Hang Feng (FOFO) director and audit committee chair dies, board plans replacement
Rhea-AI Filing Summary
Hang Feng Technology Innovation Co., Ltd. reported the passing of board member Mr. Wong Yiu Kit Ernest on January 24, 2026. He served on the Board, chaired the Audit Committee, and was a member of the Compensation and Nominating and Corporate Governance Committees.
The company notes it is entitled to Nasdaq phase-in periods for meeting majority independent board, audit committee, and independent nominations and compensation committee requirements. It intends to appoint a new independent director before the end of the applicable cure period to fill the vacancy created by Mr. Wong’s passing.
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Insights
Director’s death creates a governance gap, but company plans timely replacement.
Hang Feng Technology Innovation Co., Ltd. discloses the death of Mr. Wong Yiu Kit Ernest, who held several key oversight roles, including chair of the Audit Committee and membership on compensation and nominating/governance committees. This temporarily reduces independent oversight at the board level.
The company cites eligibility for Nasdaq Phase-in Period relief on independence and committee requirements, which helps it remain within listing rules during the transition. It also states an intention to appoint a new independent director before the cure period ends, which, if completed as planned, would restore the prior committee structure.