ESTUN AUTOMATION CO., LTD (“ESTUN”) has released details of a comprehensive board reshuffle as the five-year term of its fifth Board approaches expiry. The company will seek shareholder approval at an upcoming extraordinary general meeting (EGM) to constitute a nine-member sixth Board comprising five executive directors, one non-executive director and three independent non-executive directors.

Key proposals: 1. Re-elections • Executive directors: Founder and current chairman Wu Bo (72), vice-chairman and general manager Wu Kan (43) and deputy general manager Zhu Chunhua (56). • Non-executive director: Chen Yinlan (47). • Independent non-executive directors (INEDs): Dr Han Xiaofang (43) and Lin Jinjun (41).

2. New appointments • Executive director: Zhu Zhangxing (49), currently deputy general manager and formerly with Lucent Technologies and China Renaissance Capital. • INED: Xu Guojin (43), director and senior partner of JC Master Law Offices, with existing INED experience at a Shanghai-listed company.

3. Employee representative • Zhou Ailin (53), an executive director and deputy general manager, is proposed for re-election by employee vote held concurrently with the EGM.

4. Retirement • INED Dr Tang Wencheng will step down at the EGM’s conclusion, relinquishing roles on the Nomination, Audit, Strategic and ESG Committees. The Board plans to appoint successors to these committee positions after the EGM.

Board structure and tenure Upon approval, the sixth Board’s term will run for three years starting from the EGM date. The fifth Board will continue its duties until the new Board is formally constituted.

Remuneration • Chairman Wu Bo will forgo director’s fees. • Other directors will receive compensation aligned with their roles and performance; no separate director’s allowance is envisaged. • INEDs will receive an annual remuneration of RMB0.15 million (before tax).

Shareholdings and independence • Wu Bo holds or controls 365.89 million A shares, equal to 37.81% of ESTUN’s issued share capital. • Other proposed directors hold individual stakes ranging from 0.01% to 0.13%. • All INED candidates have affirmed compliance with Hong Kong Listing Rules’ independence criteria and reported no conflicting interests.

Next steps A circular detailing the directorial proposals and the formal EGM notice will be published on the websites of the Hong Kong Stock Exchange and ESTUN (www.estun.com) in due course.