ST Dehao: Founder Wang Donglei and Chairman Wang Sheng Resign

ST Dehao: Founder Wang Donglei and Chairman Wang Sheng resign

On the evening of May 11, ST Dehao (Dehao Runda) announced that the Board of Directors had recently received resignation letters from Chairman Mr. Wang Sheng and Director Mr. Wang Donglei.

The announcement stated that Mr. Wang Sheng has applied to resign from his positions as Chairman of the Board, Director, Chairman of the Strategy Committee, and Member of the Nomination Committee due to personal reasons. Although the resignations of Mr. Wang Donglei and Mr. Wang Sheng did not reduce the number of board members below the quorum, Mr. Wang Sheng will continue to perform his duties until new directors are elected at the company's shareholders' meeting, citing "the company's current special circumstances." As of the date of the announcement, Mr. Wang Sheng directly holds 34,406,400 shares of the company, which will be managed in accordance with relevant regulations.

According to the announcement, Mr. Wang Donglei resigned because some investors questioned his eligibility to serve as a director. After careful consideration, he applied to resign from his positions as a company director and as a member of the Board's specialized committees.

ST Dehao stated that Mr. Wang Donglei, as the founder of the company, has been dedicated and diligent since its establishment, making significant contributions to its growth from a small and micro enterprise to one of the first listed companies on the SME Board. After the 2008 financial crisis, he devoted himself to exploring the company's industry transformation and upgrading, providing credit enhancement guarantees several times to save the company from the brink of collapse, pouring all his energy and effort into it. The company's board of directors and management express their heartfelt gratitude and high respect for Mr. Wang Donglei's contributions during his tenure, and hope that after resigning from his position as a director, he will continue to care about the company and provide valuable suggestions for its future development.

According to public records, Wang Donglei is the founder of ST Dehao, and he is brothers with Wang Sheng. It is quite rare in the A-share market for two brothers to resign together.

In addition to Wang Donglei and Wang Sheng, Ms. Hao Yachao, an independent director, also resigned. Due to personal reasons, she applied to resign from her positions as an independent director of ST Dehao, Chair of the Budget, Remuneration and Assessment Committee, and member of the Nomination Committee.

On the same day, ST Dehao also released a public statement regarding the nomination by Zhejiang Chengze Technology Co., Ltd. (hereinafter referred to as "Zhejiang Chengze") and Bengbu High-Tech Investment Group Co., Ltd. (hereinafter referred to as "Bengbu High-Tech") of Xie Jie and Wang Shuo as candidates for independent directors of the sixth board of directors of ST Dehao.

According to the announcement released by ST Dehao in recent days, the 221,007,786 shares (accounting for 12.52% of the company's total share capital) held by the company's original controlling shareholder, Wuhu Dehao Investment Co., Ltd. (hereinafter referred to as "Wuhu Dehao Investment"), were publicly auctioned by the court from March 26, 2021 to March 28, 2021. Zhejiang Chengze won the bid for 146,572,839 shares (accounting for 8.31% of the company's total share capital), and Bengbu Xinrui Project Management Co., Ltd. (hereinafter referred to as "Bengbu Xinrui") won the bid for 74,434,947 shares (accounting for 4.21% of the company's total share capital). Therefore, Zhejiang Chengze directly holds 146,572,839 shares of the company and can exercise the voting rights corresponding to 211,782,247 shares entrusted by parties related to the share transfer, accounting for 20.31% of the company's total share capital, becoming the company's largest shareholder.

Wuhu Dehao Investment, Bengbu Xinrui, and Mr. Wang Sheng are parties acting in concert, collectively holding 170,615,461 shares of the Company, representing 9.67% of the Company's total share capital, making them the second-largest shareholder. In addition, "Bengbu Gaoxin" holds 82,872,928 shares of the Company, representing 4.70% of the Company's total share capital.

In addition, ST Dehao has previously seen resignations of senior executives and directors. On April 27, ST Dehao received the resignation report from Jiang Xiaoan, the company's Executive Deputy General Manager and Board Secretary, who applied to resign from the position of Board Secretary due to personal reasons and will continue to serve as Executive Deputy General Manager. On April 12, Dehao Runda received the resignation letter of independent director Tang Qinggui, who will no longer hold any position in the company after the resignation takes effect.

ST Dehao: Plans to sell all NVC International shares held by the company

On May 6, ST Dehao also announced a plan to sell all NVC International shares held by the company. The announcement stated that the subject of this transaction is all NVC International shares held by Hong Kong Dehao, a wholly-owned subsidiary of ST Dehao, totaling 740,346,000 shares.

ST Dehao stated that the sale of equity assets is conducive to optimizing the company's shareholding structure, accelerating capital turnover, and improving asset operational efficiency. This move helps meet the company's future funding needs and aligns with its subsequent strategic operational layout.