Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Chen Xing Development Holdings Limited ԕጳ೯࢝છٰϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2286)

APPOINTMENT OF

INDEPENDENT NON-EXECUTIVE DIRECTOR AND CHANGE OF COMPOSITION OF AUDIT COMMITTEE,

REMUNERATION COMMITTEE

AND NOMINATION COMMITTEE

The board (the "Board") of directors (the "Directors") of Chen Xing Development Holdings Limited (the "Company") is pleased to announce that with effect from 26 February 2021, (1) Ms. Gao Jianhua ("Ms. Gao") has been appointed as an independent non-executive Director and member of each of the Audit Committee (the "Audit Committee"), Remuneration Committee (the "Remuneration Committee") and Nomination Committee (the "Nomination Committee") of the Company; and (2) Mr. Tian Hua ("Mr. Tian") has been appointed as the chairman of the Audit Committee.

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The Board is pleased to announce that with effect from 26 February 2021, Ms. Gao has been appointed as an independent non-executive Director. The biographical details of Ms. Gao are set out as follows:

Ms. Gao Jianhua ( 高建華 ), aged 65, is a qualified PRC lawyer with more than 39 years of experience in the legal industry. Ms. Gao has been a practising lawyer at Shanxi Fenghui Law Firm* ( 山西豐匯律師事務所 ) since 1994, an arbitrator of Jinzhong Arbitration Committee ( 晉 中仲裁委員會 ) since 2013 and the honorary president of Jinzhong Lawyer Association ( 晉中市 律師協會 ) since 2015. In 2003, Ms. Gao was awarded as "Advanced Lawyer of Shanxi Province" ( 山西省先進律師 ) by the Department of Justice of Shanxi Province and the Law Association of Shanxi Province. From 2005 to 2015, Ms. Gao was elected as the president of Jinzhong Lawyer Association. In 2013, Ms. Gao was recognised by the Justice Bureau of Jinzhong ( 晉中市司法局 ) and Jinzhong Lawyer Association as one of the ten outstanding lawyers of Jinzhong City ( 晉中 市十大傑出律師 ) in the PRC. Ms. Gao obtained her bachelor's degree in Engineering (IndustrialAutomatic Control) from Taiyuan University of Technology in 1982 and a bachelor's degree in Law from Shanxi University in 1988.

Ms. Gao has entered into an appointment letter with the Company for a term of three years with effect from 26 February 2021 subject to termination by either party giving not less than three months' notice. Ms. Gao shall hold office only until the first general meeting of the Company after her appointment and shall then be eligible for re-election at that meeting, and thereafter subject to retirement by rotation at least once every three years at each annual general meeting, in accordance with the articles of association of the Company. Pursuant to her appointment letter, the annual remuneration of Ms. Gao as an independent non-executive Director is HK$50,000. Such remuneration is determined by the Board by reference to her experience, duties and responsibilities, the prevailing market conditions and the recommendation from the Remuneration Committee.

Save as disclosed above, as at the date of this announcement, Ms. Gao (i) has not held any directorships in other listed public companies in the last three years; (ii) does not have any relationship with any director, senior management or substantial shareholder (as defined in the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules")) or controlling shareholder (as defined in the Listing Rules) of the Company; and (iii) does not have any interests in the securities of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Ms. Gao has confirmed that she has met the independence criteria as set out in Rule 3.13 of the Listing Rules. Save as disclosed above, there is no other information which is discloseable pursuant to any of the requirements under Rules 13.51(2)(h) to 13.51(2)(v) of the Listing Rules, and there are no other matters relating to the appointment of Ms. Gao that need to be brought to the attention of the shareholders of the Company.

The Board would like to take this opportunity to welcome Ms. Gao for joining as a member of the Board.

CHANGE OF COMPOSITION OF AUDIT COMMITTEE, REMUNERATION COMMITTEE AND NOMINATION COMMITTEE

As a result of the appointment of Ms. Gao as independent non-executive Director, with effect from the date of this announcement, Ms. Gao has been appointed as member of each of the Audit Committee, Remuneration Committee and Nomination Committee.

Further, Mr. Tian has been appointed as the chairman of the Audit Committee.

COMPLIANCE WITH THE LISTING RULES

Following the appointment of Ms. Gao as an independent non-executive Director and member of each of the Audit Committee, Remuneration Committee and Nomination Committee, the Company shall comply with the requirement of Rules 3.10, 3.10A, 3.21 and 3.25 of the Listing Rules and code provision A.5.1 of the Corporate Governance Code in Appendix 14 of the Listing Rules.

By Order of the Board

Chen Xing Development Holdings Limited

Bai Xuankui

Chairman

Shanxi, PRC, 26 February 2021

* for identification purpose only

As at the date of this announcement, the executive directors are Mr. Bai Xuankui, Mr. Bai Wukui, Mr. Bai Guohua and Mr. Dong Shiguang and the independent non-executive directors are Mr. Tian Hua, Mr. Qiu Yongqing and Ms. Gao Jianhua.

Attachments

  • Original document
  • Permalink

Disclaimer

Chen Xing Development Holdings Ltd. published this content on 26 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 February 2021 10:38:02 UTC.