Prosperous Industrial director resigns amid ICAC probe, breaches listing rules

Prosperous Industrial (Holdings) Limited announced the resignation of Wong Kwun Ho, an independent non-executive director, effective November 18, 2025. His resignation follows his involvement in an investigation by Hong Kong's Independent Commission Against Corruption (ICAC). Mr. Wong has confirmed he has not been charged with any offenses, and the company believes the investigation is unrelated to its operations and will not materially impact its business. Mr. Wong cited a desire to spend more time with family as the reason for his resignation, stating no disagreement with the board.

The resignation of Mr. Wong has led to several non-compliance issues with the listing rules. The company now falls below the minimum required number of independent non-executive directors, and the composition of its audit committee and nomination committee no longer meets the stipulated requirements. The nomination committee, in particular, is no longer chaired by the chairman of the board or an independent non-executive director and lacks the majority of independent non-executive directors.

Prosperous Industrial (Holdings) is actively seeking a suitable candidate to fill these vacancies and restore compliance with listing rules. The company aims to appoint a new director within three months and will issue further announcements as appropriate.