China Spacesat announces new chairman, president, and board restructuring

China Spacesat (SSE:600118) held the first meeting of its Tenth Board of Directors on December 25, 2025, where Li Damning was elected chairman. The company also established four specialized committees: strategy, audit, nomination, and compensation & assessment. In parallel, the board appointed Zhu Nan as president, with Song Haifeng, Xiao Tao, and Deng Wenhao as vice presidents. Yu Lihui was appointed chief financial officer and will temporarily fulfill the duties of board secretary.

These changes follow an extraordinary general meeting (EGM) on the same day, where shareholders approved several key resolutions. These included revisions to the company's articles of association, removal of the supervisory board, and updates to the rules of procedure for both the general meeting and the board of directors. Shareholders also re-appointed BDO China Shu Lun Pan Certified Public Accountants LLP as the company's auditor for 2025.

The EGM saw the election of new directors for the Tenth Board, including Li Damning, Lu Minghui, Yao Jun, Kong Yanhu, Jia Shiyu, Zhu Nan, and Wang Wei as non-independent directors. Additionally, Mu Yueying, Li Xiaorong, Du Wei, and Wang Wei were elected as independent directors. The resolutions passed with a significant majority, reflecting shareholder support for the new leadership and governance structure.