Core Points - The central theme of the news is the significant leadership change at China Merchants Shekou, with Zhu Wenkai replacing Jiang Tiefeng as the new chairman and legal representative of the company [1][2]. Group 1: Leadership Change - Zhu Wenkai, aged 58, has been appointed as the new chairman, previously serving as the general manager of China Merchants Hainan Development Investment Company, bringing experience in diversified business operations [5]. - Jiang Tiefeng, the former chairman, has transitioned to become the deputy general manager of China Merchants Group, having previously held various senior roles within China Merchants Shekou [5][6]. Group 2: Financial Performance - In the first half of the year, China Merchants Shekou reported a revenue of 51.485 billion yuan, a year-on-year increase of 0.41%, and a net profit attributable to shareholders of 1.448 billion yuan, up 2.18%. However, the net profit after deducting non-recurring items fell by 31.23% to 962 million yuan [2][7]. - The company's net profit for 2024 is projected to drop significantly to 2.449 billion yuan, a decline of over 83% from its peak in 2018 [6]. Group 3: Strategic Focus - China Merchants Shekou has shifted its strategy from broad expansion to focusing on "core 10 cities," with 53% of its land reserves located in major cities like Shanghai, Beijing, and Hangzhou [8][9]. - The company has continued to acquire land aggressively, spending approximately 35.3 billion yuan on 16 plots in the first half of the year, with a focus on partnerships with state-owned enterprises to mitigate operational risks [9][10].