Core Viewpoint - The resignation of Hou Xiaohai, the chairman and executive director of China Resources Beer, has sparked controversy, despite his significant contributions to the company's growth over the past decade [1][5]. Financial Performance - In 2024, China Resources Beer reported a slight revenue decline of 0.76% year-on-year, with net profit decreasing by 8.03%, marking a disappointing end to Hou's career [2][12]. - The company's revenue grew from 279.59 billion yuan in 2015 to 386.35 billion yuan in 2024, an increase of 106.76 billion yuan [9][10]. - The white liquor segment, which Hou had high expectations for, only saw a revenue growth of 3.7% in 2024, significantly below his target of over 30% [2][15]. Leadership and Contributions - Hou Xiaohai joined China Resources Beer in 2001 and became CEO in 2016, leading the company through various strategic initiatives, including the establishment of the Snow Beer brand and a major merger with Heineken [10][11]. - Under his leadership, the company received multiple accolades, including recognition as one of the best-managed teams in Asia [10]. Stock Transactions - Prior to his resignation, Hou sold 938,000 shares of the company, cashing out approximately 26.12 million Hong Kong dollars [4][17]. - Following these transactions, his shareholding dropped from 1.018 million shares to 80,000 shares, a reduction of 92% [18]. Compensation - Over his nine-year tenure as CEO, Hou received a total compensation of 50.81 million yuan, with a peak salary of 8.47 million yuan in 2020 [13][16]. - In 2024, his total compensation was significantly reduced to 3.6 million yuan, with bonuses dropping from 6.01 million yuan in 2023 to 1.6 million yuan [16].

Core Viewpoint - The resignation of Hou Xiaohai as Chairman of China Resources Beer (Holdings) Co., Ltd. will not affect the company's normal operations, and the company expresses gratitude for his contributions during his tenure [2]. Group 1: Leadership Transition - Hou Xiaohai has resigned from all positions, including Executive Director and Chairman of the Board, effective immediately [2]. - Zhao Chunwu, the Executive Director and President, will temporarily assume the responsibilities of Chairman during the transition period [2]. Group 2: Hou Xiaohai's Background and Contributions - Hou Xiaohai, born in August 1968, has a background in statistics and has worked for various companies including Shougang, Gallup, and PepsiCo before joining China Resources Snow Beer in 2001 [3]. - He became General Manager of China Resources Snow Beer in 2016 and was appointed as Chairman of China Resources Beer in April 2023 [4]. - Under his leadership, the company established the national brand of Snow Beer and implemented significant marketing strategies, including the "4+4 product matrix" and a strategic partnership with Heineken Group [4]. Group 3: Financial Performance - During Hou Xiaohai's tenure, the company's sales revenue increased by over 10 billion yuan, with sales volume of premium and above beers growing by over 2 million kiloliters [4]. - Net profit surged from 1.329 billion yuan in 2015 to 4.759 billion yuan in 2024, while net assets rose from 19.32 billion yuan to 35.585 billion yuan, an increase of 16.265 billion yuan [4]. Group 4: Recognition and Legacy - Hou Xiaohai has received multiple accolades for his leadership, including being named one of the "Leaders 50 Global Business Leaders" by Thinkers50 and "Outstanding CEO of the Year" by Forbes [5]. - His business philosophies and transformative strategies are expected to continue influencing China Resources Beer and the broader beer industry for years to come [5].