Yuancheng(SH:603388) Zheng Quan Shi Bao·2025-08-04 11:24Core Viewpoint - *ST Yuancheng (603388) is undergoing a significant leadership change due to the investigation of its independent director, Hong Luyuan, for serious legal violations, which is not related to the company's operations [1][3]. Group 1: Leadership Changes - Hong Luyuan has resigned from his positions as independent director, audit committee member, and remuneration and assessment committee member due to personal reasons, effective immediately upon delivery of the resignation to the board [3]. - The company confirms that Hong Luyuan was not involved in daily operations, and his resignation will not affect the company's production and operations [5]. - The board of directors remains compliant with legal requirements, as Hong Luyuan's departure does not reduce the number of board members below the statutory minimum [5]. Group 2: Background Information - Hong Luyuan was appointed as an independent director in May 2023, and he was part of the sixth board of directors, which consists of seven members, including four non-independent directors and three independent directors [6][7]. - Prior to his role at *ST Yuancheng, Hong Luyuan held various positions in several banks, including Agricultural Bank of China and Zhejiang Commercial Bank, accumulating extensive experience in the banking sector [7]. Group 3: Financial Performance - The company has been facing financial difficulties, with an expected net loss of between 930 million and 1.47 billion yuan for the first half of 2025, and a similar range for non-recurring net profit [8]. - *ST Yuancheng's stock has been subject to delisting risk warnings due to continuous losses over the past three years, and its ongoing operations are normal despite the investigation by the China Securities Regulatory Commission [8].