Baiwang Co., Ltd. (06657): Proposed appointment of Shi Nan and Wang Qiangyu as executive directors

Zhitong Finance App News, Baiwang Co., Ltd. (06657) issued an announcement. Ms. Chen Jie intends to resign as the company's executive director, chairman of the board of directors, authorized representative of the company and chairman of the board nomination committee under section 3.05 of the Hong Kong Stock Exchange Limited securities listing rules due to work schedule adjustments; Mr. Zou Yan plans to resign as an executive director of the company and a member of the board remuneration and assessment committee due to work schedule adjustments. The resignation will take effect from the date the relevant replacement directors are approved and appointed by the company's shareholders at the extraordinary shareholders' meeting to be held by the company.

After considering the recommendations of the Board Nomination Committee, the board of directors has resolved to recommend the appointment of Mr. Shi Nan and Mr. Wang Qiangyu as the company's executive directors. The proposed appointment of Mr. Shi and Mr. Wang is subject to approval by shareholders by means of an ordinary resolution at the Extraordinary General Meeting of Shareholders, and will take effect from the date of approval by the Extraordinary General Meeting of Shareholders.

Ms. Chen has resigned as CEO and general manager of the company due to work schedule adjustments, effective November 11, 2026. Ms. Chen will continue to serve as the company's executive director, chairman of the board of directors, authorized representative of the company under section 3.05 of the listing rules, and chairman of the board nomination committee until the date of her intention to resign from such positions.

After considering the recommendations of the Board Nomination Committee, the board of directors has decided to appoint Mr. Wang as CEO and general manager of the company, effective from November 11, 2026, and the term of office will end on the date the term of the current board expires. As of the same day, Mr. Wang ceased to be the company's co-general manager.

Ms. Yu Jiapeng has resigned as the company's chief financial officer due to her personal career plan, effective November 9, 2026.

After considering the recommendations of the Board Nomination Committee, the board of directors has decided to appoint Ms. Zhu Liping, the company's executive director, as the company's chief financial officer. The term of office will expire on November 11, 2026, and the term of office will end on the date the term of the current board of directors expires.

Dr. Wu Changhai plans to resign as an independent non-executive director of the company and chairman of the Board's Remuneration and Assessment Committee due to other personal and business matters. The resignation will take effect from the date the replacement of the independent non-executive director is approved and appointed by shareholders at the Extraordinary General Meeting of Shareholders.

After considering the recommendations of the Board Nomination Committee, the board of directors has resolved to recommend the appointment of Mr. Zhou Bin as an independent non-executive director of the company. The proposed appointment of Mr. Zhou is subject to approval by shareholders by means of an ordinary resolution at the Extraordinary General Meeting of Shareholders, and will take effect from the date of approval by the Extraordinary General Meeting of Shareholders.

Mr. Luo Wenhong plans to resign as the company's supervisor due to his personal career plan. The resignation will take effect on the date the replacement supervisor is approved and appointed by the shareholders at the Extraordinary General Meeting of Shareholders.

The board of supervisors has decided to recommend the appointment of Ms. Ni Juanmei as the company's supervisor. The proposed appointment of Ms. Ni is subject to approval by shareholders by means of an ordinary resolution at the Extraordinary General Meeting of Shareholders, and will take effect from the date of approval by the Extraordinary General Meeting of Shareholders.