Core Viewpoint - The recent resignations of key executives at Changjiu Logistics have raised concerns about the company's governance stability and management efficiency, particularly in light of its declining profitability despite revenue growth [1][4][6]. Executive Departures - Vice President Lu Yuliang resigned on September 3, 2023, due to personal reasons, marking the third key executive departure this year [1][3]. - Lu Yuliang had been with the company since January 2023 and previously held senior positions in major corporations, indicating a significant loss of experienced leadership [2][3]. - Other recent departures include Secretary of the Board Yan Chao and Chief Financial Officer Jin Ting, both of whom also cited personal reasons for their resignations [3][4]. Financial Performance - For the first half of 2025, the company reported revenue of 2.33 billion yuan, a year-on-year increase of 27.54%, but faced a significant decline in profitability [4][5]. - The total profit for the same period was only 16 million yuan, down 75.53% year-on-year, while the net profit attributable to shareholders dropped by 80.66% to 10 million yuan [4][5]. - The disparity between revenue growth and profit decline highlights rising cost pressures and weakening profitability, posing greater operational challenges for the management team [4][6]. Market Position - As of September 3, 2023, the company's stock closed at 9.09 yuan per share, reflecting a year-to-date increase of 22.94%, with a total market capitalization of 5.49 billion yuan [5].