Hou family withdraws from Nankang board of directors

Nankang announced that several directors and independent directors have resigned from the board of directors. Tyrepress China noticed that the directors Huang Mingyou and Chen Hsueh Sheng, who resigned from the board of directors, are both representatives of Kuo Yang Group. At the same time, He Siao-Dong, who came from Kuo Yang Group and served as vice chairman of Nankang subsidiary Nanzong Construction Developments, also announced his resignation.

Nankang has not announced the successor directors. However, the six remaining directors on the board of directors are all the original members of Nankang.

Some Taiwanese media said that the personnel of Kuo Yang Group have withdrawn from the board of directors, indicating that the cooperation between the Hou family behind it and Nankang has come to an end since 2022. The statement issued by the Kuo Yang Group responded to this conjecture.

The company said it has never sent an operations team to Nankang. The person who invested in Nankang and participated in the management rights was the personal investment and financial planning of Hou Xifeng, the founder of Kuo Yang Group. The reason for its withdrawal is that Nankang’s management team has passed the most unstable period and achieved normal operations, and “the Hou family has completed phased tasks”.