Greentown China announced that Liu Chengyun has resigned as board chairman, with 59-year-old China Communications Construction veteran Zhao Hui taking over and concurrently serving as CEO, holding both roles. Zhao Hui previously served as chairman of CCCC Real Estate Group, where he led the restructuring of CCCC's real estate business, and joined Greentown China in June 2025 as party secretary and executive president. This management change comes just 16 months after Liu Chengyun took over in March 2025, while acting CEO Geng Zhongqiang served less than four months. The main challenge facing Zhao Hui is the destocking pressure from Greentown China's approximately 105 billion yuan in long-term inventory, with the company's net profit attributable to shareholders in 2025 at only 71 million yuan, a year-on-year decline of 95.6%.
Greentown China Holdings LtdNet profit plunged 95.6% to 71 million yuan, and chairman changes again after 16 months, signaling instability and poor performance.
CCCG Real Estate Corp Ltd