GRKJ(SZ:300600) Xin Lang Zheng Quan·2025-09-15 13:21Core Viewpoint - The resignation of Yang Feng, the general manager of Guorui Technology, highlights the challenges faced by the company amid declining performance in its core business, particularly in the shipbuilding sector, while its stock price has seen significant gains, creating a disparity between market valuation and financial fundamentals [1][5][6]. Group 1: Management Changes - Yang Feng submitted his resignation due to work adjustments and will no longer hold any position within the company, despite being in the role for only 1 year and 11 months [1][2]. - Zhao Huizhang, the deputy general manager, has been authorized to act as the interim general manager until a new appointment is made [1][2]. Group 2: Financial Performance - Guorui Technology reported total operating revenue of 105 million yuan, a year-on-year decrease of 15.62%, and a net loss attributable to shareholders of 25 million yuan, a decline of 109.31% [4]. - The decline in performance is attributed to pressures in the shipbuilding business, with revenue from ship distribution systems down by 29.86% and from engine automation systems down by 47.93% [4]. Group 3: Market Reaction - Despite the poor financial performance, the company's stock price has increased by 113.80% year-to-date, reaching a closing price of 16.27 yuan per share on September 15, with a total market capitalization of 4.787 billion yuan [4][5]. - The contrasting trends of declining fundamentals and rising stock prices indicate a complex situation for the company, raising questions about how the new management will address these challenges [5][6].