Mr. Dongming Wu will also serve as a member of the Board’s audit committee. The Board has reviewed the independence of Mr. Wu and determined that he satisfied the “independence” requirements under Rule 10A-3 of the United States Exchange Act of 1934 and Rule 5605 of the Nasdaq Stock Market Rules. Effective June 1, 2020, the Board’s audit committee will consist of three independent directors: Mr. Conor Chia-hung Yang, Mr. Dongming Wu and Mr. Haoxiang Hou.
Mr. Dongming Wu has served as a Managing Director of DHL-Sinotrans since May 2003. He also currently serves as the Chief Executive Officer of DHL Express China and a Global Management Board Member of DHL Express. DHL-Sinotrans, an international express company in China, is a joint venture between the global delivery and logistics giant DHL and Sinotrans. Mr. Wu has over 30 years of experience in the global delivery and logistics industry. He started his career at Sinotrans in July 1986, where he held various senior management positions and most recently served as the chairman of its supervisory board through March 2017. Mr. Dongming Wu received his bachelor’s degree in economics from Beijing International Studies University and his EMBA degree from the BiMBA Business School of the National School of Development at Peking University.
Mr. Huazhi Hu, EHang’s Founder, Chairman of the Board and Chief Executive Officer, commented:
“We are greatly honored to have Mr. Wu to join us as our independent director. With Mr. Wu’s over 30 years’ valuable experience in the global delivery and logistics industry and in general business administration, we truly believe that having Mr. Wu on our Board will bring his valuable industry insights and international management experience, facilitate our strategical development, especially in respect of the air logistics business, and enhance the corporate governance of our company.”