“家居零售教父”汪林朋坠楼身亡，湖北政商界今年已多人被查

Core Viewpoint - The unexpected death of Wang Linpeng, the actual controller, chairman, and CEO of Juran Smart Home, raises questions about the company's future amid financial pressures and operational challenges [1][9]. Company Background - Wang Linpeng was instrumental in transforming Juran Home into a national chain, achieving over 10 billion in annual revenue by 2015 and earning the title "father of home retail" [2]. - He led significant changes in the industry, including the introduction of a "first compensation" strategy and a shift from "subleasing" to "commercial operation" models, which redefined the industry value chain [2][3]. Financial Performance - After going public through a reverse merger, Juran Home's revenue and net profit initially increased, but from 2020 to 2023, net profit has consistently declined, with a 40.83% drop in 2024 [5][6]. - The company reported a revenue of 129.66 billion in 2024, down 4.04% year-on-year, and a net profit of 7.69 billion [5]. Shareholder Actions - Despite declining performance, Wang Linpeng initiated a share reduction plan and cashed out approximately 20.98 billion through introducing a new major shareholder [6][7]. - The company has distributed over 90% of its available profits as cash dividends from 2019 to 2023, raising concerns about financial sustainability [7]. Governance and Legal Issues - Wang Linpeng faced scrutiny and was placed under investigation, leading to the freezing of his shares, which has sparked speculation about potential asset misappropriation [7][8]. - The political landscape in Hubei has seen multiple officials investigated for corruption, indicating a broader issue within the region's governance [8]. Future Outlook - The company is under significant debt pressure, with a cash-to-debt ratio of 0.5, raising concerns about its ability to sustain operations [6]. - The circumstances surrounding Wang Linpeng's death and the company's financial state will be closely monitored by stakeholders [9].