Shanghai Hugong Electric: Independent director resigns, new nominee proposed

Shanghai Hugong Electric Group (SSE:603131) announced the resignation of independent director Liu Guanqun, effective upon the election of a successor. Liu Guanqun cited internal compliance requirements related to external part-time jobs within her affiliated unit as the reason for her departure. The board has nominated Ni Chenkai as a new independent director, pending shareholder approval. Ni Chenkai, if elected, will also serve on the audit and nomination committees. The company stated that Liu Guanqun's resignation does not violate board composition requirements and expressed gratitude for her contributions during her tenure. The appointment of Ni Chenkai is subject to review by the Shanghai Stock Exchange.