China Literature Limited (CHINA LIT, 00772) disclosed on 17 April 2026 that independent non-executive directors (INEDs) Yu Chor Woon Carol and Liu Junmin will retire by rotation and will not seek re-election at the annual general meeting (AGM) scheduled for 2 June 2026. Both directors will leave the Board after serving for almost nine years. Their committee roles—Audit Committee chairmanship and memberships of the Remuneration and Nomination Committees (Ms Yu) and Nomination Committee membership (Mr Liu)—will conclude at the AGM.
To fill the upcoming vacancies, the Board has nominated:
1. Kong Xiangjun, age 60 • Chair Professor at Shanghai Jiao Tong University KoGuan School of Law and Dean of its Institute of Intellectual Property and Competition Law. • Former deputy chief judge of the First Circuit Court of the Supreme People’s Court. • Recognised among the “50 Most Influential Intellectual Property Persons in the World”.
2. Mak Tze Leung, age 58 • Independent non-executive director of WeChat Pay Hong Kong since October 2023. • Former partner at PricewaterhouseCoopers Hong Kong (1991–2022). • Serves as accounting adviser to China’s Ministry of Finance and holds memberships with ACCA, HKICPA, ICAEW, CGI and HKCGI.
Subject to shareholder approval at the AGM, each nominee will enter into an appointment letter running through 9 May 2029, with customary retirement by rotation. Annual director fees are set at HKD 0.60 million, plus a discretionary bonus aligned with market benchmarks and individual contributions.
Both nominees have confirmed: • No interests in CHINA LIT shares or related securities under Part XV of the Hong Kong SFO. • No relationships with directors, senior management, or substantial shareholders. • Full compliance with independence criteria under Listing Rule 3.13.
The Nomination Committee has endorsed the candidacies, citing their diversified legal and financial expertise as beneficial to CHINA LIT’s strategic development.
A circular containing detailed biographies and AGM resolutions will be dispatched in due course. As of the announcement date, CHINA LIT’s Board comprises two executive directors (Hou Xiaonan, Huang Yan), three non-executive directors (Pu Hai Tao, Cao Huayi, Xie Qinghua) and three INEDs (Yu Chor Woon Carol, Leung Sau Ting Miranda, Liu Junmin).
Comments