Joyson Electronics (00699) saw its shares plummet 5.05% during intraday trading on Tuesday, as investors reacted to news of board changes at the company.

The stock decline followed the company's announcement that Professor Wei Xuezhe will not seek re-election as an independent non-executive director at the upcoming annual general meeting. Professor Wei currently serves as chairman of the board's nomination, remuneration and assessment committee, and as a member of the strategy and ESG committee.

While the board has proposed the appointment of Mr. Wang Wenhai as a new independent non-executive director to fill the vacancy, investors appear concerned about the departure of a key board member with significant committee responsibilities, creating uncertainty around the company's governance structure.