Core Viewpoint - The Zhuhai Zhengfang Group's former leadership, including Chairman Tang Liang and Vice Chairman Guo Wei, is under investigation for serious violations of discipline and law, marking a significant personnel upheaval within the company [1][3][4]. Group 1: Company Background - Zhuhai Zhengfang Group is a well-known state-owned enterprise in Zhuhai, serving as a leading company in the Xiangzhou District [3][7]. - The company was established in 1996 and reported total assets of approximately 46.2 billion and revenue of about 23.5 billion in 2023 [7]. Group 2: Leadership Changes - Tang Liang, who became the chairman at the age of 36, has been a controversial figure due to his leadership during a period of financial losses for the listed subsidiary, Jianyi Group [5][7]. - Both Tang Liang and Guo Wei resigned from their positions in Jianyi Group in April and May 2023, citing personal reasons, shortly before the official announcement of their investigations [4][8]. Group 3: Financial Performance - Jianyi Group, under Tang Liang's leadership, has faced significant financial difficulties, with a net profit of -829 million in 2024, a year-on-year decrease of 47.23%, and a net profit of -563 million in 2023 [7]. - The company has triggered delisting risk warnings due to ongoing losses [7]. Group 4: Regulatory Issues - The China Securities Regulatory Commission initiated an investigation into Jianyi Group for suspected violations of information disclosure laws, with potential penalties including a fine of 1.5 million [7].