Lin Yongde resigns as Chief Executive Officer of Shanghai Commercial Bank.

On February 3rd, Shanghai Commercial Bank Limited announced that Lin Yongde has resigned as Chief Executive Officer, with immediate effect. The board of directors is in the process of selecting a successor for the position of CEO and will make further announcements in due course. During the transition period, Vice CEO and Group Business Director Zhong Mengting has immediately assumed the responsibilities of CEO. The management transition is being carried out in an orderly manner, with no impact on the bank's daily operations, governance structure, or strategic focus. According to the Shanghai Commercial Bank website, the bank was established in Hong Kong in November 1950 and has nearly 50 branches in Hong Kong, mainland China, and overseas.