Concord New Energy Group Limited (Stock Code: 182) has announced that, effective on November 3, 2025, its Executive Director and Chief Executive Officer, Mr. Gui Kai, has resigned from all his roles. He attributes his departure to an upcoming retirement plan related to age considerations and a desire to spend more time with his family. According to the announcement, there is no disagreement between Mr. Gui and the Board, and no matters require further attention from shareholders or the Hong Kong Stock Exchange.

Mr. Gui’s responsibilities will be succeeded by existing Executive Director, Mr. Niu Wenhui, who was officially promoted to Chief Executive Officer on November 3, 2025. Mr. Niu joined the organization in 2010 and has served in various leadership capacities, including Assistant to President, Vice President, and Chief Financial Officer. He holds both a Bachelor’s in Financial Accounting and a Master’s in Business Administration, with more than two decades of experience in leading large enterprises. His remuneration structure will include a basic annual salary of RMB2,400,000 alongside a performance-related component determined at year-end.

The announcement also notes that, as of the date of disclosure, Mr. Niu holds a personal stake of 16,000,000 shares in Concord New Energy Group, representing approximately 0.20% of the Company’s total issued share capital.

Additionally, the Board has confirmed changes in the composition of the Environmental, Social and Governance Committee. Following Mr. Gui’s resignation, he will no longer serve on the committee, and Mr. Zhai Feng has been appointed to fill the vacated position.