LONGFOR GROUP (00960.HK): Ms. Shen Ying resigns as executive director and committee member; Mr. Bao Wei appointed as executive director
NewTimeSpace News: On 28 August 2026, Longfor Group Holdings Limited (stock code: 00960) announced that, with effect from 28 August 2026, Ms. Shen Ying has resigned as an executive director and as a member of the Remuneration Committee and the Environmental, Social and Governance (ESG) Committee due to work arrangements of the Company, and will continue to serve as General Manager of the Group's human resources and Chairperson of the Longfor Public Welfare Foundation; Mr. Bao Wei has been appointed as an executive director of the Company.
According to the announcement, Ms. Shen confirmed that she has no disagreement with the Board and no other matters relating to her resignation to bring to the attention of the Company's shareholders or the Stock Exchange, and the Board expressed sincere gratitude for her valuable efforts and contributions to the Company during her tenure as executive director.
Mr. Bao, aged 45, has over 20 years of experience in commercial real estate management. He graduated from Chongqing University in 2003 with a bachelor's degree in civil engineering, and obtained a master's degree in business administration from Northeastern University in 2009. He joined the Group in 2023 as General Manager of the Commercial Investment business line, and previously served as General Manager of regional commercial real estate at China Resources Land Limited. He also serves as a director of certain subsidiaries of the Company.
Mr. Bao has entered into a director service contract with the Company effective from 28 August 2026, subject to retirement and re-election at the next annual general meeting under the Company's articles of association. He will not receive any director's fee, but will receive an annual basic salary of RMB 7,000,000 plus discretionary bonus, with his remuneration determined by the Board based on the recommendation of the Remuneration Committee and with reference to current market levels. As of the date of the announcement, Mr. Bao personally holds 286,001 shares of the Company and has interests in 1,495,000 granted but unvested shares under the Company's restricted share award scheme.
NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.
