SMIC Chen Liwu resigns as non-executive director and re-election of Liang Mengsong as executive director

On the evening of June 22nd, SMIC reported that SMIC and Zhou Yihua did not stand for re-election as second-class directors of the company at the annual general meeting, and retired as independent non-executive directors of the company at the end of the annual general meeting. Chen Liwu also resigned as the Chairman of the Audit Committee of the Board of Directors, a member of the Remuneration Committee, a member of the Nomination Committee and a member of the Strategic Advisory Committee. Zhou Yihua also resigned as a member of the Nomination Committee of the Board of Directors.

In addition, SMIC's board of directors announced that Liu Zunyi has been appointed as the company's second category of independent non-executive directors, members of the remuneration committee, members of the nomination committee and members of the strategic advisory committee; Fan Renda has been appointed as the company's second category of independent non-executive directors, the audit committee Chairman and nomination committee members.

It is worth mentioning that at this annual general meeting, Dr. Chen Shanzhi was re-elected as a non-executive director; Mr. Lu Jun was re-elected as a non-executive director; Dr. Zhao Haijun was re-elected as an executive director; Dr. Liang Mengsong was re-elected as an executive director.

On October 16, last year, SMIC held an interim meeting of directors and formally announced that Liang Mengsong was appointed as the joint CEO of SMIC (Co-CEO). Together with Zhao Haijun, he opened the 'double CEO' system of the CEO of SMIC.

It is understood that Dr. Liang Mengsong has entered into a labor contract with SMIC, which stipulates terms to be appointed as a joint CEO. The proposed term of office is 3 years. Dr. Liang was appointed as the co-CEO and need not be re-elected by the shareholders. Retired in rotation. As the joint chief executive officer and executive director of SMIC, Dr. Liang is entitled to an annual cash remuneration of US$200,000 after taxation.