5100 Xizang Glacier Company Limited (branded as 5100 XIZANG) has appointed Independent Non-Executive Director Dr. Zhang Chunlong as Chairman of its Nomination Committee, effective 25 September 2026. Dr. Zhang already serves as Chairman of the Remuneration Committee and sits on both the Audit and Nomination Committees.
The appointment realigns the company with Hong Kong Listing Rule 3.27A, which mandates that a nomination committee be chaired by either the board chairman or an independent non-executive director.
Despite this milestone, 5100 XIZANG remains out of compliance with Listing Rules 3.10(2) and 3.21 regarding the minimum number of independent non-executive directors and audit committee composition. These deficiencies arose after an INED retired on 26 June 2026. The firm has until 26 September 2026—the stipulated three-month grace period—to rectify the shortfall.
Given ongoing efforts to identify a suitable candidate for the board and audit committee, the company has applied to the Stock Exchange for a waiver extending the grace period. Approval from the exchange is currently pending.
The board, chaired by Non-Executive Director Mr. Chen Di, will issue further announcements in accordance with Listing Rules as developments occur.
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