Embrace Change Acquisition names CFO Zheng Yuan as new CEO

Embrace Change Acquisition Corp. reported a leadership change around the Christmas holiday.

Rhea-AI Filing Summary

Embrace Change Acquisition Corp. reported a leadership change around the Christmas holiday. On December 25, 2025, Chief Executive Officer Jingyu Wang submitted his resignation, which the board of directors approved on December 26, 2025. The company states that his decision to resign was not due to any disagreement over operations, policies, or practices.

The board appointed Zheng Yuan, who has been the company’s Chief Financial Officer and a director since March 2021, to serve as Chief Executive Officer while retaining her CFO role. The filing also outlines each executive’s prior professional experience and education to give investors more background on the outgoing and incoming leaders.

Insights

Corporate governance analyst

Embrace Change replaces its CEO with the existing CFO in a dual role.

Embrace Change Acquisition Corp. disclosed that CEO Jingyu Wang resigned effective after board approval on December 26, 2025, with the company stating his decision was not due to disagreements over operations, policies, or practices. Leadership continuity is maintained by elevating existing CFO and director Zheng Yuan to also serve as Chief Executive Officer.

Because Yuan has served as CFO and on the board since March 2021, she is already familiar with the company’s financial and governance structure, which can ease the transition. However, combining CEO and CFO responsibilities concentrates key decision-making and may increase workload for a single executive.

The filing describes both Wang’s and Yuan’s prior roles in finance, capital markets and investor relations, emphasizing relevant experience but not providing performance metrics. Future company disclosures can give more insight into how this leadership structure influences strategic direction and operational execution.

8-K Event Classification

Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers

1 item

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

FAQ

What leadership change did Embrace Change Acquisition Corp. (EMCGF) disclose?

The company disclosed that Chief Executive Officer Jingyu Wang resigned and that the board appointed Zheng Yuan, its Chief Financial Officer and director, to also serve as Chief Executive Officer.

When did the CEO transition at Embrace Change Acquisition Corp. (EMCGF) occur?

Jingyu Wang submitted his resignation on December 25, 2025, and the board approved his resignation and appointed Zheng Yuan as Chief Executive Officer on December 26, 2025.

Did Jingyu Wang resign from Embrace Change Acquisition Corp. due to disagreements?

No. The company states that Mr. Wang’s decision to resign was not due to any disagreements with the company on matters relating to operations, policies, or practices.

What is Zheng Yuan’s background before becoming CEO of Embrace Change Acquisition Corp. (EMCGF)?

Zheng Yuan has been the company’s Chief Financial Officer and a director since March 2021. She previously held finance and banking roles, including Acting CFO and Administrative Director at Ningbo Super fan Culture Media Co., Ltd. and Vice President of International Banking at Bank of Beijing Co., Ltd.

Will Zheng Yuan remain Chief Financial Officer of Embrace Change Acquisition Corp.?

Yes. The board appointed Zheng Yuan as Chief Executive Officer in addition to her position as Chief Financial Officer.

What experience does outgoing CEO Jingyu Wang have according to the filing?

Jingyu Wang has served as a director since December 2022 and was CEO from December 2022 to December 2025. He previously worked in capital markets and investor relations roles, including as secretary of the board for 36Kr Holdings Inc. and at Hangzhou Tangji Medical Technology Co., Ltd.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Understanding 8-K Material Events →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 12/30/2025 - 05:09 PM Learn about SEC filing dates

false 0001869601 0001869601 2025-12-25 2025-12-25 0001869601 EMCGU:UnitsEachConsistingOfOneOrdinaryShareOfParValue0.0001OneWarrantAndOneRightMember 2025-12-25 2025-12-25 0001869601 EMCGU:OrdinarySharesParValue0.0001PerShareIncludedAsPartOfUnitsMember 2025-12-25 2025-12-25 0001869601 EMCGU:WarrantsIncludedAsPartOfUnitsMember 2025-12-25 2025-12-25 0001869601 EMCGU:RightsIncludedAsPartOfUnitsMember 2025-12-25 2025-12-25 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

Current Report

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

December 25, 2025

Date of Report (Date of earliest event reported)

EMBRACE CHANGE ACQUISITION CORP.

(Exact Name of Registrant as Specified in its Charter)

Cayman Islands		001-41397		N/A00-0000000
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

5186 Carroll Canyon Rd San Diego, CA 92121		92121
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (858) 688-4965

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbols		Name of each exchange on which registered
Units, each consisting of one Ordinary Share of par value $0.0001, one Warrant and one Right		EMCGU		OTC
Ordinary shares, par value $0.0001 per share, included as part of the Units		EMCG		OTC
Warrants included as part of the Units		EMCGW		OTC
Rights included as part of the Units		EMCGR		OTC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.

On December 25, 2025, Embrace Change Acquisition Corp. (the “Company”) received a written notice from Jingyu Wang that he resigned from his position as the Company’s Chief Executive Officer, pending on the approval from the Company’s board of directors (the “Board”). Mr. Wang’s decision to resign was not due to any disagreements with the Company on any matter relating to the Company’s operations, policies, or practice.

On December 26, 2025, the Board approved the resignation of Jingyu Wang from the Company’s Chief Executive Officer, and appointed Zheng Yuan, the Company’s Chief Financial Officer, as the Company’s Chief Executive Officer, in addition to her Chief Financial Officer position.

Jingyu Wang has been the Company’s director since December 2022 and was the Company’s Chief Executive Officer from December 2022 to December 2025. Mr. Wang served as an advisor to the Company in connection with its initial public offering and public disclosures from September 2021 until his appointment as Chief Executive Officer. From October 2024, Mr. Wang has been a director and the secretary of the board of Hangzhou Tangji Medical Technology Co., Ltd, overseeing capital markets operations and managing investor relations. From June 2015 to September 2021, Mr. Wang served as the secretary of the board for 36Kr Holdings Inc., a company listed on Nasdaq (Nasdaq: KRKR), for which he coordinated the Company’s public disclosures. Mr. Wang received his bachelor’s degree in laws from China University of Political Science and Law in 2012.

Zheng Yuan has been the Company’s Chief Financial Officer and a director since March 2021. From July 2024, Ms. Yuan has also been a weekend teacher at San Diego Huaxia Chinese School teaching Mandarin Chinese. From June 2017 until August 2021, Ms. Yuan was the Acting as CFO and Administrative Director of Ningbo Super fan Culture Media Co., Ltd., a joint stock limited company. From October 2010 until March 2016, she was the Vice President of International Banking for Bank of Beijing Co., Ltd. She received master’s and bachelor’s degrees from Tianjin University of Finance and Economics.

SIGNATURE

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.

Dated: December 30, 2025

EMBRACE CHANGE ACQUISITION CORP.
By:	/s/ Zheng Yuan
Name:	Zheng Yuan
Title:	Chief Executive Officer