Epsium Enterprise Limited Announces Board Changes

Rhea-AI Summary

Epsium Enterprise (Nasdaq: EPSM) announced Board changes effective March 31–April 1, 2026: Mr. Kewei Joshua Cui resigned from the Board and its committees for personal reasons, and Mr. Chun Kit Wong was appointed as an independent director and named Chairperson of the Compensation Committee effective April 1, 2026.

Mr. Wong, age 39, brings finance and corporate finance experience, will serve on Audit, Compensation and Nominating Committees, receives annual cash compensation of USD $20,000, and is covered by an indemnification agreement; the Independent Director Agreement is filed as Exhibit 10.1 to the company filing.

Key Figures

Director age: 39 Director annual compensation: USD $20,000 Resignation effective date: March 31, 2026 +1 more

4 metrics

Director age 39 Age of new independent director Chun Kit Wong

Director annual compensation USD $20,000 Annual compensation under Independent Director Agreement

Resignation effective date March 31, 2026 Effective date of Mr. Cui’s resignation

Appointment effective date April 1, 2026 Effective date of Mr. Wong’s board and committee roles

Market Reality Check

Price: $1.3200 Vol: Volume 14,985 is far belo...

low vol

$1.3200 Last Close

Volume Volume 14,985 is far below the 20-day average of 304,723, indicating limited trading interest before this announcement. low

Technical Shares at $1.41 are trading well below the 200-day MA of $13.54 and are 99.09% below the 52-week high, despite being 35.19% above the 52-week low.

Peers on Argus

Sector peers showed mixed moves: MGPI down 0.54%, while SNDL, CASK, STKL, and BL...

1 Up 1 Down

Sector peers showed mixed moves: MGPI down 0.54%, while SNDL, CASK, STKL, and BLNE were up between low single digits and low double digits. With EPSM down 4.35% and only one momentum peer (BLNE) moving up, the action appears stock-specific rather than a coordinated sector move.

Historical Context

1 past event · Latest: Dec 05 (Negative)

Pattern 1 events

Date	Event	Sentiment	Move	Catalyst
Dec 05	Earnings update	Negative	-1.3%	Unaudited H1 2025 results with lower revenue and continued net loss.

Pattern Detected

Limited history shows a negative price reaction to prior earnings news that highlighted reduced revenue and losses.

Recent Company History

In the past six months, EPSM disclosed unaudited results for the six months ended June 30, 2025, emphasizing post-IPO balance-sheet strength but also showing lower revenue and continued losses. That earnings update on Dec 5, 2025 saw a -1.31% next-day move. Since then, regulatory filings detailed capital structure changes and a new subsidiary. Today’s board and committee reshuffle fits into ongoing governance and structural adjustments without new financial metrics.

Market Pulse Summary

This announcement outlines a board transition, with one director resigning and a new independent dir...

Analysis

This announcement outlines a board transition, with one director resigning and a new independent director joining key committees, including as Chairperson of the Compensation Committee, receiving USD $20,000 in annual compensation. In context, EPSM had already been trading well below its 200-day MA and 99.09% under its 52-week high, following earlier filings on capital structure and governance. Investors evaluating this news may focus on the new director’s finance background and how ongoing governance changes intersect with prior earnings and structural updates.

Key Terms

audit committee, compensation committee, nominating committee, nasdaq listing rules, +2 more

6 terms

audit committee financial

"has resigned from his positions as a member of the Board, the Audit Committee, the Compensation Committee"

A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.

compensation committee financial

"Audit Committee, the Compensation Committee, and the Nominating Committee of the Board, including as Chairperson"

A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.

nominating committee financial

"Audit Committee, the Compensation Committee, and the Nominating Committee of the Board"

A nominating committee is a small group of company directors tasked with finding, evaluating and recommending people to serve on the board. Think of it as a hiring panel that chooses the team responsible for guiding the business and holding management accountable. Investors care because the committee’s choices shape the board’s experience, independence and judgment, which directly affect strategy, oversight, leadership succession and the protection of shareholder interests.

nasdaq listing rules regulatory

"The Board has determined that Mr. Wong satisfies the independence requirements set forth in Rule 5605(a)(2) of the Nasdaq Listing Rules."

Nasdaq listing rules are the rulebook a company must follow to have its shares traded on the Nasdaq stock exchange, covering entry requirements and ongoing standards for finances, corporate governance, public disclosure and reporting. For investors they matter because the rules create baseline checks — like a driver’s license and regular inspections for a car — that promote transparency, comparability and reduce the risk of fraud or sudden delisting.

independent director financial

"the Board has appointed Mr. Chun Kit Wong as an independent director and member of the Audit Committee"

An independent director is a member of a company's board of directors who is not involved in the company's day-to-day operations and has no significant relationships with the company that could influence their judgment. Their role is to provide unbiased oversight and ensure the company is managed in the best interests of all shareholders. This helps build trust and confidence among investors by promoting transparency and accountability.

form 6-k regulatory

"filed as Exhibit 10.1 to the Company's current report on Form 6-K filed with the U.S. Securities and Exchange Commission"

A Form 6-K is a report that companies listed in certain countries file to provide important updates, such as financial results, corporate changes, or other significant information, to regulators and investors. It functions like an official company update or news release, helping investors stay informed about developments that could affect their investment decisions.

