China New Higher Education Group Limited announced that Mr. Chen Shuo resigned as the non-executive Director and Mr. Wong Man Chung Francis resigned as an independent non-executive Director, chairman of the audit committee of the Company and a member of the nomination committee of the Company, respectively, with effect on 6 December 2019. Mr. Chen was originally nominated by Advance Vision, which is beneficially owned by Ping An Insurance (Group) Company of China Ltd. before the listing of the Company. Since Advance Vision ceased to be a shareholder of the Company, Mr. Chen resigned as a Director accordingly. Mr. Wong resigned due to his other business commitment. According to him, he maintains his confidence and long-term support for the Company. The Board further announces that with effect from 6 December 2019, Mr. Kwong Wai Sun Wilson, an independent non-executive Director, was appointed as the chairman of the Audit Committee, Dr. Pang Tsz Kit Peter, an independent non-executive Director, was appointed as a member of the Audit Committee, and Mr. Chan Tung Hoi, an independent non-executive Director, was appointed as a member of the Nomination Committee.
China New Higher Education Group Ltd is an investment holding company principally engaged in private higher education business, secondary vocational education business and senior secondary education business through its operating schools. The Company mainly provides higher vocational education services, focusing on cultivating applied technical talents. Its school network covers Yunnan, Guizhou, Hubei, Heilongjiang, Gansu, Guangxi, Henan and other provinces. The Company was included as a constituent stock of the Hang Seng Composite Small Cap Index, Hang Seng Consumer Goods & Services Index and Morgan Stanley Capital International (MSCI) China Small Cap Index in 2017. Included as a constituent stock of Hang Seng Stock Connect Hong Kong Index in Mar 2018. The Company mainly conducts its business in Mainland China.
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