Zhuhai Port chairman resigns due to work adjustment

Zhuhai Port Co., Ltd. announced the resignation of its Chairman of the Board, Chen Shaoxing, effective June 4, 2025. According to the announcement, Chen's departure stems from a work adjustment, and he will no longer hold any position within the company. Chen, aged 50, held a doctorate and served as a senior engineer, having been Chairman since September 2024. The company noted that the resignation does not reduce board membership below the legal minimum and will not materially impact operations. While a replacement Chairman has not yet been named, Cathay Haitong Securities Co., Ltd., as trustee for Zhuhai Port’s SZSE:149952 bonds, has issued an interim report. The bonds, with an outstanding principal of CNY 600 million and a coupon of 3.8%, are classified as equity instruments, and the proceeds were used to repay interest-bearing debt and supplement working capital.