Cnlight: Chairman Shi Xinhua Resigns

On September 9, Guangdong Cnlight Optoelectronics Technology Co., Ltd. (Cnlight) announced the resignation of its chairman and the election of a new chairman.

The announcement stated that the Board of Directors recently received a written resignation letter from Shi Xinhua. Due to personal reasons, Shi Xinhua has decided to resign from his positions as Director of the Company and related roles (Chairman of the Board, Member of the Strategic Committee, Member of the Nomination Committee), and will no longer hold any position within the Company.

The Company held the 50th meeting of the 5th Board of Directors on September 9, 2020, and elected Mr. Xian Shuzhong as the Chairman of the 5th Board of Directors. In accordance with the Articles of Association, the Chairman serves as the legal representative of the Company. The Company will complete the registration change of the legal representative with the Administration for Industry and Commerce as soon as possible.

Meanwhile, Xuelait stated that on April 14, 2020, the Company announced the "Plan for the 2020 Non-public Issuance of A-shares," and Shi Xinhua intends to subscribe for all shares issued in this offering. Based on the issuance of 229,233,910 shares, upon completion of the issuance, Shi Xinhua will directly hold 23.08% of the Company's shares, becoming the largest shareholder and the new actual controller. As of the date of this announcement, the Company has not yet submitted the administrative licensing application materials for this non-public issuance to the China Securities Regulatory Commission, nor has it received any information from Shi Xinhua regarding changes to the subscription matters of this non-public issuance.

It is worth noting that Shi Xinhua has been in his official position for less than four months. In May this year, after Chai Guosheng resigned from his positions as director, chairman of the board, chairman of the Strategy Committee, and member of the Nomination Committee of the company, the Board of Directors agreed to elect Shi Xinhua as the chairman of the fifth Board of Directors, chairman of the Strategy Committee, and member of the Nomination Committee. The company's legal representative was also changed from Chai Guosheng to Shi Xinhua.

Xian Shuzhong's Resume

Xian Shuzhong, a Chinese citizen, male, born in 1962. The "High-power energy saving lamp project" he participated in developing passed the appraisal by the Ministry of Light Industry. The "Compact energy saving lamp" he participated in developing was awarded the Third Prize for New Products in Yunnan Province.

The light source industry has 27 years of professional experience. From September 1981 to January 1993, he served as Production Line Leader at the Gejiu Light Bulb Factory in Yunnan Province and Chairman of the Trade Union at the Fluorescent Lamp Branch Factory; from February 1993 to October 2004, he held positions including Sales Manager, Assistant to the General Manager, Head of Planning, and Deputy General Manager of Guangdong Huaxing. From October 2004 to January 2018, he served as a Director and Board Secretary of the company. He currently serves as a Director of the company.