XINMING CHINA (02699.HK): chairman exits, independent director short
- Chen Chengshou remains a director and senior officer of certain subsidiaries after stepping down as chairman, executive director and chief executive.
- Independent director Chen Hui'en became nomination committee chairman, and the Company must fill the vacancy within three months under Rule 3.11.
NewTimeSpace News: On 22 October 2026, Xinming China Holdings Limited (stock code: 02699) said chairman, executive director and chief executive Chen Chengshou resigned from those posts and as nomination committee chairman for other commitments with effect from 21 October 2026, but remains a director and senior officer at some subsidiaries. Independent director Huang Chunlian resigned the same day from the board and its committees.
Zhang Yu was appointed a non-executive director for three years from the same date at HK$ 10,000 a month. Aged 41, she holds an accounting degree, was financial controller from 2017 to June 2026 and joined Zhejiang Weibao Pharmaceutical as finance head in July 2026. Chen Hui'en became nomination committee chairman. With Huang's exit the Company has fewer than three independent non-executive directors, breaching Rule 3.10(1), and will fill it within three months under Rule 3.11. Both leavers confirmed no disagreement with the Board.
