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less than a month after stepping down as chairman of shuanghui development (000895), the 84-year-old founder of shuanghui, wan long, took over the position of vice chairman of the company. under the chairmanship of wan hongwei, the board of directors of shuanghui development held yesterday (september 22) voted unanimously to pass the proposal.

on august 29, at the first meeting of the 9th board of directors held at shuanghui development's headquarters, the directors unanimously elected wan hongwei as the chairman of the company's 9th board of directors and wan long as the non-independent director of the company's 9th board of directors. this meeting was widely interpreted by the outside world as a "succession ceremony" for this 40-year-old chinese meat company. previously, wan hongwei had long served as the vice chairman of shuanghui development.

wan hongwei said at the time, "the position of chairman is both a responsibility and a duty, and it carries the expectations of shuanghui's 50,000 employees and their families. i am fully aware of the heavy burden on my shoulders and the great responsibility. i will not disappoint the trust of the board of directors, be diligent and responsible, continue to climb on this platform, and inherit shuanghui's 40-year management mechanism and shuanghui culture." regarding shuanghui's business strategy for development, wan hongwei said that it will "remain unwavering around meat processing and will not shift its focus to the meat industry. the direction and goals will not change in the future."

however, some people believe that the change of chairmanship is just a handover in progress, not a completed one. on the one hand, wan long did not completely step down at that time, but still retained his seat on the board of directors and served as a member of the board's audit committee. on the other hand, wan long still serves as the chairman of the board of directors of wh group (00288.hk), another listed company under the shuanghui group, while wan hongwei still serves as the vice chairman of wh group.

within one month of taking office as chairman, wan hongwei has completed the re-election of the company's presidential team and the adjustment of multiple corporate structures.

in terms of personnel changes, at the board meeting held on august 31, shuanghui development completed the re-election of key positions such as president and vice president. ma xiangjie, who has served as president of shuanghui development since 2017, continued to serve as president. the vice president team also remained stable as a whole, with only one new vice president, wan zihao, being added.

wan zihao, who was born in the 1990s, stands out in the shuanghui development team dominated by people born in the 1970s. his resume shows that wan zihao once served as the company's president assistant and general manager of luohe shuanghui import and export trading co., ltd., smithfield (shanghai) food co., ltd., and wuhu shuanghui import and export trading co., ltd.

in terms of organizational structure, the board of directors held on september 22 decided that in accordance with the company's business management needs, in order to improve operational efficiency and promote the digital construction of the enterprise, the board of directors agreed to cancel the company's group catering division and set up the company's digital transformation office. the board of directors meeting held on august 31 decided that in accordance with the company's business management needs, in order to strengthen industrial management and promote the company's quality and efficiency, the board of directors agreed to assign the company's market research center and pig procurement center to the company's fresh food division for management.

the group catering division, established in 2022, was established to implement shuanghui development's strategic policy of "continue to adjust the structure, highlight the five major industries, integrate global resources, and innovate and develop to scale", with the goal of leveraging the advantages of industrial synergy, expanding the scale of the catering business, and assisting the company's high-quality development.

in the 2024 semi-annual report, shuanghui development also mentioned that it would accelerate the development of catering and group catering businesses and contribute to new growth with new businesses. specifically, shuanghui development's catering business will leverage the company's market network advantages, accelerate c-end channel distribution, strengthen b-end demand docking, promote the construction of cooked food stores, and support scale expansion; the group catering business will strengthen order development, do a good job in food supply guarantee and supporting services, expand production and sales scale, and contribute to new growth for the company.

in the first half of 2024, shuanghui development's performance declined, and the company achieved operating income of 27.593 billion yuan, a year-on-year decrease of 9.31%; net profit of 2.296 billion yuan, a year-on-year decrease of 19.05%. during the reporting period, the company's total operating income decreased year-on-year due to factors such as the decline in sales of packaged meat products and fresh pork products, and the low price of poultry products; at the same time, due to the sluggish market prices of fresh pork products and poultry products, the gross profit of products decreased.