Jolywood(SZ:300393) Hua Xia Shi Bao·2025-09-06 04:35Core Viewpoint - The resignation of the chairman of Zhonglai Co., Ltd. is attributed to age, and the company asserts that this decision is unrelated to its financial performance, which has seen losses in 2024 and the first half of 2025 [2][6]. Company Overview - Zhonglai Co., Ltd. specializes in photovoltaic materials, high-efficiency batteries, and components, and was established in 2008, going public in 2014 [5]. - The company is currently facing financial difficulties, with losses of 8.56 billion in 2024 and a net loss of 1.69 billion in the first half of 2025, although this represents a 44.83% improvement year-on-year [6][7]. Leadership Changes - The former chairman, Cao Lu, who held the position for over two years, resigned due to age, and will not hold any position in the company post-resignation [2][3]. - The largest shareholder is Lin Jianwei, who holds 16.36% of the shares, while Zhejiang Zheneng Electric Power Co., Ltd. is the second-largest shareholder with 9.75% [3]. Financial Performance - The company reported a revenue of 33.04 billion in the first half of 2025, a year-on-year increase of 7.25%, but still recorded a net loss [6][7]. - The photovoltaic application system business generated the highest revenue of 18.29 billion, with a gross margin of 19.84% [7]. Debt and Financial Structure - Zhonglai Co., Ltd. has a high debt ratio of 75.9%, with total liabilities amounting to 124.25 billion [8][9]. - The company plans to improve its financial structure by enhancing profitability, optimizing financing, and managing funds more efficiently [9].