Corporate Governance

Board of Directors

Mr. SHAO Yan

Chairman and non-executive Director

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Mr. SHAO Yan (邵岩), was appointed as a Director of the Company in August 2016 and has been the Chairman of the Board and the Non-executive Director since June 2018.

Prior to joining our Company, Mr. Shao served as staff member at Yunnan Tobacco Science Research Institute* (雲南省煙草科學研究所) from July 1991 to October 1995. He then successively served as a deputy section chief of tobacco leaves manufacturing division and section chief of the tobacco leaves division in Yunnan Tobacco Company* (雲南省煙草公司) from October 1995 to January 2001. From January 2001 to April 2007, Mr. Shao served at Yunnan Tobacco Monopoly Administration (Company)* (雲南省煙草專賣局(公司)) as a deputy division director of the tobacco leaves management division and deputy chief agronomist, successively. He also served as the head of Yunnan Tobacco Science Research Institute* (雲南省煙草科學研究所) from December 2003 to April 2007 and a director of China Tobacco (Southern) Breeding Research Institute* (中國煙草育種研究(南方)中心) from June 2005 to April 2007. From April 2007 to November 2010, Mr. Shao served as a deputy general manager and the general manager at Tian Ze Tobacco Company (PVT) Limited* (天澤煙草有限責任公司), successively. From April 2009 to December 2015, Mr. Shao served as a deputy general manager of Yunnan Tobacco Monopoly Administration (Company)* (雲南省煙草專賣局(公司)). Mr. Shao has been serving as the general manager of China Tobacco International Inc. since December 2015.

Mr. Shao received a bachelor’s degree of biology from Hangzhou Normal University in July 1988, and a master’s degree in crop cultivation and planting from Yunnan Agricultural University in July 1991. He graduated from Hunan Agricultural University with a doctor’s degree in tobacco science and technology engineering in June 2008.

Mr. ZHANG Hongshi

Executive Director

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Hongshi (張宏實), has been our executive Director since February 2018, and was appointed as the General Manager of our Company in June 2018.

Prior to joining our Company, Mr. Zhang served as a staff member of the financial pricing department of CNTC from August 1984 to January 1987. From January 1987 to October 1991, Mr. Zhang served as a staff member and senior staff member of the financial pricing department of CNTC and a senior staff member of the general office of China Tobacco Import & Export Corporation* (中國煙草進出口總公司). From October 1991 to April 1996, Mr. Zhang successively served as a senior staff member, principal staff member and deputy director of Tian Li International Company Limited. He then successively served in several positions with China Tobacco Import & Export Corporation* (中國煙草進出口總公司), including a deputy director of the accounting department and a deputy director of the finance department, from April 1996 to June 2001. Mr. Zhang then served as the director of the financial management department of China Tobacco Import & Export (Group) Corporation* (中國煙草進出口(集團)公司) from June 2001 to October 2007. From October 2007 to June 2009, he served as the director of the financial management department and from June 2009 to June 2018 as chief accountant of China Tobacco International Inc. From April 2017 to June 2018, Mr. Zhang served as the general manager of Tian Li International Company Limited.

Mr. Zhang obtained his qualification as a senior accountant granted by STMA in May 2007. Mr. Zhang graduated from an undergraduate program in industrial economics from First Branch of Renmin University in July 1984. Mr. Zhang obtained a master’s degree of enterprise management from Beijing Normal University School in June 2009.

Ms. YANG Xuemei

Executive Director

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Ms. YANG Xuemei (楊雪梅),  joined us in October 2018 as the Vice General Manager of our Company and has been our executive Director since December 2018.

From July 1992 to June 1995, Ms. Yang worked at Kunming Machine Tool Company Limited* (昆明機床股份有限公司). She then worked at Yuxi Cigarette Factory* (玉溪捲煙廠) from June 1995 to February 1999 and at Yunnan Hongta Import & Export Company Limited* (雲南紅塔進出口有限公司) from February 1999 to January 2003. From January 2003 to January 2007, Ms. Yang successively served as a section chief of overseas investment management division, an assistant of manager and deputy manager at Hongta International Company Limited* (紅塔國際公司). From January 2007 to September 2018, Ms. Yang successively served as the vice general manager, general manager and chairman of Yunnan Tobacco International Company Limited* (雲南煙草國際有限公司).

Ms. Yang became a senior economist awarded by CNTC, our ultimate controlling shareholder, in August 2014. Ms. Yang obtained a bachelor’s degree of engineering from North University of China (formerly known as Taiyuan Institute of Mechanical) in July 1992, and a master’s degree of economics from Yunnan University in April 2007. Ms. Yang also obtained an MBA degree from University of Chicago Booth School of Business in March 2010.

Mr. WANG Chengrui

Executive Director

Joint Company Secretaries

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Mr. WANG Chengrui (王成瑞),  has been the deputy manager of the securities department of our Company since April 2018, our joint company secretary since July 2018 and our executive Director since December 2018.

Prior to joining our Company, Mr. Wang served as a marketing assistant from July 2005 to July 2009 and a management staff of employees’ career development at the human resource department of Yunnan Hongta Group* (雲南紅塔集團) from July 2009 to March 2013. From March 2013 to September 2016, Mr. Wang worked for the tobacco economy information centre of STMA as a principal staff member. He then served as a principal staff member of the investment department of China Tobacco International Inc. from September 2016 to June 2017 and as a deputy manager of the planning development department of Tian Li International Company Limited from May 2017 to June 2018.

Mr. Wang obtained two bachelor’s degrees in economics and software engineering from Yunnan University in July 2005. He also obtained an MBA degree from Yunnan University in December 2012.

Mr. CHOW Siu Lui

Independent Non-executive Director

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Mr. CHOW Siu Lui (鄒小磊), has been appointed as our independent non-executive Director since December 2018.

