Major leadership changes at TCL Zhonghuan! Involving Vice Chairman, CEO, and Senior Vice President

（Source: Digital Energy DNE）

On the evening of March 24, TCL Zhonghuan issued an announcement stating that the board of directors recently received Wang Yunjun’s written resignation application. In order to focus on the management of the company’s semiconductor materials business, Wang Yunjun has applied to resign as the company’s CEO (Chief Executive Officer) and legal representative.

At the Seventh Session of the Board of Directors’ Nineteenth Meeting held on the same day, the board elected Wang Yunjun as the Vice Chairman of the company’s Seventh Session of the Board of Directors. The term shall run from the date this board approves the matter until the term of this session of the board expires.

At the same time, TCL Zhonghuan announced the appointment of Ouyang Hongping as the company’s CEO and legal representative, and appointed him to act in the duties of the company’s COO (Chief Operating Officer); it also appointed Zhang Haipeng as the company’s SVP (Senior Vice President), focusing on the management and development of the new energy photovoltaic materials business.

In addition, TCL Zhonghuan also announced that the company’s board of directors recently received resignation applications from non-independent directors Shen Haoping, Liao Qian, and Zhang Changxu. For personal reasons, the three individuals have applied to resign as directors of the company and as members of the corresponding special committees of the board of directors. Among them, Zhang Changxu will continue to serve as TCL Zhonghuan’s SVP.

Following nominations by the company’s shareholders and review by the board’s nomination committee, the board agreed to nominate Ouyang Hongping and Wang Cheng as candidates for non-independent directors of the company. The term shall run from the date the shareholders’ meeting approves the matter until the term of this session of the board expires. This proposal still needs to be submitted to the company’s shareholders’ meeting for review.

After being approved through democratic election by the employee representatives’ conference, Lu Ziliang became an employee director of TCL Zhonghuan’s Seventh Session of the Board of Directors. His term runs from the date this announcement is disclosed until the term of the Seventh Session of the Board of Directors expires.

On the evening of March 24, TCL Zhonghuan also released its 2025 annual performance report.

In 2025, TCL Zhonghuan achieved operating revenue of RMB 29.05B, up 2.22% year over year; net profit recorded a loss of RMB 9.26B, with the loss narrowing by 5.65% year over year; and non-recurring item-adjusted net profit recorded a loss of RMB 9.77B, with the loss narrowing by 10.39% year over year. Of this, in the fourth quarter, the company’s revenue was RMB 7.48B, and its net profit recorded a loss of RMB 3.49B.

The annual report shows that in 2025, in the photovoltaic materials segment of TCL Zhonghuan, revenue was RMB 12.24B, down 26.49% year over year; in the battery cell and module business, revenue was RMB 9.32B, up 60.45% year over year; and in the semiconductor business, revenue was RMB 5.71B, up 21.75% year over year.

In 2025, TCL Zhonghuan’s module shipments were 15.1GW.

Personal Profile

Wang Yunjun: Chinese national, born in 1983. Holds a PhD degree and an electronic information PhD. Senior engineer with associate professorial title. Currently serves as Vice Chairman of the company’s board and a director. Also serves as Vice Chairman and General Manager of Tonghuan Leading Semiconductor Technology Co., Ltd. Previously held positions such as CEO (Chief Executive Officer) and legal representative of the company, among others.

Ouyang Hongping: Chinese national, born in 1976. Holds a bachelor’s degree in industrial automation and has an undergraduate education background. Currently serves as the company’s CEO (Chief Executive Officer) and legal representative, and is acting in the duties of the company’s COO (Chief Operating Officer). Previously served as Senior Vice President of TCL Huaxing, General Manager of the MC SBU, General Manager of the OLED backend, General Manager of Huaxian Optoelectronics, and other positions.

Wang Cheng: Han ethnicity, born in 1974. Holds an EMBA from the University of Texas at Arlington in the United States. Currently serves as CEO (Chief Executive Officer) of TCL Technology Group. Mr. Wang Cheng joined TCL Group in 1997. After that, from then to 2019 he successively served as the head of multiple management positions in TCL’s multimedia overseas business, as well as TCL Group’s head of human resources, Senior Vice President, and other roles. From October 2017 to August 2021, he served as CEO of TCL Electronics. From January 2019 to August 2021, he served as CEO of TCL Industrial Holding. Since August 2021, he has served as COO of TCL Technology Group.

Lu Ziliang: Chinese national, born in 1986. Holds an undergraduate degree. Previously served as Director of the R&D HRBP at TCL Huaxing, and as a human resources expert in the Organization Department of TCL Group, among other roles. Currently serves as an employee director of the company and the head of the HR department for the photovoltaic materials business line in the Human Resources Center.

Zhang Haipeng: Chinese national, born in 1987. Holds a master’s degree and an MBA. Currently serves as an SVP (Senior Vice President) and General Manager of the Photovoltaic Materials Business Unit. Previously held positions such as head of the long BG BG of the photovoltaic materials, and head of the photovoltaic materials BG marketing center, among others.

Source: Company announcement

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