ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 9, 2021, Huiyi Chen, an independent director, Chair of the Audit
Committee, and member of the Nominating Committee, resigned from the Board of
Directors of China XD Plastics Company Limited (the "Company"). Mr. Chen's
decision to resign was not a result of any disagreement with the Company or its
management.
Effective as of September 9, 2021, the Company's Board of Directors appointed
Feng Li as an independent director to the Board of Directors, as Chair of the
Audit Committee, and as a member of the Nominating Committee. Mr. Li serves as a
deputy director at Plastics Processing R&D Center of Beijing Research Institute
of the Chemical Industry, as well as a member of the Science and Technology
Committee of Beijing Research Institute of the Chemical Industry. He has
substantial experience in technology, production, and business management in the
chemical industry. Under his leadership in various senior roles, including Vice
General Manager, Director, and Chief Engineer responsible for project design,
investment, management and finance, Mr. Li successfully launched and operated
several joint ventures between Beijing Chemical Industry Research Institute
(Group), a subsidiary of China Petroleum & Chemical Corp (Sinopec), the largest
refiner in Asia, and Jiangnan Mould & Plastic Co. Ltd., Shenzhen Petrochemical
and Plastics Co. Ltd., Suzhou Anli Chemical Co., Ltd., and others. Mr. Li also
serves on the committee of Venture Capital for Innovative Small-Medium Size
Enterprises under the Ministry of Science and Technology of the People's
Republic of China. From November 14, 2012 to January 1, 2020, Mr. Li had
previously served as an independent director of the Company. Mr. Li received a
B.S. in Polymer Material from Nanjing Institute of Chemical Technology and a
Master's Degree from Beijing University of Chemical Technology. Mr. Li also
attended the MBA program at China Sinopec Management Institute of Business
Administration and studied as an exchange scholar at the University of
Technology in Sydney, Australia.
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