02/18/2026 | Press release | Distributed by Public on 02/18/2026 05:19
ITEM 5.02 - DEPARTURE AND APPOINTMENT OF DIRECTORS
On January 7, 2026, Shanna Wu, Michael Bibat Bautista, Shao Yuan Guo, Wai Yin Cheng resigned from the Board of Directors of the Company.
The resignation was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies, or practices.
Appointment of Director
On January 7, 2026, the Board of Directors appointed Ximing Huang, as president and a member of the Board of Directors, Johnny Chen, as a member of the Board of Directors, Tin Chi Chan as a member of the Board of Directors, Dr. Kevin Yikang Zhang as an independent member of the Board of Directors, and Dr. Hao Zheng as an independent member of the Board of Directors, (effective immediately.
Dr. Ximing Huang, age 62, has served as Chairman and CEO of Light Across, Inc., Chairman and CEO of Nanjing Bordrin New Energy Vehicle Corporation, Ltd, CEO of Shanghai Cotech Automotive Engineering Corporation, Ltd, and worked for Ford Motor Company and General Motor Corporation for many years.
Mr. Johnny Chen, age 61, has served as CFO of Light Across, Inc., Successfully led a 2 billion RMB joint venture with China Telecom for autonomous driving technology development, Strong track record of fundraising and strategic business development in various industries, including EV and autonomous driving sectors.
Dr. Tin Chi Chan, age 59, is the founder and Chairman of Ecrent Worldwide Company Ltd and led the M&A of a Sino-foreign joint venture with a Fortune 500 company.
Dr. Kevin Yikang Zhang, age 67, has served as CTO/Senior VP of Karma Automotive, Technology Director/Chief Engineer of Ford Motor Company.
Dr. Hao Zheng, age 62, has served as CTO of MoringStar EV, VP of Huatai Automobile Holding Group, VP of Changan R&D.
There are no arrangements or understandings between Ximing Huang, Johnny Chen, Tin Chi Chan, Kevin Yikang Zhang, Hao Zheng and any other person pursuant to which he was selected as a director.
There are no transactions involving Ximing Huang, Johnny Chen, Tin Chi Chan, Kevin Yikang Zhang, Hao Zheng requiring disclosure under Item 404(a) of Regulation S-K.
The Board has not yet determined committee assignments.