C SUCCESS FIN (03623.HK): Zhang Tiewie resigns as chairman and executive director; deputy chairman Xu Kaiying succeeds as chairman
NewTimeSpace News: On 13 August 2026, China Success Finance Group Holdings Limited (stock code: 03623) announced that Mr. Zhang Tiewie, the chairman and executive director of the Company, has resigned as chairman, executive director and member of the remuneration committee due to personal reasons, with effect from 13 August 2026. Mr. Zhang confirmed that he has no disagreement with the Board and that there are no other matters relating to his resignation that need to be brought to the attention of the Company's security holders or the Stock Exchange.
The Company also announced that, with effect from 13 August 2026, Mr. Xu Kaiying, the deputy chairman and executive director, has succeeded as chairman of the Board and been appointed as a member of the remuneration committee. Mr. Xu, aged 63, was appointed as a non-executive director on 18 October 2013, redesignated as an executive director on 4 July 2016 and redesignated as deputy chairman on 30 June 2026. He invested in the Group in February 2001 as a shareholder of Guangdong Jicheng Financing Guarantee Co., Ltd., a subsidiary of the Group, and currently serves as a director of China Success Finance (Hong Kong) Limited and vice chairman of Guangdong Jicheng Financing Guarantee Co., Ltd.
Mr. Xu is a deputy to the 16th Foshan Municipal People's Congress, a deputy to the 5th Chancheng District People's Congress of Foshan, executive president of the Foshan Private Enterprise Investment Chamber of Commerce and a standing committee member of the 14th executive committee of the Foshan Federation of Industry and Commerce (General Chamber of Commerce); he previously served as a member of the 10th, 11th and 12th Foshan Municipal Committees of the Chinese People's Political Consultative Conference. He obtained a bachelor's degree in financial management from Beijing Economic Technology Research Institute in July 2008 and completed a post-EMBA programme at Peking University, and holds directorships in several companies.
As of the date of this announcement, Mr. Xu is deemed to be interested in 265,652,000 shares of the Company under the Securities and Futures Ordinance: 74,110,000 shares are held through Bliss Success Investments Limited; Mr. Xu, Mr. Zhang and Mr. Pang Haoquan (collectively the concert parties) entered into a concert party agreement on 17 February 2023, under which each concert party is deemed to be interested in all shares held by them in aggregate, amounting to 262,952,000 shares, representing approximately 41.69% of the Company's issued shares; and Mr. Xu is also interested in 900,000 share options, representing approximately 0.14% of the issued share capital. Mr. Xu's service terms continue to be governed by his original letter of appointment dated 1 May 2025, with his director's fee maintained at HKD 360,000 per annum, and he is subject to retirement by rotation and re-election in accordance with the Company's articles of association and the Listing Rules.
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