YIWU CCC(SH:600415) Mei Ri Jing Ji Xin Wen·2025-06-27 16:16Core Viewpoint - The resignation of Wang Dong as chairman of Xiaogoods City has led to a significant drop in the company's stock price, despite his previous contributions to the company's digital transformation and strategic development [1][2]. Group 1: Leadership Changes - Wang Dong resigned from his position as chairman, director, and head of the board's strategy and ESG committee due to organizational work arrangements, effective June 27 [1]. - Wang held 300,000 shares of Xiaogoods City at the time of his resignation [1]. - His tenure as chairman lasted less than a year, having been appointed on July 8 of the previous year [1][2]. Group 2: Stock Market Reaction - Following the announcement of Wang's resignation, Xiaogoods City's stock price fell by 9.89%, with trading volume nearing 5 billion yuan [1]. - The stock had previously reached a historical high just a day before the announcement, reflecting a 170.42% increase in price during Wang's tenure [1][2]. Group 3: Company Performance - Under Wang's leadership, Xiaogoods City achieved a revenue of 11.299 billion yuan in 2023, marking a 48.30% year-on-year increase, and a net profit of 2.676 billion yuan, up 142.25% [2]. - For 2024, the company projected a revenue of 15.737 billion yuan, a 39.27% increase, and a net profit of 3.074 billion yuan, a 14.85% increase [2]. - In the first quarter of 2025, the company reported a revenue of 3.161 billion yuan, a 17.93% increase, and a net profit of 803 million yuan, up 12.66% [2]. Group 4: Strategic Initiatives - Wang Dong focused on the construction of the Yiwu Global Digital Trade Center, aiming to foster new trade models and enhance the company's digital and international transformation [2][3]. - The Chinagoods platform, launched in October 2020, serves as a core pillar for Xiaogoods City's digital trade initiatives, providing over 200 applications to support small and medium enterprises in global trade [3][5].