New City Development Group Limited disclosed that Independent Non-Executive Director (INED) Zhang Jing resigned on 21 May 2026 to focus on other business commitments. His departure also ends his roles as chairman of the Audit Committee and member of the Nomination Committee. The Board confirmed Zhang Jing had no disagreements with management and no matters requiring shareholder attention.

Effective the same day, the company appointed Wong Kan Wai, aged 66, as an INED, chairman of the Audit Committee and member of the Nomination Committee. Wong holds a double-honours BA in Economics and Mathematics from Queen’s University Belfast and an MBA in Finance jointly awarded by The Chinese University of Hong Kong and Tsing Hua University, Beijing. A member of the Institute of Chartered Accountants in England and Wales, Wong’s previous experience includes senior positions at Henderson Land Development (Mainland operations), London-based audit work with Newman and Partners, and management at London and Global Limited.

Wong’s appointment is for a three-year term starting 21 May 2026. He will stand for re-election at the next annual general meeting and is subject to rotation under the Articles of Association. Annual director’s remuneration is set at HK$240,000, determined by the Board upon Remuneration Committee recommendation.

The company stated that Wong meets all independence requirements under Rule 3.13 of the Hong Kong Listing Rules, holds no shares in New City Development, and has no relationships with directors, senior management, substantial or controlling shareholders. No additional information is required to be disclosed under Rules 13.51(2)(h)–(v).

As of 21 May 2026, the Board comprises three executive directors—Han Junran (Chairman), Luo Min and Luo Zhen—and four independent non-executive directors—Ouyang Qingru, Wong Pak Wing, Lam Chi Cheung Albert and Wong Kan Wai.