China BlueChemical Ltd (3983.HK) saw its stock price plummet by 5.12% during Wednesday's intraday trading session, following a significant management change announced late Tuesday. The company disclosed that Hou Xiaofeng has resigned from his positions as CEO and President, effective March 18, 2025.
In a move that has seemingly rattled investors, the company simultaneously announced the appointment of Rao Shicai as the new CEO, President, and Executive Director, also effective from March 18. This abrupt leadership transition appears to have sparked concerns among shareholders about the company's future direction and stability.
The management shake-up comes on the heels of China BlueChemical's release of its full-year financial results. The company reported a revenue of RMB 11,946 million and a net income of RMB 1,151.1 million for the fiscal year. Despite proposing a final dividend of RMB 0.1208 per share, the market's reaction suggests that investors are more focused on the potential implications of the leadership change than on the company's financial performance.
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