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China In-Tech Limited Board/Management Information 2026
49229_rns_2026-05-15_5e8b3946-d367-4df5-aeef-23cd460dc4be.pdf
Board/Management Information
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
In-Tech
中國智能科技有限公司
CHINA IN-TECH LIMITED
(incorporated in Cayman Islands with limited liability)
(Stock Code: 00464)
(1) RE-DESIGNATION AND APPOINTMENT OF DIRECTORS; AND
(2) CHANGES IN COMPOSITION OF BOARD COMMITTEES
RE-DESIGNATION AND APPOINTMENT OF DIRECTORS
The board (the "Board") of directors (the "Director(s)") of China In-Tech Limited (the "Company", together with its subsidiaries, the "Group") is pleased to announce that with effect from 15 May 2026, (i) Mr. Zhang Jiayou (張加友) ("Mr. Zhang"), an independent non-executive Director, has been re-designated as an executive Director (the "Re-designation"); and (ii) Professor Wang Zehua (王澤華) ("Professor Wang") has been appointed as an independent non-executive Director.
Mr. Zhang
Mr. Zhang, aged 54, has been serving as an independent non-executive Director since December 2020. He was a member of the audit committee, remuneration committee and nomination committee of the Company before Re-designation. Mr. Zhang obtained his bachelor degree in Oil and Gas Geological Exploration from the China University of Petroleum in July 1997 and obtained a Qualification Certificate of Specialty and Technology issued by the China Petrochemical Corporation in December 2002. He has over 26 years of experience in research, evaluation, and acquisition in oil and gas projects, minerals projects and other asset projects. Between 1997 and 2003, Mr. Zhang worked in a subsidiary of China Petrochemical Corporation. He then worked in Energy Science Service & Consulting Associates from 2005 until 2011 and Pearl Oriental Oil Limited (currently known as CHK Oil Limited, the shares of which are listed on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") (stock code: 632)) between 2011 and 2017.
In respect of the Re-designation, Mr. Zhang has entered into a service agreement with the Company as an executive Director for a term of three years commencing from 15 May 2026, which may be terminated by either the Company or Mr. Zhang by giving at least three months' written notice or otherwise in accordance with the terms of the service agreement. According to the articles of association of the Company, Mr. Zhang shall retire from office and be eligible for re-election at the next annual general meeting of the Company.
Pursuant to the service agreement entered into between Mr. Zhang and the Company, Mr. Zhang is entitled
to a remuneration of HK$360,000 per annum. Such amount is determined by the remuneration committee under the Board with reference to the experience, duties and responsibilities of Mr. Zhang, as well as the prevailing market rate of remuneration offered by companies of comparable size and similar operation.
As at the date of this announcement, Mr. Zhang does not have any relationship with any Directors, senior management, substantial or controlling shareholders (within the meaning of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules")) of the Company.
As at the date of this announcement, Mr. Zhang does not have and is not deemed to have any interests or short positions in the shares or underlying shares or debentures of the Company for the purposes of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
As at the date of this announcement, save as disclosed herein, Mr. Zhang (i) does not hold any other directorship in any other public companies, the securities of which are listed on any security market in Hong Kong or overseas, in the last three years; (ii) does not hold any other position in the Company or any of its subsidiaries; and (iii) does not have any other major appointments or professional qualifications.
As at the date of this announcement, save as disclosed herein, to the best of the knowledge, information and belief of the Directors, having made all reasonable enquiries, there is no other matter concerning the re-designation of Mr. Zhang that needs to be brought to the attention of the shareholders of the Company nor is there any information that is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules.
Professor Wang
Professor Wang, aged 40, has extensive academic research and commercialisation experience in blockchain, electrical and computer engineering.
Professor Wang obtained his Ph.D. in Electrical and Computer Engineering from The University of British Columbia, Canada (the "UBC"), in 2017. He conducted postdoctoral research at the UBC and served as an adjunct professor in the Department of Electrical and Computer Engineering of the UBC.
