Shanghai Xiaonan Guo: Zhang Zhenyu resigns from independent non-executive director, chairman of the remuneration committee, and other positions

LightningPacketLoss · 2026-03-06T09:58:33+00:00

Shanghai Xiaonan Guo announces that independent non-executive director Zhang Zhenyu resigned on March 3, 2026, and stepped down from multiple committee positions. After his resignation, the board will have only seven members, which does not meet the requirements of the Hong Kong Stock Exchange Listing Rules. The company will seek suitable candidates within three months to ensure compliance.

LightningPacketLoss

2026-03-06 09:58:33

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On March 3, Shanghai Xiaonan Guo announced that Zhang Zhenyu has submitted his resignation and will resign from his positions as an independent non-executive director, chairman of the Remuneration Committee, and member of the Audit Committee, Nomination Committee, and Risk Management Committee, all effective from March 3, 2026. Zhang Zhenyu stated that he hopes to have more time to focus on other personal matters.

After Zhang Zhenyu’s resignation, the board of directors now consists of seven members, including four executive directors, one non-executive director, and two independent non-executive directors. The company has failed to meet the following requirements of the Hong Kong Stock Exchange Listing Rules:

(1) Rule 3.10(1) of the Listing Rules requires the board to include at least three independent non-executive directors; and

(2) Rule 3.21 of the Listing Rules requires the Audit Committee to be composed of at least three members.

The board will do its best to identify suitable candidates and appoint an independent non-executive director within three months from the date of this announcement to ensure compliance with the Listing Rules. The company will issue a further announcement at the appropriate time.

(Company Announcement)

(Edited by: Wang Can, Lin Chen)

Keywords: Dining

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