Ming Yuan Cloud Group Holdings Limited (Ming Yuan Cloud) announced two major corporate actions on 29 May 2026.
CFO transition • Chief Financial Officer Ms. Xiao Zhimiao will step down on 29 May 2026 for personal reasons. The Board confirmed no disagreements or issues requiring shareholder attention. • Succeeding her is Ms. Huang Bingqi, 43, who joined the Group in January 2026 as head of finance for the Overseas Business Department. Huang brings 16 years of experience spanning Sequoia Capital China, Huawei Technologies, Royal Golden Eagle/Guangdong Energy Group JV, and TONCAN Enterprise Group. She holds an accounting degree from Hunan University of Science and Technology and an MBA from Malaysia University of Science and Technology.
Share Award Scheme grant • On the same date, the Board granted 16.53 million award shares to 109 employees under the company’s Share Award Scheme, representing 0.86% of Ming Yuan Cloud’s issued share capital (excluding treasury shares). • The award carries no consideration. Based on the 29 May closing price of HK$1.83 per share, the grant’s market value is approximately HK$30.24 million. • Vesting schedule: 0.50 million shares on 29 May 2027 and 16.03 million shares on 29 May 2028, subject to individual performance criteria, including minimum appraisal grades and other capability assessments. • The grant excludes directors, chief executives, substantial shareholders, related entity participants and service providers above regulatory thresholds, aligning with HKEX Listing Rules 17.06A-C requirements. • No clawback mechanism applies; however, non-fulfilment of performance targets can lead to forfeiture at the Board’s discretion.
Capacity for future incentives Following this grant, 162.61 million shares remain available under the overall Scheme Limit, with 9.84 million shares still reserved under the Service Provider Sublimit.
The Board expressed appreciation for Ms. Xiao’s contributions and stated that business operations will proceed without disruption during the leadership transition.