Announcement • Apr 20

Broncus Holding Corporation Announces Changes to Its Board

The board of directors of Broncus Holding Corporation announced that, with effect from April 19, 2024: each of Mr. Michael Yi Wei Zhao (``Mr. Zhao'') and Mr. Guowei Zhan (``Mr. Zhan'') has resigned as a non-executive director of the Company; and Mr. Zhao has also resigned from his position as the chairman of the Board. Following the respective resignations of Mr. Zhao and Mr. Zhan, Mr. Hong Xu (``Mr. Xu''), an executive Director, has been appointed as the chairman of the Board with effect from April 19, 2024. Mr. Xu is responsible for participating in formulating the Company's corporate and business strategies. Further, the Board announced that it has resolved to nominate Ms. Yanhong Kuang (``Ms. Kuang'') as a non-executive Director and Dr. David Scott Lim (``Dr. Lim'') as an independent non-executive Director, after taking into account their respective prior work experience and their expected devotion to the Company in terms of time and effort. Taking into consideration of the diversity perspectives (including but not limited to gender, age, cultural and educational background, professional experience, length of services, skills and knowledge), the Board considered that both Ms. Kuang and Dr. Lim are capable to provide the Board with independent, balanced and objective opinion and judgement regarding the Company's affairs. Hence, the Board is satisfied that Ms. Kuang and Dr. Lim are of such character, integrity and experience commensurate with the office of a non-executive Director and an independent non-executive Director, respectively. Therefore, the Board announced that Ms. Kuang and Dr. Lim have been appointed as a non-executive Director and an independent non-executive Director, respectively, both with effect from April 19, 2024. Mr. Xu, aged 37, was appointed as an executive Director and the chief technology officer of the Company on May 6, 2021, and was also appointed as the chief executive officer and general manager of the Company on September 1, 2023. He joined the Group as the chief technology officer of Hangzhou Broncus Medical Co. Ltd. in February 2018, and is mainly involved in overall strategic planning, business direction and operational management. In June 2022, Mr. Xu obtained the Qualification Certificate issued by Zhejiang Province Human Resources and Social Security Department in the field of Medical Devices and obtained the title of Senior Engineer. Mr. Xu has over 13 years of industry experience. Prior to joining the Group, Mr. Xu served as the associate general manager at Shenzhen Chuangling Image Technology Co. Ltd., from September 2014 to February 2018 and held positions of manager of R&D, associate manager of R&D department and R&D engineer at APT Medical Inc. from July 2010 to March 2015. Mr. Xu obtained a bachelor's degree in polymer material and engineering from Sichuan University in Chengdu, China, in June 2010. Ms. Kuang, aged 42, has over 20 years of experience in the corporate audit and finance. Before joining the Group, Ms. Kuang has been the chief financial officer of Dinova Capital Limited since 2015 to the present. From 2012 to 2015, she was the senior financial manager of Shenzhen Sinoagri E-commerce Co. Ltd. In 2011, she served as the group financial reporting manager at LifeTech Scientific Corporation. Prior to that, she had worked as a senior auditor of financial services department at Ernst & Young Hua Ming LLP from 2004 to 2010. Ms. Kuang graduated with a bachelor's degree of management from Shanghai University of Finance and Economics in 2004. Dr. Lim, aged 55, has over 25 years of experience in the fields of cardiovascular medicine and pediatric cardiology. Prior to joining the Group, Dr. Lim has served as the director of the Advanced Cardiac Valve Center at the University of Virginia from 2009 to the present. Since 2018, he has held the position of Professor of Medicine & Pediatrics and been serving as a clinician educator with tenure in the departments of medicine & pediatrics at the University of Virginia. Previously, from 2014 to 2019, he also created heart valve programs at Bon Secours Health System in Richmond, Virginia, as well as at Chippenham Hospital, HCA, from 2020 to present. His academic career began with roles as an assistant professor and later as an associate professor of Medicine & Pediatrics at the University of Virginia from 2002 to 2018. Prior to that, he held positions as an assistant professor of Clinical Pediatrics at the University of Virginia from 2002 to 2005, a lecturer at the University of Michigan from 2001 to 2002, and an instructor in Pediatric Emergency Medicine at Wright State University School of Medicine from 1998 to 1999. Dr. Lim holds certification from the Sub-Board of Pediatric Cardiology since 2002 and active licensure in Virginia since 2002 and in Michigan since 1999. Since 2006, he has contributed to humanitarian collaborations with the International Hospital for Children, teaching pediatric cardiac catheterization skills to pediatric cardiologists in the Dominican Republic. Additionally, since 2007, he has been part of the UVA-Cedimat Rheumatic Heart Disease mission as a founder. Dr. Lim earned his bachelor's degree from the University of California at Santa Barbara in 1991 and a Doctor of Medicine from Mayo Medical School in 1996. Dr. Lim completed his pediatric internship and residency at Wright State University School of Medicine in Dayton, Ohio, from 1996 to 1999. He also undertook a pediatric cardiology fellowship at the University of Michigan, from 1999 to 2002. Following the resignation of Mr. Zhao as a non-executive director of the Company, a member of the Remuneration Committee and the chairman of the nomination committee of the Board, and the appointments of Ms. Kuang and Dr. Lim as a non-executive Director and an independent non-executive Director, respectively, the composition of the Board committees will be changed with effect from April 19, 2024 as follows: the audit committee of the Board will comprise of Dr. Pok Man Kam, Ms. Yee Sin Wong and Dr. Lim, with Dr. Pok Man Kam serving as the chairman to the Audit Committee; the Remuneration Committee will comprise of Ms. Yee Sin Wong, Dr. Pok Man Kam and Ms. Kuang, with Ms. Yee Sin Wong serving as the chairman to the Remuneration Committee; and the Nomination Committee will comprise of Mr. Xu, Ms. Yee Sin Wong and Dr. Lim, with Mr. Xu serving as the chairman to the Nomination Committee. The Board further announced that Mr. Zhao has resigned as an authorized representative of the Company for the purpose of the Rule 3.05 of the Listing Rules, and Mr. Xu has been appointed by the Company to, in place of Mr. Zhao, act as the Authorized Representative, both with effect from April 19, 2024.

