2025.08.06 *ST松发（603268）8月5日晚间披露，公司董事会拟提前进行换届选举。经股东提名，董事会提名与薪 酬考核委员会审查，提名陈建华、陈汉伦、王孝海、史玉高、张恩国、王月为公司董事会非独立董事候 选人。 值得一提的是，陈建华为该公司实际控制人，直接持有公司股份1.31亿股。其2001年1月至今任恒力集 团有限公司董事长、总裁。 据悉，陈汉伦出生于2001年，年仅24岁，是*ST松发实际控制人陈建华、范红卫夫妇之子。据证券时 报，这是陈汉伦首次在A股市场上露面。 简历显示，陈汉伦拥有研究生学历，系应用金融硕士。其曾任普华永道（新加坡）企业所得税税务咨询 顾问。2024年3月至今，陈汉伦担任恒力集团副总裁。 为陈汉伦 从公开资料来看，陈汉伦近两年已深度参与恒力集团的经营管理。 去年8月，恒力重工与瑞士MSC公司签署战略合作协议，双方将在新造船、配套发动机、船舶修理、改 装等业务领域开展全方位合作。陈建华、陈汉伦均出席了此次签约活动。 2024年12月4日，恒力·绿色船舶发展大会在大连举行，陈汉伦出席论坛并致辞。 今年2月，陈汉伦以恒力集团副总裁身份受邀出席吴江新春经济高质量发展动员暨作风建设大 ...

Core Viewpoint - *ST Songfa (603268) is undergoing a board restructuring with the nomination of new non-independent directors, including the actual controller Chen Jianhua and his son Chen Hanlun, indicating a potential shift in management strategy and future direction for the company [2][10]. Group 1: Board Restructuring - The board of *ST Songfa plans to hold an early election for board members, nominating Chen Jianhua, Chen Hanlun, Wang Xiaohai, Shi Yugao, Zhang Enguo, and Wang Yue as non-independent director candidates [2]. - Chen Jianhua, the actual controller, holds 131 million shares of the company and has been the chairman and president of Hengli Group since January 2001 [3]. Group 2: Chen Hanlun's Background - Chen Hanlun, born in 2001, is the son of Chen Jianhua and has a master's degree in applied finance. He previously worked as a tax consultant at PwC Singapore and has been involved in Hengli Group's management since 2022 [4][6]. - He has participated in significant events, such as the strategic cooperation agreement with MSC and the Hengli Green Ship Development Conference, showcasing his active role in the company's operations [7][8]. Group 3: Company Performance and Future Outlook - Hengli Group, under Chen Jianhua's leadership, achieved a total revenue of 871.5 billion CNY in 2024, indicating strong financial performance [6][15]. - *ST Songfa is expected to report a net profit of 580 million to 700 million CNY for the first half of 2025, marking a turnaround from previous losses [12]. - The company's stock price closed at 48.19 CNY per share on August 6, 2023, with a market capitalization of approximately 41.5 billion CNY [13][14].

Core Viewpoint - The company *ST Songfa is undergoing a board restructuring, with the nomination of new non-independent directors, including the 24-year-old Chen Hanlun, who is the son of the actual controller Chen Jianhua [1][3]. Group 1: Company Background - *ST Songfa is controlled by Chen Jianhua and Fan Hongwei, who are ranked as the richest in Jiangsu with a holding market value of 801.2 billion yuan, an increase of 119.9 billion yuan from the previous year [3]. - The company is part of Hengli Group, which has a total revenue of 871.5 billion yuan in 2024 and also includes Hengli Petrochemical, another A-share listed company [3]. Group 2: Leadership and Management - Chen Hanlun, who holds a master's degree in applied finance, has been actively involved in the management of Hengli Group and has served as the vice president since March 2024 [4]. - He has participated in significant strategic initiatives, including a partnership with Swiss MSC for shipbuilding and related services [5]. Group 3: Financial Performance - *ST Songfa has turned a profit in the first half of the year, projecting a net profit of 580 million to 700 million yuan for the first half of 2025, marking a turnaround from previous losses [14]. - The company's stock price closed at 48.19 yuan per share on August 6, 2023, reflecting a 3.59% increase and a total market capitalization of 41.525 billion yuan [15]. Group 4: Strategic Developments - The company is planning to acquire 100% of Hengli Heavy Industry, which specializes in shipbuilding and high-end equipment manufacturing, to accelerate its strategic transformation and seek new profit growth points [12]. - The restructuring was officially completed in May 2023, leading to management adjustments and a relocation of the company's office to Dalian [13].

