会畅通讯募资项目半年仅投6万无奈终止 归母净利降近56%“企二代”何飞接班

Core Points - He Qijin, the former chairman of Huichang Communications, has stepped down, passing the leadership to his son He Fei, who has been elected as the new chairman [1][2] - The company is currently facing a decline in performance, with a revenue of 339 million yuan in the first three quarters of 2025, a year-on-year decrease of 0.48%, and a net profit of 10.16 million yuan, down 55.84% [1][5] - The company has announced a delay in the "Super Vision Cloud Platform R&D and Industrialization Project" to December 31, 2025, with only 18.36% of the investment progress completed as of mid-2025 [1][7] Leadership Transition - He Fei, born in June 1988, has taken over as chairman, marking a generational shift in leadership [2][3] - He Fei does not directly hold shares in Huichang Communications but has indirect control through Jiangsu Xinlinfei Investment Co., holding 5.41 million shares [2][3] - He Qijin, the former chairman, has resigned due to personal reasons and will no longer hold any position in the company [3] Financial Performance - In 2023, Huichang Communications reported a revenue of 455 million yuan, a year-on-year decline of 32.11%, and a net loss of 501 million yuan [5] - The company managed to turn a profit in 2024, achieving a revenue of 453 million yuan, a slight decrease of 0.37%, and a net profit of 29.48 million yuan, a significant increase of 105.88% [5] - The decline in profitability in 2025 is attributed to a previous impairment of goodwill amounting to 396 million yuan related to the acquisition of Shenzhen Mingri [5][6] R&D and Project Updates - Research and development expenses for the first three quarters of 2025 reached 47.27 million yuan, a year-on-year increase of 14.47%, accounting for approximately 14% of revenue [7] - The company has decided to terminate the "Super Vision Cloud Platform R&D and Industrialization Project" due to slow progress and will redirect the remaining funds to support working capital needs [7] Market Performance - Since mid-July 2025, Huichang Communications' stock price has entered a downward trend, with a decline of over 20% [8]