闫晓林任总经理，星湖科技求变

Core Viewpoint - The recent management change at Xinghuo Technology, with the resignation of General Manager Ying Jun and the appointment of Yan Xiaolin, signals a strategic shift towards deeper integration and operational focus on the core business of amino acids and fermentation products [1][3][4]. Management Changes - Ying Jun, who served as General Manager since August 2020, has resigned due to work adjustments, while Yan Xiaolin, previously from the subsidiary Yipin Biotechnology, has been appointed as the new General Manager [1][3]. - Yan Xiaolin has extensive experience in Yipin Biotechnology, having held various leadership roles since its inception, including Chairman and President [3]. Acquisition and Integration - The acquisition of Yipin Biotechnology, completed during Ying Jun's tenure, was a significant event, enhancing Xinghuo Technology's market position in the fermentation industry [3][4]. - Yipin Biotechnology, now a subsidiary, contributed significantly to Xinghuo Technology's revenue, with 2024 revenues of 160.01 billion yuan, accounting for 92.31% of the parent company's total revenue [4]. Financial Performance - Xinghuo Technology's revenue for 2024 was 173.34 billion yuan, with a net profit of 9.43 billion yuan, reflecting the strong performance of Yipin Biotechnology [4]. - In the first half of 2025, the company reported revenues of 81.6 billion yuan and a net profit of 8.36 billion yuan, with Yipin contributing over 90% of the revenue [4]. Strategic Outlook - The management change is seen as a completion of the "merger integration" phase, with Yan Xiaolin's leadership expected to enhance resource allocation and operational efficiency [4][5]. - Experts suggest that the company should focus on expanding into high-value downstream sectors, such as food additives and pharmaceuticals, to improve its growth sustainability and resilience against market fluctuations [5].