Core Viewpoint - Jinke Co., Ltd. has completed its bankruptcy restructuring plan involving a debt scale of 147 billion yuan and over 8,400 creditors, marking a new phase for the company with a newly elected board of directors and management team [2][3] Management Changes - The new management team includes Guo Wei as Chairman, President, and Deputy Secretary of the Party Committee, Wang Xiaoqing as Vice Chairman, and Zhou Da as Co-President, indicating a diverse and professional background in real estate development, asset management, and equity investment [3][4] - The board of directors consists of both independent and non-independent members, with a focus on strategic resource reallocation through partnerships with various investment entities [3][5] Strategic Direction - Jinke has set up four major business segments post-restructuring: investment management, development services, operational management, and special assets, aiming to innovate and find new growth opportunities [7] - The restructuring is seen as a necessary step to unload historical burdens and align the new management's capabilities with the company's focus on special asset management [7] Key Appointments - Ma Weihua has been appointed as Party Secretary and Honorary Chairman, while Feng Lun will serve as the Chairman of the Expert Advisory Committee, both bringing significant industry experience to support the company's strategic management [6][7] - The involvement of these key figures is expected to enhance the company's ability to convert external capital and resources into actual performance [6] Market Context - Jinke is positioned to become the first publicly listed real estate company in China to resolve over 100 billion yuan in debt through judicial restructuring, highlighting its unique market position [3][5] - The new management faces challenges in revitalizing existing assets and balancing traditional development with emerging operational management amidst a still-adjusting real estate market [7]

Core Viewpoint - Kins Technology Co., Ltd. has officially completed its twelfth board of directors election on October 16, marking a new phase after its bankruptcy restructuring plan involving a debt scale of 147 billion yuan and over 8,400 creditors [1][2]. Group 1: Management Changes - The new management team includes Guo Wei as Chairman, President, and Deputy Secretary of the Party Committee, Wang Xiaoqing as Vice Chairman, and Zhou Da as Co-President [1][4]. - The board consists of experienced professionals from various fields such as real estate development, asset management, and equity investment, indicating a diversified and specialized structure [5][9]. - Guo Wei, the new leader, has extensive experience in complex asset disposal, which will support the company's business development [6][9]. Group 2: Strategic Restructuring - Kins Technology is the first publicly listed real estate company in China to resolve over 100 billion yuan in debt through judicial restructuring [3]. - The new board and management team aim to implement a strategic transformation, focusing on four major business segments: investment management, development services, operational management, and special assets [9]. - The restructuring process involves collaboration with strategic investors, including Shanghai Pinqi and China Great Wall Asset, to reallocate resources effectively [6][9]. Group 3: Key Appointments - Ma Weihua has been appointed as the Party Secretary and Honorary Chairman, while Feng Lun will serve as the Chairman of the Expert Advisory Committee [8]. - Both Ma Weihua and Feng Lun bring significant industry experience and management capabilities, which are expected to guide the company's strategic direction and operational performance [8][9]. Group 4: Market Challenges - The new management faces the challenge of revitalizing existing assets and balancing traditional development with emerging operational management amidst a still-adjusting real estate market [9].

Core Points - *ST Jinke announced the successful election of 9 board candidates during the third extraordinary shareholders' meeting for 2025, with Guo Wei appointed as chairman and president [2][3] - The new chairman Guo Wei has extensive experience in the real estate sector, having held various senior positions at Vanke Group and Xincheng Holdings [3] Group 1 - The board of directors was re-elected, with Guo Wei taking on the roles of chairman, president, and deputy secretary of the party committee [2] - Other key appointments include Wang Xiaoqing as vice chairman, Zhou Da as co-president, and Li Gen as executive vice president [2] - Ma Weihua was appointed as the party secretary and honorary chairman, while Feng Lun was named the chairman of the expert advisory committee [3] Group 2 - Guo Wei, born in 1976, has held significant roles in various real estate companies, including Vanke Group and Xincheng Holdings, showcasing a strong background in the industry [3] - Ma Weihua, the new honorary chairman, has previously served as the executive director and CEO of China Merchants Bank and holds multiple positions in various organizations [3]

