BitFuFu Inc. Board Changes: New Directors Appointed

TL;DR

BitFuFu Inc. shakes up its board with two new directors joining and one departing.

AI Summary

BitFuFu Inc. announced on August 3, 2024, the resignation of Mr. Yang Zhao from its Board of Directors, stating no disagreements. Concurrently, the Board appointed Mr. Huaiyu Liu and Mr. Joshua Kewei Cui as new directors, with Mr. Liu also appointed as an independent director.

Why It Matters

Changes in a company's board of directors can signal shifts in strategy, governance, or investor confidence.

Risk Assessment

Risk Level: low — This filing reports routine board changes without any indication of financial distress or significant operational issues.

Key Players & Entities

• BitFuFu Inc. (company) — Registrant
• Yang Zhao (person) — Resigned Director
• August 3, 2024 (date) — Effective date of resignation and appointments
• Huaiyu Liu (person) — Appointed Director and Independent Director
• Joshua Kewei Cui (person) — Appointed Director

FAQ

Filing Documents

• ea021060401-6k_bitfufu.htm (6-K) — 17KB
• ea021060401ex99-1_bitfufu.htm (EX-99.1) — 11KB
• 0001213900-24-065223.txt ( ) — 29KB

From the Filing

OF FOREIGN PRIVATE ISSUER UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN private IS SUER PURSUANT TO RULE 13a-16 OR 15d-16 under THE SECURITIES EXCHANGE ACT OF 1934 For the month of August 2024 Commission file number: 001-41972 BitFuFu Inc. (Exact Name of Registrant as Specified in Its Charter) 111 North Bridge Road, #15-01, Peninsula Plaza Singapore 179098 (Address of Principal Executive Office) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F Form 40-F Change in the Board of Directors Mr. Yang Zhao resigned from the Board of Directors (the “ Board ”) of BitFuFu Inc. (the “ Company ”), effective as of August 3, 2024. Mr. Zhao’s resignation from the Board was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Effective as of August 3, 2024, the Board appointed Mr. Huaiyu Liu and Mr. Joshua Kewei Cui to the Board. Mr. Huaiyu Liu has been appointed as an independent director, the chairman and a member of the audit committee of the Board, a member of the nominating and corporate governance committee of the Board and a member of the compensation committee of the Board. Mr. Joshua Cui has been appointed as an independent director and a member of the audit committee of the Board. The Board has determined that each of Mr. Cui and Mr. Liu as an independent director under the corporate governance standards of The Nasdaq Stock Market, the corporate governance guideline of the Company, and the applicable rules of the Securities Exchange Act of 1934, as amended (the “ Exchange Act ”). There are no arrangements or understandings between each of Mr. Liu and Mr. Cui and any other person pursuant to which each of Mr. Liu and Mr. Cui was selected as a director. There is no transaction in which the Company is a party and either Mr. Liu or Mr. Cui has a material interest subject to disclosure under Item 404(a) of Regulation S-K. Neither Mr. Liu nor Mr. Cui is a party to any material compensatory plan, contract or arrangement in which either of them is entitled of equity award or grant. Mr. Huaiyu Liu, aged 52, has served as the chief financial officer of YNBY International Limited (HKEx Stock Code: 00030), a company listed on the Main Board of the Hong Kong Stock Exchange, since June 2022, and as the company secretary since August 2022. He also has served as an independent non-executive director, the chairman of the audit committee and the chairman of the remuneration committee of Kafelaku Coffee Holding Limited (HKEx Stock Code: 01869), a company listed on the Main Board of the Hong Kong Stock Exchange, since November 2023. Mr. Liu has over 25 years of experience in finance and management, and had previously held senior posts with several publicly listed companies, including as the chief financial officer of V1 Group Limited from November 2018 to August 2019, as an executive director, executive vice president, and company secretary of Chiho Environmental Group Limited from October 2016 to April 2017, and as an executive director and the chief financial officer of Xinyuan Real Estate Company Limited from April 2015 to September 2016. Mr. Liu holds a degree of master of business administration from Cornell University, and a degree of bachelor of economics from Shenzhen University in China. He is a member of the Hong Kong Institute of Certified Public Accountants, and a member of the Institute of Chartered Accountants in England and Wales. 1 Mr. Joshua Kewei Cui, aged 40, has served as a co-founder and executive director of SOCC Capital Consultancy Pte Ltd, a regional corporate and advisory firm based in Singapore, specializing in corporate finance and reporting compliance services, since April 2022. From June 2022 to September 2023, Mr. Cui served as the chief financial officer of Ohmyhome Ltd, a Nasdaq listed company, and in such capacity, was primarily responsible for the overall accounting and financial management, project management, strategic planning, and internal control of that company. From May 2017 to August 2018, he served as the financial controller of K2 F&B Holdings Limited, a company listed on the Main Board of the Hong Kong Stock Exchange, and served as the chief financial officer from August 2018 to July 2021, where Mr. Cui was principally responsible for overall accounting and financial management, project management, strategic planning and internal control of that company. Mr. Cui began his career in auditing at one of the international accounting firms. He has more than a decade of finance and accounting related experience covering external audit, internal control and financial reporting in various industries. Mr. Cui graduated from Oxford Brookes University in the United Kingdom with a bachelor of science degree in applied acc

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