Novautek Technologies Group Limited (Stock Code: 519) has announced changes to its board composition and leadership, effective 3 March 2026.

According to the announcement, Executive Director Mr. Wu Tao will step down on 3 March 2026 to focus on the operation and development of the Group’s subsidiaries. He confirmed no disagreements with the board and no matters needing to be brought to shareholder attention.

Additionally, Chairman and Executive Director Mr. Wu Zhanming will resign as Chief Executive Officer on 3 March 2026 to concentrate on the Group’s development strategies. He will remain Chairman and an Executive Director. He likewise confirmed no disagreements or issues requiring disclosure.

The announcement further states that Mr. Wang Chunsheng will be appointed as an Executive Director and the new Chief Executive Officer on 3 March 2026. Mr. Wang, aged 39, currently serves as the chief executive officer of the Group’s subsidiary Novautek Autonomous Driving. He holds a master’s degree from Jilin University, focusing on automotive intelligence and new energy vehicles. His prior experience includes roles at FAW-Volkswagen Automotive Co., Ltd., UISEE Technologies (Shenzhen) Co., Ltd., and Baidu (Hong Kong) Limited, with over a decade of involvement in product development, project management, and commercialization in automotive intelligence and AI robotics.

Mr. Wang's service agreement runs for an initial term of two years starting 3 March 2026. It includes an annual director fee of HK$0.24 million, an annual salary package of HK$1.52 million, and a discretionary bonus based on performance. He holds 0.18 million shares of Novautek Technologies Group Limited as of the announcement date.

With the appointment of Mr. Wang, the roles of Chairman and CEO will be separated from 3 March 2026, aligning with corporate governance standards. The board expressed appreciation for the contributions of the departing executives and extended a welcome to Mr. Wang in his new role.