Of Zhongzhi listed companies have entered a period of frequent changes. Starting from the first quarter of this year, including Kangsheng shares ( 3.10 -2.82%, clinic ), ST Tianshan ( 7.73 +2.93%, clinic ), Meijim ( 3.82 +1.60%, clinic ), Yushun Electronics ( 5.89 +0.17%, clinic ) and other companies, important management personnel changes have occurred one after another.
Change frequently
In early June, Yushun Electronics announced that the board of directors received the resignation report of general manager Zhou Lu at the beginning of the month.
Although it was not stated in the announcement, from the previous company announcements and public information reasoning, Zhou Lu's resignation was pointed by the market to the adjustment of members of the Zhongzhi family in the management camp of Yushun Electronics.
Zhou Lu was born in 1989 and served as the investment manager of the investment department of Zhongzhi Capital Management Co., Ltd. and the chairman of Kunsheng Enterprise Management Co., Ltd. Since 2019, Zhou Lu has served as the general manager, chairman, director and chairman of the strategy committee of the board of directors of Yushun Electronics.
This is not the first major personnel change of a listed company in the Zhongzhi Department. In March this year, Wang Yungui submitted a resignation report to Kangsheng Co., Ltd., and applied to resign from the company's chairman and other positions due to personal reasons. After resigning, Wang Yungui will no longer hold any positions in the company. Judging from his resume, Wang Yungui was the executive vice president of Zhongzhi Enterprise Group.
In addition, in April this year, Ma Changshui, who was originally scheduled to serve until the fifth session of the board of directors expired in 2025, resigned as chairman of ST Tianshan. According to the data, Ma Changshui is currently the chief risk control officer of Zhongzhi Enterprise Group. In late May, ST Tianshan held the second extraordinary meeting of the fifth board of directors in 2022 and agreed to elect Sang Jie as the chairman of the fifth board of directors.
It is worth noting that in May of this year, Zhang Shulin, the chairman of Meijim, resigned from the chairman and other positions due to personal reasons. Since then, the company has successively issued announcements on the resignation of the chief financial officer and employee representative supervisors. In comparison, Zhou Lu served as the general manager of Yushun Electronics for about three years, while Zhang Shulin took office as chairman of Meijim from December 13, 2021, and it took only about half a year to resign.
Behind the frequent changes in the management of listed companies in Zhongzhi, there are three points worth Paying attention to.
First, from the perspective of resigned executives, there are differences in whether they hold shares in related companies. Among them, Zhang Shulin did not hold any shares of Meijim, while Zhou Lu held 400,000 shares of Yushun Electronics, accounting for 0.1427% of the company's total share capital.
Second, some senior executives quickly achieved "filling in the vacancies", and new executives began to have a more diverse working background. Taking Sang Jie as an example, he once served as Deutsche Bank director of the investment banking department
In addition, some personnel changes are controversial. Taking Yushun Electronics as an example, the company recently reviewed and approved the "Proposal on the Appointment of General Managers", but there was one vote against it. Director Lin Meng believes that the newly hired general manager is somewhat lacking; from the perspective of cost control, it is recommended that the chairman and general manager should be served by one person.
Why change?
Why did the executives of listed companies in the Zhongzhi Department start a frequent change mode?
In some cases, the reason is that there is a certain misalignment between personal energy and management requirements. Take Ma Changshui's resignation as the chairman of ST Tianshan as an example, because Ma has been engaged in risk management work in financial institutions for a long time, and Zhongzhi Group attaches great importance to the role of risk management and control in the investment + industrial development strategy, so Ma is arranged to assist the main leaders of the group. In charge of the risk control center.
However, considering the high requirements of risk management and control work and the need to invest a lot of energy, continuing to serve as the company's chairman may be at the expense of others. Therefore, in the end, Ma Changshui decided to resign from the positions of chairman and director of ST Tianshan, and at the same time, he resigned as chairman of the strategy committee of the board of directors. position, and no longer hold any position in the company after resignation.
In addition to the clear statement in the announcement, the most attention by the market is the time window when the personnel of listed companies in the Zhongzhi Department are frequently changed. The personnel changes in these companies occurred after the sudden death of the former head Xie Zhikun at the end of last year. Xie Zhikun founded Zhongzhi Group in 1995. Since then, capital market he has successively built the territory of Zhongzhi Department
From the fundamental background, most of the Zhongzhi A-share companies that have experienced personnel changes have developed unspeakably smooth in recent years. This is mainly manifested in two aspects.
On the one hand, the staged pressure on performance. Including ST Tianshan, Kangsheng, Meijim, Yushun Electronics and other companies, most companies recorded a net loss in the first quarter of this year.
The most typical is Baode shares. As one of the first Growth Enterprise Market , the company officially confirmed last year that the controlling shareholder will be changed to Shoutuo Ronghui. However, due to the deduction of non-net profit losses in 2021 and the revenue after deduction of less than 100 million yuan, the company will be delisted due to the termination of listing in the financial category. The company has recently entered the delisting period.
A considerable proportion of companies explained the pressure on performance as the impact of the epidemic. However, some directors have different opinions. In a quarterly report, Lin Meng, director of Yushun Electronics, abstained from voting. He believed that, "In the industry where Yushun Electronics is in, it has been a rare boom year for many years, and its peers have also made abundant profits. Huge losses, we should seriously review the reasons for the operation itself, and stop blaming the epidemic."
Another aspect is the frequent failure of capital operation. Taking Yushun Electronics as an example, the company planned to purchase 100% equity of Qianhai Shouke last year. This transaction, which originally hoped to bring new profit growth points to Yushun Electronics, failed in the end because of the plan. In addition, the marriage between Baode Co., Ltd. and the famous family was also terminated last year.
