Red Star Macalline appoints new chairman amid leadership changes

Red Star Macalline Group Corp (SSE:601828) announced significant changes to its board leadership today. Zheng Yongda has resigned from his position as Chairman of the Board due to work reasons, but will remain as a non-executive director and retain positions on key board committees. Consequently, the board has elected Li Yupeng, formerly a non-executive director, as the new Chairman, effective March 21, 2025. Li will also assume the role of Chairman of the Strategy and Investment Committee.