ICBC proposes new executive, re-election of independent directors for 2025

Industrial and Commercial Bank of China (ICBC) will convene its first extraordinary general meeting (EGM) on October 16, 2025, in Beijing. Shareholders will vote on two key proposals: the election of Duan Hongtao as an executive director and the re-election of Chan Tze-ching and Li Kam-hong as independent non-executive directors. The board highlighted that Duan, born in 1969, joined ICBC as deputy secretary of the Party Committee in June 2025, bringing extensive experience from China Construction Bank.

Both independent director candidates, Chan Tze-ching (born 1954) and Li Kam-hong (born 1954), are proposed for re-election. Chan has served as an independent non-executive director since September 2022. The board confirmed that all candidates meet the necessary qualifications and regulatory requirements. All proposals, including those for independent directors, will be subject to cumulative voting.

The meeting will take place at ICBC's head office in Beijing, with online voting available via the Shanghai Stock Exchange's system. H-share shareholders must submit proxy forms by October 13, 2025, and register attendance by October 11, 2025. The board recommends shareholders vote in favor of all resolutions.