According to reports from the Daily Economic News, on the evening of May 19, Paineng Technology, a company listed on the Science and Technology Innovation Board, issued a major announcement, stating that the company's chairman Wei Zaisheng was investigated and detained. Wei Zaisheng is also the chairman of ZTE New Communications Co., Ltd., the controlling shareholder of Paineng Technology, and is also the controlling shareholder of ZTE. According to public information, Wei Zaisheng served as executive vice president and director of ZTE. Paineng Technology stated that the company's control has not changed, its operations are normal, and it will not have a significant impact on production and operations.
Paineng Technology was established in 2009 and focuses on the research and development, production and sales of lithium iron phosphate cells, modules and energy storage battery systems. However, Paineng Technology's performance has declined in recent years, with revenue in 2023 decreasing by 45% year-on-yearbeatlebingo.13%, net profit decreased by 59% year-on-yearbeatlebingo.49%。Results in the first quarter of 2024 continued to decline, with operating income and net profit falling by 79.05% and 99.13% respectively year-on-year. Although Paineng Technology's share price once rose to 509.51 yuan/share, the current price is 75.36 yuan/share, with a total market value of 13.2 billion yuan. The market is optimistic about the development of energy storage, but Panneng Technology still needs to cope with the challenge of declining performance.
Stock name Paineng Technology sector name Science and Technology Innovation Board market-making stock keywords Chairman investigation, ZTE New Communications, Wei Zaisheng paid attention to 丨 Well-known A-share tycoon was investigated and detainedbeatlebingo! Hexun Self-selected Stock Writer Risk Warningbeatlebingo: The above content is only the author or guest's opinion and does not represent any position of Hexun, and does not constitute any investment advice related to Hexun. Before making any investment decision, investors should consider the risk factors related to investment products based on their own circumstances and consult professional investment advisers when necessary. Hexun strives but cannot confirm the authenticity, accuracy and originality of the above content, and Hexun makes no guarantee or commitment in this regard.