Personnel changes! Chairman, President, CFO... Major leadership shakeup at two LED companies!

Today we share news of personnel changes at two listed companies.

NationStar Optoelectronics appoints President; 2025 financial results announced

Recently, NationStar Optoelectronics issued several announcements concerning senior executive personnel changes and the 2025 annual report.

The announcement shows that the 15th meeting of the 6th Board of Directors reviewed and approved the "Proposal on Appointing the Company President". Based on the company's operational and management needs, and after comprehensive consideration of the nominee's educational background, professional experience, and professional competence, which were reviewed and approved by the Nomination Committee, the Board of Directors agreed to appoint Mr. Lin Peifeng as the Company President.

In addition, after qualification review by the Nomination Committee of the Company's Board of Directors, the Board of Directors agreed to nominate Mr. Lin Peifeng as a candidate for non-independent director of the 6th Board of Directors of the Company. Meanwhile, upon approval by the Shareholders' Meeting, Mr. Lin Peifeng will serve as the Chairman of the Risk Management Committee and a member of the Strategic Development Committee of the 6th Board of Directors of the Company, with his term starting from the date of approval by the Shareholders' Meeting until the expiration of the term of the 6th Board of Directors.

According to his resume, Mr. Lin Peifeng, male, born in 1977, graduated from South China University of Technology with a major in Electronics and Information Technology. He previously served as Deputy Director and Director of the Party Committee Office (Administrative Office) of Guangdong Rising Holdings Group Co., Ltd., Deputy Secretary of the Party Committee, Director, and Chairman of the Labor Union of Dongjiang Environmental Protection Co., Ltd., and Party Committee Member and Deputy General Manager of Guangdong Electronic Information Industry Group Co., Ltd. He currently serves as Deputy Secretary of the Party Committee and President of NationStar Optoelectronics.

Before the appointment of Lin Peifeng as the new president, the position of president at NationStar Optoelectronics had been vacant for half a year. In September 2025, Liu Zhengdong, a director and president, submitted a written resignation report. Due to job transfer reasons, Liu Zhengdong applied to resign from his positions as director and president of the company. After his resignation, Liu Zhengdong no longer holds any other positions at NationStar Optoelectronics. It is reported that Liu Zhengdong served as the president of NationStar Optoelectronics since July 22, 2024.

Another announcement from NationStar Optoelectronics shows that due to adjustments in work arrangements, Wei Bin, Executive Vice President of NationStar Optoelectronics, recently applied to resign from the position of Executive Vice President. After resigning from this position, Wei Bin will continue to serve as a member of the Party Committee and Chief Economist at NationStar Optoelectronics. It is reported that Wei Bin has served as the Executive Vice President of NationStar Optoelectronics since January 19, 2024.

In addition, the latest financial report shows that in 2025, NationStar Optoelectronics achieved revenue of RMB 3.281 billion, a year-on-year decrease of 5.51%; net profit attributable to shareholders was -RMB 12.9935 million, a year-on-year decrease of 125.22%. This marks the first annual loss since its IPO 16 years ago in 2010.

NationStar Optoelectronics explained in its annual report that in 2025, the industry faced multiple pressures such as rising rigid costs, high raw material prices, and intensified market competition, putting overall development under pressure and causing short-term pressure on the company's core business , with operating performance undergoing phased adjustments.

Looking at quarterly data, the losses of NationStar Optoelectronics were mainly concentrated in the fourth quarter . In the fourth quarter, the company's revenue was RMB 782 million, a year-on-year decrease of 0.37%; net profit attributable to shareholders was -RMB 44.1113 million, a year-on-year decrease of 190.58%.

By product segment, revenue from LED packaging and component products, the core business, was RMB 2.317 billion (accounting for 70.60% of total revenue), a year-on-year decrease of 7.63%; revenue from trading and application products was RMB 541 million (accounting for 16.50% of total revenue), a year-on-year decrease of 8.99%; revenue from epitaxy and chip products also declined by 6.34% year-on-year. Only the integrated circuit packaging and testing business achieved an 8.84% year-on-year growth, but its revenue scale is relatively small.

Meanwhile, NationStar Optoelectronics stated that the company is striving to tap into incremental growth in niche segments, with emerging businesses achieving rapid development , gradually becoming new growth engines for the company. During the reporting period, the company's display control modules , automotive LED, and intelligent sensing businesses expanded steadily, achieving varying degrees of growth.

During the reporting period, the company focused on the synergy between Industry expansion and capital operations to promote the optimization and upgrading of its Industry layout, consolidating the development of its three pillar businesses: high-definition display, optoelectronic sensing, and display control modules, while cultivating and strengthening two emerging businesses: automotive electronics and advanced semiconductor packaging and testing, fully building a "3+2" modern Industry system.

Major Personnel Changes at Glier

On April 9, Glier disclosed its re-election announcement. The "Announcement" shows that Glier's Board of Directors reviewed and approved on March 20: the election of Mr. Chen Kehuang as Chairman of the Company, Ms. Zhu Jing as Vice Chairman of the Company, the appointment of Ms. Zhu Jing as General Manager of the Company, Mr. Hou Guanghui as Deputy General Manager of the Company, Ms. Du Rui as Financial Officer of the Company, and Mr. Xu Dezhi as Secretary of the Board of Directors of the Company , with a term of office of three years, effective from April 8.

