China Everbright Water’s Joint Company Secretary Achieves SEHK Qualification: Strengthened Governance for Dual-Listed Entity

Key Developments Investors Should Note

• Ms. Kwan Yun Fui, previously under a waiver, is now fully qualified to act as company secretary under SEHK Listing Rules.
• No further waiver from The Stock Exchange of Hong Kong (SEHK) is required for Ms. Kwan’s role.
• The company will maintain its dual joint company secretary arrangement despite Ms. Kwan’s new qualification.
• Corporate governance standards remain high, with continued dual-compliance for Singapore and Hong Kong listings.

Details of the Announcement

China Everbright Water Limited (“the Company”), a dual-listed entity on the Hong Kong Stock Exchange (HKEX: 1857) and Singapore Exchange (SGX: U9E), has announced a critical update regarding its company secretarial arrangements. Previously, Ms. Kwan Yun Fui was appointed as Joint Company Secretary with a three-year waiver from strict compliance with Rules 3.28 and 8.17 of the SEHK Listing Rules, as she did not initially meet all criteria. During this period, Ms. Kwan was assisted by Ms. Ho Wing Tsz Wendy, who is fully qualified under SEHK rules.

The board has now received formal confirmation from SEHK that, upon expiry of the waiver period on 24 September 2025, Ms. Kwan is independently qualified to act as a company secretary under Rule 3.28 of the SEHK Listing Rules. This means the Company does not need to seek further waivers for her continued appointment.

Despite Ms. Kwan’s new qualification, China Everbright Water will retain the dual joint company secretaries arrangement. This decision is strategic, given the Company’s dual listing in Hong Kong and Singapore, and its principal operations in Mainland China. The board emphasizes that this structure helps maintain the highest standards of corporate governance and ensures effective management across different regulatory environments.

Why This Matters for Shareholders

• Regulatory Compliance Risk Reduced: The removal of dependence on a waiver for a key governance position strengthens the Company’s regulatory standing and reduces potential risk.
• Enhanced Governance: Maintaining joint company secretaries, now both fully qualified, signals a robust approach to compliance and governance across multiple jurisdictions.
• Positive Corporate Signal: This announcement may be interpreted positively by institutional investors and regulators, as it demonstrates proactive risk management and commitment to strong governance. Such improvements can influence investor confidence and, potentially, the share price.
• Leadership Stability: The update also confirms the current composition of the board, reinforcing stability in executive and independent non-executive director roles.

Board Composition Update

As of 31 October 2025, the board is as follows:

• Non-executive Director: Mr. Luan Zusheng (Chairman)
• Executive Directors: Mr. Xiong Jianping (Chief Executive Officer), Mr. Wang Yuexing
• Independent Non-executive Directors: Ms. Hao Gang, Mr. Ng Joo Hee Peter, Mr. Soh Kok Leong, Ms. Chan Pui Shan Sandy

This diverse and experienced board, combined with a now fully compliant company secretarial team, ensures ongoing corporate oversight and strategic direction.

Potential Impact on Share Price

While this announcement does not pertain to operational results or financial performance, it is highly relevant for risk assessment and long-term investor confidence. The elimination of waiver dependence for key compliance roles may be viewed positively by the market, particularly among institutional investors focused on governance standards. The continuity of dual joint company secretaries further reinforces the Company’s commitment to best practices, potentially supporting share price stability or appreciation.

Conclusion

China Everbright Water Limited’s proactive approach to regulatory compliance and governance enhancement marks a significant milestone. Investors should monitor market reaction to this positive governance development, especially given its strategic importance for a cross-listed, multi-jurisdictional enterprise.

Disclaimer: This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Investors should consult their professional advisors before making investment decisions.

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