康恩贝再次换帅 管理层震荡调整

Core Viewpoint - The resignation of Jiang Yi, the chairman of Kang En Bei, has raised market concerns, marking a significant leadership change within the company, which has been undergoing continuous management adjustments since Zhejiang International Trade Group became the actual controller in 2020 [2][3]. Group 1: Leadership Changes - Jiang Yi's resignation comes after a brief tenure of approximately 1 year and 4 months, originally set to end in August 2027, and is officially attributed to "work adjustments" [3][4]. - Jiang Yi's departure coincides with reports of disciplinary reviews of other executives within Zhejiang International Trade Group, suggesting potential internal issues [3][4]. - The company is currently in the process of selecting a new chairman, with an emphasis on finding a successor with a strong medical background [2][10]. Group 2: Business Strategy and Performance - Jiang Yi's leadership was characterized by a strategic shift towards traditional Chinese medicine and digital transformation, aiming to counteract pressures from the generic drug market [7][9]. - Despite a focus on cost reduction, Kang En Bei's financial performance has shown a decline, with a 2.61% drop in revenue to 3.358 billion yuan and a 7.48% decrease in net profit to 353 million yuan in the first half of 2025 [8][9]. - The company's revenue for the third quarter of 2025 showed a slight increase of 1.27% to 4.976 billion yuan, with net profit rising by 12.65% to 584 million yuan, largely due to cost control measures [8][9]. Group 3: Future Outlook - The future direction of Kang En Bei remains uncertain following Jiang Yi's resignation, particularly regarding the continuation or adjustment of the current "Chinese medicine + digitalization" strategy [10][11]. - The new board candidates, Xu Jie and Jin Junli, are expected to bring relevant expertise and experience to the company, with a focus on enhancing decision-making quality and strategic execution [11]. - Investors are keenly observing how Kang En Bei will balance state regulation and market adaptability during this transitional phase, especially in revitalizing its high-margin product lines and realizing the benefits of digital transformation investments [11].