SMC ELECTRIC (02381): Lin Zhendong Appointed as Chairman of the Board; Public Float Restored

SMC ELECTRIC (02381) announces that Mr. Leung Chun-wah, Mr. Tang Ziran, Mr. Zhou Qichao, Mr. Yung Kwok-kee, Ms. Li Bimei, Mr. Leung Man-chiu, Mr. Poon Chak-sang and Mr. Ho Chi-shing have resigned as directors of the Company with effect from 7 October 2026. In addition, Mr. Leung Chun-wah has also resigned as the chief executive officer of the Company with effect from 7 October 2026. The above resignations are due to the change in control of the Company as disclosed in the composite document. Upon the resignations taking effect, (i) Mr. Yung Kwok-kee ceased to be the chairman of the Board, the chairman of the nomination committee of the Board, a member of the audit committee of the Board and a member of the remuneration committee of the Board; (ii) Mr. Poon Chak-sang ceased to be the chairman of the remuneration committee, a member of the nomination committee and a member of the audit committee; (iii) Mr. Leung Man-chiu ceased to be the chairman of the audit committee, a member of the remuneration committee and a member of the nomination committee; (iv) Ms. Li Bimei ceased to be a member of the nomination committee; and (v) Mr. Ho Chi-shing ceased to be a member of the nomination committee. With effect from 7 October 2026, (i) Mr. Lin Zhendong has been appointed as the chairman of the Board, an executive director of the Company, the chief executive officer of the Company and the chairman of the nomination committee; (ii) Mr. Lin Wenhong has been appointed as an executive director of the Company and a member of the remuneration committee; (iii) Ms. Peng Haiyan has been appointed as an executive director of the Company and a member of the nomination committee; (iv) Mr. Lin Wentan has been appointed as a non-executive director of the Company and a member of the audit committee; (v) Mr. Xiao Jiahui has been appointed as an independent non-executive director of the Company, the chairman of the audit committee and a member of the nomination committee; (vi) Mr. Li Xinsong has been appointed as an independent non-executive director of the Company, the chairman of the remuneration committee and a member of the audit committee and the nomination committee; and (vii) Mr. Yu Hao has been appointed as an independent non-executive director of the Company and a member of the remuneration committee and the nomination committee. With effect from 7 October 2026, each of Mr. Zhou Qichao and Ms. Li Bimei has ceased to act as an authorised representative of the Company under Rule 3.05 of the Listing Rules, and Mr. Leung Chun-wah has ceased to act as the authorised representative of the Company for accepting service of legal process and notices in Hong Kong under Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong). With effect from 7 October 2026, each of Mr. Lin Zhendong and Ms. Peng Haiyan has been appointed as an authorised representative of the Company under Rule 3.05 of the Listing Rules and as a process agent. Immediately following the resignation of Mr. Yung Kwok-kee as a non-executive director and the chairman of the Board with effect from 7 October 2026, he ceased to be a core connected person of the Company, and the vendor accordingly ceased to be a core connected person of the Company. As a result, the 100 million retained shares held by the vendor are regarded as shares held by the public. Taking into account these retained shares, as at the date of this announcement, the total number of shares held by the public is 599 million shares, representing 29.945% of the entire issued share capital of the Company. Accordingly, the minimum public float requirement of 25% of the total number of issued shares as stipulated under Rule 13.32B(1) of the Listing Rules has been restored.