Innoscience (02577) has officially announced a significant leadership transition, revealing that Ms. Wei Yu has been appointed as the company's new Chief Financial Officer.

The move comes as part of a broader corporate governance restructuring. The company confirmed that its first-term board of directors has completed its tenure. In accordance with the requirements of the Company Law of the People's Republic of China and the company's Articles of Association, nominations have been put forward for the second-term board of directors.

The proposed non-employee director candidates include Dr. Weiwei Luo, Mr. Jay Hyung Son, and Dr. Wu Jingang as executive director candidates. Additionally, Dr. Wang Can and Ms. Zhang Yanhong have been nominated as non-executive director candidates, while Mr. Huang Xianrong, Dr. Yi Jiming, and Dr. Yang Shining are proposed as independent non-executive director candidates. All appointments are subject to shareholder approval and will carry a three-year term.

Once these candidates are ratified at the shareholders' meeting, they will form the second-term board alongside one staff representative director elected via the company's workers' congress.

Due to this board renewal cycle, several existing directors will step down effective from the date the new board is elected. Mr. Zhong Shan, who currently serves as the executive director and CFO, will relinquish his director position. Ms. Cui Mizi, the current non-executive director, and Dr. Chen Zhenghao, the current independent non-executive director, will also conclude their board duties. Dr. Chen will additionally vacate all his roles on the board's special committees.

Alongside the board changes, the company has also addressed leadership tenures. Since the CEO's term has reached its conclusion, the board has resolved to reappoint Dr. Wu Jingang as Chief Executive Officer. His new term will span three years, commencing from the board resolution date of August 28, 2026. Similarly, with the CFO's term expiring, the board has resolved to appoint Ms. Wei Yu as the new Chief Financial Officer. Her three-year term also starts on August 28, 2026. Consequently, Mr. Zhong Shan's retirement from the CFO position becomes effective on that same date.