Kangmei Pharmaceutical said on August 21 that Chairman Lai Zhijian had resigned from all company positions because of a work reassignment, including chairman, director, legal representative, Board Audit Committee member and convener of the Strategy Committee. His term had been scheduled to run through February 2028. Director and General Manager Ou Guoxiong was appointed acting chairman and legal representative until a new chairman is elected through statutory procedures. The controlling shareholder simultaneously nominated Meng Jun as a non-independent director candidate; Meng had become Kangmei’s party secretary on August 17 after holding senior roles at Guangzhou Pharmaceutical Group subsidiaries, including He Jigong Pharmaceutical Factory. The transition came five days before Kangmei’s scheduled August 26 disclosure of its 2026 half-year report. After completing restructuring in December 2021 under the control of Guangdong Shennongshi, led by Guangzhou Pharmaceutical Group, Kangmei shed its delisting risk warning in July 2024 but has struggled to establish sustained growth. Revenue was 5.25 billion yuan and net profit 10.33 million yuan in 2025, while first-quarter 2026 revenue fell 16.89% year on year to 1.08 billion yuan and attributable net profit swung to a 16.56 million yuan loss. Shares closed at 1.36 yuan on August 21, down 2.16%, valuing the company at about 18.8 billion yuan.