Weilong Delicious Global Holdings Ltd (WL DELICIOUS) shares plummeted 5.92% in early trading on Friday, following the release of its full-year financial results and a surprise announcement of a change in leadership. The significant drop reflects investors' concerns about the company's performance and future direction.

The company reported mixed financial results for the fiscal year. While Weilong Delicious posted revenue of RMB 6,266.3 million and a net income of RMB 1,068.1 million, the gross margin of 48.1% and basic earnings per share of RMB 0.46 may have fallen short of market expectations. The company also declared a final dividend of RMB 0.11 per ordinary share and a special dividend of RMB 0.18 per share, which could be seen as a positive gesture to shareholders but might also raise questions about the company's growth prospects.

Adding to investor uncertainty, Weilong Delicious announced that Sun Yinong would be resigning from his positions as Executive Director and CEO, effective April 30, 2025. Liu Fuping has been appointed as the new CEO, taking over on the same date. This unexpected leadership change, combined with the mixed financial results, appears to have shaken investor confidence in the company's short-term outlook.

The market's sharp negative reaction suggests that investors are reassessing Weilong Delicious's growth trajectory and management stability. As trading continues, all eyes will be on how the new leadership plans to address any concerns and drive the company forward in an increasingly competitive market.