On January 7, Huabao International announced on the Hong Kong Stock Exchange that Zhu Linyao will resign as CEO with effect from January 7, 2026. Zhu Linyao will continue to serve as the company's executive director, chairman of the board of directors and chairman of the nomination committee. The Board of Directors announced that Xia Liqun has been appointed as CEO with effect from January 7, 2026. In addition, Xia Liqun will continue to serve as the company's executive director, vice chairman of the board of directors, president and a member of the remuneration committee.

On January 7, Huabao International announced on the Hong Kong Stock Exchange that Zhu Linyao will resign as CEO with effect from January 7, 2026. Zhu Linyao will continue to serve as the company's executive director, chairman of the board of directors and chairman of the nomination committee. The Board of Directors announced that Xia Liqun has been appointed as CEO with effect from January 7, 2026. In addition, Xia Liqun will continue to serve as the company's executive director, vice chairman of the board of directors, president and a member of the remuneration committee.