The Board of HG Semiconductor Limited announced that Dr. Cao Yu (Dr. Cao) has been appointed as chief executive officer of the Company with effect from 6 February 2023. Dr. Cao, aged 43, joined the Group in 2021 and is a core expert in the compound semiconductor business and the Vice President of Engineering of Xuzhou GSR Semiconductor Co. Ltd. and FastPower Inc. In 2002, he graduated from the Nanjing University, Jiangsu, China, with a Bachelor's degree in Physics and obtained a Master's degree in Advanced Materials for Micro and Nano-Systems from Singapore-MIT Alliance in 2003.

After working in the Institute of Materials Research and Engineering (Singapore) as a research fellow for two years, he joined the University of Notre Dame and received M.S. degree in Electrical Engineering in 2008, and Ph.D. degree in electrical engineering and M.S. degree in applied mathematics in 2010. After graduation, he joined Kopin as a staff scientist focusing on III-V epitaxy by MOCVD, and later a staff scientist of IQE when Kopin's III-V business was acquired. In 2014, he joined HRL Laboratories as a Member of technical staff, focusing on GaN-based power electronics.

Between 2017 and 2021, he served as a senior program manager at Qorvo Inc., managing multiple research programs focusing on RF electronics. In November 2021, he joined Xuzhou GSR and FastPower as Vice President of Engineering. Dr. Cao has over 20 years of proven semiconductor research, development and production experience in epitaxial growth, characterisation, device design and processing of electronic and optoelectronic devices based on GaN, InN, AlN, GaAs, InP, and related ternary and quaternary alloys.

He has authored/co-authored 4 book/book chapters, 12 filed patents, and over 170 journal and conference papers. As a Senior Member of the Institute of Electrical and Electronics Engineers, he has also served as a committee member for IEEE EDS Compound Semiconductor Devices & Circuits Committee (2019­present) and IEEE Senior Member Application Review Panel (2021­present), as well as Electrochemical Society (ECS) Member at large, Electronics and Photonics Division: EPD, EPD executive committee member (2021­present). He was a technical committee member and session chair for Device Research Conference (2016­2018), International Workshop on Nitride Semiconductors (2018), Lester Eastman Conference (2018, 2020, 2021), IEEE Electron Devices Technology and Manufacturing (2021, 2022), ECS Meetings (2019­2021).

He also served as an editor for ECS Transactions in 2019 and a guest editor for IEEE Transactions on Electron Devices in 2020. He received IEEE George E. Smith Award in 2016 and is an invited reviewer for 15 prestigious research journals. The Board of HG Semiconductor Limited announced that Mr. Zhao Yi Wen (Mr. Zhao) has resigned as the chief executive officer of the Company with effect from 6 February 2023 due to a re-designation of duties in the Group.

Mr. Zhao will remain as the executive Director and chairman of the Company.