UTime names new independent director, pays $36K
UTime Ltd (FXHO) reported governance changes effective August 25, 2026.
Rhea-AI Filing Summary
UTime Ltd (FXHO) reported governance changes effective August 25, 2026. Hailin Xie resigned as an independent director, chair of the compensation committee, and member of the audit and nominating and corporate governance committees, citing personal reasons and indicating no disagreement with management or the board.
The board appointed Zhenhong Li, age 33, as an independent director to fill these vacancies, including service as chair of the compensation committee and member of the audit and governance committees. Li brings experience in compute infrastructure and Web3 ecosystems and will receive $36,000 annually, paid in equal monthly installments in cash or stock, subject to company policies.
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Key Figures
Effective date of resignation and appointment: August 25, 2026
Annual director compensation: $36,000 per year
Monthly director compensation: USD $3,000 per month
+2 more
5 metrics
Effective date of resignation and appointment
August 25, 2026
Date when Hailin Xie resigned and Zhenhong Li was appointed
Annual director compensation
$36,000 per year
Compensation for Zhenhong Li’s board and committee service, payable in equal monthly installments
Monthly director compensation
USD $3,000 per month
Amount approved by the board in the Director Offer Letter, payable in cash or equivalent stock
Age of new independent director
33
Age of Zhenhong Li at the time of appointment
Nasdaq Rule
Rule 5605
Rule under which the board determined Zhenhong Li meets independence requirements
Key Terms
independent director, Compensation Committee, Audit Committee, Nominating and Corporate Governance Committee, +1 more
5 terms
independent director regulatory
"appointed as an independent director of the Board, the chair"
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.
Compensation Committee financial
"the chair of the compensation committee (the “Compensation Committee”)"
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.
Audit Committee financial
"member of the audit committee (the “Audit 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.
Nominating and Corporate Governance Committee regulatory
"nominating and corporate governance committee (the “Governance Committee”)"
A nominating and corporate governance committee is a group within a company's board of directors responsible for selecting and recommending individuals to serve as company leaders, such as directors or executives. They also develop and oversee policies to ensure the company is run fairly, ethically, and transparently. This committee matters to investors because it helps ensure the company is well-managed and guided by qualified, responsible leadership.
Nasdaq Rule 5605 regulatory
"The Board has determined that you satisfy the independence requirements set forth in Nasdaq Rule 5605"
FAQ
What board changes did UTime Ltd (FXHO) announce in August 2026?
UTime Ltd announced that Hailin Xie resigned as an independent director and committee member effective August 25, 2026. On the same date, the board appointed Zhenhong Li as an independent director, committee chair, and committee member to fill the resulting vacancies.
Why did Hailin Xie resign from UTime Ltd (FXHO)?
Hailin Xie resigned from UTime Ltd’s board and committees effective August 25, 2026, for personal reasons. He indicated that his resignation was not due to any disagreement with the company’s management or the board.
Who is the new independent director at UTime Ltd (FXHO) and what is his background?
The new independent director is Zhenhong Li, age 33. He has cross-sector experience in compute infrastructure and Web3 ecosystems, including roles at AIOZ Network and Hangzhou Lunsha Technology, and holds degrees from Sun Yat-sen University and the University of Edinburgh.
What committees will Zhenhong Li serve on at UTime Ltd (FXHO)?
Zhenhong Li will serve as a member of the Board of Directors, chair of the Compensation Committee, and member of the Audit Committee and the Nominating and Corporate Governance Committee, filling the roles previously held by Hailin Xie.
How much will UTime Ltd (FXHO) pay its new independent director?
UTime Ltd will pay Zhenhong Li $36,000 annually for his board and committee service. This compensation is payable in equal monthly installments of cash or an equivalent value in company stock, subject to applicable policies and regulatory requirements.
Does the new director of UTime Ltd (FXHO) meet independence requirements?
Yes. The board determined that Zhenhong Li satisfies the independence requirements of Nasdaq Rule 5605. He also has no family relationship with any director or executive officer of UTime Ltd.
AI-generated analysis. How Rhea-AI works. Not financial advice.
