Recently, Cai Yanming, Chairman of Wangwang Group, released “A Letter to All Wangwang People”. In the letter, Choi Yin-ming said, “As China's strong performance and profit performance in the first quarter of FY2026 fell short of expectations, the company published a voluntary announcement on the Hong Kong Stock Exchange website on the evening of July 26 explaining the current state of business and future prospects. I hope all Wangwang people will pay great attention to the company's major business crisis.” The letter stated, “Today's bitter fruits are due to our laziness over the past few years and our failure to take the original clean up in a timely manner. Therefore, we must really reflect on ourselves, not blame the market, customers, or complain about the general environment.” Choi Yin-ming also stressed that if they are cadres who cannot contribute, then they must be eliminated. “The Group now wants strong people who can contribute and have merit! Those with no output and no credit will need to be eliminated!”

Recently, Cai Yanming, Chairman of Wangwang Group, released “A Letter to All Wangwang People”. In the letter, Choi Yin-ming said, “As China's strong performance and profit performance in the first quarter of FY2026 fell short of expectations, the company published a voluntary announcement on the Hong Kong Stock Exchange website on the evening of July 26 explaining the current state of business and future prospects. I hope all Wangwang people will pay great attention to the company's major business crisis.” The letter stated, “Today's bitter fruits are due to our laziness over the past few years and our failure to take the original clean up in a timely manner. Therefore, we must really reflect on ourselves, not blame the market, customers, or complain about the general environment.” Choi Yin-ming also stressed that if they are cadres who cannot contribute, then they must be eliminated. “The Group now wants strong people who can contribute and have merit! Those with no output and no credit will need to be eliminated!”