Recently, China Electronics Technology Group Corporation Chip (CETC Chip, stock code: 600877), a Chongqing-based listed company under the state-owned China Electronics Technology Group Corporation (CETC), has announced a change in its leadership.

Acting Chairman Xiao Zhiqiang has stepped down from his role but will continue to serve as Vice Chairman and hold other positions within the company. The new Chairman, Li Bin, has officially taken office.

At 2:30 PM on December 27, CETC Chip held its fourth extraordinary general meeting of shareholders for the year 2024. During this meeting, a proposal to appoint Li Bin as a non-independent director to the company's 13th board of directors was approved.

Subsequently, at the fourth meeting of CETC Chip's 13th board of directors, Li Bin was unanimously elected as Chairman, as well as designated as the convener of the board's strategy committee and a member of the nomination committee. His term will expire at the end of the current board's term.

Over the past year, there have been numerous changes among the senior executives at CETC Chip. Previously, former Chairman Wang Ying resigned from his positions as director, Chairman, convener of the board's strategy committee, and member of the nomination committee due to a job transfer.

The impact of Wang Ying's departure and Li Bin's appointment on the company's future remains to be observed.

CETC Chip, headquartered in Chongqing, is a listed subsidiary of CETC (stock code: 600877), specializing in the chip industry. Its business encompasses integrated circuit design, manufacturing, packaging, and testing, with products widely used in communications, computers, consumer electronics, and other industries. The company plays a pivotal role in promoting the development of China's semiconductor industry.

According to his resume, Li Bin was born in April 1971 and holds the title of researcher-level senior engineer. He graduated from the Institute of Communication and Electronics Systems at the Shijiazhuang Institute of Communication and Control Engineering. Since March 1998, he has served in various capacities, including as the leader and director of the software group at the National Engineering Research Center for Communication Software and ASIC Design at the 54th Research Institute; deputy chief engineer and director of the IC and Application Software Department at the 54th Research Institute; and various executive positions at CEC Integrated Circuit Co., Ltd. and the 58th Research Institute. Most recently, he served as deputy director of the Science and Technology Department and chief scientist at CETC.