CIG Shanghai Co., Ltd. announced that Mr. Liu Guisong has tendered his resignation as an Independent Non-executive Director, as well as the chairman of the Remuneration and Evaluation Committee and a member of the Audit Committee of the Board, effective from January 15, 2026, due to his continuous service as an Independent Non-executive Director for a period of six years, in accordance with the relevant provisions of the Administrative Measures for Independent Directors of Listed Companies (2025 Revision). In accordance with the relevant provisions of the Articles of Association of the Company, if the resignation of Mr. Liu were to take immediate effect, it would result in the proportion of Independent Non-executive Directors in the special committees where he served failing to comply with the requirements of the relevant laws and regulations as well as the Articles of Association. Furthermore, it would cause the number of members of the Audit Committee to fall below the statutory minimum.
Therefore, the resignation of Mr. Liu shall take effect upon the Board?s approval of the adjustment of the composition of the special committees. During his tenure as an Independent Non-executive Director, Mr. Liu performed his duties with diligence, dedication, and conscientiousness. By virtue of his profound professional knowledge and extensive practical experience, he provided substantial professional advice in areas including the refinement of the Company?s governance structure and key decision-making, contributing positively to the Company?s compliant operations and sustainable healthy development.
The Company convened the 25th meeting of the 5th session of the Board on January 15, 2026. At this meeting, the proposal for the adjustment of the composition of the special committees was reviewed and approved. Due to the resignation of Mr. Liu, he has ceased to serve as the chairman of the Remuneration and Evaluation Committee and as a member of the Audit Committee.
Ms. Yuen Shuk Yee has now succeeded Mr. Liu as the chairman of the Remuneration and Evaluation Committee, and Mr. Qin Guisen has succeeded Mr. Liu as a member of the Audit Committee. The aforementioned adjustments to the committee members will take effect from the date of approval by the Board at this meeting, January 15, 2026. Mr. Liu has completed the relevant handover of work in accordance with the Company?s resignation management system, ensuring a smooth transition of all responsibilities.
