Everbright Environment Chairman Wang Silian Becomes Acting CEO as Luan Zusheng Retires; Board and Governance Adjustments Announced

China Everbright Environment Group Limited (EB ENVIRONMENT, HKEX: 00257) announced a leadership transition effective 17 July 2026. Executive Director and Chief Executive Officer (CEO) Mr. Luan Zusheng resigned due to age-related reasons, relinquishing his roles as Chairman of the Sustainability Committee, member of the Risk Management Committee, and Authorised Representative. The Board confirmed that Mr. Luan has no disagreement with the Board and no other matters require shareholder attention under Listing Rule 13.51(2).

Chairman of the Board Mr. Wang Silian, aged 52, has assumed the duties of Acting CEO. Concurrently, he has been appointed Chairman of the Sustainability Committee and a member of the Risk Management Committee. Mr. Wang receives an annual salary of HK$1.70 million in his capacity as Chairman and is eligible for a discretionary year-end bonus; no additional remuneration is attached to the Acting CEO role. He holds no shares in the company under Part XV of the Securities and Futures Ordinance.

The Board composition now comprises: one Executive Director (Mr. Wang Silian), two Non-executive Directors (Mr. Kang Guoming and Ms. Qu Li), and three Independent Non-executive Directors (Mr. Fan Yan Hok, Philip; Ms. Li Shuk Yin, Edwina; and Mr. Fok Kai Man).

Corporate governance implications: With Mr. Wang serving as both Chairman and Acting CEO, the company departs from Code Provision C.2.1 of the HKEX Corporate Governance Code, which advocates separation of these roles. The Board asserts that written delineation of responsibilities and Mr. Wang’s familiarity with operations will ensure decision-making efficiency, and it will re-evaluate role separation timing.

Other changes: Ms. Liang Yanyu has been re-designated from Alternate Authorised Representative to Authorised Representative under Listing Rule 3.05, following Mr. Luan’s departure.

The Board expressed appreciation for Mr. Luan’s service since June 2021, citing his contributions to the company’s operational management and high-quality development.