9月12日，公司收到时任董事长吴启权提交的书面辞职报告，吴启权因个人原因申请辞去公司董事长、董事职务及董事会战略委员会委员职务。离任 后，吴启权不在公司及公司下属子公司担任任何职务。 9月27日，公司第九届董事会第十一次会议选举乔文健为公司董事长。表决结果显示：7票同意，2票反对，0票弃权。董事陈美川、邓湘湘投了反对票。 据ST长园2024年年报公布的简历，乔文健2007年至2021年任职于中国银行深圳分行，历任业务客户经理、公司金融团队副主管、金融团队主管兼任营业 部中小企业信贷中心主任、普惠金融团队主管，2021年6月入职公司。 两位董事认为，在公司已出现内控问题的情况下，章程修订应更为严格以展现整改决心；拟聘会计师事务所因近年被监管警示，不利于保障审计质量；董 事薪酬方案中，涉及资金占用的当事人仍获高薪，新任董事长薪酬大幅增长，与公司ST状态及业绩严重不符。此外，高管薪 ...

11月24日，ST长园（600525.SH，长园科技集团股份有限公司）披露关于公司董事长被实施留置的公 告。 公告称，公司于11月24日收到惠州市惠阳区监察委员会签发的关于公司董事长兼法定代表人乔文健的 《留置通知书》，乔文健因涉嫌职务违法被实施留置。 公司按照《公司法》、《上市公司治理准则》及《公司章程》等法律法规和相关制度规范运作，其他董 事、 监事和高级管理人员均正常履职，生产经营管理情况正常。上述事项不会对公司正常生产经营产 生重大不利影响。 资料显示，乔文健自2022年6月起任公司副总裁，并在今年4月和9月两次接棒原董事长吴启权，先后担 任总裁和董事长一职。 ST长园强调，截至本公告披露日，公司未收到有权机关对公司的任何调查或者配合调查文件，暂未知 悉留置调查的进展及结论。公司将持续关注后续进展，对相关工作进行妥善安排，并按照有关法律、法 规的规定和要求，及时履行信息披露义务。 此前的11月13日，ST长园公告称，公司收到广东省深圳市中级人民法院送达的诉讼材料，公司大股东 格力金投及其一致行动人金诺信以证券虚假陈述责任纠纷为由对公司提起民事诉讼，涉案金额合计约为 4.13亿元。 具体来看，ST长园在 ...

Core Viewpoint - ST Changyuan (600525) reported a decline in revenue and a significant increase in net loss for the first half of 2025, indicating financial distress and rising short-term debt pressure [1]. Financial Performance Summary - Total revenue for H1 2025 was 3.47 billion yuan, a decrease of 0.89% year-on-year [1]. - Net profit attributable to shareholders was -344 million yuan, a decline of 774.65% year-on-year [1]. - In Q2 2025, total revenue was 2.07 billion yuan, an increase of 11.95% year-on-year, while net profit was -252 million yuan, a decrease of 351.46% year-on-year [1]. - The gross margin was 32.94%, up 0.16% year-on-year, while the net margin was -10.64%, down 514.21% year-on-year [1]. - Total expenses (selling, administrative, and financial) amounted to 817 million yuan, accounting for 23.54% of revenue, a slight decrease of 0.38% year-on-year [1]. Key Financial Metrics - Earnings per share (EPS) was -0.26 yuan, a decrease of 772.24% year-on-year [1]. - Net asset value per share was 2.83 yuan, down 26.78% year-on-year [1]. - Operating cash flow per share was -0.17 yuan, an increase of 4.4% year-on-year [1]. Significant Changes in Financial Items - Cash and cash equivalents increased by 23.63% to 4.31 billion yuan, primarily due to increased bank acceptance bills and loan guarantees [1]. - Long-term equity investments decreased by 50.03% due to the transfer of 25% equity in Changyuan Electronics, resulting in a reduction of 622 million yuan [1]. - Construction in progress increased by 36.38% due to investments in new material parks and upgrades [1]. - Accounts payable increased by 79.51% due to increased bill issuance [1]. - The current ratio was 0.97, indicating rising short-term debt pressure [1]. Business Evaluation - The company's historical return on invested capital (ROIC) has been weak, with a median of 2.91% over the past decade and a low of -10.83% in 2021 [4]. - The business model relies heavily on research and marketing, necessitating careful examination of the underlying drivers [4]. - Recommendations include monitoring cash flow status and debt levels, as the liquidity ratio is only 44.45% and the current ratio is 0.97 [4].

