Core Viewpoint - Tai Hing Group has announced the appointment of new leadership following the passing of its founder, Chen Yong'an, with a focus on maintaining its market presence and addressing recent store closures in mainland China [4]. Group 1: Leadership Changes - Chen Jiakang has been appointed as the new Chairman of the Board, Nomination Committee Chairman, and a member of the Remuneration Committee [4]. - Chen Shufang has been appointed as the Vice Chairman of the Board, effective immediately [4]. - Chen Jiakang, aged 44, is the son of the late Chen Yong'an and has been with Tai Hing Group since 2009 [4]. Group 2: Company Background - Tai Hing Group was founded in 1989 with the opening of its first restaurant in Hong Kong [4]. - The company has expanded to include 18 restaurant brands, with over 210 locations [4]. - The first mainland store was opened in Shenzhen in 2004, and the company was listed on the Hong Kong Stock Exchange in June 2019 [4]. Group 3: Financial Performance - For the first half of 2025, Tai Hing Group reported revenue of HKD 1.712 billion, a year-on-year increase of 6.2% [4]. - The net profit attributable to shareholders was HKD 40.81 million, reflecting a significant year-on-year increase of 280.75% [4]. - The gross profit margin reached 73.4% [4]. Group 4: Market Presence - The number of Tai Hing restaurants in mainland China has been declining, with store counts dropping from 63 in 2019 to 31 in 2024 [4]. - The majority of closures have affected the main brand, Tai Hing Restaurant [4]. Group 5: Market Performance - As of the latest update, Tai Hing Group's stock price is HKD 1.110 per share, with a market capitalization of HKD 1.08 billion [5].