Core Viewpoint - The recent management change at Xinghuo Technology, with the appointment of Yan Xiaolin as the new general manager, is seen as a strategic move to deepen integration and enhance management synergy following the significant acquisition of Yipin Biotechnology [1][3][7]. Group 1: Management Changes - The former general manager, Ying Jun, has resigned due to work adjustments, effective immediately upon submission of his resignation to the board [2][3]. - Yan Xiaolin, previously the president of Yipin Biotechnology, has been appointed as the new general manager, replacing Ying Jun [1][3]. Group 2: Acquisition Details - Xinghuo Technology's acquisition of Yipin Biotechnology in 2022 is referred to as a "snake swallowing an elephant" due to the significant size difference between the two companies [4][5]. - Prior to the acquisition, Xinghuo Technology's revenues were significantly lower than those of Yipin Biotechnology, with revenues of 1.116 billion yuan and 1.235 billion yuan in 2020 and 2021, respectively, compared to Yipin's revenues of 11.081 billion yuan and 14.665 billion yuan during the same period [4][5]. Group 3: Financial Impact - Following the acquisition, Xinghuo Technology's revenue for 2024 is projected to be 17.334 billion yuan, with a net profit of 943 million yuan, largely driven by Yipin's contribution of 16.001 billion yuan in revenue [5][6]. - In the first half of 2025, Xinghuo Technology reported revenues of 8.160 billion yuan and a net profit of 836 million yuan, with Yipin contributing 7.589 billion yuan in revenue [5][6]. Group 4: Strategic Implications - The acquisition is expected to enhance synergy in technology research and development, sales channels, procurement resources, and financing capabilities, thereby improving market competitiveness [6][7]. - The integration of Yipin Biotechnology allows Xinghuo Technology to transition from a single food additive company to a comprehensive entity with a complete bio-fermentation industry chain [7].