Sou Hu Cai Jing·2026-03-05 06:37Core Viewpoint - The resignation of Chen Yunjiang as Chairman of Ninghu Expressway is a significant leadership change, with implications for the company's future direction and performance [3][4]. Group 1: Leadership Changes - Chen Yunjiang resigned from his positions as Chairman and Director of Ninghu Expressway, effective March 4, 2026, due to work adjustments, and will not hold any position in the company thereafter [3][4]. - Wang Feng, the current General Manager, also submitted his resignation on the same day but was elected as the new Chairman of the Board, maintaining continuity in leadership [6][10]. Group 2: Company Performance - Under Chen Yunjiang's leadership, Ninghu Expressway's revenue grew from 13.256 billion yuan in 2022 to 23.198 billion yuan in 2024, with net profit increasing from 3.724 billion yuan to 4.947 billion yuan during the same period [12]. - In the first three quarters of 2025, the company reported a revenue of 12.981 billion yuan, a decrease of 7.66% year-on-year, and a net profit of 3.837 billion yuan, down 6.86% compared to the previous year [12]. - Despite the decline in overall revenue, toll income remained a stronghold, contributing 7.2 billion yuan in the first three quarters of 2025, reflecting a year-on-year increase of 1.03% [12]. Group 3: Operational Metrics - The average daily traffic on the Hu-Ning Expressway reached 118,086 vehicles in the first three quarters of 2025, showing a 2.66% increase from the previous year [11]. - The company operates a total of 17 toll road projects, with over 910 kilometers of toll roads either owned or partially owned [14].