Vanward(SZ:002543) Nan Fang Du Shi Bao·2025-11-11 11:04Core Points - The resignation of Lai Yuwen, the non-independent director and president of Wanhe Electric, has raised concerns as it occurred just over a month after he was elected with a high approval rate of 96.08% [1][8] - Lai's resignation is attributed to personal reasons, and he will no longer hold any positions within the company or its subsidiaries [2][5] - The company has stated that Lai's departure will not affect the normal operation of the board or the company [9] Company Overview - Lai Yuwen was the first professional manager to serve as president of Wanhe Electric, having joined the company in September 2022 and assumed the presidency in November of the same year [7] - During his tenure, he implemented significant reforms aimed at modernizing the company's governance structure, moving away from traditional family business practices [7] - Under Lai's leadership, Wanhe Electric achieved a revenue of 7.3 billion yuan in 2024, breaking free from a stagnation period around 6 billion yuan [7] Financial Performance - For the first three quarters of 2025, Wanhe Electric reported a total revenue of 5.524 billion yuan, representing a year-on-year increase of 5.54% [8] - The net profit attributable to shareholders was 479 million yuan, also up by 5.57% year-on-year, while the net profit excluding non-recurring items decreased by 6.58% [8] - The company's cash flow from operating activities saw a significant decline of 44.25%, amounting to 553 million yuan [8]