The founder of a major Chinese automotive company will step down from his roles as chairman and executive director effective today after more than two decades leading the business, marking the end of an era rooted in family management. The company announced this shift yesterday.
Following his departure from the chairman position, he will assume the title of lifetime honorary chairman of the Hong Kong-listed company and will still maintain his controlling interest. He will also continue to serve as chairman of the parent corporation.
His successor as chairman will be the company’s chief executive officer, who has previously led as CEO of the automotive brand and its electric vehicle division, Zeekr. The auto firm, based in Hangzhou, explained that the new chairman, An Conghui, was groomed within the company’s corporate structure and is considered a key figure in its automotive operations.
On a recent earnings call discussing the company’s interim financial results, the outgoing leader spoke highly of An, highlighting his talent development and importance to the company. “To better leverage professional expertise and develop a stronger management team, we are nominating An as chairman,” he stated.
In addition, there was a significant leadership restructuring: Gui Shengyue will resign as CEO and take on the role of vice-chairman while continuing as an executive director. Gan Jiayue will succeed as CEO, responsible for daily operations and retaining his executive director position. Meanwhile, Li Donghui will step down from his vice-chairman role but remain an executive director.
Gui emphasized that this management reshuffle reflects a strategic move toward institutional leadership and away from family-centered management, aligning with the company’s forward-looking governance philosophy. He shared that this transition marks a shift from founder-led growth to a stage of maturity driven by organizational systems and team development, rather than individual charisma.
In financial highlights, the company reported a 46% increase in net profit for the first half of the year compared to the previous year, reaching about $210 million. Revenue also climbed 15%, hitting an all-time high of approximately $4 billion, continuing a tradition of steady annual growth. The company’s core net profit margin was 5.6%, with gross margins improving to 17.9%. The average revenue generated per vehicle increased by 16% year-over-year to roughly $16,500.