AI-generated analysis. Not financial advice.

MACAU, March 31, 2026 /PRNewswire/ -- Epsium Enterprise Limited (Nasdaq: EPSM) ("Epsium" or the "Company") today announced a change in the composition of its Board of Directors (the "Board"), effective as of the dates described below.

Mr. Kewei Joshua Cui has resigned from his positions as a member of the Board, the Audit Committee, the Compensation Committee, and the Nominating Committee of the Board, including as Chairperson of the Compensation Committee, effective March 31, 2026. Mr. Cui's resignation was for personal reasons and was not the result of any disagreement with the Company's management or the Board over any matter relating to the Company's operations, policies, or practices.

In connection with Mr. Cui's departure, the Board has appointed Mr. Chun Kit Wong as an independent director and member of the Audit Committee, the Compensation Committee, and the Nominating Committee of the Board, including as Chairperson of the Compensation Committee, effective April 1, 2026. The Board has determined that Mr. Wong satisfies the independence requirements set forth in Rule 5605(a)(2) of the Nasdaq Listing Rules. Mr. Wong's appointment was made upon the recommendation of the Nominating Committee.

Mr. Chun Kit Wong, age 39, brings extensive experience in finance, accounting, and corporate management. Since January 2025, Mr. Wong has served as Chief Financial Officer of One and One Green Technologies, Inc., where he oversees finance and accounting functions and advises on long-term business and financial planning. Prior to that role, Mr. Wong served as Head of Corporate Finance at a Chinese real estate enterprise from June 2023, leading corporate finance initiatives including mergers and acquisitions, financing transactions, financial advisory, and compliance matters. From March 2021 to June 2023, Mr. Wong served as Vice President at Guosen Securities (HK) Capital Company Limited, where he was responsible for originating and evaluating corporate finance engagements. Mr. Wong holds a Bachelor of Commerce in Accountancy from Hong Kong Baptist University.

In connection with Mr. Wong's appointment, the Company entered into an Independent Director Agreement dated April 1, 2026, pursuant to which Mr. Wong is entitled to receive annual compensation of USD $20,000, payable in equal monthly installments. The Company has also entered into an indemnification agreement with Mr. Wong on the same date.

The foregoing description of the Independent Director Agreement is a summary only and is qualified in its entirety by reference to the full text of the agreement, which has been filed as Exhibit 10.1 to the Company's current report on Form 6-K filed with the U.S. Securities and Exchange Commission on March 31, 2026.

About EPSIUM ENTERPRISE LIMITED

Through its Macau operating entity, Companhia de Comercio Luz Limitada ("Luz"), a limited liability company organized under Macau laws in 2010, EPSIUM is engaged in importing and wholesaling primarily alcoholic beverages in Macau. Through Luz, the Company imports and sells a broad range of premium beverages, primarily alcoholic beverages and, in 2022, a small quantity of tea and fruit juice. The alcoholic beverages the Company sells include Chinese liquor, French cognac, Scottish whiskey, fine wine, Champagne, and other miscellaneous beverage alcohol. Sales of Chinese liquor is by far the Company's most significant operations, and the Company is a top wholesaler of high-end Chinese liquor in Macau. For more information, please visit the Company's website: www.epsium-group.com.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements, including, but not limited to, the Company's proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. These statements are subject to uncertainties and risks, including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the "Risk Factors" section of the Registration Statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.

For more information, please contact:

EPSIUM ENTERPRISE LIMITED

Investor Relations Department

Email: investor.relations@epsium-group.com

View original content:https://www.prnewswire.com/news-releases/epsium-enterprise-limited-announces-board-changes-302730527.html

SOURCE Epsium Enterprise Limited

FAQ

Who resigned from Epsium's board and when did the resignation take effect for EPSM?

Mr. Kewei Joshua Cui resigned, effective March 31, 2026. According to the company, the resignation was for personal reasons and not due to any disagreement with management or the Board.

Who was appointed to Epsium's Board on April 1, 2026 (EPSM) and what committees will he join?

Mr. Chun Kit Wong was appointed effective April 1, 2026 and will join the Audit, Compensation, and Nominating Committees. According to the company, he will serve as Chairperson of the Compensation Committee.

What is the annual compensation for the new Epsium independent director (EPSM)?

The Independent Director Agreement provides annual cash compensation of USD $20,000, payable monthly. According to the company, this amount is the full annual fee and is summarized in the agreement filed as Exhibit 10.1.

Does Epsium (EPSM) state that the new director meets Nasdaq independence rules?

Yes, the Board determined Mr. Chun Kit Wong satisfies Nasdaq Rule 5605(a)(2) independence requirements. According to the company, his appointment followed the recommendation of the Nominating Committee.

Will Epsium provide indemnification to the newly appointed director (EPSM)?

Yes, the company entered into an indemnification agreement with Mr. Chun Kit Wong dated April 1, 2026. According to the company, the indemnification accompanies the Independent Director Agreement filed with the SEC.