The chairman of Zhi Chao Technology, Xu Zhengmin, has passed away.

On February 21st, Zhi Chao Technology and Yu Huan Technology simultaneously released a major announcement, announcing the passing of Chairman Xu Zhengmin at the age of 72. The successor will be announced separately, with the announcement not disclosing the cause of Xu Zhengmin's passing. According to the company's website, Zhi Chao Technology was founded in 1998, with main business projects including manufacturing and selling electronic components and printed circuit boards. Yu Huan Technology was established in 1999, mainly engaged in the manufacturing, processing, and trading of electronic components and printed circuit boards. After receiving investment from Zhi Chao in 2010, Yu Huan Technology has been committed to seeking niche markets.