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An announcement from Dongguang Chemical Ltd. ( (HK:1702) ) is now available.
Dongguang Chemical Limited announced that independent non-executive director Ng Sai Leung has resigned effective 5 May 2026 due to other work commitments, stepping down as chairman of both the audit and corporate governance committees. The company has appointed existing independent non-executive directors Lin Xiuxiang as chairperson of the audit committee and Liu Jincheng as chairman of the corporate governance committee to maintain continuity in key oversight roles.
Following Ng’s departure, the board no longer meets Hong Kong listing requirements for the minimum number of independent non-executive directors and audit committee members, resulting in temporary non-compliance with the Listing Rules. The company is seeking suitable candidates to fill the vacancies and has pledged to restore full compliance within three months, signaling to investors and regulators that it aims to quickly regularize its governance structure.
More about Dongguang Chemical Ltd.
Dongguang Chemical Limited is a Cayman Islands-incorporated company listed in Hong Kong that operates in the chemical industry through its subsidiaries in the PRC. The group is overseen by a board comprising executive and independent non-executive directors, reflecting the governance structure expected of a Hong Kong-listed issuer.
Average Trading Volume: 6,000
Technical Sentiment Signal: Buy
Current Market Cap: HK$1.24B
Learn more about 1702 stock on TipRanks’ Stock Analysis page.