Core Viewpoint - *ST Jintai (Jinlitai) is facing significant internal conflicts among shareholders, control disputes, and management instability, raising concerns among investors about its potential delisting [2][3][10]. Group 1: Shareholder Disputes - The first major shareholder, Hainan Dahe Enterprise Management Co., is pushing to remove two board members, while the company's founder and second major shareholder, Wu Guozheng, is seeking to remove Hainan Dahe's representative on the board [2][3]. - A critical shareholder meeting is scheduled for September 12, 2025, to vote on various proposals regarding board member elections, with Hainan Dahe proposing to remove three directors and add one [3]. - Wu Guozheng has expressed dissatisfaction with the current board members, citing issues of integrity and competence, and is advocating for stability in governance during the company's crisis [4][5]. Group 2: Management Changes - Frequent changes in management have been noted, with the resignation of the chairman and CEO, Hao Daqing, just 45 days after taking office, leading to the appointment of Wu Chunchao as the new CEO [7][8]. - The management turmoil reflects weaknesses in corporate governance and has raised concerns about the company's operational stability and strategic direction [6][10]. Group 3: Financial Performance - For the first half of 2025, *ST Jintai reported revenues of 367 million yuan, a year-on-year increase of 5.66%, but net profit fell by 32.98% to 8.71 million yuan [9]. - The company has faced regulatory scrutiny due to delayed financial reporting and received a "unable to express opinion" audit report, indicating serious governance issues [10]. Group 4: Industry Context - The internal conflicts and governance issues at *ST Jintai are indicative of broader challenges faced by ST companies in the A-share market, where control disputes and financial mismanagement are common [10].