Yusys Technologies announced on September 30 that its actual controller, chairman and general manager Hong Weidong passed away on September 29, 2026. On the same day, the company held the 16th meeting of its fourth board of directors, electing co-founder, director and deputy general manager Wu Hong as chairman, and appointing her as general manager. Hong Weidong was the founder of Yusys Technologies. The 2025 annual report showed he was 60 years old. As of the end of June 2026, he indirectly held 24.03% of the listed company's shares through Zhuhai Yuqin Hongtai Venture Capital Group. The relevant procedures for his company shares will be handled in accordance with laws and regulations. Successor Wu Hong was born in September 1970 and holds a master's degree from Tsinghua University. She is the spouse of Hong Weidong, does not directly or indirectly hold company shares, has no related-party relationships with other shareholders holding more than 5% of the company's shares, directors, supervisors or senior management, has not been penalized by the China Securities Regulatory Commission or other relevant authorities, has not been disciplined by stock exchanges, and is not a dishonest judgment debtor. The company said that after Hong Weidong's passing, the number of board members has not fallen below the minimum required by the Company Law. The board and senior management are performing their duties normally, operations are normal, and the company will complete the industrial and commercial registration changes for the legal representative and general manager as soon as possible.
Yusys Technologies Co Ltd Class AFounder/chairman Hong Weidong passed away and his spouse Wu Hong was appointed chairman and general manager; leadership succession with no clear positive or negative operational driver stated.
