Hongli Group Inc. Announces Appointment of Mr. Michael W. Zhang as Chairman of the Board
The incoming chairman outlined an ambition to diversify beyond steel profiles into clean energy and solid-state lithium battery technologies.
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Rhea-AI Summary
Hongli Group (Nasdaq: HLP) appointed Michael W. Zhang as board chairman, succeeding Jie Liu, effective September 29, 2026.
Liu remains chief executive officer. Chenglong Yang also stepped down as a director and from all board committees on September 29. The company attributed both resignations to personal reasons. Zhang has served as managing partner of private equity fund manager H Alpha Management since March 2015 and holds an MBA in Finance from Yale University.
Zhang said the company seeks to diversify from cold roll-formed steel profile manufacturing into clean energy and solid-state lithium battery technologies.
Positive
- Minor point. Forward-looking: it has not happened yet and may not happen.Hongli seeks to diversify into clean energy and solid-state lithium battery technologies, its incoming chairman said.
Negative
- None.
Details
News Market Reaction – HLP
On Oct 6, the first trading day after this news, HLP closed 3.24% above the previous close.
Data tracked by StockTitan Argus for the Oct 6 session.
AI-generated analysis. How Rhea-AI works. Not financial advice.
WEIFANG,
Additionally, Mr. Chenglong Yang has stepped down as a Director on the Board and a member of all committees under the Board, effective September 29, 2026. Mr. Liu's and Mr. Yang's resignations were both due to personal reasons and did not result from any dispute or disagreement with the Company on any matter relating to the Company's operations, policies or practices.
Mr. Michael W. Zhang brings extensive capital markets and corporate governance experience to the Company. Mr. Zhang has extensive experience in private equity fund management, capital allocation, business management and strategic oversight. Since March 2015, he has served as Managing Partner of H Alpha Management, a private equity fund management firm, where he is responsible for the firm's strategic direction and overall operations. He also serves as a director of Anbio Biotechnology, a
Mr. Zhang holds an MBA in Finance from Yale University and a Bachelor of Science in Finance from Indiana University Bloomington.
"We are pleased to welcome Mr. Zhang as Chairman of the Board," said Jie Liu, Chief Executive Officer of the Company. "His deep background in financial markets, capital structure strategy, and corporate growth will provide valuable governance and strategic oversight as the Company advances its business initiatives."
"I am honored to serve as Chair of the Board," said Michael W. Zhang. "The Company has built a strong foundation, differentiated market position, and a talented leadership team focused on driving long-term growth. I look forward to partnering closely with Mr. Jie Liu, our Board, and the broader management team as we seek to diversify from traditional cold roll-formed steel profile manufacturing into next-generation clean energy and solid-state lithium battery technologies, and endeavor to create long-term value for our shareholders."
About Hongli Group Inc.
Hongli Group Inc. is a Cayman Islands holding company, and through a series of contractual arrangements, consolidates the financial results of Shandong Hongli Special Section Tube Co., Ltd. and its subsidiaries (collectively, "Hongli Operating Group"). Hongli Operating Group is a cold roll formed steel profile manufacturer with operating subsidiaries in China. Hongli Operating Group designs, customizes and manufactures cold roll formed steel profiles for machinery and equipment in a variety of sectors, including but not limited to mining and excavation, construction, agriculture and transportation. The Hongli Operating Group, with over 25 years of operating history, has developed customers in more than 30 major cities in China as well as a global network including South Korea, Japan and the United States. Hongli Operating Group currently has 11 cold roll forming production lines and produces a variety of distinct profile products in a broad range of materials, sizes and shapes.
Forward-Looking Statements
Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate," "continue," "seek,"
"endeavor" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks, including, but not limited to, the following: the Company's ability to achieve its goals and strategies, the Company's future business development and plans for future business development, including its financial conditions and results of operations, product and service demand and acceptance, reputation and brand, the impact of competition and pricing, changes in technology, government regulations, import and export restrictions, fluctuations in general economic and business conditions, the Company's ability to comply with Nasdaq continued listing standards and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the U.S. Securities and Exchange Commission ("SEC"). For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
Hongli Group Inc.
Mr. Jie Liu
Email: zjf@hongli-profile.com
Tel: +86 0536-2180886
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SOURCE Hongli Group Inc.
FAQ
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Who is Hongli Group's new board chairman, and when did the appointment take effect?
Michael W. Zhang became Hongli Group's board chairman effective September 29, 2026, succeeding Jie Liu. Liu remains the company's chief executive officer.