Appointment of Independent Non-executive Director: The Board is pleased to announced the appointment of Mr. LIAO Xiaoxin ("Mr. LIAO") as an independent non-executive Director and a member of each of the audit committee, remuneration committee and nomination committee of the Company with effect from 28 October 2022. Biographical details of Mr. LIAO are set out as follows: Mr. LIAO Xiaoxin, aged 42, is a partner in the Hong Kong office of Zhong Lun Law Firm LLP, a full service business law firm headquartered in the PRC. Mr. LIAO has been practicing as a lawyer for over 20 years and is currently admitted to practice in Hong Kong, England and Wales and the PRC.
Prior to joining Zhong Lun law Firm LLP, Mr. LIAO has also practiced in other law firms in Hong Kong, London and Shenzhen. Mr. LIAO has extensive experiences on Hong Kong capital markets matters such as initial public offerings, bond offerings, public takeovers, privatizations and general compliance for listed companies. He also advises clients on cross-border mergers and acquisitions and private equity investments.
Mr. LIAO obtained a bachelor of Laws degree from Guangdong University of Foreign Studies in the PRC in June 2001, a master of Laws from King's College London in the United Kingdom (the "U.K.") in November 2007, a graduate diploma in law from The University of Law in the U.K. in August 2008 and subsequently completed the Legal Practice Course at BPP University Law School in the U.K. in May 2010. Mr. LIAO was admitted as a practicing lawyer in the PRC in July 2002, a solicitor in England and Wales in October 2012 and a solicitor in Hong Kong in May 2018. Mr. LIAO has entered into a letter of appointment with the Company for a term of three years with effect from 28 October 2022.
Mr. LIAO is entitled to a director' s fee of RMB 300,000 per annum, which was determined by the Board with reference to the recommendation of the remuneration committee of the Company, market terms, the Company's remuneration policy and the qualifications and the scope of responsibilities of Mr. LIAO. Mr. LIAO will hold office only until the next following general meeting of the Company and shall be eligible for re-election at that meeting. He is subject to retirement by rotation and re-election at the annual general meetings of the Company at least once every three years in accordance with the articles of association of the Company and the Listing Rules.
Mr. LIAO has not held any directorship at any listed companies in the past three years. Save as disclosed above, Mr. LIAO does not have any other relationship with any Directors, senior management, substantial shareholders or controlling shareholders of the Company (as defined in the Listing Rules) or hold any other position with the Company or any member of the Group. As at the date of this announcement, Mr. LIAO does not have any interests in the shares of the Company which are required to be disclosed under Part XV of the SFO.