Core Viewpoint - The company *ST Songfa is undergoing a board reshuffle, with a notable inclusion of a "post-00s" director, Chen Hanlun, who is the son of the actual controllers of the company, indicating a generational shift in leadership [1][3]. Group 1: Company Leadership and Changes - *ST Songfa's board has proposed a new election for non-independent directors, nominating Chen Jianhua, Chen Hanlun, Wang Xiaohai, Shi Yugao, Zhang Enguo, and Wang Yue [1]. - Chen Hanlun, born in 2001, is 24 years old and has a master's degree in applied finance. He has previously worked as a tax consultant at PwC Singapore and has been deeply involved in the management of Hengli Group [3][4]. - The company has seen a significant increase in the wealth of its actual controllers, with Chen Jianhua and Fan Hongwei ranking as Jiangsu's richest with a stock value of 801.2 billion yuan, up by 119.9 billion yuan from the previous year [3]. Group 2: Financial Performance and Strategic Moves - *ST Songfa has turned a profit in the first half of the year, with a projected net profit of 580 million to 700 million yuan for the first half of 2025, marking a turnaround from previous losses [5]. - The company is undergoing a major asset restructuring to acquire 100% of Hengli Heavy Industry, which specializes in shipbuilding and high-end equipment manufacturing, aiming to accelerate its strategic transformation and seek new profit growth points [5]. - As of August 6, *ST Songfa's stock closed at 48.19 yuan per share, up 3.59%, with a total market capitalization of 41.525 billion yuan [6].

Group 1 - Chen Jianhua is one of the actual controllers of the company, directly holding 131 million shares, and has served as the chairman and president of Hengli Group since January 2001 [1] - Chen Hanlun, born in 2001 and only 24 years old, is the son of Chen Jianhua and Fan Hongwei, the actual controllers of *ST Songfa. He holds a master's degree in applied finance and has previously worked as a tax consultant at PwC Singapore. Since March 2024, he has been the vice president of Hengli Group [1] - In June 2023, the 2025 New Fortune 500 Rich List showed that Chen Jianhua and Fan Hongwei ranked as the richest in Jiangsu with a holding market value of 80.12 billion yuan, an increase of 11.99 billion yuan from the previous year [1] Group 2 - In the 2024 Hurun Rich List, Chen Jianhua and Fan Hongwei's wealth reached 125 billion yuan, ranking 20th [2] - Hengli Group acquired *ST Songfa through equity transfer in October 2018. In October of the previous year, *ST Songfa announced a major asset restructuring plan to acquire 100% of Hengli Heavy Industry [2] - Hengli Heavy Industry specializes in the research, production, and sales of ships and high-end equipment, establishing an advanced manufacturing base for ships and high-end equipment in Dalian Changxing Island [2] - The restructuring of *ST Songfa was completed in May 2023, leading to management adjustments and the relocation of the company's office to Dalian [2] - As of the report date, *ST Songfa's stock price was 47.41 yuan per share, with a total market value of 40.853 billion yuan [2] - On June 24, 2023, Hengli Heavy Industry held a naming ceremony for its first 30.6 million deadweight ton Very Large Crude Carrier (VLCC), with Chen Hanlun delivering a speech as the vice president of Hengli Group [2]

Core Viewpoint - *ST Songfa (603268.SH) is undergoing a board restructuring with the nomination of new non-independent directors, including Chen Jianhua, who is one of the actual controllers of the company, and his son Chen Hanlun, who is 24 years old and has a background in finance [1][3]. Group 1: Company Leadership Changes - The board of *ST Songfa plans to hold an early election to nominate new non-independent directors, including Chen Jianhua, Chen Hanlun, Wang Xiaohai, Shi Yugao, Zhang Enguo, and Wang Yue [1]. - Chen Jianhua directly holds 131 million shares of *ST Songfa and has been the chairman and president of Hengli Group since January 2001 [1]. - Chen Hanlun, the son of Chen Jianhua, holds a master's degree in applied finance and has served as a tax consultant at PwC Singapore before becoming the vice president of Hengli Group in March 2024 [1][3]. Group 2: Hengli Group Overview - Hengli Group, controlled by Chen Jianhua and Fan Hongwei, is ranked among the Fortune Global 500 and the top 500 Chinese enterprises, with a total revenue of 871.5 billion yuan in 2024 [3]. - The couple ranked as the richest in Jiangsu with a holding market value of 80.12 billion yuan, an increase of 11.99 billion yuan from the previous year [3]. - In the 2024 Hurun Rich List, their wealth reached 125 billion yuan, placing them 20th [3]. Group 3: Recent Developments and Market Position - Hengli Group acquired *ST Songfa in October 2018 and announced a major asset restructuring plan in October last year to acquire 100% of Hengli Heavy Industry [3]. - Hengli Heavy Industry specializes in the research, production, and sales of ships and high-end equipment, establishing a manufacturing base in Dalian [3]. - The restructuring was completed in May this year, leading to management adjustments and a relocation of the company's office to Dalian [3]. - As of the latest report, *ST Songfa's stock price is 47.41 yuan per share, with a total market value of 40.853 billion yuan [3].

Core Viewpoint - *ST Songfa has undergone significant changes in its main business, controlling shareholders, and equity structure due to major asset swaps and share issuance for asset purchases, prompting the board to propose an early re-election [2][3] Group 1: Company Changes - The board of *ST Songfa has nominated candidates for non-independent director positions, including Chen Jianhua, who is one of the actual controllers and holds 131 million shares [2] - Chen Hanlun, the son of Chen Jianhua, is 24 years old and has a master's degree in applied finance, currently serving as the vice president of Hengli Group [2][3] - Hengli Group, which took control of *ST Songfa in 2018, has not significantly improved the company's performance since the acquisition [2][3] Group 2: Strategic Moves - *ST Songfa plans to acquire 100% of Hengli Heavy Industry, which specializes in shipbuilding and high-end equipment manufacturing, to accelerate its strategic transformation and seek new profit growth points [3] - The restructuring was completed in May 2023, leading to management adjustments and a relocation of the company's office to Dalian [3] Group 3: Financial Performance - The company forecasts a net profit of 580 million to 700 million yuan for the first half of 2025, indicating a turnaround from previous losses [3] - As of August 6, 2023, *ST Songfa's stock price closed at 48.19 yuan per share, with a market capitalization of 41.525 billion yuan [3] Group 4: Industry Collaborations - Hengli Heavy Industry signed a strategic cooperation agreement with Swiss MSC for comprehensive collaboration in new shipbuilding, engine supply, and ship repair [4] - The first ultra-large oil tanker built by Hengli Heavy Industry was unveiled in June 2023, with Chen Hanlun participating in the naming ceremony [4] Group 5: Wealth and Rankings - In 2024, Hengli Group reported total revenue of 871.5 billion yuan, and the wealth of Chen Jianhua and his wife reached 125 billion yuan, ranking them 20th on the Hurun Rich List [4]