Mr. Chow has a wealth of experience in fund raising and initial public offering activities in Hong Kong and in accounting and financial areas. He is currently a partner of VMS Investment Group (HK) Limited and is responsible for its private equities activities.

Mr. Chow joined KPMG Hong Kong in July 1983 and was admitted as a partner in July 1995. In 2010, Mr. Chow participated in the review of the Code on Corporate Governance Practices issued by the Stock Exchange as a member of the listing committee. He retired from KPMG Hong Kong in December 2011. He worked at VMS Investment Group (HK) Ltd. as a director manager of the private equity department since April 2012 and is a partner currently. He served as an independent non-executive director of Fullshare Holdings Limited, a company listed on the Stock Exchange (Stock Code: 00607), since December 2013, an independent non-executive director of Genertec Universal Medical Group Company Limited, a company listed on the Stock Exchange (Stock Code: 2666), since June 2015, an independent non-executive director of Shanghai Dazhong Public Utilities (Group) Co.Ltd., a company listed on the Stock Exchange (Stock Code: 1635), since April 2016, an independent non-executive director of Futong Technology Development Holdings Limited, a company listed on the Stock Exchange (Stock Code: 0465), since December 2016 and an independent non-executive director of China Everbright Greentech Limited, a company listed on the Stock Exchange (Stock Code: 1257), since May 2017. He also served as an independent non-executive director of Sinco Pharmaceuticals Holdings Limited, a company listed on the Stock Exchange (Stock Code: 6833), from September 2015 to November 2018.

Mr. Chow obtained his qualification as a fellow of the Association of Chartered Certified Accountants (英國特許公認會計師公會) in July 1991, the Hong Kong Institute of Certified Public Accountants (香港會計師公會) (the “HKICPA”, formerly known as the Hong Kong Society of Accountants) in December 1993, the Hong Kong Institute of Chartered Secretaries (香港特許秘書公會) (the “HKICS”) in 2009, and the Institute of Chartered Secretaries and Administrators (英國特許秘書及行政人員公會) in 2009. Mr. Chow was appointed as the chairman of the mainland development strategies advisory panel and a member of the registration and practicing committee of the HKICPA for the year 2016 in February 2016. Mr. Chow was appointed as a council member and chairman of audit committee of the HKICS in December 2015. He obtained a professional diploma in accountancy from Hong Kong Polytechnic University (formerly known as Hong Kong Polytechnic) in November 1983.

Mr. WANG Xinhua

Independent Non-executive Director

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Mr. WANG Xinhua (王新華), has been appointed as our independent non-executive Director since December 2018.

Mr. Wang has more than 14 years of experience in financial management of PRC state-owned enterprises and Hong Kong listed companies. He has rich experience in listing compliance matters and providing financial advices to listed companies.

Prior to joining our Company, Mr. Wang served as director of the financial planning department of China Petrochemical Corporation* (中國石化集團公司), from November 2004 to April 2009. He worked as the chief financial officer at the China Petroleum & Chemical Corporation, a company listed on the Stock Exchange (Stock Code: 0386), the Shanghai Stock Exchange (Stock Code: 600028), the New York Stock Exchange (Stock Code: SNP), and the London Stock Exchange (Stock Code: SNP), from May 2009 to December 2015. He also served as an independent director of Guizhou Jiulian Industrial Explosive Materials Development Company Limited, a company listed on the Shenzhen Stock Exchange (Stock Code: 002037), since March 2016, an independent director of Guizhou Yibai Pharmaceutical Company Limited* (貴州益佰製藥股份有限公司), a company listed on the Shanghai Stock Exchange (Stock Code: 600594), since September 2016, an independent director of Xinjiang Zhongtai Chemical Company Limited* (新疆中泰化學股份有限公司), a company listed on the Shenzhen Stock Exchange (Stock Code: 002092), since January 2017, and an independent director of China Petroleum Engineering Company Limited* (中國石油集團工程股份有限公司), a company listed on the Shanghai Stock Exchange (Stock Code: 600339), since September 2017.

Mr. Wang obtained a bachelor’s degree from Northeastern University in the PRC in July 1996 and was a professor-level senior accountant granted by Sinopec Group in January 2004.

Mr. CHAU Kwok Keung

Independent Non-executive Director

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Mr. CHAU Kwok Keung (鄒國強), has been appointed as our independent non-executive Director since December 2018.

Mr. Chau has more than 15 years of experience in accounting and financial management.

Prior to joining our Company, Mr. Chau worked at Andersen & Co. from January 2001 to June 2002 as a senior consultant. He then worked as financial controller at Shanghai Hawei New Material and Technology Co., Ltd.. From August 2003 to April 2005, he served as deputy group financial controller at China South City Holdings Limited, a company listed on the Stock Exchange (Stock Code: 1668). From October 2005 to October 2007, he served as chief financial officer at China.com Inc., a company listed on the Stock Exchange (Stock Code: 8006). He also worked at Comtec Solar Systems Group Limited, a company listed on the Stock Exchange (Stock Code: 712), since November 2007, and severed as an executive director, the chief financial officer and company secretary since June 2008. He served as a member of the supervisory board of RIB Software AG from May 2010 to June 2013. From May 2014 to May 2019, he served as an independent non-executive director and chairman of the audit committee of Qingdao Port International Company Limited, a company listed on the Stock Exchange (Stock Code: 06198) and the Shanghai Stock Exchange (Stock Code:601298). He has been an independent director of The9 Limited, a company listed on the Nasdaq Stock Market (Stock Code: NCTY), since October 2015, and an independent non-executive director and the chairman of the audit committee of the China Xinhua Education Group Limited, a company listed on the Stock Exchange (Stock Code: 02779), since October 2017.

