It was exclusively learned on April 10 that He Geping, the Chief Financial Officer of *ST Kimco (000656.SZ, Kimco Realty Group Co., Ltd.), has left the company.

Information shows that He Geping is 58 years old, born in June 1968, a Canadian citizen, and holds a Bachelor of Laws and a Master of Business Administration. From 1996 to 2004, she served as Senior Finance Manager at Nortel Networks in Canada. Between 2004 and 2005, she was the Chief Financial Officer for Yahoo China. From 2006 to 2010, she held the position of CFO at Schneider Electric. Between 2010 and 2013, she served as Global Vice President of Finance/Chief Financial Officer for Greater China at Hologic. From 2013 to 2025, she was the Senior Vice President of Global Finance at Boston-Power. She assumed the role of CFO at the company in October 2025.

Kimco Realty Group Co., Ltd. was established in 1998 and listed on the A-share market in 2011. It is a large privately-owned listed real estate enterprise with 1,032 affiliated companies. Its wholly-owned subsidiary, Chongqing Kimco, controls 370 project companies and serves as the core asset vehicle.

In 2022, Kimco encountered a severe liquidity crisis. Approximately $325 million of its overseas bonds failed to be repaid on schedule. This default event acted as a trigger, directly leading to the concentrated outbreak of overall debt risks within the Kimco group of companies. This ultimately resulted in defaults on approximately 147 billion yuan in debt, plunging the company's operations into severe difficulties.

To resolve the debt risks and protect the legitimate rights and interests of relevant parties, on April 22, 2024, the Chongqing Bankruptcy Court ruled to accept the bankruptcy restructuring applications for Kimco and Chongqing Kimco. In light of the company's actual operations and debt situation, the court innovatively adopted a coordinated restructuring and review model for the two companies, advancing various restructuring tasks in a unified manner, with a core focus on the key objectives of "ensuring housing delivery and stabilizing livelihoods."

During the restructuring process, efficient coordination was achieved through a government-court linkage mechanism. Approximately 1.7 billion yuan in relief funds were successfully secured, providing solid financial support for ensuring housing delivery and effectively safeguarding the immediate interests of homebuyers. For the 1,031 affiliated enterprises under the Kimco group, differentiated disposal plans were precisely formulated according to the "four categories" classification principle, orderly promoting risk resolution and asset sorting for affiliated companies to maximize the revitalization of existing assets and reduce overall risk.

After a series of rigorous preparation and voting procedures, in May 2025, the restructuring plans for Kimco and Chongqing Kimco were approved by the creditors' meeting. The court ruled to approve the restructuring plans and simultaneously terminated the restructuring proceedings.

As of now, the restructuring plan has been fully executed, and the investor's contribution of 2.628 billion yuan has been paid in full.

By the end of January 2026, the Kimco group of companies had completed the resumption of construction for all 139 projects, delivering a total floor area of 48.51 million square meters, comprising 316,700 housing units, achieving a delivery progress rate of 98.5%.

The company's previously disclosed performance forecast for 2025 indicates an estimated net profit attributable to shareholders of the listed company ranging from 30 billion yuan to 35 billion yuan. After deducting non-recurring gains and losses, the net profit is estimated to be between -35 billion yuan and -29 billion yuan. Operating revenue is forecasted to be between 6 billion yuan and 7.5 billion yuan. The estimated net assets attributable to shareholders of the listed company at the end of 2025 are projected to be between 5 billion yuan and 7 billion yuan.

According to DZH VIP, as of today's market close, *ST Kimco's stock price was reported at 1.38 yuan per share, an increase of 0.73%.