JL MAG Rare-Earth Co., Ltd. (JLMAG) announced the nomination of Mr. Wang Yong, aged 60, as an independent non-executive director (INED) to fill the vacancy arising from the resignation of current INED Mr. Xu Feng. Xu Feng will remain in post until the proposed successor is formally elected.
Subject to shareholder approval at the first extraordinary general meeting (EGM) of 2026—scheduled for 31 July 2026 in Ganzhou—Wang Yong will also serve as chairman of the Board’s Nomination Committee and sit on both the Strategy Committee and the Remuneration and Appraisal Committee. His tenure will run from the date of approval to the end of the fourth Board session, with eligibility for re-election.
The Board intends to set Wang Yong’s annual director’s remuneration at RMB 0.20 million (before tax), reflecting his responsibilities and market benchmarks.
Wang Yong holds a Doctor of Business Administration from Tsinghua University and brings extensive management and academic experience. His previous roles include senior positions at the School of Economics and Management, Tsinghua University (2002–2026) and directorships at Rici Healthcare Holdings, Everbright Securities and Yunnan Copper.
The Board has confirmed Wang Yong meets all independence criteria under Hong Kong Listing Rule 3.13 and has no financial or other connections with JLMAG or its core connected persons.
Shareholders registered by 27 July 2026 are eligible to vote at the EGM. All resolutions will be decided by poll, and no connected persons are required to abstain. The Board recommends shareholders vote in favour of Wang Yong’s appointment, citing his expertise in innovation and enterprise growth management as a complement to Board diversity and capability.
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