Nongfu Spring Co., Ltd. to Cease Zhou Zhenhua as Chief Financial Officer
March 03, 2023 at 07:42 am EST
Share
Nongfu Spring Co., Ltd. announced that after the appointment of candidates for Directors of the eighth session of the Board is approved with effect at the Annual General Meeting, current members of the seventh session of the Board, Ms. Zhou Zhenhua will cease to act as the chief financial officer and an authorised representative of the company for the purpose of Rule 3.05 of the Listing Rules (Authorised Representative). The Board agreed to appoint Ms. Wu Limin to act as the chief financial officer and Authorised Representative, with effect from the date of approval of her appointment as the executive Director of the Company at the Annual General Meeting. The term of office shall be three years, which is in line with the term of office of the eighth session of the Board. Ms. Wu Limin, age 50, joined the Company in January 2022 as the General Manager of the financial center of the Company, and is responsible for financial management of the Company. Prior to joining the Company, Ms. Wu Limin served as the Vice President and Chief Financial Officer of Yonghui Superstores Co., Ltd. from April 2019 to December 2021. Ms. Wu Limin joined Unilever China Ltd. in 1996 and served successively as the Finance Director of Malaysia and Singapore, the Vice President of Finance of Vietnam-Southeast Asia Cluster and the Vice President of Finance of the North Asia Cluster of the aforesaid company from 2010 to 2019. Ms. Wu Limin obtained a bachelor's degree in biochemistry from Fudan University in June
1996, an MBA degree from China Europe International Business School in June 2007, and was admitted as a Fellow of the Association of Chartered Certified Accountants in November 2004.
Nongfu Spring Co., Ltd. specializes in the production and marketing of natural spring water and beverages. Net sales break down by family of products as follows:
- packaged mineral water (57.4%): Nongfu Spring brand;
- ready-to-drink tea (15.4%): Tea ?, Oriental Leaf, Ganpu Tea, Brown Rice Tea and Mix Milk Tea brands;
- functional drinks (12.4%): Scream and Victory Vitamin Water brands;
- fruit juices (8.8%): Water Soluble C100, Farmer's Orchard, Nongfu Spring, NFC and Double Wedding Banquet brands;
- Other (6%): carbonated water, sparkling flavored drinks, coffee drinks, vegetable yoghurt, flavored carbonated drinks, agricultural products, etc.
China accounts for more than 99% of net sales.