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after being detained in august, there has been new progress in the suspected criminal case of jin xinhai, director of xinshida (002527).

on the evening of september 13, xinshida issued an announcement that the company received a notice from the public security authorities on september 12 that the director and former deputy general manager jin xinhai had been approved for arrest by the people's procuratorate of jiading district, shanghai on suspicion of embezzlement.

xinshida stated that the company has a sound governance structure and business processes, and its daily operations are limitedly affected by a single individual. the aforementioned matters will not affect normal production and operations, nor will they affect the policy implementation and effectiveness of the board of directors' resolutions.

in terms of personnel arrangements, xinshida has held a board meeting on august 27 to review the proposal to remove jin xinhai from his position as director and deputy general manager, and has nominated new directors. currently, jin xinhai is no longer the deputy general manager, and the proposal to remove the director still needs to be reviewed by the shareholders' meeting before it can take effect.

after reviewing the previous situation, jin xinhai's arrest was related to damaging the interests of the company. on august 9, xinshida announced that in the process of strengthening internal and external control, it found that there were cases where former employees damaged the interests of the listed company, and reported the case after collecting and mastering relevant evidence. after investigation, the public security organs found that the case involved jin xinhai and detained him on august 7.

according to his public resume, jin xinhai was born in 1974, holds a doctorate from harbin institute of technology, and is a senior engineer. as early as april 2002, jin xinhai joined xinshida, 22 years ago. from his work experience, it can be seen that jin xinhai came from r&d and has gradually moved to management positions in recent years. he has served as r&d engineer, r&d manager, deputy director of r&d, director of drive r&d, dean of the central research institute, general manager of the inverter business unit, and has served as a director of the company since august 2021. from july 2017 to august 2022, jin xinhai served as deputy general manager of the listed company, and was promoted to general manager in august 2022, but resigned just one year later (september 2023) and resumed his position as deputy general manager.

securities times e-company noted that as an old employee of xinshida, jin xinhai held 97,400 shares before the company went public. as of the end of august, jin xinhai held 265,000 shares of xinshida, accounting for about 0.04% of the total share capital. from 2021 to 2023, jin xinhai's pre-tax salary from the listed company was 1.405 million yuan, 1.181 million yuan, and 920,800 yuan, respectively, showing a downward trend year by year.

it is worth mentioning that in the past year, many directors and senior executives of xinshida have resigned. on september 13, 2023, the company announced that li guofan resigned from the company's financial director and deputy general manager for personal reasons; in the same month, the company's non-independent director and deputy general manager cai liang also resigned for personal reasons; at the end of july this year, zhou guangxing applied to resign from the company's non-independent director position. after the resignation, the aforementioned personnel will no longer hold any position in the company and its subsidiaries.

according to public information, step was founded in 1995 and entered the capital market in december 2010. its main business currently covers three major sectors, namely elevator control products and systems business, robot products and systems business, and control and drive products and systems business. it has 7 production bases at home and abroad, serving more than 110 countries and regions around the world. according to data from industry consulting agency mir, step's industrial robot product sales will rank fourth in china and twelfth in the world in 2023, and its wholly-owned subsidiary zhongweixing's scara robot shipments will rank second in china and fourth in the world.

in terms of business volume, control and drive products and systems contributed half of the revenue, with revenue of 805 million yuan in the first half of the year, accounting for 53.1%; the revenue of elevator control products and systems, and robot products and systems were 310 million yuan and 304 million yuan respectively, accounting for 20.46% and 20.07% of the revenue respectively.

in terms of performance, affected by factors such as the decline in completed construction area in the real estate industry and fierce competition in the industrial robot system industry, xinshida's revenue and net profit both declined in the first half of the year. revenue was 1.516 billion yuan, a year-on-year decrease of 12.98%; net profit was a loss of 18.7505 million yuan, turning from profit to loss year-on-year.