On 5 March 2026, the Board of Directors of Shanghai Electric Group Company Limited (SH ELECTRIC, 02727) approved the resignation of Non-Executive Director Ms. Lu Wen due to work reassignment. Ms. Lu will continue fulfilling her responsibilities until the date a new Director is elected at a general meeting. She confirmed no disagreements with the Board and no other matters requiring shareholder or regulatory attention.
SH ELECTRIC has proposed appointing two new Non-Executive Directors. The Board nominated candidate Ms. Zhu Yun, aged 53, for Non-Executive Director of the sixth session of the Board. Upon formal commencement of her term, Ms. Zhu is to serve as deputy chairlady, and as a member of both the audit committee and the nomination committee. She previously held positions including deputy director of the Comprehensive Economic Audit Division in Shanghai’s Pudong New Area and general manager of Shanghai Pudong Kechuang Group Co., Ltd. She is a master’s degree holder in public administration from East China Normal University and a senior auditor.
Additionally, the Board nominated candidate Mr. Cao Qingwei, aged 56, for Non-Executive Director of the sixth session of the Board. He currently serves as investment director of Shanghai State-owned Capital Investment Co., Ltd. and holds directorships in several entities, including Shanghai International Port (Group) Co., Ltd. and Shanghai International Airport Co., Ltd. Mr. Cao holds a master’s degree in business administration from Huazhong University of Science and Technology.
Neither Ms. Zhu nor Mr. Cao holds any position in SH ELECTRIC or its subsidiaries, nor do they have interests in the company’s shares or any listed companies’ securities. They will not receive remuneration during their terms, and the company has not entered into any service contracts with them. Their appointments require approval at a forthcoming general meeting.
Separately, the Board approved the appointment of Ms. Cheng Yan, aged 48, as Chief Information Officer, effective immediately. Ms. Cheng is also head of the Digital and Informatization Department of SH ELECTRIC and a director of Shanghai Electric Group Digital Technology Co., Ltd. A professorate senior engineer, she has previously served in information technology leadership roles within the company and its affiliated enterprises.
A general meeting will be convened to confirm the proposed Non-Executive Director appointments. Further information on these proposals will be included in a circular to shareholders. All details in this announcement are based on official disclosures provided by SH ELECTRIC.