CHENGDU EXPWAY (01785.HK): Non-executive director Wu Haiyan retires; board gender diversity temporarily falls short of Listing Rules
NewTimeSpace News: On 27 August 2026, Chengdu Expressway Co., Ltd. (stock code: 01785) announced that Ms. Wu Haiyan submitted a written resignation to the Board on 27 August 2026 due to retirement, resigning as a non-executive director of the Company with effect from the same day. Following her resignation, Ms. Wu also ceased to be a member of the Audit and Risk Management Committee, the Nomination Committee and the Remuneration and Appraisal Committee of the Board. Ms. Wu confirmed that she has no disagreement with the Board and no other matters relating to her resignation to notify the Company's shareholders and creditors.
At the same Board meeting, the Board resolved to propose the appointment of Ms. Jiang Na as a non-executive director of the second session of the Board, subject to approval by shareholders at a general meeting. Ms. Jiang, aged 40, currently serves as Deputy Director (institutional reform) of the Organization and Human Resources Department (United Front Work Department of the Party Committee) of Chengdu Communications Investment Group Co., Ltd., and holds a postgraduate degree and a Master of Business Administration from Southwest Jiaotong University, with the qualification of assistant economist.
The announcement also disclosed non-compliance with the Listing Rules: following Ms. Wu's resignation, the Audit and Risk Management Committee consists of only two members, failing to meet the requirement of at least three members under Rule 3.21; the Nomination Committee comprises members of a single gender, failing to comply with Code Provision B.3.5 of the Corporate Governance Code; and the Board no longer has members of different genders, failing to comply with the board gender diversity requirement under Rule 13.92(2). The Company will identify suitable candidates to fill the vacancies as soon as practicable and in any event within three months from the effective date of Ms. Wu's resignation; upon approval of the proposed appointment of Ms. Jiang, the Company will again comply with the relevant gender diversity requirements.
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