CHINANEWENERGY (01156.HK): Appoints Mr. Xu Wei as Acting Chief Executive Officer

NewTimeSpace News: On 1 September 2026, China New Energy Limited (carrying on business in Hong Kong as Zhongke Tianyuan New Energy Limited, stock code: 01156) announced the appointment of Mr. Xu Wei as Acting Chief Executive Officer, with effect from 1 September 2026, under a three-year service agreement with a monthly salary of HKD 25,000, plus a highly incentivising year-end performance bonus and share options at the Board's absolute discretion.

Mr. Xu, aged 53, holds a bachelor's degree in engineering from Wuhan University of Technology (formerly Wuhan Automotive Industry University), with extensive experience in the automotive industry, strategic business planning and new energy vehicles, having held management positions at Dongfeng Peugeot Citroen Automobile, Peugeot Citroen (China) and GAC Fiat Automobile. According to the announcement, Mr. Xu will oversee the Group's overall operations and strategic functions, focusing on AI-related computing equipment and energy storage equipment businesses to be operated through newly established subsidiaries, with a view to diversifying the Group's revenue sources.

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