JINKE PROPERTY(SZ:000656) Zheng Quan Shi Bao Wang·2025-10-17 00:44Core Viewpoint - *ST Jinke has successfully completed the election of its new board of directors and appointed new leadership, marking a significant step in its restructuring process after facing financial difficulties [1][3][6]. Group 1: Board Restructuring - On October 16, *ST Jinke held an extraordinary shareholders' meeting to modify several proposals, including the rules for board meetings, and successfully completed the board re-election [1]. - Guo Wei was elected as the new chairman and president, while Feng Lun was appointed as the chairman of the expert advisory committee, and Ma Weihua was named honorary chairman [1][3]. - The newly elected board includes candidates nominated by shareholders, with Guo Wei, Wang Xiaoqing, Li Gen, Li Liang, Shi Hao, and Zhang Yong as non-independent directors, and Feng Ping, Zhang Yi, and Sun Xia as independent directors [1]. Group 2: New Leadership Profiles - Guo Wei, born in October 1976, has held various senior positions in Vanke Group and Xincheng Holdings, showcasing extensive experience in the real estate sector [3]. - Zhang Yong, a long-time employee of *ST Jinke, has held multiple managerial roles within the company, contributing to its operations and governance [4]. Group 3: Financial Challenges and Restructuring - *ST Jinke was once the largest real estate company in Southwest China, achieving sales of approximately 184 billion yuan in 2021, but faced severe financial difficulties after a default on a $325 million bond in 2022 [6]. - The company reported cumulative losses exceeding 60 billion yuan from 2022 to 2024, leading to a restructuring process initiated in May 2023 [6][7]. - A total of 2.628 billion yuan was injected into the restructuring by various investors, with the restructuring plan approved by the Chongqing Intermediate People's Court in April 2024 [7][8]. Group 4: Share Capital Changes - Following the restructuring, *ST Jinke's total share capital increased from 5.34 billion shares to 10.634 billion shares after the completion of the share transfer process [8].