Dida Inc. reported that it is deemed to have a “Significant Public Float Shortfall” under Rule 13.32F of the Hong Kong Listing Rules, triggering a formal warning from The Stock Exchange of Hong Kong. The company must restore the minimum public float required by Rule 13.32B by 20 February 2028 or face mandatory delisting.
Effective 30 August 2026, seven directors—Chairman and Executive Director Song Zhongjie, Executive Directors Li Jinlong, Duan Jianbo and Li Yuejun, plus Independent Non-executive Directors Li Feng, Li Jian and Wu Wenjie—have resigned. All departing directors affirmed there were no disagreements with the Board and no matters requiring shareholder attention.
To stabilise governance, the Board appointed: • Xu Jianzhong (aged 39), Senior Vice President of Tongcheng Travel Group, as Chairman and Non-executive Director. • Yan Yan (aged 37), a Fellow of the ACCA and former Assistant Vice President, Finance & Business Analysis at Tongcheng Travel Group, as Executive Director and Chief Financial Officer. • Chu Rongwei (associate professor, Fudan University), Ju Huijun (CPA, Operations Director at Genbridge Capital) and Yan Zhang (entrepreneur in B2B digital platforms) as Independent Non-executive Directors. Each INED will receive an annual director’s fee of RMB0.20 million and has confirmed full independence under Listing Rule 3.13.
Committee realignments accompanying the board overhaul include: • Xu Jianzhong appointed Chair of the Nomination Committee. • Yan Zhang named Chair of the Remuneration Committee and joins the Audit, Nomination and ESG Committees. • Chu Rongwei becomes Chair of the ESG Committee and joins the Remuneration Committee. • Ju Huijun assumes Chair of the Audit Committee and joins both the Nomination and ESG Committees. • CEO Wang Xiaobo joins the Remuneration Committee; Non-executive Director Li Jun joins the Audit Committee.
Dida Inc. stated that all new appointments are initially for one-year terms (three years for Executive Director Yan Yan), subject to shareholder re-election. No emoluments are payable to Xu Jianzhong or Yan Yan for their directorships; remuneration for other roles is set at RMB0.20 million annually for each INED.
The Board reiterated its responsibility for the accuracy of the disclosed information and advised shareholders to exercise caution when trading the company’s shares in light of the current public float deficiency and potential delisting risk.