"Post-80s" Vice Chairman to Take Office, Yongying Fund Announces Latest Board of Directors List

On March 11, Yongying Fund announced that since May 2025, due to personnel adjustments among the shareholders, board reshuffles, and plans to add a vice chairman, the company’s shareholder meeting approved multiple adjustments to the board members. In the past 12 months, there have been changes in more than 50% of the directors.

The announcement states that the current board members are Ma Yuhui, Zhang Ningning, Wang Dandan, Tan Wing Ming (Chen Yongming), Ang Eng Siong (Hong Yongxiang), Lu Tuer, Chen Wei, Hu Jianjun, and Wang Lei.

This new board list seems to imply important upcoming arrangements.

Post-80s Zhang Ningning to be Vice Chairman

Most notably, Zhang Ningning is proposed to serve as Vice Chairman.

Public information shows that Zhang Ningning was born in March 1984. She joined Ningbo Bank in July 2007 and has served as Assistant General Manager, Deputy General Manager, Acting General Manager of the Financial Markets Department, General Manager of the Capital Operations Center, and Vice President of Ningbo Bank since January 2012.

According to previous announcements from Ningbo Bank, Ms. Zhang Ningning resigned from her position as Vice President due to personal reasons, effective February 6, 2024. After her resignation, she no longer holds any positions in the company or its subsidiaries. Ms. Zhang Ningning confirmed that she has no disagreements with the board and there are no other matters to notify shareholders about. As of this announcement, Ms. Zhang Ningning does not hold any shares in the company.

In fact, the “decision-makers” at Yongying Fund are generally quite young.

For example, Chairman Ma Yuhui was born in October 1981. He has previously served as Deputy Manager and Manager of the Product Development Department in Ningbo Bank’s Financial Markets Department, Assistant General Manager, Deputy General Manager, and General Manager of the Financial Markets Department, and Vice President of Ningbo Bank. He is currently Chairman of Yongying Fund, as well as Chairman of Yongying Asset Management Co., Ltd. and Yongying International Asset Management Co., Ltd.

Additional Changes

Compared to the March 2025 prospectus, the board list has also changed with Fang Yuan, Chen Delong, Chen Youliang, and Wang Yizhong stepping down, while Tan Wing Ming (Chen Yongming), Ang Eng Siong (Hong Yongxiang), and Wang Lei have joined.

Fang Yuan previously served as Deputy Manager of the Second Department of Corporate Banking at Ningbo Bank’s Yinzhou Branch, Deputy Manager of the Transaction Banking Department at Yinzhou Branch, Acting Deputy Manager of the Third Department of Corporate Banking at Yinzhou Branch, Branch Manager of Gulin Branch, Vice President of Yinzhou Branch, Vice President of Wuxi Branch, and Vice President of Shanghai Branch. At the time of his appointment as director, he was also serving as Deputy General Manager of the Wealth Management Department at Ningbo Bank.

Chen Yongming and Hong Yongxiang have experience working at OCBC Bank Singapore, likely replacing directors Chen Delong and Chen Youliang.

Considering that OCBC Bank Singapore is a significant shareholder of Ningbo Bank, these changes are probably arranged by the shareholders.

Wang Lei is an independent director with a legal background, replacing the previous independent director Wang Yizhong from Zhejiang University.

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