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Chongqing Rural Commercial Bank Co ( (HK:3618) ) has provided an announcement.
Chongqing Rural Commercial Bank has disclosed that, following the death of an independent non-executive director, its board has been out of compliance with Hong Kong Listing Rules requiring at least three independent non-executive directors and that they comprise at least one-third of the board. The lender has nominated two new independent non-executive directors, whose appointments have been approved by shareholders but still await regulatory approval from the National Financial Regulatory Administration’s Chongqing office.
Because this regulatory vetting is still in progress, the bank has obtained an extension from the Hong Kong Stock Exchange to the grace period for restoring full board compliance, moving the deadline to 31 December 2026 from the original three-month window. Once the qualifications of the two candidates are cleared by the regulator, the bank expects to meet the board composition requirements under the Listing Rules, a step that will shore up its corporate governance framework and maintain its adherence to Hong Kong’s regulatory standards.