ST Zhongzhuo's supplementary election of 75th member Wu Shichun as a non-independent director, previously worked at Huawei and Baidu

Rui Cai Jing Liu Zhiying On February 24, ST Zhongzhu (SH600568) announced that the company held the 18th meeting of the 10th Board of Directors, during which the proposal to re-elect a non-independent director of the 10th Board of Directors was approved. The board agreed to re-elect Wu Shichun as a non-independent director of the 10th Board.

Previously, Liu Huiping resigned from his positions as director and member of the Nomination Committee of the company due to personal reasons. After resigning, Liu Huiping will continue to serve as the company’s vice president and general manager of Zhuhai Zhongzhu Hongqi Investment Co., Ltd.

Wu Shichun, born in April 1977, graduated from Jilin University with a bachelor’s degree in Materials Science. He has worked as a technical engineer at Huawei Technologies Co., Ltd.; senior engineer and R&D testing manager at Baidu Online Network Technology (Beijing) Co., Ltd.; founder and CTO of Beijing Shangzhixun Software Co., Ltd.; co-founder and CTO of Beijing Kuxun Technology Co., Ltd.; co-founder and senior vice president of Beijing Diandiao Network Co., Ltd. He is currently the founding partner of Ningbo Meihua Angel Investment Management Co., Ltd.

ST Zhongzhu was established on June 27, 1994, with legal representative Chen Xu and registered capital of 1.993 billion yuan. Its main businesses are pharmaceuticals, medical services, and real estate. The major shareholder is Shenzhen Langdi Technology Development Co., Ltd., holding 19.08% of shares.

The latest performance forecast shows that ST Zhongzhu is expected to achieve a net profit attributable to shareholders of listed companies between -100 million and -150 million yuan in 2025; net profit attributable to shareholders after deducting non-recurring gains and losses is expected to be between -110 million and -160 million yuan.

The main reasons for the expected loss in this period are: first, influenced by the real estate market environment, with declining housing prices leading to asset impairment losses on commercial assets, and significant bad debt provisions for accounts receivable from joint ventures in commercial real estate projects. Second, the Beijing Loyal Oncology Hospital project is unable to operate normally, resulting in losses, and a court judgment has been executed to vacate the premises.