千亿芯片巨头，“换帅”

Core Points - The company announced the appointment of Bai Peng as the new chairman of the board, effective from October 31, 2025, succeeding Tang Junjun, who resigned after only 10 months in the role [1] - Bai Peng has over 30 years of experience in the integrated circuit manufacturing field and previously held various senior positions at Intel, including Vice President [2] - The company plans to focus on expanding the capacity of its Ninth Factory, aiming for full readiness within 2 to 3 quarters, with significant capital expenditures expected by the end of the year [2][3] Company Leadership Changes - Bai Peng, aged 62, will also continue as the company's president and executive director [1] - Tang Junjun, aged 60, has been with the company for a long time and will no longer serve as executive director or chairman [1] Financial Performance - The company's stock price fell by 6.22% on October 31, closing at 125.05 yuan per share, with a market capitalization of 147.6 billion yuan [4][5] - The company anticipates continued revenue growth in the upcoming quarters, primarily driven by the ramp-up of production at the Ninth Factory [3]