Chengdu Huawei Board Secretary Li Chunyan Resigns, Holdings Valued at RMB 68.5 Million

After the market close on August 31, Chengdu Huawei Microelectronics (688709) announced that the board of directors had received a resignation application from board secretary Li Chunyan. Li resigned from her position for personal reasons and will no longer hold any role at the company or its subsidiaries, with the resignation taking effect upon delivery to the board. According to the announcement, Li has completed the handover procedures in accordance with company regulations, and her resignation will not affect the company's normal operations or management. During the vacancy, the chairman of the board will perform the duties of board secretary. Li did not elaborate on her reasons for resigning, only stating that "there are many reasons."

Public records show that Li Chunyan was born in May 1978 and holds a doctoral degree. She joined Chengdu Huawei in its early days, around 2007, initially serving as director of the president's office, overseeing cross-departmental work in administration, human resources, and public affairs. She later served as director of the board office and officially became board secretary in September 2021. The announcement indicated that her original term was set to expire on July 21, 2027, meaning her resignation comes about one year before the scheduled end of her term. She was involved in the company's initial public offering and corporate governance standardization efforts.

As of the announcement date, Li indirectly held 2,190,873 shares of the company through Chengdu Huawei Zhongzhi Gongchuang Enterprise Management Center (Limited Partnership), representing 0.344% of total share capital, and 471,268 shares through Chengdu Huawei Gongrong Zhongchuang Enterprise Management Center (Limited Partnership), representing 0.074% of total share capital. Together, these indirect holdings amount to approximately 2.66 million shares, or about 0.418% of total share capital. Based on the closing price of RMB 25.73 per share on August 31, the total market value of these indirect holdings is approximately RMB 68.5 million. The announcement stated that after her departure, Li will continue to comply with relevant laws and regulations as well as commitments made during the company's initial public offering.

Following the announcement, Li posted a farewell message on her social media. She noted that her connection with Chengdu Huawei began in 2007, nearly two decades ago, and reflected on the journey of shared hardship and glory with the company, starting from her role in the general office handling personnel and administrative work, and progressing through multiple positions. She stated that the board secretary role carries significant responsibility, and that she faced pressure in information disclosure, investor communication, and risk handling while maintaining professional integrity. She also expressed gratitude to the company, former leaders, colleagues, and shareholders and investors.