深业集团换帅，政企跨界高管王昱文接棒，能否扭转业绩颓势？

Core Viewpoint - The leadership change at Shenye Group, with Wang Yuwen succeeding the long-serving chairman Lü Hua, signals a strategic shift as the company transitions from traditional real estate development to a more integrated urban operation model [2][7]. Group 1: Leadership Transition - Lü Hua, who has been chairman for 12 years, is retiring due to age, having played a crucial role in transforming Shenye Group from a traditional real estate company to an urban operation entity [2][4]. - Wang Yuwen, the new chairman, has a diverse background in foreign affairs, technology innovation, and capital management, which aligns with Shenye Group's current transformation needs [7]. Group 2: Financial Performance - Under Lü Hua's leadership, Shenye Group's revenue grew from under 10 billion in 2012 to 19 billion in 2023, marking a nearly threefold increase [4]. - In 2023, Shenye Group reported a revenue of 19.05 billion, a year-on-year decrease of 41.03%, and a net profit of 1.37 billion, down 58.2% from the previous year [4]. - For Q1 2024, the company achieved a revenue of 2.21 billion, a decline of 35.58%, and reported a net loss of 461 million, a significant increase in losses compared to the same period in 2023 [4][5]. Group 3: Business Model and Strategy - Shenye Group has adopted a "real estate development + industrial operation + capital operation" model, which has been pivotal in its growth [4]. - The appointment of Wang Yuwen is seen as a signal for deepening the company's transformation, moving from "land dividend" to "institutional innovation" and from a "space provider" to a "factor integrator" [7]. Group 4: Market Position and Challenges - Despite being a significant player in urban infrastructure and industrial park development in Shenzhen, Shenye Group has faced challenges due to the cyclical adjustments in the real estate industry, leading to concerns over traditional business growth [4][5]. - The company's gross margin has fluctuated, with figures of 43.26%, 42.24%, and 42.14% from 2021 to 2023, dropping to 30.39% in Q1 2024 [5].