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HUAZHONG IN-VEHICLE HOLDINGS COMPANY LIMITED 華 眾 車 載 控 股 有 限 公 司(Incorporated in the Cayman Islands with limited liability)
The board (the "Board") of directors (the "Directors") of Huazhong In-Vehicle Holdings Company Limited (the "Company") hereby announces that with effect from 1 September 2017, Mr. Liu Genyu ("Mr. Liu") will be re-designated from the position of an executive Director to a non-executive Director.
The biographical details of Mr. Liu are set out as follows:
Mr. Liu, aged 53, was appointed as an executive Director and the chief executive officer of the Company (the "CEO") on 4 January 2016. He was an executive director, chief executive officer, and a member of the executive committee of China Power New Energy Development Company Limited (a company listed on the Main Board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange"), stock code: 735) for the period from 2007 to 2012. Mr. Liu is a senior engineer. He graduated from Tsinghua University with a degree of Executive Master of Business and Administration (EMBA). Mr. Liu had also served in positions including the vice president of Chongqing Jiulong Electric Power Co., Ltd. and a lecturer in Harbin Power Vocational Technology College. He is currently an executive director and the vice chairman of China Nuclear Energy Technology Corporation Limited (a company listed on the Stock Exchange, stock code: 611).
Mr. Liu has entered into a letter of appointment with the Company for a term of one year commencing from 1 September 2017, subject to retirement by rotation and re-election at the general meetings of the Company pursuant to which and the articles of association of the Company (the "Articles"). Under the letter of appointment, Mr. Liu will be entitled to a Director's fee of HKD20,000 per month, which has been determined by the Board with reference to his duties and responsibilities and the prevailing market conditions.
As at the date of the announcement, Mr. Liu does not have any interests or short positions in the shares or underlying shares in the Company (the "Shares") or its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong) (the "SFO").
Save as disclosed above, as at the date of this announcement, Mr. Liu (i) has not held any other directorships in any public companies the securities of which are listed on any securities market in Hong Kong or overseas in the past three years; (ii) does not hold any other positions in the Company and its subsidiaries; and (iii) does not have any relationship with any Directors, senior management, substantial shareholders of the Company (the "Shareholders") or controlling Shareholders.
Save as disclosed above, there is no other information related to the re- designation of Mr. Liu as a non-executive Director that needs to be disclosed pursuant to the requirements of Rule 13.51(2) of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules") nor are there other matters that need to be brought to the attention of the Shareholders.
APPOINTMENT OF EXECUTIVE DIRECTOR AND CHANGE OF CHIEF EXECUTIVE OFFICERThe Board also announces that, with effect from 1 September 2017, Mr. Liu shall resign as the CEO due to other business commitments.
Mr. Liu has confirmed that he has no disagreements with the Board and there are no other matters relating to his resignation as the CEO that need to be brought to the attention of the Shareholders.
The Board further announces that, Mr. Li Xuejun ("Mr. Li"), will be appointed as an executive Director and the CEO with effect from 1 September 2017.
The biographical details of Mr. Li are set out as follows:
Mr. Li, aged 52, has over 24 years of experience in the car industry in PRC. Mr. Li obtained his bachelor's degree in Industry Automation from Shandong University of Technology (山東工業大學) in July 1986 and his master's degree in Economics from Renmin University of China (中國人民大學) in July 1993. Mr. Li had been a teacher in Shandong Taian Machinery and Electronic Industry Training Centre* (山東泰安機械電子工業局培訓中心), the managing director of Beijing Tiancifu Bioengineering Co., Ltd.* (北京天賜福生物工程有限公司), a vice general manager of Shenyang Jinbei Coach Manufacturing Co., Ltd.* (瀋陽金杯客車有限公司), the technical representative in Shandong Juli Group Co., Ltd.* (山東巨力股份有限公司), a vice president and a member of the party committee in BAIC Motor Corporation Ltd.* (北京汽車股份有限公司), the secretary of the party committee in Beijing Hainachuan Automotive Parts Co., Ltd.* ( 北京海納川汽車部件股份有限公司), and the chairman of supervisory committee in Inalfa Roof Systems Group B.V.
In addition, Mr. Li had been appointed as a director of a number of listed companies, such as Beiqi Foton Motor Co., Ltd.* (北汽福田汽車股份有限公 司), a company listed on the Shanghai Stock Exchange (stock code: 600166) (from June 2013 to November 2016), Xiezhong International Holdings Limited, a company listed on the Stock Exchange (stock code: 3663) (from August 2014 to August 2016) and Shandong Binzhou Bohai Piston Co., Ltd.* (山東濱州渤海 活塞股份有限公司), a company listed on the Shanghai Stock Exchange (stock code: 600960) (from November 2015 to December 2016).
Mr. Li will enter into a service agreement with the Company, commencing from
1 September 2017, which will continue thereafter until terminated by either party by giving other party not less than three months' written notice. Mr. Li is subject to retirement by rotation and re-election at the general meetings of the Company pursuant to which and the Articles. Mr. Li will be entitled to an annual salary of RMB500,000, which has been determined by the Board with reference to his duties and responsibilities and the prevailing market conditions.
As at the date of the announcement, Mr. Li does not have any interests or short positions in the Shares or underlying Shares or shares in its associated corporations within the meaning of the Part XV of the SFO.
* For identification purpose only
Save as disclosed above, as at the date of this announcement, Mr. Li (i) has not held any other directorships in any public companies the securities of which are listed on any securities market in Hong Kong or overseas in the past three years; (ii) does not hold any other positions in the Company and its subsidiaries; and (iii) does not have any relationship with any Directors, senior management, substantial Shareholders or controlling Shareholders.
Save as disclosed above, there is no other information related to the appointment of Mr. Li as the executive Director and the CEO that needs to be disclosed pursuant to the requirements of Rule 13.51(2) of the Listing Rules nor are there other matters that need to be brought to the attention of the Shareholders.
The Board would like to welcome Mr. Liu for serving his new position in the Company and Mr. Li for joining the Board.
By order of the Board
Huazhong In-Vehicle Holdings Company Limited Zhou MinfengChairman
Hong Kong, 21 August 2017
As at the date of this announcement, the executive Directors are Mr. Zhou Minfeng, Mr. Liu Gengyu and Mr. Chang Jingzhou; the non-executive Directors are Ms. Lai Cairong, Mr. Wang Yuming, Mr. He Jifeng and Mr. Guan Xin; and the independent non- executive Directors are Mr. Wong Luen Cheung Andrew, Mr. Yu Shuli, Mr. Tian Yushi and Mr. Xu Jiali.