United Energy Group Ltd. has issued an announcement regarding a regulatory issue involving one of its directors, Mr. Zhang Hong Wei. The company has been informed that Mr. Zhang is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws and regulations. The notice from CSRC was dated 15 March 2025. Mr. Zhang, who joined the company in 1998 and has played a significant role in its development, has confirmed no disagreements with the Board and is unaware of any matters related to his resignation that need to be communicated to shareholders. United Energy Group Ltd. is currently seeking a suitable candidate to succeed Mr. Zhang as Chairman.
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