Weiye Corporation disclosed in an announcement that its board of directors recently received written resignation reports from Vice Chairman Zhang Hanwei and Director Tang Tao. Zhang Hanwei applied to resign from the vice chairman position due to work adjustments, and will continue to serve as a director and a member of the Strategy and ESG Committee after resigning. Tang Tao applied to resign from all positions including director, vice president, and chief engineer for personal reasons, and will no longer hold any position in the company or its subsidiaries after resigning. The original terms of both individuals were set to run until October 9, 2027, and the resignations will not affect the normal operation of the board or the company's daily operations. Weiye Corporation reported net losses of 407 million yuan and 45.63 million yuan for the full year 2025 and the first quarter of 2026 respectively. As of March 31, 2026, its debt-to-asset ratio reached 96.17 percent, with accounts receivable of 5.66 billion yuan, up 41.37 percent year on year. As of the close on August 21, the company's share price stood at 7.35 yuan per share, with a total market value of 1.53 billion yuan and a cumulative decline of 12.60 percent for the year.
Shenzhen Weiye Decoration Group Co LtdCompany posts consecutive losses and high debt ratio, with resignations of key executives.
