CIMC independent director resigns from all board positions

China International Marine Containers (Group) Co., Ltd. announced today that Yang Xiong has resigned from all positions as an independent non-executive director of the eleventh session of the board, effective immediately due to personal reasons. Yang also stepped down as chairman of the Audit Committee and as a member of the Strategic Development, Nomination, Remuneration and Appraisal, and Risk Management Committees. He will not hold any positions within the company or its subsidiaries post-resignation.

Yang's departure results in the number of independent directors falling below one-third of the total board members. It also leaves an absence of an accounting professional among the independent directors, as per Company Law and the company’s Articles of Association. He will continue to serve until a new independent director is approved by shareholders to ensure compliance with regulations.

The company expressed gratitude for Yang's contributions and confirmed that he held no shares in the company as of the announcement date. The board will initiate the process to elect new independent directors and fill the committee vacancies in accordance with applicable laws and the company's Articles of Association.