Professor Wang is currently a distinguished professor and doctoral supervisor at China University of Mining and Technology. He is also a core faculty member of Blockchain@UBC, a multidisciplinary research cluster, in the Department of Electrical and Computer Engineering at the UBC.
Professor Wang has long been engaged in research in blockchain systems, consensus and security, privacy-preserving computation, smart contract security, trusted artificial intelligence and related fields. He has published extensively in international journals and conferences. He currently serves as an Area Editor of "Computer Communications", published by Elsevier, a global leading publisher of scientific, technical and medical content, and as a Youth Editorial Board Member of "Blockchain: Research and Applications". He has also served as a guest editor for academic journals in the fields of mobile networks, blockchain and smart multimedia.
Professor Wang was a co-founder of Verilog Solutions, a Canadian Web3 security company, and served as chief scientist of the RightMesh Project, which developed decentralised mobile mesh networking technologies and received a letter of commendation from the Prime Minister of Canada in 2018.
Professor Wang has entered into a letter of appointment with the Company as an independent non-executive Director for a term of three years commencing from 15 May 2026, which may be terminated by either the Company or Professor Wang by giving at least three months' written notice or otherwise in accordance with the terms of the letter of appointment. According to the articles of association of the Company, Professor Wang shall retire from office and be eligible for re-election at the next annual general meeting of the
2
Company.
Pursuant to the letter of appointment entered into between Professor Wang and the Company, Professor Wang is entitled to a remuneration of HK$96,000 per annum. Such amount is determined by the remuneration committee under the Board with reference to the experience, duties and responsibilities of Professor Wang, as well as the prevailing market rate of remuneration offered by companies of comparable size and similar operation.
As at the date of this announcement, Professor Wang does not have any relationship with any Directors, senior management, substantial or controlling shareholders (within the meaning of the Listing Rules) of the Company.
As at the date of this announcement, Professor Wang does not have and is not deemed to have any interests or short positions in the shares or underlying shares or debentures of the Company for the purposes of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
As at the date of this announcement, save as disclosed herein, Professor Wang (i) does not hold any other directorship in any other public companies, the securities of which are listed on any security market in Hong Kong or overseas, in the last three years; (ii) does not hold any other position in the Company or any of its subsidiaries; and (iii) does not have any other major appointments or professional qualifications.
As at the date of this announcement, save as disclosed herein, to the best of the knowledge, information and belief of the Directors, having made all reasonable enquiries, there is no other matter concerning the appointment of Professor Wang that needs to be brought to the attention of the shareholders of the Company nor is there any information that is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules.
Professor Wang has confirmed (i) his independence as regards each of the factors referred to in Rule 3.13(1) to (8) of the Listing Rules; (ii) that he has no past or present financial or other interest in the business of the Group or any connection with any core connected person (as defined in the Listing Rules) of the Company; and (iii) that there is no other factors that may affect his independence at the time of his appointment.
The Board would like to take this opportunity to extend the warmest welcome to Mr. Zhang for his new executive role in the Company and Professor Wang for joining the Board.
CHANGES IN COMPOSITION OF BOARD COMMITTEES
The Board also announces the following changes in composition of the Board committees, with effect from 15 May 2026:
(i) Mr. Zhang has ceased to be a member of each of the audit committee, remuneration committee and nomination committee of the Company; and
(ii) Professor Wang has been appointed as a member of each of the audit committee, remuneration committee and nomination committee of the Company.
By Order of the Board
China In-Tech Limited
Zhang Huijun
Chairman
Hong Kong, 15 May 2026
As at the date of this announcement, the Board comprises four executive Directors, namely Mr. Zhang Huijun, Ms. Cai Dongyan, Mr. Zhou Li Yang and Mr. Zhang Jiayou, and three independent non-executive Directors, namely Mr. Hu Zhigang, Mr. Ma Yu-heng and Professor Wang Zehua.
Website: www.chinaintech464.com