In a strategic move towards succession planning, Wu Dongsheng, Chairman of Shinkong Synthetic Fibers, has appointed his sons to key leadership positions within the group. Wu Xinjie, an alumnus of Columbia University specializing in economics and psychology, has ascended to the role of Vice Chairman after his recent induction onto the Board of Directors. Meanwhile, Wu Xinyue, the second son and a professional with an accounting background, assumes directorship at Xin Shuo Xian, leveraging prior experience at Japan’s Shinsei Bank’s real estate department. These appointments mark a significant transition in the top-tier management of the established textile factory.
Shinkong Synthetic Fibers underscored that, presently, professional managers continue to oversee operational functions across various departments. The latest financial report, endorsed by the Board of Directors, reveals an earnings per share (EPS) of 0.26 yuan in the third quarter of this year. This signifies a 100% sequential quarterly growth and a 62% annual decline. The sustained growth over three consecutive quarters since the last quarter of the previous year suggests a positive trajectory, indicating a gradual emergence from a period of stabilization.