Core Viewpoint - Jinke Co., Ltd. held its third extraordinary shareholders' meeting for 2025 on October 16, completing the election of the 12th Board of Directors [1] Group 1: Board Restructuring - Guo Wei was appointed as the Chairman, President, and Deputy Secretary of the Party Committee of Jinke Co., Ltd. [1] - Wang Xiaoqing was appointed as the Vice Chairman [1] - Zhou Da was appointed as Co-President [1] - Li Gen was appointed as the Executive Vice President [1] - Zhang Yong was appointed as the full-time Deputy Secretary of the Party Committee [1] - Yang Peng was appointed as the Secretary of the Board [1] - He Ge Ping was appointed as the Financial Responsible Person [1] Group 2: Honorary Positions - Ma Weihua was appointed as the Party Secretary and Honorary Chairman of Jinke Co., Ltd. [1] - Jinke Co., Ltd. appointed Feng Lun as the Chairman of the Expert Advisory Committee [1]

Core Viewpoint - *ST Jinke has successfully completed the election of its new board of directors and appointed new leadership, marking a significant step in its restructuring process after facing financial difficulties [1][3][6]. Group 1: Board Restructuring - On October 16, *ST Jinke held an extraordinary shareholders' meeting to modify several proposals, including the rules for board meetings, and successfully completed the board re-election [1]. - Guo Wei was elected as the new chairman and president, while Feng Lun was appointed as the chairman of the expert advisory committee, and Ma Weihua was named honorary chairman [1][3]. - The newly elected board includes candidates nominated by shareholders, with Guo Wei, Wang Xiaoqing, Li Gen, Li Liang, Shi Hao, and Zhang Yong as non-independent directors, and Feng Ping, Zhang Yi, and Sun Xia as independent directors [1]. Group 2: New Leadership Profiles - Guo Wei, born in October 1976, has held various senior positions in Vanke Group and Xincheng Holdings, showcasing extensive experience in the real estate sector [3]. - Zhang Yong, a long-time employee of *ST Jinke, has held multiple managerial roles within the company, contributing to its operations and governance [4]. Group 3: Financial Challenges and Restructuring - *ST Jinke was once the largest real estate company in Southwest China, achieving sales of approximately 184 billion yuan in 2021, but faced severe financial difficulties after a default on a $325 million bond in 2022 [6]. - The company reported cumulative losses exceeding 60 billion yuan from 2022 to 2024, leading to a restructuring process initiated in May 2023 [6][7]. - A total of 2.628 billion yuan was injected into the restructuring by various investors, with the restructuring plan approved by the Chongqing Intermediate People's Court in April 2024 [7][8]. Group 4: Share Capital Changes - Following the restructuring, *ST Jinke's total share capital increased from 5.34 billion shares to 10.634 billion shares after the completion of the share transfer process [8].

Core Insights - The largest judicial restructuring case in China's real estate industry has been completed, leading to a new board for Jinke Property Group Co., Ltd. (formerly known as "Jinke Shares") [1] - The restructuring process, which began in July 2023, involved over 8,400 creditors and a debt scale of 147 billion yuan [1] - Jinke has successfully unloaded over 100 billion yuan of debt and experienced a change in control, marking the end of the 27-year "Huang Hongyun era" [1] Company Leadership Changes - On October 16, Jinke announced the successful election of nine board candidates during its third extraordinary shareholders' meeting of 2025, with Guo Wei appointed as Chairman and President [1] - Wang Xiaoqing has been appointed as Vice Chairman, while former Chairman Zhou Da has been designated as Co-President [2] - Ma Weihua has taken on the role of Party Secretary and Honorary Chairman, while Feng Lun has been appointed as the Chairman of the Expert Advisory Committee [2] Key Personnel Backgrounds - Guo Wei, the new Chairman, has prior experience leading Xinda Real Estate and has been involved in multiple real estate relief projects [1][2] - Wang Xiaoqing previously served as Chairman of Hainan Yedao, and Li Gen, the new Executive Vice President, has held positions in various equity fund companies [2] - Ma Weihua, known for his role as the former President and CEO of China Merchants Bank, is also involved in several other companies and social organizations [2] Financial Support and Shareholder Structure - Jinke has secured over 3.3 billion yuan in funding support through a restructuring investment agreement with Shanghai Pinqi, a subsidiary of the restructuring investment party [2] - In September, 3 billion shares were transferred to designated accounts of the restructuring investors, representing 28.21% of the total share capital, with the new largest shareholder controlling 9.34% of the total shares [2]

