SHANGHAI, Aug. 19, 2024 — Santech Holdings Limited (“Santech”, or the “Company”) (NASDAQ: STEC), a consumer-focused technology company in China, announced that Vincent Chun Hung Chan has resigned as an independent director of the board of directors (the “Board”). The resignation is effective immediately and is due to personal reasons. The Company stated that Mr. Chan’s resignation was not the result of any disagreement with the Company regarding business operations, financial reporting, controls, policies, or practices.
Madame Wang Dian, Chief Executive Officer of Santech, commented, “On behalf of the Board, I would like to express our sincere gratitude to Mr. Chan for his valuable contributions to Santech. We wish him continued success in his future endeavors.”
Following Mr. Chan’s resignation, the Company’s board of directors will consist of four members: Mr. HAN Hongwei, Ms. WANG Dian, Mr. Joel A. GALLO, and Ms. CHEN Jie. Mr. GALLO and Ms. CHEN are independent directors.
About Santech Holdings Limited
Santech Holdings Limited (NASDAQ: STEC) is a consumer-focused technology company. The Company historically served a large number of high net-worth clients in China in financial services and health management, and accumulated a large customer base. The Company has exited or disposed of its historical businesses in financial services and is actively exploring innovative new opportunities in technology, including but not limited to new retail, social e-commerce, and metaverse. For more information, please visit .
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “anticipate,” “estimate,” “forecast,” “plan,” “project,” “potential,” “continue,” “ongoing,” “expect,” “aim,” “believe,” “intend,” “may,” “should,” “will,” “is/are likely to,” “could” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
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