UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 2, 2021, Mr. Jin Wang tendered his resignation as a director, a member of the Nominating and Corporate Governance Committee, the Audit Committee and the Compensation Committee of Code Chain New Continent Limited (the “Company”), effective September 2, 2021. Mr. Wang’s resignation was not a result of any disagreement with the Company’s operations, policies or procedures.
On September 2, 2021, approved by the Board of Directors, the Nominating and Corporate Governance Committee and the Compensation Committee, Mr. Siyang Hu was appointed as a director, a member of the Nominating and Corporate Governance Committee, the Audit Committee and the Compensation Committee of the Company, effective September 2, 2021.
The Board has determined that Mr. Siyang Hu independent within the meaning of Nasdaq Listing Rule 5605(a)(2).
The biographical information of Mr. Hu is set forth below:
Mr. Siyang Hu, age 38, is the Chief Operating Officer of Highsharp, an electronics company in China. Mr. Hu has been engaged in the electrical engineer and semi-conductor technology for more than ten years and has held senior management positions in many companies. He has served as the Chief Operating Officer of Highsharp since 2016 and sales manager at Samsung (Shanghai) between 2008 and 2010. His responsibilities at Highsharp include the day-to-day management of the Shenzhen branch, market survey of client needs, supplier development and maintenance and product manufacturing.
Mr. Hu does not have a family relationship with any director or executive officer of the Company. He has not been involved in any transaction with the Company during the past two years that would require disclosure under Item 404(a) of Regulation S-K.
Mr. Hu accepted an offer letter from the Company and agreed to receive an annual compensation of $10,000, effective September 2, 2021. The offer letter is qualified in its entirety by reference to the complete text of the agreement, which is filed hereto as Exhibits 10.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |
| 10.1 | Director Offer Letter between Code Chain New Continent Limited and Siyang Hu, dated September 2, 2021 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CODE CHAIN NEW CONTINENT LIMITED | ||
| Date: September 2, 2021 | By: | /s/ Weidong (David) Feng |
| Name: | Weidong (David) Feng | |
| Title: | Co-CEO | |
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