Independent director Xiao Zuoping under investigation for suspected serious disciplinary and legal violations; three listed companies issue announcements

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Xiao Zuoping, who serves as an independent director of Zhejiang Orient, Eastcompeace, and Liziyuan, is under disciplinary review and supervisory investigation for suspected serious disciplinary and legal violations. The three companies issued announcements on the evening of October 8. Eastcompeace said it recently learned that independent director Xiao Zuoping is suspected of serious disciplinary and legal violations, and based on preliminary understanding, the case does not involve the company. Xiao Zuoping has served as an independent director since July 2023 and is currently an independent director of the eighth board of directors and chairman of the audit committee, among other roles. He does not participate in daily production and operation management, and his inability to perform duties will not have a material adverse impact on the company's production, operations, or standardized governance. The company will select a new independent director as soon as possible. Zhejiang Orient's announcement shows that Xiao Zuoping has served as an independent director since October 2020 and is currently an independent director of the tenth board of directors and chairman of the audit committee, among other roles. Liziyuan said Xiao Zuoping has served as an independent director since July 2024 and is currently an independent director of the fourth board of directors, chairman of the audit committee, and a member of the nomination committee. His inability to perform duties will not have a material impact on the company's operations and management. Public information shows that Xiao Zuoping was born in 1975 and is currently a professor and doctoral supervisor at the School of Accounting of Hangzhou Dianzi University. He previously served as head of the accounting department at Southwest Jiaotong University. On September 30, the Huzhou Municipal Commission for Discipline Inspection and Supervisory Commission website reported that Xiao Zuoping, former deputy party secretary and dean of the School of Accounting at Hangzhou Dianzi University, is suspected of serious disciplinary and legal violations and has voluntarily surrendered. He is currently undergoing disciplinary review by the Hangzhou Dianzi University Commission for Discipline Inspection and supervisory investigation by the Huzhou Municipal Supervisory Commission. In 2025, Xiao Zuoping's pre-tax compensation from Zhejiang Orient, Eastcompeace, and Liziyuan was 150,000 yuan, 80,000 yuan, and 70,000 yuan, respectively.

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Others▼
Eastcompeace Technology Co Ltd
002017
▼ NegativeRegulationrelevance

Independent director and audit committee chairman Xiao Zuoping is under investigation for suspected serious disciplinary and legal violations.

Zhejiang Orient Holdings Co Ltd
600120
▼ NegativeRegulationrelevance

Independent director Xiao Zuoping, chairman of the audit committee, is under disciplinary review and supervisory investigation for suspected serious violations.

Zhe Jiang Li Zi Yuan Food Co Ltd
605337
▼ NegativeRegulationrelevance

Independent director and audit committee chairman Xiao Zuoping is under investigation for suspected serious disciplinary and legal violations.