Effective December 12, 2025, PAX GLOBAL (00327) announced the following leadership changes: Mr. Nie Guoming has stepped down as Chairman, Executive Director, and CEO; Mr. Zhang Shiyang has resigned as Executive Director but will continue serving as CFO and one of the Joint Company Secretaries; Mr. Xu Changjun has been appointed as Chairman and Executive Director; Mr. Luo Shaowen has been appointed as Executive Director and CEO; Mr. Li Heguo has been appointed as Executive Director; and Mr. Zhang Hui has been appointed as Executive Director.