Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

ELECTION OF CHAIRMAN

The board of directors (the "Board") of Beijing North Star Company Limited (the "Company") is pleased to announce that, the Board elected and resolved to appoint Mr. LI Wei-Dong as the chairman of the eighth session of the Board of the Company, the chairman of the strategic committee and the chairman of the nomination committee under the Board. The term of office starts from 20 August 2020 until the expiry date of the eighth session of the Board. Meanwhile, Mr. LI Wei-Dong ceased to hold his position as the general manager of the Company. The Company will complete the appointment of the general manager pursuant to the legal procedures as soon as possible.

The biographical details of Mr. LI Wei-Dong are as follows:

Mr. LI Wei-Dong, aged 52, is the chairman of the Company. Mr. LI graduated from Renmin University of China with a master's degree in management. He is an engineer. Mr. LI served as the mechanical workshop director, deputy manager and manager of Beijing Yanshan Cement Factory ( 北 京 市 燕 山 水 泥 廠 ), the chief of the real estate division and the assistant to the general manager of BBMG Group Company Limited* ( 北 京 金 隅 集 團 有 限 責 任 公 司) and the manager of Tengda Plaza ( 騰 達 大 廈), the manager of BBMG Property Management Co., Ltd. ( 北 京 金 隅 物 業 管 理 有 限 責 任 公 司), the chairman of Beijing Dacheng Property Development Co., Ltd. ( 北 京 大 成 房 地 產 開 發 有 限 責 任 公 司), the deputy general manager and the executive director of BBMG Corporation* ( 北 京 金 隅 股 份 有 限 公 司). He joined in the Company in 2016 and served as an executive director and the general manager of the Company, and was re-elected and re-appointed as the executive director and the general manager of the Company in May 2018. Mr. LI also holds directorships and/or relevant positions in certain subsidiaries of the Company. Mr. LI ceased to hold his position as the general manager of the Company with effect from 20 August 2020. Mr. LI possesses extensive experience in real estate development and property management.

- 1 -

Mr. LI Wei-Dong has no interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). Save as disclosed above, Mr. LI has not held directorships in any other listed public companies during the three years preceding the date of this announcement.

Save for serving as the chairman of Beijing North Star Industrial Group Limited Liabilities Company (the controlling shareholder of the Company) and his roles (including directorship) in some of its subsidiaries, Mr. LI Wei-Dong has no other relationship with any directors, senior management, substantial or controlling shareholder of the Company. The Company has entered into a service contract with Mr. LI Wei-Dong, for a term of three years from 28 May 2018, and his remuneration is approved and determined by the shareholders at the general meeting of the Company.

Save as disclosed above, there is no matter in relation to the election and appointment of Mr. LI Wei-Dong as the Chairman which needs to be brought to the attention of the shareholders of the Company, and there is no other information which is required to be disclosed pursuant to any of the requirements of Rule 13.51(2) of the Listing Rules.

In accordance with the relevant requirements of the Articles of Association of the Company, the Chairman of the Board shall be the legal representative of the Company. The Company will complete the industrial and commercial registration procedures of the legal representative as soon as possible.

By order of the Board

BEIJING NORTH STAR COMPANY LIMITED

GUO Chuan

Executive Director and Company Secretary

Beijing, the PRC, 20 August 2020

As at the date of this announcement, the Board comprises eight directors, of which Mr. LI Wei-Dong, Ms. LI Yun, Mr. CHEN De-Qi, Ms. ZHANG Wen-Lei and Mr. GUO Chuan are executive directors and Mr. FU Yiu-Man, Mr. DONG An-Sheng and Mr. WU Ge are independent non-executive directors.

  • For identification purpose only

- 2 -

Attachments

  • Original document
  • Permalink

Disclaimer

Beijing North Star Company Limited published this content on 20 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 August 2020 12:20:08 UTC