China Xuyang Group (01907) announced that Mr. Kang Huan (Mr. Kang) resigned as an independent non-executive director (independent non-executive director) of the company on July 15, 2024 due to receiving a bankruptcy order dated June 25, 2024 from the Hong Kong High Court, as well as the chairman of the Remuneration Committee under the Board of Directors, and a member of the Nomination Committee and Audit Committee. Mr Kang further informed the company that it is considering taking all necessary actions to lift its bankruptcy order, including but not limited to exploring possible legal avenues in Hong Kong (such as filing an appeal with the Hong Kong High Court).
To fill the vacancies of the Nomination Committee and Chairman of the Remuneration Committee under the Board of Directors, the Board of Directors resolved to appoint Mr. Wang Yinping as a member of the Nomination Committee; Mr. Wang Yinping, a current member of the Remuneration Committee, as Chairman of the Remuneration Committee; and Mr. Li Qinghua as a member of the Remuneration Committee.