"The Next Wave" is here! A well-known lighting company appoints a post-95s president

On January 22, Shenzhen Mingjiahui Technology Co., Ltd. (stock abbreviation: ST Mingjiahui, stock code: 300506) announced that, given the change in controlling ownership of Mingjiahui due to the implementation of its restructuring plan, Wu Liqun has become the actual controller of Mingjiahui. The Board of Directors agreed to elect Wu Liqun as Chairman of the Fifth Board of Directors of Mingjiahui; in order to strengthen management capabilities in line with development needs and enhanced management standards, the Board agreed to appoint Cheng Zhiwen as President of Mingjiahui and Wang Wei as Vice President.

According to his resume, Wu Liqun, male, was born in 1981, holds a doctoral degree, and serves as Vice President of the China Young Entrepreneurs Association. From March 2005 to July 2007, Wu Liqun served as General Manager of Beijing Lvqixing Technology Co., Ltd.; from August 2007 to the present, he has served as Chairman of Lvqi Technology Group Co., Ltd.; from January 2012 to the present, he has served as Chairman of Zhonghuan Huanhui Technology Group Co., Ltd.

It is reported that Wu Liqun does not directly hold shares of Mingjiahui. He is the actual controller of Xinyu Lingjiu Investment Management Center (Limited Partnership) (hereinafter referred to as "Xinyu Lingjiu"), the controlling shareholder of Mingjiahui. Therefore, Wu Liqun is the actual controller of Mingjiahui. After Mingjiahui completed its restructuring plan, Xinyu Lingjiu held 200 million shares, accounting for approximately 14.03% of Mingjiahui's total share capital.

Cheng Zhiwen, male, born in 1997, holds a Bachelor of Science in Financial Mathematics from The Ohio State University and a Master's degree in Quantitative Finance from New York University. Since February 2022, Cheng Zhiwen has served as Assistant to the Board Secretary of Mingjiahui; since February 2023, he has served as Deputy General Manager of the Investment and Financing Department and Assistant to the Chairman, assisting the Chairman with investment work; since September 2024, he has served as Head of the Supply Chain Management Center, comprehensively coordinating the daily management affairs of the Procurement Department, Lu'an Factory, Lu'an Industrial Park, and Warehousing Department; from December 2022 to present, he has served as a non-independent director of Mingjiahui.

In addition, Cheng Zhiwen holds 350,075 shares of Mingjiahui stock (including 200,000 shares held by Cheng Zongyu, a shareholder of Mingjiahui and former Chairman and President), accounting for 0.05% of Mingjiahui's total share capital, and is the son of Cheng Zongyu.

Cheng Zhiwen (Image source: Mingjiahui)

Wang Wei, male, born in 1990, holds a bachelor's degree in Accounting. From 2013 to 2016, he served as Project Manager at Deloitte Huayong Certified Public Accountants LLP, Shenzhen Branch; from 2017 to 2018, he served as Finance Manager at Shenzhen Beehive Media Co., Ltd.; from 2019 to 2022, he served as Securities Affairs Representative at Litong Technology Co., Ltd.; from 2022 to 2025, he served as Board Secretary at Shenzhen INVT Electric Vehicle Drive Technology Co., Ltd.. In January 2026, Wang Wei joined Mingjiahui.

Previously, on December 30, 2025, Mingjiahui issued an announcement stating that the company's controlling ownership had changed due to the implementation of its reorganization plan. The new controlling shareholder, Xinyu Lingjiu, proposed to restructure the board of directors and replace some board members based on operational and management needs. The announcement at that time mentioned that Cheng Zongyu resigned from his positions as director and president but would continue to work at Mingjiahui.

According to available information, Mingjiahui was established in 2001 and is the first independently listed lighting engineering company in China, known as the "first stock of lighting engineering." Its main business is landscape lighting engineering, including the design and construction of lighting projects, as well as the research, development, production, and sales of related lighting products. Starting from 2020, the company's operating performance declined, resulting in losses for four consecutive years.

In May 2024, creditors applied to the Shenzhen Intermediate People's Court for the reorganization of Mingjiahui and initiated pre-reorganization proceedings, on the grounds that the company was unable to repay its due debts and clearly lacked solvency, but had reorganization value.

Recently, the Guangdong Provincial Higher People's Court issued a ruling that the bankruptcy reorganization plan of Shenzhen Mingjiahui Technology Co., Ltd. has been fully executed, thereby terminating the reorganization proceedings.

According to the supervision report on the implementation of the company's reorganization plan submitted by the administrator: Mingjiahui's reorganization plan has been fully executed, over RMB 1.2 billion in reorganization investment funds have been fully received, the company has successfully resolved debts of approximately RMB 600 million, the conversion of capital reserve into share capital, as well as stock transfer and escrow work, have been smoothly completed, and claims from over 260 suppliers and nearly 100 employees have been fully settled.

On January 13, Mingjiahui also announced that the company's reorganization plan had been fully executed, and the Shenzhen Stock Exchange had approved the company's removalof the delisting risk warning imposed due to the court's acceptance of the reorganization. Starting from January 14, Mingjiahui's stock had the delisting risk warning removed, while other risk warnings remained in effect, and the stock abbreviation was changed from "*ST Mingjia" to "ST Mingjiahui", successfully "removing the star".

In the first three quarters of 2025, Mingjiahui achieved revenue of approximately RMB 106 million, a year-on-year (YoY) increase of 5.07%; net profit attributable to shareholders of the listed company was approximately -RMB 113 million, a year-on-year (YoY) decline of 231.42%. For the full year 2024, Mingjiahui achieved revenue of approximately RMB 117 million, a year-on-year (YoY) increase of 44.09%; net profit attributable to shareholders of the listed company was approximately -RMB 131 million, a year-on-year (YoY) increase of 65.22%.

值得注意的是，名家汇宣布计划在重整完成后的1-3年内，通过并购重组、产业整合等资本运作方式，在光通信、算力、半导体等领域遴选符合新质生产力方向的优质资产，推动业务结构向高技术、高成长、高盈利转型，持续提升营业收入、净资产规模与核心盈利能力。