Zhongsheng Group clarifies independent director's resignation reason

Zhongsheng Group Holdings Limited has issued a supplemental announcement clarifying the resignation of Mr. Ying as an independent non-executive director and chairman of the audit committee, effective December 19, 2025. The company stated that a primary reason for his resignation is his tenure, having served on the board for over nine years.

This aligns with Rule 3.13A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, which stipulates that an issuer's board should not include an independent non-executive director who has served for nine years or more at the conclusion of the annual general meeting following their nine-year term. Mr. Ying also cited a desire to dedicate more time to other commitments as a factor in his decision to resign.

The supplemental announcement, dated December 23, 2025, reiterates that all information from the initial December 19, 2025 announcement remains unchanged. The company's executive directors include Mr. Huang Yi (chairman), Mr. Li Guoqiang, Mr. Zhang Zhicheng, Mr. Tang Xianfeng, Ms. Yu Ning, and Ms. Zhou Xin. Non-executive directors are Mr. Chan Ho Yin and Mr. Sun Yanjun, while independent non-executive directors are Mr. Chin Siu Wa Alfred, Mr. Li Yanwei, Ms. Cheng Po Chuen, and Mr. Bai Fengjiu.