Global Corn Group CEO resigns amidst operational suspension

Mr. Wang Hui has resigned as chief executive officer of Global Corn Group Limited, effective November 20, 2025. His departure is attributed to a desire to concentrate on other business and personal affairs. Mr. Wang was responsible for the group's Jinzhou production site, which currently remains suspended as restructuring negotiations for loans owed by Jinzhou Yuancheng Bio-chem Technology Co., Ltd. are ongoing.

Given the operational suspension at the Jinzhou site and ongoing cost control initiatives, the board has decided not to appoint a new chief executive immediately. Instead, the company will defer the search until Jinzhou operations resume or a clear business requirement is identified. Mr. Wang Tieguang, an executive director and joint chairman, will continue to oversee the Jinzhou restructuring and future development, while Mr. Kong Zhanpeng will manage the Shanghai production site.

The board expressed sincere appreciation to Mr. Wang for his dedication and contributions. The current board comprises three executive directors, one non-executive director, and three independent non-executive directors.