[Source: Jinan Times]
Today (July 25), Oriental Selection announced on the Hong Kong Stock Exchange that Dong Yuhui has decided to no longer serve as an employee of the company and the senior management of a consolidated affiliated entity of the company. The resignation is due to Dong Yuhui’s career ambitions, commitment to his other businesses and personal time arrangements, effective July 25, 2024.
In addition to fully paying the promised benefits and compensation to Dong Yuhui, Yu Minhong, chairman of the board of directors, has sought approval from the board of directors and the remuneration committee of the board of directors to distribute all remaining undistributed profits of Peer to Dong Yuhui to Dong Yuhui.
In addition, in accordance with the listing rules and the company's articles of association, Yu Minhong has made arrangements for the settlement consideration for Dong Yuhui's acquisition of Hehui Peer.
In order to maintain the normal operation of Hehui Peer, the company will provide self-developed information systems to Hehui Peer for free.
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Yu Minhong and Dong Yuhui responded
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Yu Minhong: Award all the net profits of Travel with Hui to Yuhui
Yu Minhong issued an "Open Letter to Friends of Oriental Selection Shareholders": Starting from today, Oriental Selection's wholly-owned The subsidiary company Hui Peer will be officially independent from Dongfang Selection, with Dong Yuhui personally holding 100% of its shares. In order to express my gratitude to Yuhui, in addition to paying all the promised benefits, I have sincerely requested and obtained the consent of the board of directors and the remuneration committee to reward Yuhui with all the net profits from the company.
Full text of the open letter
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Dong Yuhui: I wish Dongfang Selection all the best
Response full text
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