Gansu Energy Chairman Lu Jiqing Resigns, Xiang Tao Takes Over

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Gansu Energy announced on October 9 that Lu Jiqing has applied to resign as chairman, director, and convener of the Strategy and Sustainable Development Committee due to work adjustments. After resigning, he will no longer hold any position in the company or its controlled subsidiaries. The board of directors elected Xiang Tao as chairman, with a term consistent with the ninth board of directors. Xiang Tao was born in November 1971, holds a master's degree, and is a senior engineer. He previously served as party secretary and chairman of Gansu Diantou Changle Power Generation Company, and as deputy chief engineer, party committee member, and deputy general manager of Gansu Electric Power Investment Group. Since September 2022, he has served as a director of the company, and currently also serves as deputy party secretary, general manager, and director of Gansu Electric Power Investment Group, the controlling shareholder of Gansu Energy. The announcement disclosed that Xiang Tao has no related-party relationships with shareholders holding more than 5% of the company's shares, the actual controller, or other directors and senior management. He does not hold company shares and has not been penalized by the China Securities Regulatory Commission or relevant authorities, nor subjected to disciplinary action by the stock exchange. The company's main businesses are thermal power, hydropower, wind power, and photovoltaic power generation. Its 2026 semi-annual report showed first-half operating revenue of 4.17 billion yuan, up 6.08% year on year, and net profit attributable to shareholders of the listed company of 840 million yuan, up 1.80% year on year.

Impact on assets 1

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GEPIC Energy Development Co Ltd
000791
± Mixedrelevance

Chairman Lu Jiqing resigns and Xiang Tao, the controlling shareholder's general manager, is elected chairman; a leadership change with no stated operational impact.

Off-coverage companies 1

甘肃省电力投资集团有限责任公司i
Private± Mixedrelevance

Mentioned only as the controlling shareholder of Gansu Energy whose deputy party secretary/general manager Xiang Tao becomes chairman; no independent development for the group.