Mr. Chau obtained a bachelor’s degree in business management from the Chinese University of Hong Kong in May 1998. He was qualified as a chartered financial analyst of the Chartered Financial Analyst Institute since September 2003, a member of the Hong Kong Institute of Certified Public Accountants since July 2005, a member of the Association of Chartered Certified Accountants (ACCA) since June 2006 and obtained the professional qualification of independent director recognized by the Shanghai Stock Exchange in August 2017.

Mr. QIAN Yi

Independent Non-executive Director

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Mr. QIAN Yi (錢毅), aged 65, has been appointed as our independent non-executive Director since 17 May 2019.

Mr. Qian has 35 years of experience in enterprise management and nine years of experience in the tobacco industry.

Mr. Qian has 35 years of experience in enterprise management and nine years of experience in the tobacco industry. Prior to joining our Company, Mr. Qian successively served as the general manager and then concurrently a director of Nanyang Brothers Tobacco Co., Ltd. (“Nanyang Tobacco”), a Hong Kong-based cigarettes manufacturer who sells different kinds of cigarettes products in various regions including Hong Kong and Macau and a wholly owned subsidiary of Shanghai Industrial Holdings Limited (Stock Code: 363), from September 2008 until his retirement in May 2017. He successively served as a deputy chief executive officer, and an executive director and deputy chief executive officer of Shanghai Industrial Holdings Limited in Hong Kong from November 2009 to February 2014. In addition, Mr. Qian served as a director of The Wing Fat Printing Company, Limited in Hong Kong from May 2009 to June 2013 and as a director of Shanghai Industrial Investment (Holdings) Co., Ltd. in Hong Kong from July 2012 to February 2014, respectively. Mr. Qian also served as a visiting professor at the University of Shanghai for Science and Technology and Shanghai Publishing and Printing College, respectively, from November 2012.

Mr. Qian graduated from a postsecondary program in management engineering of Shanghai Jiaotong University in January 1983, an undergraduate program in enterprise management of Fudan University in July 1995 and a graduate program in economics of East China Normal University in July 2000. Mr. Qian obtained his qualification as a senior economist granted by Shanghai Municipal Qualification Reform Work Leading Team (上海市職稱改革工作領導小組) in December 1992.

Mr. CHEUNG Kai Cheong Willie

Joint Company Secretaries

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Mr. Cheung Kai Cheong Willie (張啟昌), has been appointed as one of our joint company secretaries since December 2018.

Mr. Cheung has more than 19 years of professional experiences in company secretarial, accounting and finance matters. Mr. Cheung worked as a manager of SW Corporate Services Group Limited mainly responsible for assisting listed companies in professional company secretarial work since April 2017. Prior to joining SW Corporate Services Group Limited, Mr. Cheung served as the vice finance manager of Luk Hing Entertainment Group Holdings Limited, a company listed on the Stock Exchange (Stock Code: 8052) from December 2014 to February 2016. He served as the company secretary and finance manager of CMMB Vision Holdings Limited, a company listed on the Stock Exchange (Stock Code: 0471) from July 2008 to June 2014. Mr. Cheung served as an audit assistant of Elina Hung & Co. from September 1996 to November 1997, an audit manager of Li, Tang, Chen & Co. from January 1998 to June 2006 and an audit senior of BDO McCabe Lo Limited from June 2006 and June 2008.

Mr. Cheung became a fellow member of the Hong Kong Institute of Certified Public Accountants in January 2009 and a fellow member of the Association of Chartered Certified Accountants in the United Kingdom in October 2008. Mr. Cheung obtained a Bachelor Degree of Arts (Honors) in Accounting and Finance at the University of Glamorgan in the U.K. in June 1996.

Mr. SHAO Yan (邵岩), was appointed as a Director of the Company in August 2016 and has been the Chairman of the Board and the Non-executive Director since June 2018.

Prior to joining our Company, Mr. Shao served as staff member at Yunnan Tobacco Science Research Institute* (雲南省煙草科學研究所) from July 1991 to October 1995. He then successively served as a deputy section chief of tobacco leaves manufacturing division and section chief of the tobacco leaves division in Yunnan Tobacco Company* (雲南省煙草公司) from October 1995 to January 2001. From January 2001 to April 2007, Mr. Shao served at Yunnan Tobacco Monopoly Administration (Company)* (雲南省煙草專賣局(公司)) as a deputy division director of the tobacco leaves management division and deputy chief agronomist, successively. He also served as the head of Yunnan Tobacco Science Research Institute* (雲南省煙草科學研究所) from December 2003 to April 2007 and a director of China Tobacco (Southern) Breeding Research Institute* (中國煙草育種研究(南方)中心) from June 2005 to April 2007. From April 2007 to November 2010, Mr. Shao served as a deputy general manager and the general manager at Tian Ze Tobacco Company (PVT) Limited* (天澤煙草有限責任公司), successively. From April 2009 to December 2015, Mr. Shao served as a deputy general manager of Yunnan Tobacco Monopoly Administration (Company)* (雲南省煙草專賣局(公司)). Mr. Shao has been serving as the general manager of China Tobacco International Inc. since December 2015.

Mr. Shao received a bachelor’s degree of biology from Hangzhou Normal University in July 1988, and a master’s degree in crop cultivation and planting from Yunnan Agricultural University in July 1991. He graduated from Hunan Agricultural University with a doctor’s degree in tobacco science and technology engineering in June 2008.

Hongshi (張宏實), has been our executive Director since February 2018, and was appointed as the General Manager of our Company in June 2018.

