金证股份创始元老徐岷波套现2200万离场，身后留下一地鸡毛的业绩

Core Viewpoint - The resignation of founder Xu Minbo and the completion of a share reduction plan have raised concerns about the future of Jinzheng Co., as the company faces significant financial challenges with a 49.08% year-on-year revenue decline and a net loss of 56.53 million yuan in the first three quarters of 2025 [1][3]. Group 1: Executive Changes - Xu Minbo, a founding member of Jinzheng Co., has resigned from all positions after reducing his shareholding by 1 million shares, which is 0.11% of the total shares [2]. - Xu's resignation is effective immediately, and he still holds 43.56 million shares, representing 4.63% of the company, making him the fourth-largest shareholder [2]. Group 2: Financial Performance - In the first three quarters of 2025, Jinzheng Co. reported total revenue of 1.771 billion yuan, a decrease of 1.707 billion yuan or 49.08% year-on-year [3]. - The net profit attributable to shareholders was a loss of 56.53 million yuan [3]. - In Q3 2025, the company recorded revenue of 563 million yuan, down 50.19% year-on-year, with a net loss of 17.69 million yuan [4]. Group 3: Strategic Adjustments - Jinzheng Co. is focusing on its core financial technology business while reducing the scale of its non-financial IT operations, which has led to a decrease in revenue but an improvement in profitability [5]. - The gross margin for the financial IT business in the first half of 2025 was 42.67%, an increase of 2.56 percentage points year-on-year, while the gross margin for non-financial IT business rose significantly by 17.33 percentage points to 23.35% [5]. - Overall gross margin reached 37.45%, up 17.79 percentage points year-on-year [5]. Group 4: Company Background - Jinzheng Co. was established in 1998 and focuses on providing comprehensive technology solutions for various sectors, including securities, funds, banks, futures, trusts, exchanges, and regulatory agencies [6].