Suddenly! Rongsheng Environmental Protection's Feng Ronghua Has Been Subjected To Mandatory Measures And Has Urgently Announced His Resignation!

On the evening of May 26th, Rongsheng Environmental Protection (603165. SH) issued two consecutive announcements: one is that the controlling shareholder and actual controller Feng Ronghua has been taken compulsory measures by the public security organs due to "personal reasons"; Secondly, Feng Ronghua resigned as chairman and all other positions on May 24th due to retirement at the age of retirement, and was succeeded by his son Feng Shengyu. Although the company emphasized that the incident was "unrelated to business", the coincidence of the timeline of mandatory measures being taken on the day after retirement has raised strong doubts in the market about the stability of management.

According to the announcement, Feng Ronghua submitted a written resignation report to the board of directors on May 24th. As he has reached the statutory retirement age, he requests to resign from his positions as chairman of the company, chairman of the board's strategic committee, and member of the board's audit committee, and will no longer be the legal representative of the company. After resigning, Feng Ronghua did not hold any positions in the company.
Feng Ronghua's sudden resignation seems particularly unusual. On May 19th, Feng Ronghua, as the Party Secretary and Chairman of the company, attended the kickoff meeting of the company's digital transformation project and delivered a speech at the meeting; In addition, on May 23rd, the day before resigning, Feng Ronghua also attended the Rongsheng Environmental Protection's first quarter 2025 performance briefing as chairman.
To ensure work continuity, the board of directors of Rongsheng Environmental Protection has agreed to elect Feng Shengyu as the new chairman and chairman of the board's strategic committee, and to elect Zhang Yunhua as a member of the audit committee. According to public information, Feng Shengyu is the eldest son of Feng Ronghua, and Zhang Yunhua is the younger sister of Feng Ronghua's spouse Zhang Yunfang.
According to public information, Feng Ronghua was born in 1965 and has held various positions including Deputy Director and Director of Pinghu Paper Mill in Zhejiang Province, General Manager of Xingxing Paper Industry Co., Ltd. in Pinghu City, General Manager of Rongsheng Paper Industry Co., Ltd. in Jiaxing City, and Chairman and General Manager of Rongsheng Environmental Protection.
As of the end of the first quarter of this year, Feng Ronghua held 104 million shares of the listed company, accounting for 38.31% of the total share capital.
From the perspective of equity structure, Rongsheng Environmental Protection is a typical family owned enterprise. As of the end of the first quarter, Feng Ronghua and Zhang Yunfang were the first and second largest shareholders, respectively. Their eldest and second sons, Feng Shengyu and Feng Shengwei, were tied for the third largest shareholder, with a shareholding ratio of 4.31%.
In terms of performance, Rongsheng Environmental Protection recorded a revenue of 534 million yuan in the first quarter of this year, a year-on-year decrease of 2.53%; The net profit was 70.5902 million yuan, a year-on-year decrease of 22.61%.