Core Viewpoint - The announcement of the retirement of CEO Chen Yingrang and the appointment of Wei Hongcheng as the new CEO signifies a deeper involvement of the second generation of the Wei family in the management of Master Kong, marking a shift from professional managers to family leadership [1][2] Group 1: Leadership Transition - Chen Yingrang will retire on December 31, with his service contract not being renewed [1] - Wei Hongcheng, aged 43, will take over as CEO while continuing as an executive director [1] - Wei Hongcheng is the son of founder Wei Yingzhou and has been an executive director since January 1, 2019 [1] Group 2: Background of Wei Hongcheng - Wei Hongcheng holds a bachelor's degree from Imperial College London and an MBA from Harvard Business School [1] - He has been a member of the Harvard Business School Dean's Advisory Board and has insights into industry trends and organizational leadership [1] - He has served as a director of Master Kong Beverage Holdings since February 2015 and has been the chairman since 2019 [1] Group 3: Company Performance - In the first half of the year, Master Kong reported revenue of 40.092 billion yuan, a year-on-year decrease of 2.7% [2] - Net profit for the same period was 2.271 billion yuan, showing a year-on-year increase of 20.5% [2] - Revenue from instant noodles and beverage segments declined by 349 million yuan and 706 million yuan, with respective decreases of 2.5% and 2.6% [2] - The increase in net profit was attributed to a 1.9 percentage point rise in gross margin to 34.5%, driven by cost structure optimization and improved operational efficiency [2]