On August 31, Tcl Zhonghuan Renewable Energy Technology Co.,Ltd. (002129.SZ) issued an announcement stating that due to personal reasons, Hu Wei applied to resign from his position as board secretary. After his resignation, he will no longer hold any positions in the company or its subsidiaries. The company's board of directors simultaneously approved the appointment of Li Lina as the new board secretary.
This marks the second change in the board secretary position for Tcl Zhonghuan Renewable Energy Technology Co.,Ltd. within one year. According to public information, former board secretary Qin Shilong resigned in November 2024 due to personal reasons. With less than 10 months elapsed, his successor Hu Wei has also chosen to leave, sparking renewed market attention on the stability of the company's information disclosure management.
According to the announcement, Ms. Li Lina was born in 1983 and holds a master's degree. She previously served as securities affairs representative and head of the securities affairs department at TCL Technology Group Corporation, bringing extensive experience in capital market information disclosure.
However, it is noteworthy that as the company's business spans new energy materials and semiconductor industry chains, the board secretary serves as a core position connecting regulators, investors, and corporate governance. The frequent turnover in this position inevitably raises external concerns about the stability of corporate governance.
In the first half of 2025, Tcl Zhonghuan Renewable Energy Technology Co.,Ltd. achieved operating revenue of 13.398 billion yuan, a year-on-year decrease of 17.36%; attributable net profit showed a loss of 4.242 billion yuan, a year-on-year decrease of 3,848%. With increasingly fierce industry competition and upstream and downstream cyclical fluctuations, the company is in a critical period of continuously optimizing its business structure and capital layout, maintaining pressure on external communication and information disclosure.
Against this backdrop, frequent changes in the board secretary position not only affect communication efficiency but also increase investor concerns about the company's stability and governance system to some extent.
Additionally, according to the 2024 annual report disclosure, Tcl Zhonghuan Renewable Energy Technology Co.,Ltd.'s senior management team has experienced relatively frequent changes, with some vice president-level positions also undergoing adjustments, indicating that the company is in a critical stage of business adjustment and organizational optimization. At this juncture, the board secretary, as a capital market window role, must not only ensure information disclosure compliance but also serve as a bridge for conveying strategy, stabilizing expectations, and responding to concerns.
As of the close on September 1, the stock price closed at 8.36 yuan per share, with a year-to-date decline of 5.75% and a total market capitalization of 33.8 billion yuan.
The consecutive changes in Tcl Zhonghuan Renewable Energy Technology Co.,Ltd.'s board secretary may reflect challenges in internal and external coordination between high-intensity strategic execution and capital operations. Although new board secretary Li Lina has relevant background and qualifications, whether she can stabilize external expectations in the short term and promote systematic upgrades to the company's information disclosure and investor relations system remains to be observed.
Currently, the A-share market's sensitivity to board secretary changes is increasing. Whether it's the frequency of changes within a year, continuous tenure, or whether they come from "external appointments" or "internal transfers," all are viewed by the market as indicators of corporate governance. For Tcl Zhonghuan Renewable Energy Technology Co.,Ltd., ensuring that information disclosure work becomes more professional and systematic under the backdrop of high-quality development has become an issue that cannot be ignored.
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