Core Viewpoint - The article discusses the strategic exit of the He family from Shinke Co., highlighting a planned withdrawal from the company that resulted in significant financial gains for the family while leaving the company with minimal net assets. Group 1: Family's Financial Maneuvering - The He family withdrew a total of 1.6 billion from Shinke Co. over 18 years, starting with 59 million in 2007 and culminating in 680 million in 2025, leaving the company with only 400 million in net assets [1][16]. - Huang Xiangmei, the wife of He Quanbo, sold all her shares before the company went public, indicating a lack of confidence in the company's future despite its IPO preparations [3][4]. - The family's actions suggest a clear intention to monetize their investment rather than reinvest in the company, as evidenced by their choice of share transfer over capital increase [3]. Group 2: Stock Performance and Management Changes - From 2013 to 2016, Shinke Co. planned five restructuring efforts, none of which were completed, yet the stock price rose from over 10 to over 30 [6]. - In 2016, the He family sold 13.76% of their shares at a peak price of 36.33, totaling 750 million, which was the highest price in the company's history [7]. - Following the sale, He Quanbo and his son resigned from their executive positions to avoid restrictions on share sales, with the younger son taking over as a nominal figurehead [8]. Group 3: Long-term Financial Decline - Shinke Co. has been unprofitable since its IPO in 2011, accumulating losses of 140 million over 14 years, while annual revenues hovered around 200 million [14][15]. - The stark contrast between the family's total withdrawals of 1.6 billion and the company's remaining net assets of 400 million underscores the financial mismanagement and exploitation of shareholder value [16]. Group 4: Final Exit Strategy - In 2024, He Quanbo publicly sought a buyer for the remaining shares, leading to a successful sale to a state-owned enterprise in 2025 for 680 million [10][12]. - The family's long-term strategy and patience in executing their exit plan demonstrate a calculated approach to capitalizing on their investment, ultimately benefiting themselves at the expense of other investors [21].