News Summary:
On September 11, 2026, HKBN appointed Shi Xiaoping as chairman, consolidating control under its parent company, China Mobile Hong Kong, where Ms. Shi also serves as Chairman and CEO. China Mobile acquired 70% of HKBN via a HK$5.23 per share premium, aiming to reduce debt costs and leverage its telecom infrastructure. Ms. Shi's appointment as Executive Director, Chairman of the Board, and Chairman of the Nomination Committee became effective the same day. She brings over 25 years of experience in the telecommunications industry, including her prior leadership role at China Mobile Hong Kong Company Limited. This move followed the resignation of Mr. Ling Hao from these executive and board chairman roles, citing other work commitments, also effective September 11, 2026. Earlier that day, HKBN announced an updated list of its board of directors and clarified their respective roles and committee memberships, underscoring a structured corporate governance approach. The company's 7-member board, led by Ms. Shi as Chairman and Executive Director, oversees the company through five specialized committees, including the Audit, Nomination, Remuneration, Environmental Social and Governance, and Risk Committees.
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