Meeting Overview - The company held its third extraordinary general meeting of shareholders on October 16, 2025, with a combination of on-site and online voting [4] - A total of 1,023 shareholders and representatives attended, representing 3,533,138,340 shares, which is 33.2247% of the total shares [4] Resolutions Passed - The following resolutions were approved during the meeting: - **Cancellation of Repurchased Shares and Capital Change**: Approved by 99.3324% of voting rights [6] - **Cancellation of the Supervisory Board and Amendment of Articles of Association**: Approved by 99.2359% of voting rights [8] - **Adjustment of Director Allowances**: Approved by 99.2081% of voting rights [11] - **Amendment of Shareholders' Meeting Rules**: Approved by 99.2390% of voting rights [13] - **Amendment of Board Meeting Rules**: Approved by 99.2298% of voting rights [15] - **Amendment of Independent Director Work System**: Approved by 99.2077% of voting rights [17] - **Election of Non-Independent Directors**: All candidates were elected with significant support, including: - Guo Wei: 75.1726% [19] - Wang Xiaoqing: 74.8523% [21] - Li Gen: 75.0401% [23] - Li Liang: 84.0935% [25] - Shi Hao: 70.9589% [27] - Zhang Yong: 54.0288% [29] - **Election of Independent Directors**: All candidates were elected with significant support, including: - Feng Heping: 73.6132% [31] - Zhang Yi: 73.4294% [33] - Sun Xia: 73.6236% [35] Legal Opinion - The legal opinion provided by Beijing Zhonglun (Chongqing) Law Firm confirmed that the meeting was convened and conducted in accordance with relevant laws and regulations [37] Additional Announcements - The company announced the appointment of new leadership positions, including Guo Wei as the Chairman and CEO, and Wang Xiaoqing as the Vice Chairman [42][43]

Core Viewpoint - Jinke Co., Ltd. held its third extraordinary shareholders' meeting of 2025, completing the election of the 12th board of directors, with Guo Wei appointed as chairman, president, and deputy secretary of the party committee [1] Group 1: Leadership Changes - Guo Wei, born in 1976, has a background with Vanke Group, AVIC Vanke, and New Town Holdings, and previously served as deputy secretary, executive director, and general manager of Xinda Real Estate under China Xinda [1] - Wang Xiaoqing was elected as vice chairman of Jinke Co., Ltd., while Zhou Da was appointed as co-president [1] Group 2: Company Restructuring - Jinke Co., Ltd. has completed a restructuring process, becoming the largest real estate restructuring case in China [1] - As of September 30, Guo Wei and eight other candidates were elected to the new board of directors of Jinke [1]

Group 1 - *ST Jinke held its third temporary board meeting of the 12th session on October 16, 2025, to discuss the appointment of the board secretary and other documents [1] - For the first half of 2025, *ST Jinke's revenue composition was 92.95% from real estate sales and 7.05% from other sources [1] - As of the report date, *ST Jinke's market capitalization was 14.7 billion yuan [2]

金科股份 独立董事工作制度 金科地产集团股份有限公司 独立董事工作制度 （经 2013 年 9 月 26 日公司 2013 年第五次临时股东大会审议通过、2023 年 12 月 19 日公司 2023 年第八次临时股东大会修订、2025 年 10 月 16 日公司 2025 年第三次临时股东大会修订） 第一章 总 则 第一条 为了促进金科地产集团股份有限公司（以下简称"公司"）规范运 作，进一步完善公司治理结构，维护公司利益，保障全体股东特别是中小股东的 合法权益不受损害，根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公司独立董事 管理办法》（以下简称"《管理办法》"）、《深圳证券交易所股票上市规则》 （以下简称"《上市规则》"）、《深圳证券交易所上市公司自律监管指引第 1 号--主板上市公司规范运作》（以下简称"《规范运作指引》"）等有关法律、 法规、规范性文件及本公司章程的有关规定，制定本制度。 第二条 独立董事是指不在公司担任除董事外的其他职务，并与公司及主要 股东、实际控制人不存在直接或者间接利害关系，或者其他可能影响其进行独立 客 ...