Recently, SenseTime Group announced that co-founder Xu Bing will step down as executive director and board secretary, and Yang Fan and Wang Zheng will take over as executive directors. SenseTime Group stated that this job adjustment is part of the company's overall talent deployment and business focus strategy.
The announcement shows that Xu Bing will step down as an executive director and board secretary after the annual general meeting of shareholders on June 26, and will not seek re-election at the annual general meeting of shareholders. Xu Bing stated that he has no disagreement with the board of directors and has been appointed as the head of the AI chip business. In the future, he will focus on the development of strategic emerging businesses.
According to the information, Xu Bing was appointed as a director on December 15, 2015 and transferred to the position of executive director on August 23, 2021, mainly responsible for corporate development strategy, financing, and strategic investment management. According to the 2024 financial report, as of December 31, 2024, Xu Bing held approximately 3.07% of the company's voting rights. Based on the closing price of HKD 1.40 per share on May 30th, including Class A and Class B shares, Xu Bing holds approximately HKD 510 million worth of shares in SenseTime Group.
