Core Viewpoint - Ningbo Huaxiang announced the dismissal of Vice President Jing Lihua due to personal reasons, which will not adversely affect the company's normal operations [1][4]. Company Overview - Ningbo Huaxiang, established in 1988 and listed on the Shenzhen Stock Exchange in 2005, specializes in the design, development, production, sales, and after-sales service of mid-to-high-end passenger car parts [4]. - The company provides interior and exterior trim, body metal parts, automotive electronics, and related services to numerous international automotive brands [4]. Financial Performance - For the first half of 2025, Ningbo Huaxiang reported total revenue of 12.879 billion yuan, a year-on-year increase of 10.89%, but a net profit attributable to shareholders of -374 million yuan, a significant decline of 169.84% [4]. - In Q2 2025, the company achieved revenue of 6.618 billion yuan, a year-on-year growth of 11.74%, but the net profit attributable to shareholders was -630 million yuan, with a year-on-year decline of 302.86% [5]. - The company attributed the performance decline to a one-time impact of approximately 899 million yuan from the divestiture of its European business, which has been a source of significant losses since 2014 [5]. Business Restructuring - To address the ongoing losses from its European operations, Ningbo Huaxiang signed a share purchase and transfer agreement on February 25, 2025, to sell six subsidiaries in Europe for 1 euro, a process completed in April 2025 [5]. - The company reported that the divestiture was necessary to resolve the substantial losses from its European business, which had negatively impacted overall development [5]. Stock Market Information - As of September 28, the stock price of Ningbo Huaxiang was 36.75 yuan per share, with a total market capitalization of 29.91 billion yuan [7].