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CN Energy Group Report: Leadership Changes in Audit Committee - December 2024

$CNEY
Form 6-K
Filed on: 2024-12-19
Source
CN Energy Group Report: Leadership Changes in Audit Committee - December 2024

Based on the provided section of the financial report, here are the key pieces of information and insights extracted:

  1. Company Information:
  • Name: CN Energy Group, Inc.
  • Address: Building 2-B, Room 206, No. 268 Shiniu Road, Liandu District, Lishui City, Zhejiang Province, The People's Republic of China.
  • SEC Filing Type: Form 6-K.
  • Commission File Number: 001-39978.
  • Report Date: December 19, 2024, covering events for the month of December 2024.
  1. Management Changes:
  • Resignation of Chairperson:
    • Jian Chen resigned as the Chairperson of the Audit Committee effective December 3, 2024.
    • It is noted that her resignation was not due to any disagreements regarding the Company’s operations, accounting policies, or practices, and she will remain an independent director on the Board.
  • Appointment of New Chairperson:
    • Mr. Ming Yi was nominated and approved as an independent director and the new Chairperson of the Audit Committee on December 12, 2024.
    • The Board has confirmed that Mr. Yi qualifies as an “independent director” as per NASDAQ Listing Rule 5605(a)(2).
  1. Background of Mr. Ming Yi:
  • Age: 44 years old.
  • Current Role: Chief Financial Officer at Future FinTech Group Inc. (NASDAQ: FTFT) since 2020.
  • Previous Experience:
    • Independent director and Chairperson of the Audit Committee at Hudson Capital Inc. (NASDAQ: HUSN) from 2020 to 2022.
    • Chief Financial Officer at SSLJ.com Ltd from 2018 to 2019.
    • Chief Financial Officer at Wave Sync Corp. (OTC: WAYS) from 2011 to 2018.
    • Senior Accountant at Ernst & Young from 2007 to 2010.
    • Accountant and supervisor at N.G. Australia Pty Ltd from 2003 to 2006.
  • Education: Bachelor Degree in Business from Liao Ning University and a Master of Business from Victoria University.
  • Certification: CPA Charter holder (CPA Australia).
  1. Implications:
  • The resignation of Jian Chen and the appointment of Mr. Ming Yi signal a transition in the leadership of the Audit Committee, which could impact the governance structure and oversight of financial practices within CN Energy Group.
  • Mr. Yi’s extensive experience in finance and previous roles in governance positions may enhance the credibility and effectiveness of the Audit Committee moving forward.

This information is crucial for stakeholders, including investors and analysts, to assess changes in governance and potential impacts on the company's financial reporting and oversight practices.