Prior to joining our Company, Mr. Zhang served as a staff member of the financial pricing department of CNTC from August 1984 to January 1987. From January 1987 to October 1991, Mr. Zhang served as a staff member and senior staff member of the financial pricing department of CNTC and a senior staff member of the general office of China Tobacco Import & Export Corporation* (中國煙草進出口總公司). From October 1991 to April 1996, Mr. Zhang successively served as a senior staff member, principal staff member and deputy director of Tian Li International Company Limited. He then successively served in several positions with China Tobacco Import & Export Corporation* (中國煙草進出口總公司), including a deputy director of the accounting department and a deputy director of the finance department, from April 1996 to June 2001. Mr. Zhang then served as the director of the financial management department of China Tobacco Import & Export (Group) Corporation* (中國煙草進出口(集團)公司) from June 2001 to October 2007. From October 2007 to June 2009, he served as the director of the financial management department and from June 2009 to June 2018 as chief accountant of China Tobacco International Inc. From April 2017 to June 2018, Mr. Zhang served as the general manager of Tian Li International Company Limited.

Mr. Zhang obtained his qualification as a senior accountant granted by STMA in May 2007. Mr. Zhang graduated from an undergraduate program in industrial economics from First Branch of Renmin University in July 1984. Mr. Zhang obtained a master’s degree of enterprise management from Beijing Normal University School in June 2009.

Ms. YANG Xuemei (楊雪梅),  joined us in October 2018 as the Vice General Manager of our Company and has been our executive Director since December 2018.

From July 1992 to June 1995, Ms. Yang worked at Kunming Machine Tool Company Limited* (昆明機床股份有限公司). She then worked at Yuxi Cigarette Factory* (玉溪捲煙廠) from June 1995 to February 1999 and at Yunnan Hongta Import & Export Company Limited* (雲南紅塔進出口有限公司) from February 1999 to January 2003. From January 2003 to January 2007, Ms. Yang successively served as a section chief of overseas investment management division, an assistant of manager and deputy manager at Hongta International Company Limited* (紅塔國際公司). From January 2007 to September 2018, Ms. Yang successively served as the vice general manager, general manager and chairman of Yunnan Tobacco International Company Limited* (雲南煙草國際有限公司).

Ms. Yang became a senior economist awarded by CNTC, our ultimate controlling shareholder, in August 2014. Ms. Yang obtained a bachelor’s degree of engineering from North University of China (formerly known as Taiyuan Institute of Mechanical) in July 1992, and a master’s degree of economics from Yunnan University in April 2007. Ms. Yang also obtained an MBA degree from University of Chicago Booth School of Business in March 2010.

Mr. WANG Chengrui (王成瑞),  has been the deputy manager of the securities department of our Company since April 2018, our joint company secretary since July 2018 and our executive Director since December 2018.

Prior to joining our Company, Mr. Wang served as a marketing assistant from July 2005 to July 2009 and a management staff of employees’ career development at the human resource department of Yunnan Hongta Group* (雲南紅塔集團) from July 2009 to March 2013. From March 2013 to September 2016, Mr. Wang worked for the tobacco economy information centre of STMA as a principal staff member. He then served as a principal staff member of the investment department of China Tobacco International Inc. from September 2016 to June 2017 and as a deputy manager of the planning development department of Tian Li International Company Limited from May 2017 to June 2018.

Mr. Wang obtained two bachelor’s degrees in economics and software engineering from Yunnan University in July 2005. He also obtained an MBA degree from Yunnan University in December 2012.

Mr. CHOW Siu Lui (鄒小磊), has been appointed as our independent non-executive Director since December 2018.

Mr. Chow has a wealth of experience in fund raising and initial public offering activities in Hong Kong and in accounting and financial areas. He is currently a partner of VMS Investment Group (HK) Limited and is responsible for its private equities activities.

Mr. Chow joined KPMG Hong Kong in July 1983 and was admitted as a partner in July 1995. In 2010, Mr. Chow participated in the review of the Code on Corporate Governance Practices issued by the Stock Exchange as a member of the listing committee. He retired from KPMG Hong Kong in December 2011. He worked at VMS Investment Group (HK) Ltd. as a director manager of the private equity department since April 2012 and is a partner currently. He served as an independent non-executive director of Fullshare Holdings Limited, a company listed on the Stock Exchange (Stock Code: 00607), since December 2013, an independent non-executive director of Genertec Universal Medical Group Company Limited, a company listed on the Stock Exchange (Stock Code: 2666), since June 2015, an independent non-executive director of Shanghai Dazhong Public Utilities (Group) Co.Ltd., a company listed on the Stock Exchange (Stock Code: 1635), since April 2016, an independent non-executive director of Futong Technology Development Holdings Limited, a company listed on the Stock Exchange (Stock Code: 0465), since December 2016 and an independent non-executive director of China Everbright Greentech Limited, a company listed on the Stock Exchange (Stock Code: 1257), since May 2017. He also served as an independent non-executive director of Sinco Pharmaceuticals Holdings Limited, a company listed on the Stock Exchange (Stock Code: 6833), from September 2015 to November 2018.

Mr. Chow obtained his qualification as a fellow of the Association of Chartered Certified Accountants (英國特許公認會計師公會) in July 1991, the Hong Kong Institute of Certified Public Accountants (香港會計師公會) (the “HKICPA”, formerly known as the Hong Kong Society of Accountants) in December 1993, the Hong Kong Institute of Chartered Secretaries (香港特許秘書公會) (the “HKICS”) in 2009, and the Institute of Chartered Secretaries and Administrators (英國特許秘書及行政人員公會) in 2009. Mr. Chow was appointed as the chairman of the mainland development strategies advisory panel and a member of the registration and practicing committee of the HKICPA for the year 2016 in February 2016. Mr. Chow was appointed as a council member and chairman of audit committee of the HKICS in December 2015. He obtained a professional diploma in accountancy from Hong Kong Polytechnic University (formerly known as Hong Kong Polytechnic) in November 1983.

