25 Years of Perseverance Finally Exit: New City Group Veteran Lu Xiaoping Resigns, A Microcosm of Professional Managers in Corporate Transformation Wave

The core management team of Xincheng Group has undergone significant changes. Two affiliated publicly listed companies, Xincheng Holdings Group Co., Ltd. and Xincheng Development Holdings Limited, issued announcements on the same day, announcing that senior executive Lv Xiaoping, aged 65, has resigned from all positions, ending his 25-year career early. This personnel adjustment comes at a time of deep transformation in the real estate industry, sparking widespread market attention to strategic shifts and leadership changes within property companies.

According to details disclosed by Xincheng Holdings, Lv Xiaoping applied to resign from his director position due to personal reasons. His original term was scheduled to end in May 2027. The resignation took effect immediately upon delivery of the resignation report to the board and will not cause the number of directors to fall below the legal minimum. The company specifically stated that Lv Xiaoping did not hold any shares and had no unfulfilled commitments, and his departure would not have a substantial impact on daily operations. Xincheng Development also announced that Lv Xiaoping resigned from his roles as Executive Director, CEO, and member of the Environmental, Social, and Governance Committee, citing the need to devote more energy to other matters.

As a veteran figure in Xincheng, Lv Xiaoping’s career has spanned key phases of the company’s expansion. After joining Jiangsu Xincheng Real Estate in 2001, he held positions such as General Manager and Vice Chairman. In 2016, he became CEO of Xincheng Development, becoming a core figure in daily operational decision-making. During the digital transformation promoted in 2025, he led the establishment of a Digital Asset Research Institute to explore innovative businesses like tokenization of real-world assets. In October of the same year, he stepped down from his non-executive director role at Xincheng Yue Service, and this time, he has completely exited all executive positions.

Both companies highly praised Lv Xiaoping’s contributions in their announcements, especially highlighting his key role in the development of the business operations sector. Data shows that in 2025, Xincheng’s business structure significantly diversified: residential sales revenue halved year-on-year to 19.27 billion yuan, while commercial operation income grew against the trend by 10% to 14.09 billion yuan, with more projects in operation at Wuyue Plaza. This “retail over residential” phenomenon directly reflects the company’s strategic shift toward income-generating properties.

Industry analysts note that Lv Xiaoping’s departure carries dual symbolic significance. On a corporate level, it marks the beginning of management iteration within Xincheng, with the new leadership team expected to accelerate the “light development, heavy operation” strategy by disposing of existing land reserves and expanding agency construction businesses to optimize the balance sheet. Industry-wise, the departure of a professional manager who witnessed the company’s growth from a regional developer to a trillion-yuan group reflects profound changes in the real estate sector—traditional development models are waning, and operational capability has become the core competitive advantage.

Currently, Xincheng Development has initiated the selection process for a new CEO but has not disclosed specific candidate criteria. The market is generally concerned about whether the new management can sustain growth in the commercial sector while effectively revitalizing the residential development segment’s existing resources. Especially given that private real estate firms’ financing environment has yet to fundamentally improve, balancing risk control and business innovation will be a key challenge for the new team. Lv Xiaoping’s career trajectory is a microcosm of China’s golden era of real estate, and his departure signals the industry entering a new development cycle.