On the evening of April 3, China Resources Micro (688396.SH), a leading domestic semiconductor IDM company, announced that Li Hong, director and president of the company, applied for resignation as director and president of the company for personal reasons, and will no longer hold any position in the company after resignation.

CR Micro said that Li Hong was conscientious and diligent during her tenure as the company's director and president, and made important contributions to the company's long-term development. The Company and the Board of Directors would like to express their heartfelt gratitude to Li Hong for her contributions during her tenure.

At the same time, the company has just completed the general election of the chairman of the second board of directors, and He Xiaolong officially served as the chairman of China Resources Micro. This management adjustment marks a critical stage of strategic deepening and innovative development, and will further optimize the governance structure and accelerate the national industrial layout.

According to public information, during her tenure, Li Hong was fully responsible for the company's operation and development, strengthened corporate governance with innovative ideas, promoted the implementation of the regional strategic layout of China Resources Micro in two rivers and three places, and adhered to the IDM business model to promote the transformation of the company's structure. Among them, it led the implementation of the company's strategic layout of "two rivers and three places", that is, focusing on building industrial clusters in the Yangtze River Delta, Chengdu-Chongqing Economic Circle and Guangdong-Hong Kong-Macao Greater Bay Area. Through the commissioning of Chongqing 12-inch wafer manufacturing production line and advanced power packaging and testing base, Shenzhen 12-inch analog characteristic process production line and Wuxi high-end mask production line, the company has formed a coordinated development pattern of the whole industry chain covering design, manufacturing, packaging and testing. At present, the Chongqing base is in a critical period of capacity climbing, the Shenzhen production line has been put into operation, the Wuxi high-end mask project has been officially put into operation, and major projects have been implemented in an orderly manner, building a future-oriented development engine for the company.

He Xiaolong, the new chairman, holds a master's degree in microelectronics and solid-state electronics from the University of Electronic Science and Technology of China and the title of senior engineer, and has worked in the Ministry of Information Industry, the Ministry of Industry and Information Technology and the Strategic Management Department of China Resources Group, and has a deep understanding of industrial policy and strategic planning capabilities. According to the analysis of industry insiders, the work of the full-time chairman will improve the efficiency of decision-making and execution, and make the company's management more forward-looking and flexible.

As a leading power semiconductor company in China, CR Micro will achieve revenue of more than 10.1 billion yuan in 2024, a year-on-year increase of 2.2%. The company focuses on core areas such as power semiconductors, digital-analog hybrid, and intelligent sensors, among which, the market share of MOSFET products ranks first in China, MEMS sensors rank second in the country, and a number of technologies have won the second prize of the National Science and Technology Progress Award and the China Patent Excellence Award, and the products have been selected as scientific and technological innovation achievements of central enterprises. In terms of technology research and development, the company continued to tackle high-growth areas such as high-end sensors and third- and fourth-generation semiconductors to form differentiated competitive advantages.

According to the latest IDC report, the global semiconductor market is expected to resume growth in 2025 after experiencing a recovery in 2024. In this context, relying on the synergistic effect of the "two rivers and three regions" industrial ecological chain, CR Micro is accelerating the construction of its future-oriented core competitiveness through the two-wheel drive of production capacity upgrading and technological breakthroughs. In the future, the company will continue to make efforts in deepening its strategic layout and building an innovation system to inject new momentum into the high-quality development of China's semiconductor industry. (Qi and Ning).