Mr. WANG Xinhua (王新華), has been appointed as our independent non-executive Director since December 2018.

Mr. Wang has more than 14 years of experience in financial management of PRC state-owned enterprises and Hong Kong listed companies. He has rich experience in listing compliance matters and providing financial advices to listed companies.

Prior to joining our Company, Mr. Wang served as director of the financial planning department of China Petrochemical Corporation* (中國石化集團公司), from November 2004 to April 2009. He worked as the chief financial officer at the China Petroleum & Chemical Corporation, a company listed on the Stock Exchange (Stock Code: 0386), the Shanghai Stock Exchange (Stock Code: 600028), the New York Stock Exchange (Stock Code: SNP), and the London Stock Exchange (Stock Code: SNP), from May 2009 to December 2015. He also served as an independent director of Guizhou Jiulian Industrial Explosive Materials Development Company Limited, a company listed on the Shenzhen Stock Exchange (Stock Code: 002037), since March 2016, an independent director of Guizhou Yibai Pharmaceutical Company Limited* (貴州益佰製藥股份有限公司), a company listed on the Shanghai Stock Exchange (Stock Code: 600594), since September 2016, an independent director of Xinjiang Zhongtai Chemical Company Limited* (新疆中泰化學股份有限公司), a company listed on the Shenzhen Stock Exchange (Stock Code: 002092), since January 2017, and an independent director of China Petroleum Engineering Company Limited* (中國石油集團工程股份有限公司), a company listed on the Shanghai Stock Exchange (Stock Code: 600339), since September 2017.

Mr. Wang obtained a bachelor’s degree from Northeastern University in the PRC in July 1996 and was a professor-level senior accountant granted by Sinopec Group in January 2004.

Mr. CHAU Kwok Keung (鄒國強), has been appointed as our independent non-executive Director since December 2018.

Mr. Chau has more than 15 years of experience in accounting and financial management.

Prior to joining our Company, Mr. Chau worked at Andersen & Co. from January 2001 to June 2002 as a senior consultant. He then worked as financial controller at Shanghai Hawei New Material and Technology Co., Ltd.. From August 2003 to April 2005, he served as deputy group financial controller at China South City Holdings Limited, a company listed on the Stock Exchange (Stock Code: 1668). From October 2005 to October 2007, he served as chief financial officer at China.com Inc., a company listed on the Stock Exchange (Stock Code: 8006). He also worked at Comtec Solar Systems Group Limited, a company listed on the Stock Exchange (Stock Code: 712), since November 2007, and severed as an executive director, the chief financial officer and company secretary since June 2008. He served as a member of the supervisory board of RIB Software AG from May 2010 to June 2013. From May 2014 to May 2019, he served as an independent non-executive director and chairman of the audit committee of Qingdao Port International Company Limited, a company listed on the Stock Exchange (Stock Code: 06198) and the Shanghai Stock Exchange (Stock Code:601298). He has been an independent director of The9 Limited, a company listed on the Nasdaq Stock Market (Stock Code: NCTY), since October 2015, and an independent non-executive director and the chairman of the audit committee of the China Xinhua Education Group Limited, a company listed on the Stock Exchange (Stock Code: 02779), since October 2017.

Mr. Chau obtained a bachelor’s degree in business management from the Chinese University of Hong Kong in May 1998. He was qualified as a chartered financial analyst of the Chartered Financial Analyst Institute since September 2003, a member of the Hong Kong Institute of Certified Public Accountants since July 2005, a member of the Association of Chartered Certified Accountants (ACCA) since June 2006 and obtained the professional qualification of independent director recognized by the Shanghai Stock Exchange in August 2017.

Mr. QIAN Yi (錢毅), aged 65, has been appointed as our independent non-executive Director since 17 May 2019.

Mr. Qian has 35 years of experience in enterprise management and nine years of experience in the tobacco industry.

Mr. Qian has 35 years of experience in enterprise management and nine years of experience in the tobacco industry. Prior to joining our Company, Mr. Qian successively served as the general manager and then concurrently a director of Nanyang Brothers Tobacco Co., Ltd. (“Nanyang Tobacco”), a Hong Kong-based cigarettes manufacturer who sells different kinds of cigarettes products in various regions including Hong Kong and Macau and a wholly owned subsidiary of Shanghai Industrial Holdings Limited (Stock Code: 363), from September 2008 until his retirement in May 2017. He successively served as a deputy chief executive officer, and an executive director and deputy chief executive officer of Shanghai Industrial Holdings Limited in Hong Kong from November 2009 to February 2014. In addition, Mr. Qian served as a director of The Wing Fat Printing Company, Limited in Hong Kong from May 2009 to June 2013 and as a director of Shanghai Industrial Investment (Holdings) Co., Ltd. in Hong Kong from July 2012 to February 2014, respectively. Mr. Qian also served as a visiting professor at the University of Shanghai for Science and Technology and Shanghai Publishing and Printing College, respectively, from November 2012.

Mr. Qian graduated from a postsecondary program in management engineering of Shanghai Jiaotong University in January 1983, an undergraduate program in enterprise management of Fudan University in July 1995 and a graduate program in economics of East China Normal University in July 2000. Mr. Qian obtained his qualification as a senior economist granted by Shanghai Municipal Qualification Reform Work Leading Team (上海市職稱改革工作領導小組) in December 1992.

Mr. Cheung Kai Cheong Willie (張啟昌), has been appointed as one of our joint company secretaries since December 2018.

