Qilian International Director Resigns
Ticker: BGM · Form: 6-K · Filed: Jun 4, 2024 · CIK: 1779578
| Field | Detail |
|---|---|
| Company | Qilian International Holding Group LTD (BGM) |
| Form Type | 6-K |
| Filed Date | Jun 4, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $8,400, $700, $2,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: director-resignation, governance
TL;DR
Qilian Int'l director Song Gao out as of May 29th.
AI Summary
Qilian International Holding Group Ltd announced on May 29, 2024, that Ms. Song Gao resigned from her positions as a director, chairperson of the nominating and corporate governance committee, and a member of the compensation and audit committees, effective immediately. The company is a pharmaceutical preparations manufacturer based in Chengdu, China.
Why It Matters
The resignation of a director, especially one holding committee chair positions, can signal internal changes or strategic shifts within the company.
Risk Assessment
Risk Level: medium — Director resignations, particularly from committee leadership roles, can indicate underlying issues or instability within the company's governance structure.
Key Players & Entities
- Qilian International Holding Group Ltd (company) — The company filing the report.
- Ms. Song Gao (person) — Resigning director and committee chairperson.
- May 29, 2024 (date) — Date of resignation notification.
FAQ
What was the effective date of Ms. Song Gao's resignation?
Ms. Song Gao's resignation was effective immediately upon notification on May 29, 2024.
Which positions did Ms. Song Gao resign from?
Ms. Song Gao resigned as a director, the chairperson of the nominating and corporate governance committee, and a member of the compensation committee and the audit committee.
What is the primary business of Qilian International Holding Group Ltd?
Qilian International Holding Group Ltd is in the Pharmaceutical Preparations industry, SIC code 2834.
Where is Qilian International Holding Group Ltd's principal executive office located?
The company's principal executive office is located at No. 152 Hongliang East 1st Street, No. 1703, Tianfu New District, Chengdu, 610200, People's Republic of China.
Did Ms. Song Gao provide a reason for her resignation?
The filing states Ms. Gao advised that her resignation was d[ue to unspecified reasons], but the full reason is not detailed in the provided text.
Filing Stats: 1,314 words · 5 min read · ~4 pages · Grade level 8.8 · Accepted 2024-06-04 09:25:25
Key Financial Figures
- $8,400 — ill receive annual cash compensation of $8,400, payable in monthly installments of $70
- $700 — 400, payable in monthly installments of $700. Ms. Xu does not have a family relation
- $2,000 — will receive a monthly compensation of $2,000 in cash. Mr. Chen Xin is the son of Mr.
Filing Documents
- tm2416321d1_6k.htm (6-K) — 22KB
- tm2416321d1_ex10-1.htm (EX-10.1) — 33KB
- tm2416321d1_ex10-2.htm (EX-10.2) — 32KB
- tm2416321d1_ex10-3.htm (EX-10.3) — 63KB
- tm2416321d1_ex10-4.htm (EX-10.4) — 62KB
- 0001104659-24-068076.txt ( ) — 213KB
(a) of Regulation S-K
Item 404(a) of Regulation S-K. A copy of the director offer letter of Ms. Xu is attached hereto as exhibit 10.1. To fill in the vacancy created by the resignation of Mr. Liu, on May 31, 2024, the Board appointed Ms. Furong Cao to serve as a director of the Board, effective immediately. The following is the biographical information of Ms. Cao. Ms. Furong Cao, aged 54, is an experienced professional in business management. She has acquired a wealth of business management experience across a diverse range of industries, such as medical technology, pharmaceuticals, finance, and management consulting. Since July 2021, Ms. Cao has served as the director of operations of Shenzhen Financial Investment Service Co., Ltd., responsible for overseeing the investment strategies. From July 2017 to June 2021, Ms. Cao served as the business director of Shenzhen Beida Sequoia Business Management Co., Ltd., where she was responsible for financial project planning and investment risk assessment. Ms. Cao obtained her bachelor’s degree in Medical Profession from Shanghai Second Medical College in 1993. Ms. Cao will receive annual cash compensation of $8,400, payable in monthly installments of $700. Ms. Cao does not have a family relationship with any director or executive officer of the Company and has not been involved in any transaction with the Company during the past two years that would require disclosure under
(a) of Regulation S-K
Item 404(a) of Regulation S-K. A copy of the dicretor offer letter of Ms. Cao is attached hereto as exhibit 10.2. Change of CEO and CFO On May 31, 2024, Mr. Zhanchang Xin notified the Company of his resignation as the chief executive officer of the Company (the “ CEO ”), effective immediately. He has advised that his resignation was due to personal reasons and not a result of any disagreement with the Company on any matter related to the operations, policies, or practices of the Company. Mr. Zhanchang Xin will remain as the chairman of the Board of the Company. On May 31, 2024, Ms. Haiping Shi notified the Company of her resignation as the chief financial officer of the Company (the “ CFO ”), effective immediately. She has advised that her resignation was due to personal reasons and not a result of any disagreement with the Company on any matter related to the operations, policies, or practices of the Company. To fill in the vacancy created by the resignation of Mr. Zhanchang Xin, on May 31, 2024, the Board appointed Mr. Chen Xin to serve the CEO of the Company, effective immediately. The following is the biographical information of Mr. Chen Xin. Mr. Chen Xin, aged 31, was workding as an algorithm engineer at Geely Auti Holdings Limited from August 2022 to February 2024, where he led a team in developing perception algorithms for autonomous driving systems. From June 2021 to August 2022, he was an algorithm engineer at Shenzhen DJ Innovatives, where he engineered on image processing algorithms for autonomous driving vehicles. Mr. Xin obtained his bachelor’s degree in Physics from Sichuan University in 2016 and his master’s degree in Physics from National University of Singapore in 2019. Mr. Chen Xin will receive a monthly compensation of $2,000 in cash. Mr. Chen Xin is the son of Mr. Zhanchang Xin, and has not been involved in any transaction with the Company during the past two years that would require disclosure under I
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Dated: June 4, 2024 Qilian International Holding Group Ltd. By: /s/ Chen Xin Name: Chen Xin Title: Chief Executive Officer