Core Points - The founder and actual controller of Xinquan Automotive Trim Co., Ltd., Tang Aoqi, passed away on October 26 at the age of 80, as announced by the company on October 27 [2] - Tang Aoqi was instrumental in the establishment and growth of Xinquan, dedicating over 40 years to the automotive industry [2] - The company confirmed that Tang's death will not lead to a change in control, as the controlling shareholder, Jiangsu Xinquan Zhihua Investment Co., holds 25.86% of the total shares [2] Company Background - Xinquan was founded by Tang Aoqi and his son, evolving from a small workshop producing automotive instrument panels into a significant player in the automotive parts industry [2][6] - The company has expanded its business from supplying small automotive manufacturers to collaborating with major brands such as FAW-Volkswagen, Shanghai Volkswagen, and Geely [7] - Xinquan went public on the A-share main board in March 2017, and under Tang's leadership, the company adopted a global expansion strategy, establishing production bases in various locations, including Mexico and Germany [8] Financial Performance - In 2017, Xinquan reported a revenue of 3.095 billion yuan and a net profit of 250 million yuan [8] - By the first half of 2025, the company's revenue increased by 21.01% year-on-year to 7.459 billion yuan, with a net profit growth of 2.80% to 422 million yuan [8]