Mr. Cheung has more than 19 years of professional experiences in company secretarial, accounting and finance matters. Mr. Cheung worked as a manager of SW Corporate Services Group Limited mainly responsible for assisting listed companies in professional company secretarial work since April 2017. Prior to joining SW Corporate Services Group Limited, Mr. Cheung served as the vice finance manager of Luk Hing Entertainment Group Holdings Limited, a company listed on the Stock Exchange (Stock Code: 8052) from December 2014 to February 2016. He served as the company secretary and finance manager of CMMB Vision Holdings Limited, a company listed on the Stock Exchange (Stock Code: 0471) from July 2008 to June 2014. Mr. Cheung served as an audit assistant of Elina Hung & Co. from September 1996 to November 1997, an audit manager of Li, Tang, Chen & Co. from January 1998 to June 2006 and an audit senior of BDO McCabe Lo Limited from June 2006 and June 2008.

Mr. Cheung became a fellow member of the Hong Kong Institute of Certified Public Accountants in January 2009 and a fellow member of the Association of Chartered Certified Accountants in the United Kingdom in October 2008. Mr. Cheung obtained a Bachelor Degree of Arts (Honors) in Accounting and Finance at the University of Glamorgan in the U.K. in June 1996.

Senior Management

Mr. ZHANG Hongshi

Senior Management

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Hongshi (張宏實), has been our executive Director since February 2018, and was appointed as the General Manager of our Company in June 2018.

Prior to joining our Company, Mr. Zhang served as a staff member of the financial pricing department of CNTC from August 1984 to January 1987. From January 1987 to October 1991, Mr. Zhang served as a staff member and senior staff member of the financial pricing department of CNTC and a senior staff member of the general office of China Tobacco Import & Export Corporation* (中國煙草進出口總公司). From October 1991 to April 1996, Mr. Zhang successively served as a senior staff member, principal staff member and deputy director of Tian Li International Company Limited. He then successively served in several positions with China Tobacco Import & Export Corporation* (中國煙草進出口總公司), including a deputy director of the accounting department and a deputy director of the finance department, from April 1996 to June 2001. Mr. Zhang then served as the director of the financial management department of China Tobacco Import & Export (Group) Corporation* (中國煙草進出口(集團)公司) from June 2001 to October 2007. From October 2007 to June 2009, he served as the director of the financial management department and from June 2009 to June 2018 as chief accountant of China Tobacco International Inc. From April 2017 to June 2018, Mr. Zhang served as the general manager of Tian Li International Company Limited.

Mr. Zhang obtained his qualification as a senior accountant granted by STMA in May 2007. Mr. Zhang graduated from an undergraduate program in industrial economics from First Branch of Renmin University in July 1984. Mr. Zhang obtained a master’s degree of enterprise management from Beijing Normal University School in June 2009.

Ms. YANG Xuemei

Senior Management

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Ms. YANG Xuemei (楊雪梅),  joined us in October 2018 as the Vice General Manager of our Company and has been our executive Director since December 2018.

From July 1992 to June 1995, Ms. Yang worked at Kunming Machine Tool Company Limited* (昆明機床股份有限公司). She then worked at Yuxi Cigarette Factory* (玉溪捲煙廠) from June 1995 to February 1999 and at Yunnan Hongta Import & Export Company Limited* (雲南紅塔進出口有限公司) from February 1999 to January 2003. From January 2003 to January 2007, Ms. Yang successively served as a section chief of overseas investment management division, an assistant of manager and deputy manager at Hongta International Company Limited* (紅塔國際公司). From January 2007 to September 2018, Ms. Yang successively served as the vice general manager, general manager and chairman of Yunnan Tobacco International Company Limited* (雲南煙草國際有限公司).

Ms. Yang became a senior economist awarded by CNTC, our ultimate controlling shareholder, in August 2014. Ms. Yang obtained a bachelor’s degree of engineering from North University of China (formerly known as Taiyuan Institute of Mechanical) in July 1992, and a master’s degree of economics from Yunnan University in April 2007. Ms. Yang also obtained an MBA degree from University of Chicago Booth School of Business in March 2010.

Mr. WANG Chengrui

Senior Management

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Mr. WANG Chengrui (王成瑞),  has been the deputy manager of the securities department of our Company since April 2018, our joint company secretary since July 2018 and our executive Director since December 2018.

Prior to joining our Company, Mr. Wang served as a marketing assistant from July 2005 to July 2009 and a management staff of employees’ career development at the human resource department of Yunnan Hongta Group* (雲南紅塔集團) from July 2009 to March 2013. From March 2013 to September 2016, Mr. Wang worked for the tobacco economy information centre of STMA as a principal staff member. He then served as a principal staff member of the investment department of China Tobacco International Inc. from September 2016 to June 2017 and as a deputy manager of the planning development department of Tian Li International Company Limited from May 2017 to June 2018.

Mr. Wang obtained two bachelor’s degrees in economics and software engineering from Yunnan University in July 2005. He also obtained an MBA degree from Yunnan University in December 2012.

Mr. WANG Zhiyu

Senior Management

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Mr. WANG Zhiyu (王治宇), has been the deputy manager of our cigarette department since he joined our Company in April 2018. Mr. Wang is primarily in charge of the cigarette department.

Prior to joining our Company, Mr. Wang served as staff member, senior staff member and principal staff member, successively, of the market development department at China Tobacco International Inc. from July 2008 to June 2017. From May 2017 to June 2018, he worked at the market development department of Tian Li International Company Limited as a deputy manager.

Mr. Wang obtained a bachelor’s degree of commodity science from Renmin University in July 2006 and a master’s degree of enterprise management from Renmin University in July 2008.

Mr. YUAN Pengyu

Senior Management

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Mr. YUAN Pengyu (袁鵬宇), has been the deputy manager of financial management department since he joined our Company in April 2018. Mr. Yuan is primarily in charge of our finance management.

