During the China International Fair for Trade in Services 2020 (CIFTIS), China National Biotechnology Group (CNBG) showcased the company’s development of a vaccine for martial lung.
At a time when China’s martial lung epidemic is severe and CNBG’s vaccine is urgently approved by the government for marketing, the news that CNBG Chairman Li Zhiming has resigned from all positions in the company has caused concern.
The Central News Agency (CNA) reported that Sinopharm Holdings held its 2020 annual headquarters cadre briefing meeting on January 6, which was attended by more than 90 members of the company’s leadership team, middle-level cadres and employee representatives, but Li Zhiming’s name did not appear. Subsequently, Sinopharm released an announcement on the official website of the Hong Kong Stock Exchange in the evening of January 12 that the board of directors of the company received the resignation of Chairman Li Zhiming on January 12. Due to “personal reasons”, Li Zhiming resigned from the board of directors as chairman, executive director, chairman of the nomination committee, chairman of the strategy and investment committee and member of the legal compliance committee, effective immediately.
The news of the resignation of Li Zhiming, Chairman of Sinopharm Holdings, from all positions in the company has aroused great concern. (Photo source: Internet photo)
The announcement also stated that Li Zhiming confirmed that there was “no disagreement” between him and the Board of Directors and that there were no matters related to his resignation that should be brought to the attention of the shareholders and creditors of the Company.
Sinopharm also emphasized in the announcement that the existing directors and management of the Company are performing their duties normally and the production and operation of the Company are normal.
In addition, the Board of Directors of Sinopharm Holdings has elected Yu Qingming to act as Chairman of the Board on 12 January 2021 in accordance with the provisions of the Articles of Association of the Company.
According to the official website of Sinopharm Holdings, Yu Qingming is the Secretary of the Party Committee and Executive Director of Sinopharm Holdings. Li Zhiming resigned to replace him, and the official website has not been updated as of deadline.
Public information shows that Li Zhiming, 58, entered Sinopharm Holdings Group in 2009 and was promoted to chairman in March 2017, before being re-elected as chairman on Sept. 18 last year.
As is well known, the two wu lung vaccines developed by Sinopharm Holdings received official approval from the Communist Party of China for conditional marketing on Dec. 31 last year, and are the first new coronavirus (also known as Chinese communist virus, COVID-19) vaccines approved for marketing in China. The company expects to produce more than 1 billion doses of the martial lung vaccine by the end of 2021. However, it was recently rumored that the vaccine developed by Sinopharm has as many as 73 side effects, and even a few people who received the vaccine may experience symptoms such as High blood pressure, vision loss, loss of taste, delayed menstruation and urinary incontinence, which once caused widespread public concern and discussion.
At this time, Li Zhiming suddenly resigned from all his positions in the company, and the outside world could not help but speculate whether there was a problem with Sinopharm vaccines or a big mess had been made. Or was it a fierce struggle between powerful people inside the company to make money from vaccines?
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