[Newsletter] Snow Wright changed director, Guoxing Optoelectronics obtained invention patent certificate

Shering Chairman and Independent Director of Shelley Resignation

On the evening of (26), Shellett issued a notice on changing directors.

According to the announcement, the company's board of directors received a written resignation report from Mr. Chai Guosheng, the chairman of the company, Ms. Ding Haifang, an independent director, and Mr. Peng Xiaowei, an independent director, on February 24, 2019.

Mr. Chai Guosheng, Chairman of the Board of Directors, requested to resign from the company's directors, chairman and special committee of the board of directors for personal reasons. After resigning, Mr. Chai Guosheng did not hold other positions in the company. Because the company's articles of association stipulate that the chairman of the board is the legal representative of the company, Mr. Chai Guosheng is no longer the legal representative of the company. After Mr. Chai Guosheng resigned, he was still the controlling shareholder and actual controller of the company, holding 236,273,138 shares of the company, accounting for 30.37% of the company's total share capital.

For the personal reasons, Mr. Ding Haifang, an independent director, requested to resign from the company's independent directors and special committees of the board of directors due to personal work time. After resigning, Ms. Ding Haifang and Mr. Peng Xiaowei did not hold other positions in the company.

Shell Wright said that in view of the resignation of the above three people, the company's board of directors will be lower than the legal minimum number, so the resignation report of the three will be effective after the election of the new directors at the company's general meeting. Prior to the appointment of the new directors elected by the shareholders' meeting, Mr. Chai Guosheng, Ms. Ding Haifang and Mr. Peng Xiaowei will continue to perform their duties as directors in accordance with the requirements of laws, regulations and other regulatory documents and the Articles of Association.

In addition, after nomination by the controlling shareholder of the company and review by the Nomination Committee of the Board of Directors, the company intends to nominate Mr. Chai Hua as a candidate for the non-independent director of the fifth board of directors, and nominates Mr. Chai Hua as a member of the Remuneration and Appraisal Committee and Strategy Committee of the 5th Board of Directors. The term of office shall be from the date of approval of the general meeting of shareholders to the expiration of the term of the fifth board of directors.

Guoxing Optoelectronics obtained invention patent certificate

On the same day, Guoxing Optoelectronics announced that the company has recently received one invention patent certificate issued by the State Intellectual Property Office.

According to the announcement, the patent name is an LED lamp strip and its manufacturing method and its backlight device, patent number ZL 2016 1 0977771.5, the patent term is 20 years.

Guoxing Optoelectronics said that the acquisition of the above patents will not have a major impact on the company's production and operation, which will help improve the company's intellectual property protection system, enhance the manufacturing process and brand influence, and have a positive impact on the company's market development.