Core Viewpoint - Company expects a significant decline in net profit for the first half of 2025, projecting a loss between 1.05 billion to 0.70 billion yuan, indicating a challenging financial outlook [1][2] Group 1: Performance Forecast - The company forecasts a total profit loss between 3.6 billion to 3.1 billion yuan for the first half of 2025, a decrease of 271 million to 321 million yuan compared to the same period last year [1] - The projected net profit attributable to shareholders, excluding non-recurring gains and losses, is expected to be between -1.05 billion to -0.70 billion yuan, a decline of 43.87 million to 8.87 million yuan year-on-year [1] Group 2: Previous Year Performance - In the same period last year, the total profit was -30.75 million yuan, with a net profit attributable to shareholders of -39.32 million yuan, and a net profit excluding non-recurring gains and losses of -61.13 million yuan [1] - The earnings per share for the previous year was -0.0299 yuan [1] Group 3: Reasons for Performance Decline - The main business operations showed stable growth in internet technology service revenue, but revenue from consumer electronics and other smart device sectors declined by approximately 1 billion yuan compared to the previous year [1] - The competitive landscape in the domestic new energy vehicle sector has intensified, leading to stricter cost controls by automotive companies, which negatively impacted the company's revenue and profit from new energy vehicle equipment [1][2] Group 4: Non-Operating Losses - Investment income decreased by approximately 2.6 billion yuan compared to the previous year, primarily due to a loss of about 2.64 billion yuan from the sale of a 25% stake in Changyuan Electronics (Group) Co., Ltd. for 3.4 billion yuan, with no such losses reported in the previous year [2]

Core Viewpoint - The company, Changyuan Technology Group Co., Ltd., is under scrutiny from the Shanghai Stock Exchange regarding its 2024 annual report due to issues related to non-operating fund occupation by related parties, leading to significant internal control deficiencies and accounting errors [1][2][3]. Group 1: Related Party Fund Occupation - The company’s chairman, Wu Qiquan, is linked to Zhuhai Yuntaili Holdings Co., Ltd., which has been identified as occupying company funds through third parties [1][2]. - The annual audit revealed that the auditors could not obtain sufficient evidence to identify all related parties, resulting in a qualified opinion on the financial statements [1][3]. - The company has acknowledged the need to correct accounting errors related to non-operating fund occupation in its financial reports for 2023 and 2024 [1][3]. Group 2: Supplier Information and Financial Data - The company identified seven suppliers involved in fund occupation, detailing their establishment dates, major financial data, and actual controllers [2][3][4]. - For example, Zhuhai Chengbangda has total assets of 261.73 million yuan and a net profit of 5.5 million yuan as of December 31, 2024 [3][4]. - The company has initiated self-inspections and requested confirmations from these suppliers regarding their actual controllers and any potential fund occupation [4][5]. Group 3: Internal Control Deficiencies - The company has recognized significant internal control deficiencies in its fund payment approval and related party transaction processes [1][2][3]. - Contracts and payments related to the identified suppliers were executed without proper authorization, leading to difficulties in detecting fund occupation [1][2][3]. - The company plans to implement corrective measures and hold responsible personnel accountable for these deficiencies [2][3][5]. Group 4: Financial Adjustments and Reporting - The company has made retrospective adjustments to its financial statements for the years 2023 and 2024 to reflect the impact of the identified accounting errors [1][2][3]. - The adjustments include changes to monetary funds, other receivables, and credit impairment losses [1][2][3]. - The company has committed to adhering to accounting standards and ensuring timely disclosures of any further adjustments needed [1][2][3].