China Saftower replaces independent director; Hu Chengbing joins Board as Audit Committee Chair

Bulletin Express03-30

China Saftower International Holding Group Limited announced two Board changes effective 27 March 2026. Independent non-executive director (INED) Tsang Hing Bun has resigned, citing HK$0.05 million in unpaid director fees accrued since his appointment on 10 November 2025. The Board expressed gratitude for his service and noted no other disagreements or issues requiring shareholder attention.

Concurrently, Hu Chengbing, a 44-year-old certified public accountant with approximately 21 years of audit and advisory experience, has been appointed as an INED. Hu will chair the Audit Committee and join both the Nomination and Remuneration Committees. He currently serves as Chief Partner of Chengdu Tianyixin Certified Public Accountants and holds external expert roles with several Sichuan provincial agencies. Under his appointment letter, Hu will receive an annual director fee of RMB0.05 million.

The company confirmed that Hu holds no shares in China Saftower, maintains no relationships with substantial shareholders or management, and has not served as a director of any other listed company in the past three years.

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