Prior to joining our Company, Mr. Yuan served as a staff member, a senior staff member and a principal staff member, successively, of the financial management department at China Tobacco International Inc. from July 2009 to February 2017. From December 2016 to June 2018, he worked at the financial management department of Tian Li International Company Limited as a deputy manager.

Mr. Yuan obtained a bachelor’s degree of management from the International Business School of University of International Business and Economics in Beijing in July 2009.

Hongshi (張宏實), has been our executive Director since February 2018, and was appointed as the General Manager of our Company in June 2018.

Prior to joining our Company, Mr. Zhang served as a staff member of the financial pricing department of CNTC from August 1984 to January 1987. From January 1987 to October 1991, Mr. Zhang served as a staff member and senior staff member of the financial pricing department of CNTC and a senior staff member of the general office of China Tobacco Import & Export Corporation* (中國煙草進出口總公司). From October 1991 to April 1996, Mr. Zhang successively served as a senior staff member, principal staff member and deputy director of Tian Li International Company Limited. He then successively served in several positions with China Tobacco Import & Export Corporation* (中國煙草進出口總公司), including a deputy director of the accounting department and a deputy director of the finance department, from April 1996 to June 2001. Mr. Zhang then served as the director of the financial management department of China Tobacco Import & Export (Group) Corporation* (中國煙草進出口(集團)公司) from June 2001 to October 2007. From October 2007 to June 2009, he served as the director of the financial management department and from June 2009 to June 2018 as chief accountant of China Tobacco International Inc. From April 2017 to June 2018, Mr. Zhang served as the general manager of Tian Li International Company Limited.

Mr. Zhang obtained his qualification as a senior accountant granted by STMA in May 2007. Mr. Zhang graduated from an undergraduate program in industrial economics from First Branch of Renmin University in July 1984. Mr. Zhang obtained a master’s degree of enterprise management from Beijing Normal University School in June 2009.

Ms. YANG Xuemei (楊雪梅),  joined us in October 2018 as the Vice General Manager of our Company and has been our executive Director since December 2018.

From July 1992 to June 1995, Ms. Yang worked at Kunming Machine Tool Company Limited* (昆明機床股份有限公司). She then worked at Yuxi Cigarette Factory* (玉溪捲煙廠) from June 1995 to February 1999 and at Yunnan Hongta Import & Export Company Limited* (雲南紅塔進出口有限公司) from February 1999 to January 2003. From January 2003 to January 2007, Ms. Yang successively served as a section chief of overseas investment management division, an assistant of manager and deputy manager at Hongta International Company Limited* (紅塔國際公司). From January 2007 to September 2018, Ms. Yang successively served as the vice general manager, general manager and chairman of Yunnan Tobacco International Company Limited* (雲南煙草國際有限公司).

Ms. Yang became a senior economist awarded by CNTC, our ultimate controlling shareholder, in August 2014. Ms. Yang obtained a bachelor’s degree of engineering from North University of China (formerly known as Taiyuan Institute of Mechanical) in July 1992, and a master’s degree of economics from Yunnan University in April 2007. Ms. Yang also obtained an MBA degree from University of Chicago Booth School of Business in March 2010.

Mr. WANG Chengrui (王成瑞),  has been the deputy manager of the securities department of our Company since April 2018, our joint company secretary since July 2018 and our executive Director since December 2018.

Prior to joining our Company, Mr. Wang served as a marketing assistant from July 2005 to July 2009 and a management staff of employees’ career development at the human resource department of Yunnan Hongta Group* (雲南紅塔集團) from July 2009 to March 2013. From March 2013 to September 2016, Mr. Wang worked for the tobacco economy information centre of STMA as a principal staff member. He then served as a principal staff member of the investment department of China Tobacco International Inc. from September 2016 to June 2017 and as a deputy manager of the planning development department of Tian Li International Company Limited from May 2017 to June 2018.

Mr. Wang obtained two bachelor’s degrees in economics and software engineering from Yunnan University in July 2005. He also obtained an MBA degree from Yunnan University in December 2012.

Mr. WANG Zhiyu (王治宇), has been the deputy manager of our cigarette department since he joined our Company in April 2018. Mr. Wang is primarily in charge of the cigarette department.

Prior to joining our Company, Mr. Wang served as staff member, senior staff member and principal staff member, successively, of the market development department at China Tobacco International Inc. from July 2008 to June 2017. From May 2017 to June 2018, he worked at the market development department of Tian Li International Company Limited as a deputy manager.

Mr. Wang obtained a bachelor’s degree of commodity science from Renmin University in July 2006 and a master’s degree of enterprise management from Renmin University in July 2008.

Mr. YUAN Pengyu (袁鵬宇), has been the deputy manager of financial management department since he joined our Company in April 2018. Mr. Yuan is primarily in charge of our finance management.

Prior to joining our Company, Mr. Yuan served as a staff member, a senior staff member and a principal staff member, successively, of the financial management department at China Tobacco International Inc. from July 2009 to February 2017. From December 2016 to June 2018, he worked at the financial management department of Tian Li International Company Limited as a deputy manager.

Mr. Yuan obtained a bachelor’s degree of management from the International Business School of University of International Business and Economics in Beijing in July 2009.

