WENYE GROUP (01802.HK): Jiang Jun Appointed Chairman as Kong Guojing Resigns; Shares Remain Suspended

NewTimeSpace News: On 24 September 2026, Wenye Group Holdings Limited (the "Company") announced that Mr. Kong Guojing resigned as executive Director and chairman of the board with effect from 24 September 2026, as he wishes to devote more time to his personal affairs; he confirmed that he has no disagreement with the board and no matter needs to be brought to the attention of the shareholders or the Stock Exchange. The board also announced that Mr. Jiang Jun has been appointed as an executive Director and the chairman of the board with effect from 24 September 2026.

The announcement disclosed that Mr. Jiang, aged 56, holds a bachelor's degree and has over 30 years of experience in the building decoration industry and engineering project management, having worked in Shenzhen's building decoration sector since 1993, previously serving as project department manager of Shenzhen Zhuoyi and project manager of Zhongshenzhuang, responsible for numerous large-scale industrial plant decoration, curtain wall, transport hub, municipal road, utility tunnel and landscape lighting projects. He holds interests in certain private companies established in China, including a 51% stake in Shenzhen Zhongxin Semiconductor Development Co., Ltd., which are independent of and not in competition with the Group. Mr. Jiang has entered into a service contract with the Company for an initial term of three years from 24 September 2026, with an annual remuneration of RMB 120,000.

The Company stated that following Mr. Jiang's appointment as chairman, Ms. Fan Shuying ceased to be co-chairman of the board but remains an executive Director and chief executive officer, and Mr. Chen Zhouyu ceased to be co-chairman but remains an executive Director; both confirmed no disagreement with the board. Furthermore, at the Company's request, trading in its shares has been suspended on the Stock Exchange since 9:00 a.m. on 5 December 2025 and will remain suspended pending fulfilment of the resumption guidance; shareholders and potential investors are advised to exercise caution.

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