HOLLY FUTURES (03678.HK): Proposes Appointment of Liu Xiaoxing as Independent Non-executive Director to Replace Resigning Director

NewTimeSpace News: On 8 September 2026, Holly Futures Co., Ltd. (stock code: 03678) announced that, following nomination by the nomination committee and deliberation by the board, it proposes to appoint Mr. Liu Xiaoxing as an independent non-executive director, succeeding Mr. Zhang Hongfa, whose resignation was announced on 14 July 2026. Mr. Zhang will remain in office and continue to discharge his duties until the extraordinary general meeting passes a resolution to appoint the new independent non-executive director.

According to the announcement, Mr. Liu, aged 56, has over 26 years of experience in education. From September 2000 to December 2010, he served at Guangdong University of Finance and Economics as lecturer, associate professor, professor and deputy dean. Since January 2011, he has been with the School of Economics and Management of Southeast University, where he currently serves as professor, doctoral supervisor and head of the finance department, and concurrently as deputy dean of the Jiangsu Jinke Digital and Fintech Research Institute. Mr. Liu received his bachelor's degree in engineering surveying from Southwest Institute of Technology (now Southwest University of Science and Technology) in July 1994, a master's degree in finance from Northwest A&F University in July 2000, and a doctorate in management science and engineering from Southeast University in August 2005.

Mr. Liu served as an independent director of Jiangsu Expressway Company Limited (SSE: 600377; HKEX: 00177) from October 2018 to June 2024, and of Focus Technology Co., Ltd. (SZSE: 002315) from March 2020 to June 2026. The announcement noted that Mr. Liu's independence is consistent with Rule 3.13 of the Listing Rules, but his qualifications and independence remain subject to review by the Shenzhen Stock Exchange, and the resolution may only be put to the extraordinary general meeting for voting if no objection is raised in the review. Upon approval by shareholders, the appointment will take effect immediately, with the term running until the expiry of the fifth session of the board, and Mr. Liu will receive an annual fee of HKD 120,000 (after tax) under his service contract.

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