北部湾财险新掌门人选落定，金融老将林峰跨界掌舵

Core Viewpoint - The appointment of Lin Feng as the new chairman of Beibu Gulf Property Insurance marks a significant leadership change after a nine-month vacancy following the resignation of former chairman Qin Min due to job relocation [1][2]. Company Overview - Beibu Gulf Property Insurance, established in January 2013 with a registered capital of 1.5 billion yuan, is the first national insurance institution headquartered in Guangxi, initiated by Guangxi Investment Group along with 13 other large enterprises [2]. - The company has shown fluctuating performance in insurance business revenue from 2020 to 2024, with figures of 3.608 billion yuan, 3.587 billion yuan, 3.599 billion yuan, 3.729 billion yuan, and 3.839 billion yuan respectively [2]. Financial Performance - Net profit trends indicate that Beibu Gulf Property Insurance has been profitable since 2016, peaking at 106 million yuan in 2020, but faced losses in 2021 and 2022, with figures of -159 million yuan and -99 million yuan respectively. The company returned to profitability in 2023 with a net profit of 45 million yuan, projected to increase to 61 million yuan in 2024 [2]. - In Q1 2024, the company reported insurance business revenue of 1.043 billion yuan and a net profit of 10 million yuan. As of the end of Q1, the core and comprehensive solvency adequacy ratios were 157.09% and 275.62%, respectively, both showing a decline from the previous quarter [2]. Shareholding and Governance - Significant shareholding issues include the pledge status of major shareholders, with Guangdong Hongfa Investment Group holding 20%, Guangxi Ping Aluminum Group holding 6%, and Guangxi Changjiang Tiancheng Investment Group holding 0.27% of shares under pledge [2][3]. - A recent judicial sale of 146 million shares (9.73% of total shares) held by Guangxi Changjiang Tiancheng Investment Group is pending due to the buyer's lack of shareholder qualification approval [3]. - The company has implemented measures to limit the voting rights of major shareholders whose pledged shares exceed 50% of their holdings, in compliance with regulatory requirements [3].