Shanghai Xiaonan Guo Independent Non-Executive Director Zhang Zhenyu Resigns

2026-03-05 23:21:02

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Viewpoint.com News: On March 3rd, Shanghai Xiaonan Guo Holdings Limited announced that Zhang Zhenyu has resigned from his positions as an independent non-executive director, chairman of the remuneration committee, and member of the audit, nomination, and risk management committees. The resignation is effective from March 3, 2026.

According to the announcement, Zhang Zhenyu resigned to focus on personal matters and has no disagreements with the board. The board thanks him for his contributions during his tenure.

After his resignation, the Shanghai Xiaonan Guo board consists of 7 directors, of which only 2 are independent non-executive directors, which does not meet the Hong Kong Stock Exchange listing rules requiring at least 3 independent non-executive directors and at least 3 members on the audit committee.

The company stated that it will seek suitable candidates to appoint as independent non-executive directors within 3 months from the date of the announcement, with further details to be announced later.

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