Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen OC_Formula for the clue delivery! CTOnews.com July 17, SMIC announced that Dr. Gao Yonggang resigned as chairman, executive director and chairman of the board nomination committee due to job changes, effective July 17, 2023. Dr. Liu Xunfeng, Vice Chairman, Executive Director and member of the Board nomination Committee of the Company, was appointed as Chairman, Executive Director and Chairman of the Board nomination Committee with effect from July 17, 2023.

According to the company's website, Dr. Gao Yonggang, a former chairman and executive director of SMIC, has also served as a director or chairman of several subsidiaries and shareholding companies of the company. Dr. Gao is currently the Chairman of Jiangsu Changdian Technology Co., Ltd. (600584.SH) and the independent director of Shanghai Yirui Optoelectronics Technology Co., Ltd. (688301.SH); he is also the executive director of China Accounting Association, the founding director of Hong Kong Independent non-Executive Directors Association, the vice president of China Electronic Information Industry Association, and the executive director of China International Economic Exchange Center. Dr. Gao has more than 30 years of business management experience and has served as the financial or corporate head of a number of companies or organizations. Dr. Gao was the chief accountant of the Telecommunication Science and Technology Research Institute and the chairman of Datang Telecom Group Finance Co., Ltd. Dr. Gao holds a doctorate in management from Nankai University.

Dr. Liu Xunfeng was previously vice chairman and executive director of the Company, and vice chairman of Shanghai Chemical Industrial Zone Development Co., Ltd. he was also a member of the 14th CPPCC National Committee, vice president of China Petroleum and Chemical Industry Federation, and chairman of Shanghai New Materials Association. Dr. Liu has long worked in large industrial groups and has more than 30 years of enterprise management experience. He has successively served as Deputy Chief engineer, Deputy Director of Investment Engineering Department, Assistant General Manager and Deputy General Manager of Sinopec Shanghai Petrochemical Co., Ltd., Deputy General Manager of Shanghai Secco Petrochemical Co., Ltd., Deputy General Manager of Shanghai Chemical Industrial Zone Development Co., Ltd. Deputy Party Committee Secretary, President, Party Committee Secretary and Chairman of Shanghai Huayi (Group) Co., Ltd., Party Committee Secretary and Chairman of Shanghai Huayi Group Co., Ltd., Chairman of Shanghai Huayi Holdings Group Co., Ltd. He has successively won the titles of leading figure of industry and commerce in Shanghai and outstanding entrepreneur in Shanghai. Dr. Liu holds a Ph. D. in Management Science and Engineering from Xi'an Jiaotong University, a Master of Business Administration from CEIBS International Business School, a Master of reaction Engineering and a professor-level Senior engineer from the Department of Chemical Engineering of East China University of Science and Technology.

CTOnews.com noted that in March this year, SMIC released its 2022 annual report: annual sales revenue in 2022 surged to US $7.2 billion, up 34% from the same period last year, gross profit margin increased to 38%, and net profit belonging to shareholders of listed companies exceeded US $1.8 billion, all reaching record highs and achieving the best performance of the year. The company's asset structure is sound, with total assets of US $43.8 billion at the end of the year, an increase of 21% over the previous year, and an asset-liability ratio of 34%.

As of the 17th close, SMIC fell 1.40% to 48.77 yuan per share, with a total market capitalization of 386.55 billion yuan.

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