JINZI HAM(SZ:002515) 投中网·2026-01-08 02:23Core Viewpoint - The recent leadership change at Jinziham (金字火腿) with the appointment of 90s-born Zheng Hu as president raises questions about the company's future direction and potential growth under new management [4][5]. Group 1: Leadership Transition - Zheng Hu, born in 1991, has taken over as president of Jinziham after a brief tenure of 5 months by the previous president, Guo Bo, who resigned for personal reasons [4][5]. - Zheng Hu's background includes significant experience in the luxury car sector, having worked with Aston Martin for 7 years, which may influence his strategic vision for Jinziham [5]. - The transition marks a generational shift in leadership, with Zheng Hu representing the second generation of the Zheng family in the company [6]. Group 2: Strategic Investments - Jinziham has diversified its investments, including a 300 million yuan stake in Zhongsheng Microelectronics, a company focused on optical communication chips [4][8]. - The company has established two wholly-owned semiconductor subsidiaries, indicating a strategic pivot towards high-tech industries [8]. - Zhongsheng Microelectronics has developed core chips for high-speed optical modules, which are crucial for the growing demand in AI and telecommunications [9]. Group 3: Market Trends - The optical communication industry is experiencing significant growth, with a projected compound annual growth rate of 17% from 2025 to 2030 [9]. - The domestic optical communication market is expected to reach approximately 147.3 billion yuan in 2024, with a compound annual growth rate of 5.67% from 2019 to 2024 [9]. - The shift towards domestic alternatives in high-end optical chips is accelerating, driven by policy support for self-sufficiency [9]. Group 4: Generational Shift in Business Leadership - The rise of "second-generation" entrepreneurs is notable, with many 90s and 00s born leaders stepping into significant roles, bringing fresh perspectives and strategies [13][14]. - These new leaders often have international educational backgrounds and diverse experiences, leading to a willingness to invest in high-growth sectors like AI, semiconductors, and biotechnology [14]. - The transition poses challenges, including the need to balance traditional business cash flow with long-term investments in technology [15].