Shanghai Jiahua issued an announcement stating that the board of directors decided to appoint Lin Xiaohai as the company's CEO and general manager for a term beginning on June 1, 2024. Shanghai Jiahua (Group) Co., Ltd., the controlling shareholder of the company, nominated Mr. Lin Xiaohai as a director candidate and will be submitted to the company's shareholders' meeting for consideration. Earlier, on the evening of March 26, Da Runfa's parent company Gaoxin Retail (06808.HK) announced that Lin Xiaohai had resigned as the executive director of Gaoxin Retail and that the CEO was transferred back to Alibaba Group for another appointment due to need. Does it mean that Lin Xiaohai will join Shanghai Jiahua in less than two months after returning to Ali from the plan mean that Shanghai Jiahua will have deeper cooperation with Alibaba? In response to this, the relevant person in charge of Shanghai Jiahua responded to the reporter saying that Lin Xiaohai has many years of management experience in multinational consumer goods companies and the Chinese FMCG industry and has strong strategic leadership and execution. Ali is one of Shanghai Jiahua's key partners, but this appointment has nothing to do with cooperation. (Exciting)