On 30 September 2026, Mingfa Group (International) Company Limited confirmed a planned leadership change that will see Dr. Lam Lee G. step down as Non-Executive Director and Chairman of the Board, and Executive Director Walter Ng assume the chairmanship effective the same date.
Dr. Lam’s resignation is attributed to his intention to devote more time to other business pursuits. The Board reported no disagreements with Dr. Lam and noted that no matters require shareholder or Stock Exchange attention in connection with his departure.
Walter Ng, aged 59, joined Mingfa Group as an Executive Director on 23 April 2020 and has served as one of the company’s two authorised representatives in Hong Kong. His career spans more than 30 years in financial markets and business administration, covering performance monitoring, financial budgeting, internal control development, and project-specific leadership across organisations ranging from 50 to over 10,000 employees in major Chinese cities.
Key terms of Mr. Ng’s existing service agreement as an Executive Director remain unchanged: • Initial term started 23 April 2020, automatically renewable annually after a two-year period unless terminated under agreement provisions. • Annual remuneration: HK$1.50 million, set with reference to qualifications, responsibilities, Company performance, and market conditions. No separate chairman service agreement will be executed. Mr. Ng holds independent non-executive directorships at Capital Industrial Financial Services Group Limited and Chiho Environmental Group Limited, both listed in Hong Kong. He has no disclosed shareholdings in Mingfa Group and no relationships with other directors, senior management, or substantial shareholders.
Following the changes, Mingfa Group’s Board comprises: • Executive Directors: Walter Ng (Chairman), Shang Xuan, and Huang Zhibin • Non-Executive Director: Chen Bihua • Independent Non-Executive Directors: Lau Kin Hon, Chu Kin Wang Peleus, and Chan Sing Lai
The Board expressed gratitude to Dr. Lam for his service and congratulated Mr. Ng on his expanded role, highlighting expectations for continued business growth under the new leadership structure.