UCD (01599.HK): Xia Xiujiang Elected Chairman; Proposed H-share Full Tradability Scheme Involves Approximately 68.82 Million Shares
NewTimeSpace News: UCD(01599.HK) announced that Executive Director Mr. Xia Xiujiang has been elected as Chairman with effect from 14 July 2026. Meanwhile, the Board proposes the appointment of Mr. Cai Yongli as Non-executive Director and proposes to implement H-share full tradability covering 68,816,000 domestic unlisted shares, representing approximately 5.10% of the total issued share capital.
NewTimeSpace News: UCD (01599.HK) issued an announcement dated 14 July 2026. Executive Director Mr. Xia Xiujiang was elected by the Board as Chairman, and appointed Chairman of the Nomination Committee and Chairman of the Strategy and Investment Committee, effective on the date of the announcement. The appointment of Mr. Xia Xiujiang enables the Company to resume compliance with the requirements on Nomination Committee composition under Listing Rule 3.27A.
Separately, the Board proposes to appoint Mr. Cai Yongli as Non-executive Director. Aged 54, Mr. Cai is a Professor-level Senior Engineer and currently serves as Deputy General Manager of Beijing Zhuzong Group Co., Ltd., with over 20 years of engineering management experience. His appointment is subject to shareholders’ approval at a general meeting.
In relation to the H-share full tradability proposal, the Board approved a proposal to convert 68,816,000 domestic unlisted shares held by the Company’s shareholders into H-shares, accounting for approximately 5.10% of total issued share capital. The relevant shares are held by Beijing Youneng Shangzhuo Venture Capital Fund (22,816,000 shares) and Beijing Jingguofa Equity Investment Fund (46,000,000 shares). The Company has not yet submitted filing application to the CSRC.
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