Board Committees

Audit Committee

We have established an audit committee with written terms of reference. The Audit Committee consists of three members, namely Mr. Chow Siu Lui, Mr. Wang Xinhua and Mr.Chau Kwok Keung, with Mr. Chow Siu Lui being the chairman of the committee possessing the appropriate accounting or related financial management expertise. The primary duties ofthe Audit Committee include:

  • making recommendations to the Board on the appointment, reappointment and removal of external auditors, approving the remuneration and terms of engagement of external auditors, and dealing with any issues in relation to resignation or dismissal of external auditors;
  • reviewing and monitoring external auditors’ independence and objectivity and the effectiveness of the audit process in accordance with applicable standards, discussing with auditors on the nature and scope of the audit work and reporting obligations before the audit commences, and ensuring coordination between auditing firms, if more than one auditing firm is involved;
  • developing and implementing policies with respect to the non-audit work provided by external auditors;
  • examining the completeness of our financial statements and our quarterly, interim and annual reports, and reviewing critical financial reporting judgments contained therein;
  • overseeing our financial reporting, risk management and internal control systems; and
  • other matters required by laws, administrative regulations, departmental rules and authorized by the Board.

Term of Reference of Audit Committee
Remuneration Committee

We have established a remuneration committee with written terms of reference. The Remuneration Committee consists of three members, namely Mr. Chow Siu Lui, Mr. Shao Yan and Mr. Wang Xinhua, with Mr. Chow Siu Lui being the chairman of the committee. The primary duties of the Remuneration Committee include:

  • making recommendations to the Board on the compensation remuneration packages of individual executive Directors and senior management and on the compensation of non-executive Director;
  • making recommendations to the Board on the management’s remuneration proposals;
  • ensuring that no Director or any of his/her associates is involved in deciding his/her own remuneration;
  • developing policies and structure for remuneration of all Directors, senior management and employees including salaries, incentive schemes and other share option schemes, and making recommendations to the Board;
  • making recommendations to the Board on disclosure with respect to Directors’ remuneration included in the annual report
  • making recommendations to the Board on whether the Shareholders shall be requested to approve the report on Directors’ remuneration at the annual general meeting of our Company;
  • reporting to the Board on its decisions or recommendations, unless there are legal or regulatory restrictions; and
  • other matters required by laws, administrative regulations, departmental rules and authorized by the Board.

Term of Reference of Remuneration Committee
Nomination Committee

We have established a nomination committee with written terms of reference. The Nomination Committee consists of three members, namely Mr. Shao Yan, Mr. Chow Siu Lui and Mr. Wang Xinhua, with Mr. Shao Yan being the chairman of the committee. The primary functions of the Nomination Committee include:

  • reviewing the structure, size and composition of the Board at least annually and making recommendations on any proposed changes to the Board of Directors to complement the Company’s corporate strategy
  • identifying individuals suitably qualified to become Board members and making recommendations to the Board;
  • assessing the independence of independent non-executive Directors;
  • making recommendations to the Board on the appointment and succession planning of Directors;
  • reporting to the Board on its decisions or recommendations, unless there are legal or regulatory restrictions; and
  • other matters required by laws, administrative regulations, departmental rules and authorized by the Board.

Term of Reference of Nomination Committee
Connected Transactions Control Committee

We have established a Connected Transactions Control Committee with written terms of reference. The Connected Transactions Control Committee consists of four members, namely Mr. Wang Xinhua, Mr. Chau Kwok Keung, Mr. Zhang Hongshi and Mr. Qian Yi, with Mr. Wang Xinhua being the chairman of the committee. The primary functions of the Connected Transactions Control Committee include:

  • managing matters related to connected transactions, reviewing the management system for connected transactions, conducting duties as required by the Rules for the Management of Connected Transactions, supervising its implementation and making recommendations to the Board;
  • reviewing material connected transactions required to be approved by the Board or Shareholders and submitting recommendations to the Board;
  • reviewing and approving our connected transactions and other related matters to the extent authorized by the Board;
  • providing information for the independent non-executive Directors and auditors to perform their periodic review of the connected transactions;
  • reviewing those factors considered for determining the prices in the Non-STMA Pricing Transactions and ensuring that the Non-STMA Pricing Transactions are conducted on normal commercial terms; and
  • other matters required by laws, administrative regulations, departmental rules and authorized by the Board.
Strategic Development Committee

We have established a Strategic Development Committee with written terms of reference. The Strategic Development Committee consists of four members, namely Mr. Shao Yan, Mr. Zhang Hongshi, Ms. Yang Xuemei and Mr. Chow Siu Lui, with Mr. Shao Yan being the chairman of the committee. The primary functions of the Strategic Development Committee include:

  • reviewing and making recommendations to the Board on, our business objectives, general strategic development plan and specific strategic development plans of our Company;
  • evaluating factors which may affect our strategic development plans and their implementation, in light of domestic and foreign economic and financial conditions and market development trends, and making recommendations to the Board on adjustment to our strategic development plans in a timely manner;
  • evaluating the general development conditions relating to our each businesses segment, and making recommendations to the Board on adjustment to our strategic development plans in a timely manner;
  • reviewing our major investment and financing proposals, and making recommendations to the Board;
  • supervising and inspecting the implementation of our business plans and investment plans of our Company;
  • reviewing proposals for our annual financial budget and final accounts and making recommendations to the Board;
  • reviewing our plans for establishment of a legal entity or merger and acquisition proposals, and making recommendations to the Board;
  • reviewing our matters on acquisition of assets, disposal of assets and provision of guarantees, and making recommendations to the Board; and
  • other matters required by laws, administrative regulations, departmental rules and authorized by the Board.

Board Committees

Directors Audit Committee Remuneration Committee Nomination Committee Connected Transactions Control Committee Strategic Development Committee
SHAO Yan M C C
ZHANG Hongshi M M
YANG Xuemei M
WANG Chengrui
CHOW Siu Lui C C M M
CHAU Kwok Keung M M
WANG Xinhua M M M C
QIAN Yi M


C Chairman M Member

Contact Us

Contact Person : Charles Li

Email : ir@ctihk.com.hk

Address : Room 1901, Greenfield Tower, Concordia Plaza, 1 Science Museum Road, Tsim Sha Tsui East, Kowloon, Hong Kong