任职仅半年，雪峰科技董事长辞任

Corporate Governance Changes - The chairman of Xuefeng Technology, Zheng Bingxu, has applied for resignation due to work adjustments, effective from October 17, 2025, after serving only six months since his appointment on March 24, 2025 [1][2] - Tian Yong is elected as the new chairman during the board meeting on October 20, 2025 [1] - Tian Yong also applied for resignation from the position of general manager but will continue to serve as the party secretary and chairman [3] Financial Performance - For Q3 2025, the company reported a revenue of 1.5 billion yuan, a year-on-year decrease of 13.7%, and a net profit attributable to shareholders of 161 million yuan, down 23.3% [3][5] - The total revenue for the first three quarters of 2025 was 4.18 billion yuan, representing an 8.3% decline compared to the previous year, with a net profit of 394 million yuan, down 34.6% [3][5] - The operating cash flow for the period was 99 million yuan, a significant decrease of 81.7% year-on-year, attributed to reduced cash inflow from sales due to declining market prices [3][7] Asset and Equity Position - As of the end of Q3 2025, the company's total assets amounted to 8.356 billion yuan, reflecting a 5.9% increase from the end of the previous year, while the net assets attributable to shareholders were 5.085 billion yuan, up 3.6% [4]