DL Holdings faces listing rule breach after director quits

DL Holdings Group announced the resignation of independent non-executive director Li Xiaoxiao, effective July 23, 2025, citing other business commitments.

The departure leaves the board with ten members: four executive directors, three non-executive directors, and three independent non-executive directors. This composition violates listing rules requiring independent directors to constitute at least one-third of the board.

The company said it will appoint a new independent director within three months to restore compliance.