Core Viewpoint - *ST Songfa (603268.SH) is undergoing a board restructuring with the nomination of new non-independent directors, including Chen Jianhua, who is one of the actual controllers of the company, and his son Chen Hanlun, who is 24 years old and has a background in finance [1][3]. Group 1: Company Leadership Changes - The board of *ST Songfa plans to hold an early election to nominate new non-independent directors, including Chen Jianhua, Chen Hanlun, Wang Xiaohai, Shi Yugao, Zhang Enguo, and Wang Yue [1]. - Chen Jianhua directly holds 131 million shares of *ST Songfa and has been the chairman and president of Hengli Group since January 2001 [1]. - Chen Hanlun, the son of Chen Jianhua, holds a master's degree in applied finance and has served as a tax consultant at PwC Singapore before becoming the vice president of Hengli Group in March 2024 [1][3]. Group 2: Hengli Group Overview - Hengli Group, controlled by Chen Jianhua and Fan Hongwei, is ranked among the Fortune Global 500 and the top 500 Chinese enterprises, with a total revenue of 871.5 billion yuan in 2024 [3]. - The couple ranked as the richest in Jiangsu with a holding market value of 80.12 billion yuan, an increase of 11.99 billion yuan from the previous year [3]. - In the 2024 Hurun Rich List, their wealth reached 125 billion yuan, placing them 20th [3]. Group 3: Recent Developments and Market Position - Hengli Group acquired *ST Songfa in October 2018 and announced a major asset restructuring plan in October last year to acquire 100% of Hengli Heavy Industry [3]. - Hengli Heavy Industry specializes in the research, production, and sales of ships and high-end equipment, establishing a manufacturing base in Dalian [3]. - The restructuring was completed in May this year, leading to management adjustments and a relocation of the company's office to Dalian [3]. - As of the latest report, *ST Songfa's stock price is 47.41 yuan per share, with a total market value of 40.853 billion yuan [3].

Core Viewpoint - The company is undergoing significant changes in its board composition and strategic direction, with a focus on restructuring and potential profitability improvements following a major asset acquisition [2][3]. Group 1: Board Composition and Management Changes - The board has nominated several candidates for non-independent director positions, including Chen Jianhua, who is one of the actual controllers of the company and holds 131 million shares [1][2]. - Chen Hanlun, the son of Chen Jianhua, has been actively involved in the management of Hengli Group and has recently been appointed as the vice president of Hengli Group [2][4]. Group 2: Strategic Restructuring and Financial Performance - The company plans to acquire 100% of Hengli Heavy Industry, which specializes in shipbuilding and high-end equipment manufacturing, as part of its strategic transformation to seek new profit growth points [2]. - The restructuring was completed in May this year, and the company has since relocated its office to Dalian [2]. - A performance forecast indicates that the company expects to achieve a net profit of between 580 million to 700 million yuan for the first half of 2025, marking a turnaround from previous losses [3]. Group 3: Market Position and Wealth of Key Individuals - As of August 6, the company's stock price closed at 48.19 yuan per share, with a total market capitalization of 41.525 billion yuan [4]. - Chen Jianhua and his wife ranked as the richest individuals in Jiangsu with a holding market value of 80.12 billion yuan, reflecting a year-on-year increase of 11.99 billion yuan [5]. - In the 2024 Hurun Rich List, their wealth was reported at 125 billion yuan, placing them at the 20th position [6].

Core Viewpoint - *ST Songfa has undergone significant changes in its main business, controlling shareholders, and equity structure due to major asset swaps and share issuance for asset purchases, prompting the board to propose an early re-election [2][3] Group 1: Company Changes - The board of *ST Songfa has nominated candidates for non-independent director positions, including Chen Jianhua, who is one of the actual controllers and holds 131 million shares [2] - Chen Hanlun, the son of Chen Jianhua, is 24 years old and has a master's degree in applied finance, currently serving as the vice president of Hengli Group [2][3] - Hengli Group, which took control of *ST Songfa in 2018, has not significantly improved the company's performance since the acquisition [2][3] Group 2: Strategic Moves - *ST Songfa plans to acquire 100% of Hengli Heavy Industry, which specializes in shipbuilding and high-end equipment manufacturing, to accelerate its strategic transformation and seek new profit growth points [3] - The restructuring was completed in May 2023, leading to management adjustments and a relocation of the company's office to Dalian [3] Group 3: Financial Performance - The company forecasts a net profit of 580 million to 700 million yuan for the first half of 2025, indicating a turnaround from previous losses [3] - As of August 6, 2023, *ST Songfa's stock price closed at 48.19 yuan per share, with a market capitalization of 41.525 billion yuan [3] Group 4: Industry Collaborations - Hengli Heavy Industry signed a strategic cooperation agreement with Swiss MSC for comprehensive collaboration in new shipbuilding, engine supply, and ship repair [4] - The first ultra-large oil tanker built by Hengli Heavy Industry was unveiled in June 2023, with Chen Hanlun participating in the naming ceremony [4] Group 5: Wealth and Rankings - In 2024, Hengli Group reported total revenue of 871.5 billion yuan, and the wealth of Chen Jianhua and his wife reached 125 billion yuan, ranking them 20th on the Hurun Rich List [4]