Glier also appointed Ms. Zhu Caiyun as Head of the Internal Audit Department, Ms. Shao Zhulin as Representative for Securities Affairs, and elected Mr. Zhu Haijian as Employee Representative Director, with a term of office of three years, effective from April 8.

In addition, the meeting reviewed and approved the relevant proposals, intending to change the company's legal representative from the former Chairman, Mr. Zhu Congli, to the new Chairman, Mr. Chen Kehuang.

Meanwhile, the former Chairman of Glier, Zhu Congli, Vice Chairman Ma Chengxian, Deputy General Manager Sun Jing, Board Secretary Shao Zhulin, Financial Controller Xu Dezhi, Securities Affairs Representative Zhu Yueyue, and Head of Internal Audit Xia Qing have all left their positions due to the change of term, with most continuing to serve in other roles.

According to his resume, Chen Kehuang, male, was born in June 1977. From June 1997 to June 2004, he worked at the Land Management Office of Daxihe Town; from June 2004 to November 2005, he worked at the Land Management Office of Zaoxiang Town; from November 2005 to December 2012, he served as Deputy Director of the Office of Fengyang County Pension Insurance Center and Fengyang County Human Resources and Social Security Bureau; from December 2012 to February 2019, he served as Deputy Director of the Fengyang County Financial Office; from February 2019 to March 2020, he served as Party Group Member and Deputy Director of the Fengyang County Public Resource Trading Center; from October 2015 to April 2020, he served as Chairman (General Manager) of Fengyang County Zhongdu Financing Guarantee Co., Ltd.; from May 2020 to March 2024, he served as Chairman of Fengyang County Zhongdu Financing Guarantee Co., Ltd.; from April 2024 to present, he serves as General Manager of Fengyang Haozhou Investment Group Co., Ltd.

Zhu Jing, female, was born in November 1983. From September 2012 to present, she has served as a Director of Glier International Co., Ltd.; from May 2013 to present, she has served as General Manager of Glier International Co., Ltd.; from September 2019 to present, she has served as a Director of Glier Digital Technology Co., Ltd.; from March 2020 to May 2024, she served as Deputy General Manager of Glier Digital Technology Co., Ltd.; from May 2024 to present, she has served as General Manager of Glier Digital Technology Co., Ltd.; from August 2025 to present, she has served as a Director of Huizhou Glier Technology Co., Ltd.

Du Rui, female, was born in May 1996. From November 2017 to May 2022, she worked as staff at the Non-Tax Revenue Administration Bureau of the Fengyang County Finance Bureau; from June 2022 to February 2024, she served as Deputy Manager of the Finance Department of Zhongda Quartz Development (Anhui) Group Co., Ltd.; from February 2024 to July 2025, she worked as an employee in the Finance Department of Fengyang Mingdu Quartz Industry Investment Co., Ltd.; from August 2025 to March 2026, she served as Deputy Manager of the Finance Department of Fengyang Mingdu Quartz Industry Investment Co., Ltd.

Glier stated that this change of term complies with the relevant provisions of the "Company Law", the "Beijing Stock Exchange Listing Rules", and the "Articles of Association", meets the requirements for the company's normal development, and will not have an adverse impact on the company's production and business activities.

It is worth mentioning that the aforementioned changes in positions at Glier are related to the changes in its controlling shareholder and actual controller.

In January this year, Glier's actual controller and shareholders signed a share transfer and voting rights waiver agreement with Fengyang County Xiaogang Yuecheng Industrial Investment Partnership (Limited Partnership) (hereinafter referred to as "Yuecheng Partnership"), a subsidiary of Xiaogang Industrial Investment. The latter intends to acquire 16.4775 million shares for no more than 476 million yuan. After the completion of the change, Yuecheng Partnership will become the shareholder with the largest number of voting rights and the controlling shareholder, and Glier's actual controller will change from Zhu Congli and Zhao Xiujuan tothe Fengyang County Finance Bureau.

As a listed company on the Beijing Stock Exchange, Glier has continued to make breakthroughs in new energy-related businesses in recent years. Its magnetic devices have successfully entered the core supply chain of energy storage, forming a natural complement to the advanced photovoltaic and new energy storage industries vigorously developed in Chuzhou, Anhui. Therefore, the Fengyang County State-owned Assets Supervision and Administration Commission has approved the acquisition of Glier by enterprises affiliated with Xiaogang Industrial Investment, marking the first case of county-level state-owned capital taking control on the Beijing Stock Exchange.

Data shows that Grier is a national-level high-tech enterprise and a specialized, refined, distinctive, and innovative enterprise. Its business layout aligns highly with the Fengyang industry ecosystem. The company specializes in smart LED lighting and new energy magnetic components, establishing high-end innovation platforms such as Academician Workstations and Postdoctoral Workstations. Core products include magnetic components for photovoltaic inverters, AI computing power supply components, and smart lighting systems, demonstrating leading technical advantages in server power supplies and energy storage converters.

In terms of business layout, Grier achieves deep synergy between its lighting and magnetic component businesses. Lighting products have expanded from single LED luminaires to full-scenario solutions, sold extensively overseas; magnetic components are widely used in high-growth fields such as new energy power generation, 5G communications, and industrial control, injecting continuous momentum into the company's green transformation.

The company introduced third-generation semiconductor materials into LED packaging, reducing production energy consumption by more than 30%; the developed high-frequency low-loss magnetic components increased the conversion efficiency of new energy power generation systems to 98%.