CEO salary percentage	97.20%
CEO tenure	less than a year
CEO ownership	n/a
Management average tenure	no data
Board average tenure	2.8yrs

Date	Total Compensation	Salary	Company Earnings
Jun 30 2023	n/a	n/a	-US$27m
Mar 31 2023	n/a	n/a	-US$27m
Dec 31 2022	US$214k	US$208k	-US$28m
Sep 30 2022	n/a	n/a	-US$119m
Jun 30 2022	n/a	n/a	-US$209m
Mar 31 2022	n/a	n/a	-US$222m
Dec 31 2021	US$210k	US$170k	-US$236m

Name	Position	Tenure	Compensation	Ownership
Hong Xu	CEO & Executive Director	2.8yrs	US$214.00k	no data
Zhenjun Zi	Non Executive Director	10.1yrs	no data	1.77% $ 809.2k
Guowei Zhan	Non-Executive Director	2.8yrs	US$242.00k	no data
Ao Zhang	Non-Executive Director	2.9yrs	no data	no data
Yi Wei Zhao	Non-Executive Chairman	8.5yrs	US$100.00k	2.11% $ 965.9k
Pok Man Kam	Independent Non-Executive Director	2.5yrs	US$51.00k	no data
Yee Sin Wong	Independent Non-Executive Director	1.6yrs	US$17.00k	no data
Yiqian Huang	Independent Non-Executive Director	1.6yrs	no data	no data

Data	Last Updated (UTC time)
Company Analysis	2024/03/04 22:14
End of Day Share Price	2023/12/06 00:00
Earnings	2023/06/30
Annual Earnings	2022/12/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Analyst	Institution
null null	CMB International Securities Limited
Nico Chen	DBS Bank Ltd
Yinglong Pan	Goldman Sachs

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Broncus Holding Management

Management criteria checks 1/4

Key information

Recent management updates

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