The board of directors of Yinsheng Digifavor Company Limited announced that Mr. Huang Junmou ("Mr. Huang") has resigned as the chairman of the Board of the Company and ceased to serve as the chairman of the nomination committee of the Board as he would like to devote more time to his personal commitments with effect from 26 January 2024. In recognition of Mr. Huang ' s invaluable contributions and devotion to the Company during his tenure of office as the Chairman, Mr. Huang has been appointed as the honorary chairman of the Board (the "Honorary Chairman") of the Company with effect from 26 January 2024. Mr. Huang would not receive any additional emoluments for his appointment as the Honorary Chairman. Mr. Huang will remain as an executive Director, a member of the Nomination Committee and a member of the remuneration committee of the Board.
Mr. Huang, aged 57, has been an executive Director of the Company since 18 June 2014. He is a founder of the Group and has served as a director and chairman of the board of Shenzhen Niannianka Network Technology Co. Ltd. since its incorporation. Mr. Huang has over 17 years of experience in information technology related industries, including over 15 years of experience in the mobile top-up service industry. Prior to founding Shenzhen NNK, he was the general manager of Shenzhen Motivity Telecom Co. Ltd., a company primarily engaging in the provision of information technology outsourcing services from June 2004 to May 2006, where he was responsible for business development. Mr. Huang was a shareholder and a director of Shenzhen Honglingyu Industrial Limited Company from May 2001 to May 2004, where he was responsible for strategic planning and management of the company. Prior to that, Mr. Huang was a shareholder and worked as a supervisor for Shenzhen Difulan Industrial Limited Company from May 1998 to May 2001, where he was responsible for administrative and financial management. Mr. Huang was an employee of the Shenzhen Post Office from September 1988 to August 1992, and an employee of Shenzhen Telecommunications Development Company from November 1992 to November 1995. Prior to that, Mr. Huang worked for Shenzhen Fengsheng International Textile and Fashion Company from October 1986 to October 1988. Mr. Huang is a director of Fun Charge Technology Limited. Following the resignation of Mr. Huang as the Chairman, the Board announce that Dr. Zhou Jinhuan an executive Director and the authorised representative of the Company. Dr. Zhou, aged 58, graduated from PLA Information Engineering University (currently known as the PLA Strategic Support Force Information Engineering University in 1987 and obtained a master's degree in economics
from the School of Economics of Beijing University in 1998 and a doctorate degree in economics from Beijing Normal University in 2007. From March 2019 to October 2022, Dr. Zhou was the general manager of the Information Technology Department of China Huarong Asset Management Co. Ltd. and the chairman of Huarong Rongtong (Beijing) Technology Co. Ltd. From November 2016 to November 2018, Dr. Zhou worked as the chairman of the board of directors of JJJ Bill Exchange. From May 2015 to November 2016, Dr. Zhou was the vice-president of Shanghai Huarui Bank From December 1998 to May 2015, Dr. Zhou successively served as the secretary and the deputy director of the secretariat department of the general office of the People's Bank of China the deputy director of the payment and settlement department of the People's Bank of China and the director of the general office of the payment and settlement department of the People's Bank of China. He has over 26 years of experience in the field of banking and finance in the People's Republic of China. From June 2016 to August 2019, Dr. Zhou served as an independent non- executive director of China Smartpay Group Holdings Limited. Dr. Zhou has entered into a service agreement with the Company for a term of three years with effect from 8 November 2022, which may be terminated by either party giving to the other not less than three-months' prior notice in writing. Dr. Zhou would not receive any additional emoluments for his appointment as the Chairman. The emoluments of Dr. Zhou under the service agreement comprising director's fee, salary, other allowances and retirement benefit scheme contributions amount to approximately HKD 2,200,000 per annum, which was determined by the Board on the recommendation of the Remuneration Committee with reference to the responsibilities and duties assumed by him, experience, qualifications, the prevailing market conditions and the performance and profitability of the Group, and are subject to adjustment from time to time. Upon the aforesaid re-designation of Mr. Huang, the composition of the Nomination Committee has been changed as follows with effect from 26 January 2024: Mr. Huang ceased to serve as the chairman of the Nomination Committee but will remain as a member of the Nomination Committee;
Dr. Li Yao ("Dr. Li"), the independent non-executive Director and a member of the Audit Committee and the Nomination Committee, has been appointed as the chairman of the Nomination Committee. The biographical details of Dr. Li are set out in the announcement of the Company dated 30 June 2023.