Yaocai Securities Finance (01428) proposes to appoint Chen Zhihong as an independent non-executive director

According to the Zhitong Finance App, Yaocai Securities Finance (01428) issued an announcement that Mr. Lin Yizhong (Mr. Lin), an independent non-executive director, must retire on a rotational basis at the recent annual general meeting of shareholders. Mr. Lin informed the board of directors of Yaocai Securities Finance Group Co., Ltd. (the Company, together with its subsidiaries, the “Group”) that he decided not to be re-elected at the Annual General Meeting of Shareholders to spend more time dealing with other matters and responsibilities. Mr. Lin will retire from the board of directors after the Annual General Meeting of Shareholders.

After Mr. Lin retired, the Company proposed to appoint Mr. Chen Zhihong (Mr. Chen) as an independent non-executive director. It is proposed that the appointment of Mr. Chen be approved by shareholders in the form of an ordinary resolution at the annual shareholders' meeting, and once approved, it will take effect from the end of the annual shareholders' meeting.