Vanward(SZ:002543) Nan Fang Du Shi Bao·2025-11-12 22:03Core Viewpoint - The resignation of Lai Yuwen, the non-independent director and president of Wanhe Electric, raises concerns about the company's governance structure, especially following his recent election as a non-independent director with a high approval rate of 96.08% just over a month ago [1][8]. Group 1: Resignation Details - Lai Yuwen applied for resignation due to personal reasons, relinquishing all positions within the company and its subsidiaries, with his original term set to end on July 3, 2028 [1][4]. - Wanhe Electric has not disclosed further details regarding the resignation, emphasizing that it will not affect the minimum number of board members or daily operations [4][8]. Group 2: Background of Lai Yuwen - Lai Yuwen has nearly 20 years of management experience in the home appliance industry, having worked at Midea Group for almost a decade before joining Wanhe Electric [5][7]. - He was the first professional manager to serve as president of Wanhe Electric, marking a significant shift towards a non-family governance structure [7][8]. Group 3: Achievements During Tenure - During his tenure, Lai Yuwen implemented significant reforms, including establishing a performance and market-oriented management mechanism and optimizing the talent structure through stock incentives and salary increases [7]. - Under his leadership, Wanhe Electric's revenue is projected to exceed 7.3 billion yuan in 2024, breaking free from a stagnation period around 6 billion yuan [7]. Group 4: Financial Performance - For the first three quarters of 2023, Wanhe Electric reported total revenue of 5.524 billion yuan, a year-on-year increase of 5.54%, and a net profit attributable to shareholders of 479 million yuan, up 5.57% [7]. - The company's basic earnings per share stood at 0.64 yuan, with a weighted average return on equity of 9.98% [7].