LENS announced on December 1 that its independent director, Xie Zhiming, has unfortunately passed away due to illness.
Xie Zhiming, born in 1972, held a Ph.D. in accounting and was a professor, doctoral supervisor, and a certified public accountant in China. Since September 2003, he served as an associate professor, MBA program director, and later a professor at the School of Economics and Management at Changsha University of Science & Technology. From 2015 to 2023, he also acted as a management accounting consultant for the Hunan Provincial Department of Finance, an advisory expert for the Hunan Provincial People's Congress Finance and Economics Committee, a project evaluation expert for the Hunan Provincial Department of Science and Technology, and a reviewer for the National Social Science Fund. In April 2024, he became an independent director of Zhuzhou CRRC Times Electric Co., Ltd. and was nominated as a candidate for independent director of LENS's fifth board of directors in December of the same year.
LENS expressed that Xie Zhiming, during his tenure as an independent director, chairman of the audit committee, and chairman of the remuneration and appraisal committee, diligently fulfilled his duties and provided professional advice and recommendations for the company's decision-making processes. The company and its board extended their sincere gratitude for his contributions.
Following Xie Zhiming's passing, the current board members decreased from seven to six (three independent directors and three non-independent directors), which meets the statutory minimum requirement but falls short of the number stipulated in the company's articles of association. LENS stated it would promptly follow relevant procedures to elect a new independent director and fulfill disclosure obligations.
Until a new independent director is elected, the responsibilities will be temporarily assumed by the current independent directors Wan Wei, Liu Yue, and Tian Hong. The company confirmed that its production and operations remain unaffected. Additionally, Xie Zhiming did not hold any shares in the company.
In the first three quarters of this year, LENS reported revenue of 53.663 billion yuan, a 16% year-on-year increase, and a net profit attributable to shareholders of 2.843 billion yuan, up 20% year-on-year. As of December 1, LENS shares closed at 28.66 yuan per share, with a market capitalization of 149.7 billion yuan.
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