The board of directors of IDG Energy Investment Limited announced that Liu Zhihai ceased to act as the president of the company with effect from December 1, 2021 in order to focus on his other duties in the Company. Liu remains as an executive director. The board also announced that Dr. Liu Erzhuang has been appointed as the president of the company with effect from December 1, 2021. Dr. Liu, who joined the company in June 2021 as Executive Vice President, has extensive experience in the semiconductor industry. From 2012 to 2014, he served as the general manager of Cree in China, and was responsible for sales in mainland China and Hong Kong and the factory base in Huizhou. In 2014, He again joined Lam Research Corporation as corporate vice president and general manager of China. In 2020, he joined Tsinghua Unigroup as executive vice president.