ZJHM(SH:600987) Sou Hu Cai Jing·2025-08-04 07:16Core Viewpoint - The resignation of Shen Songren from Hangmin Co., Ltd. is attributed to the optimization of the company's governance structure, with his departure occurring two years earlier than expected [1][3]. Group 1: Company Governance Changes - Shen Songren's resignation will not reduce the board members below the legal requirement, and he did not hold any company shares, ensuring normal board operations [3]. - The company recently completed a board restructuring in March 2023, with a term until April 2028, consisting of 9 directors, including 6 non-independent and 3 independent directors [3]. - The resignation may indicate adjustments in governance mechanisms, organizational structure, or strategic alignment, often seen during business transformations or market repositioning [3]. Group 2: Financial Performance - In 2024, Hangmin Co., Ltd. recorded a revenue of 11.468 billion yuan, achieving a year-on-year growth rate of 18.65%, while the net profit attributable to shareholders increased by 5.04% to 719.7 million yuan [4]. - As of the end of the reporting period, total assets amounted to 10.303 billion yuan, with a debt ratio of 31.22%. In Q1 2025, the asset-liability ratio rose to 34.22%, still considered low within the industry [4]. - In Q1 2025, the company's revenue decreased by 5.69% year-on-year to 2.949 billion yuan, while net profit increased by 6.19% to 136 million yuan [4].