Core Insights - A total of 108 ST stocks have announced their performance forecasts for the first half of the year, with 11 companies expected to report profits, 60 companies expected to report losses, and 30 companies expected to reduce their losses [1][2]. Summary by Category Profit Forecasts - The company with the highest expected net profit is ST Huadong, with an upper limit of 3.00 billion yuan. Following this are *ST Songfa and *ST Rendong, with expected upper limits of 700 million yuan and 400 million yuan, respectively [1]. - Other notable profit forecasts include: - *ST Weier: 165 million yuan [1] - *ST Huami: 116 million yuan [1] - *ST Baoshi: 75 million yuan [1] - ST Bailing: 70 million yuan [1] Loss Forecasts - The company expected to incur the largest loss is ST Chenming, with a minimum loss forecast of 3.50 billion yuan. Other companies with significant expected losses include: - *ST Jinke: 3.00 billion yuan [1] - *ST Zhongdi: 1.19 billion yuan [1] - Additional companies with notable loss forecasts include: - *ST Wanfang: 450 million yuan [2] - *ST Hongda: 600 million yuan [2] - *ST Yatai: 2.01 billion yuan [3] Loss Reduction - Several companies are expected to reduce their losses, including: - *ST Xing: reduction from 350 million yuan to 240 million yuan [2] - *ST He: reduction from 480 million yuan to 280 million yuan [2] - *ST Yuyuan: reduction from 1.00 billion yuan to 750 million yuan [3] - Other companies with reduced loss forecasts include: - *ST Zhi: reduction from 1.00 billion yuan to 800 million yuan [3] - *ST Jian: reduction from 1.05 billion yuan to 800 million yuan [5]

Core Viewpoint - The emergence of a young second-generation entrepreneur, Chen Hanlun, in the A-share market is highlighted, as he is nominated for the board of *ST Songfa, with his family holding significant wealth and influence in the industry [1][2]. Company Overview - *ST Songfa's board is set to undergo an early election, with Chen Hanlun, born in 2001, nominated as a non-independent director candidate [1]. - Chen Hanlun is the son of Chen Jianhua, the actual controller of *ST Songfa, whose family has a wealth of 125 billion yuan, ranking 20th on the 2024 Hurun Rich List [1]. Management Experience - Chen Hanlun holds a master's degree in applied finance and has experience as a tax consultant at PwC Singapore [3]. - He has been serving as the Vice President of Hengli Group since March 2024, which is a major player in the industry with a total revenue of 871.5 billion yuan in 2024 [3]. Strategic Developments - Hengli Group, under the control of Chen Jianhua and Chen Hanlun, has been involved in significant strategic partnerships, including a collaboration with MSC for shipbuilding and repair [3]. - The company has also completed a major asset restructuring by acquiring 100% of Hengli Heavy Industry, aiming to enhance its strategic transformation and seek new profit growth points [7][8]. Industry Trends - The trend of young second-generation entrepreneurs taking prominent roles in companies is noted, with several examples from various industries, indicating a shift in leadership dynamics within the A-share market [10][11][12][13][14][15].

Core Viewpoint - Guangdong Songfa Ceramics Co., Ltd. is undergoing significant changes in its corporate structure and governance due to a strategic transformation from traditional ceramics manufacturing to research, production, and sales in the shipbuilding and high-end equipment sectors [1][2][3] Group 1: Corporate Governance Changes - The company plans to change its registered capital and address, cancel the supervisory board, and amend its articles of association to reflect the changes in its main business and corporate structure [1][2] - The supervisory board's functions will be transferred to the audit committee of the board of directors, and relevant supervisory board regulations will be abolished [2] - The proposal to cancel the supervisory board and amend the articles of association requires approval from the shareholders' meeting [2][3] Group 2: Board of Directors Restructuring - The company intends to hold an early election for the seventh board of directors, which will consist of 9 members, including 3 independent directors and 6 non-independent directors [3][4] - The board's term will be three years from the date of approval by the shareholders' meeting [3][4] - Candidates for the non-independent directors have been nominated and will be submitted for shareholder approval [3][4] Group 3: Compensation and Committee Adjustments - The proposed compensation for independent directors is set at 200,000 yuan per year (before tax), while non-independent directors will not receive director allowances [4][5] - Adjustments to the specialized committees of the board will be made, including the establishment of a nomination committee and changes to the strategic committee [5][6] Group 4: Upcoming Shareholder Meeting - The company plans to hold its third extraordinary general meeting of shareholders on August 21, 2025, to review the aforementioned proposals [7][8]

Group 1 - The company has decided to cancel its supervisory board in accordance with the new Company Law and relevant regulations, transferring the supervisory functions to the audit committee of the board of directors [1][2] - The company has undergone a significant strategic transformation from a traditional ceramic manufacturing enterprise to a research, production, and sales company in the shipbuilding and high-end equipment sectors [2] - The company will change its registered capital and address, and amend its articles of association to reflect these changes due to the substantial alterations in its main business, controlling shareholder, total share capital, and equity structure [2]