COSCO SHIPPING International (Hong Kong) Co., Ltd. announced that, effective 2 October 2026, Mr Cheng Yuk Wo has joined the board as an Independent Non-Executive Director (INED). Concurrently, he becomes Chairman of the Audit Committee and a member of the Remuneration, Nomination and Corporate Governance Committees.
Mr Cheng, aged 65, brings more than three decades of accounting and corporate advisory experience. He currently serves as an INED of five other Hong Kong-listed companies, including Liu Chong Hing Investment and China Renewable Energy Investment. A graduate of the London School of Economics (MSc Economics, Accounting & Finance) and the University of Kent (BA Honours, Accounting), Mr Cheng is a Fellow of professional accounting bodies in the UK, Hong Kong and Canada. His annual director’s fee has been set at HK$0.32 million, and his initial term runs until the conclusion of the 2028 Annual General Meeting, subject to triennial rotation and re-election provisions.
Board committee roles have also been realigned: Non-Executive Director Mr Han Jun becomes Chairman of the Risk Management Committee, replacing Chairman and Managing Director Mr Zhu Changyu, who remains a committee member. Mr Zhu continues to chair the Corporate Governance and Strategic Development Committees and retains memberships in the Remuneration and Nomination Committees.
With Mr Cheng’s appointment, COSCO SHIPPING International now satisfies Hong Kong Listing Rules 3.10, 3.21 and 3.27A, addressing the non-compliance disclosed on 7 July 2026. The board now comprises seven directors: three Executive Directors (Mr Zhu Changyu, Mr Wang Yong), two Non-Executive Directors (Mr Han Jun, Ms Zhang Xueyan) and three Independent Non-Executive Directors (Mr Tsui Yiu Wa, Alec; Mr Jiang, Simon X.; and Mr Cheng Yuk Wo).
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