CHENGZHI(SZ:000990)2025-05-21 10:18Group 1: Company Performance and Market Concerns - The company has faced allegations of mismanagement leading to a loss of nearly 10 billion in state assets, resulting in a significant decline in stock price over the years [1] - The stock price has dropped from 34 to over 7 since 2017, with a current market value of 9 billion despite financing exceeding 16 billion [2] - The company is implementing a valuation enhancement plan to address long-term stock price issues and improve shareholder returns [4] Group 2: Research and Development Investments - The company invests several billion annually in R&D, focusing on core industries to ensure sustainable development [2] - As of the end of 2024, R&D personnel represent 9.13% of the workforce, with over 30% holding master's or doctoral degrees [2] - The company aims to extend its industrial chain into high-tech fields such as clean energy and advanced semiconductor materials [2] Group 3: Management and Compensation - The management's compensation has reportedly doubled since 2017, raising concerns about the distribution of total salary among executives [2] - The company emphasizes that executive pay is linked to overall business performance and adheres to regulatory guidelines [3] Group 4: Corporate Governance and Shareholder Engagement - The company is committed to enhancing governance and operational standards to improve market value and investor confidence [4] - It plans to strengthen its long-term incentive mechanisms and explore stock buybacks to align management interests with company growth [4][5]