康恩贝频繁换帅，却难解业绩困境

Group 1 - The core point of the article discusses the frequent changes in top management at companies like Kang En Bei, questioning the effectiveness of such changes in boosting performance during challenging times [1][6] - Kang En Bei has recently experienced a wave of executive turnover, with the resignation of Chairman Jiang Yi and board member Jiang Qian, both of whom were expected to serve until August 2027 [2][3] - The company has a history of management changes, with significant shifts occurring since the entry of Zhejiang Guomao Group in 2020, leading to concerns about the stability of its strategic direction [8][9] Group 2 - Kang En Bei's financial performance has stagnated, with revenue figures from 2020 to 2024 showing minimal growth, and the latest quarterly report indicating a slight year-on-year revenue increase of 1.27% [10][11] - The company's revenue breakdown for the first three quarters of 2025 shows that the traditional Chinese medicine segment remains the largest contributor, but sales of key products have not recovered, and the health consumer goods segment is still underperforming [10] - The stock price of Kang En Bei has been in decline, with a reported market value of 11.69 billion yuan, down approximately 80% from its peak [11]