CHINA LESSO(02128) 新京报·2025-05-30 13:56Core Viewpoint - The recent appointment of Huang Zhanxiong, son of the founders of China Liansu Group, as an executive director has drawn attention amid the company's declining profits from 2020 to 2024, raising questions about potential improvements in performance and the impact of his experience in the renewable energy storage sector [1][3][5] Group 1: Management Changes - On May 20, 2024, China Liansu announced the resignation of Lin Shaoquan as executive director and vice president to focus on sales development in North America [2] - Huang Zhanxiong, aged 35 and currently vice president, will take over as executive director for a three-year term starting May 20, 2025 [2] - Huang Zhanxiong has a background in finance and has been involved in logistics and overseas company management, as well as strategic planning for renewable energy storage [2][5] Group 2: Financial Performance - China Liansu's revenue for 2024 was 27.026 billion yuan, a decrease of 12.45% year-on-year, with a net profit of 1.684 billion yuan, down 28.89% [3][4] - The company's net profits from 2020 to 2024 showed a significant decline, from 3.751 billion yuan in 2020 to 1.684 billion yuan in 2024 [3] - In 2024, the gross profit was 7.293 billion yuan with a gross margin of 27.0%, compared to 8.121 billion yuan and 26.3% in 2023 [4] Group 3: Strategic Initiatives - China Liansu is actively seeking new growth avenues, including heavy investments in renewable energy and other sectors, although results from these initiatives have yet to materialize [4][5] - The company established Guangdong Liansu Banhai New Energy Technology Group Co., Ltd. in 2022 to enter the photovoltaic industry, but faced challenges such as overcapacity and supply-demand imbalance [5] - In 2024, revenue from the renewable energy sector was only 223 million yuan, accounting for 1.85% of total revenue, indicating limited impact from diversification efforts [4][5]