Chaozhou Three-Circle (Group) Co., Ltd. (CCTC) has initiated the formation of its 12th Board of Directors after the expiry of the 11th term. Eight candidates—all incumbent members—have been nominated and will be put to a cumulative vote at an Extraordinary General Meeting (EGM).

The proposed board will comprise three executive directors (Li Gang, Ma Yanhong, Qiu Jihua), two non-executive directors (including founder Zhang Wanzhen), and three independent non-executive directors (INEDs) (Jiang Lijun, Su Yanqi, Wong Sze Wing). If approved, each director will serve a three-year term beginning on the date of the EGM.

Shareholding details disclosed show Zhang Wanzhen controlling 698.95 million A shares, equal to 35.16 % of CCTC’s issued capital, through personal and indirect holdings. Executive directors Li Gang, Ma Yanhong, and Qiu Jihua hold 0.01 % each, with 213,500, 113,500, and 176,000 A shares respectively. No other director nominees reported shareholdings in the company.

INEDs Jiang Lijun, Su Yanqi, and Wong Sze Wing have confirmed compliance with Hong Kong Listing Rules’ independence criteria, stating no financial or other ties to CCTC or its core connected persons.

Compensation will follow the remuneration scheme approved at the 2025 AGM. China-based INEDs will receive RMB0.08 million annually (pre-tax), while Hong Kong-based INEDs will receive HKD0.24 million. Other directors will be remunerated according to their management roles and receive an additional RMB0.08 million position allowance each year. Separate directors’ allowances will not be paid.

The Board approved the nomination slate on 15 July 2026. Until the new board’s inauguration, the 11th Board will continue to discharge its duties. A circular detailing the resolutions and EGM arrangements will be published on the Hong Kong Stock Exchange and company websites, with physical copies dispatched to shareholders in due course.