Hong Zhiwang
About Hong Zhiwang
Hong Zhiwang (age 31) has served as a director of Addentax Group Corp. since March 13, 2019. He earned a Bachelor’s degree in Automation Engineering from Beijing Institute of Technology University Zhuhai Campus in 2014 and has been Addentax’s brand marketing manager since 2018, bringing e-commerce and branding expertise to the board. He is the brother of CEO/Chairman Hong Zhida; the board does not consider him independent under Nasdaq rules.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Addentax Group Corp. | Brand Marketing Manager | 2018–present | Leads e-commerce marketing, brand development, market investigation, channel expansion; designed company logo and handled copyrights. |
| Hongfan Computer & Technology Co., Ltd. | PDM Software Engineer | 2014 | Software development, ERP assistance, PLM R&D, surface/functional model design, structure and communications tech. |
External Roles
| Organization | Role | Tenure | Board/Committee | Notes |
|---|---|---|---|---|
| Not disclosed | — | — | — | No other public company directorships disclosed in past five years. |
Board Governance
- Independence: Not independent per Nasdaq Rule 5605; family relationship with CEO (brothers).
- Director since: March 13, 2019.
- Committee assignments: None; Audit, Compensation, and Nominating committees comprised of independent directors (Li Weilin, Alex P. Hamilton, Xiao Jiangping).
- Board leadership: Combined CEO/Chair model.
- Attendance: FY 2023—Board held 8 meetings; all directors attended 100% of Board and committee meetings. FY 2024—Board held 1 meeting; all directors attended virtually.
Fixed Compensation
| Year | Salary ($) | Bonus ($) | Stock Awards ($) | Option Awards ($) | Non-Equity Incentive ($) | Nonqualified Deferred ($) | All Other ($) | Total ($) |
|---|---|---|---|---|---|---|---|---|
| 2022 | — | — | — | — | — | — | — | — |
| 2023 | — | — | — | — | — | — | — | — |
| 2024 | Not disclosed (non-employee director compensation table lists independent directors only) | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
Independent directors (Hamilton, Xiao, Li) receive $15,000 annual cash retainers; Hong Zhiwang is not listed among compensated non‑employee directors.
Performance Compensation
| Metric | FY 2023 | FY 2024 | Notes |
|---|---|---|---|
| RSU grants (shares) | None disclosed | None disclosed | 2024 Equity Incentive Plan approved June 28, 2024; no grants to date. |
| PSU metrics (revenue/EBITDA/TSR/ESG) | Not disclosed | Not disclosed | No performance plan metrics disclosed for directors. |
| Option awards (#) | None disclosed | None disclosed | No outstanding equity awards; no options exercised. |
| Option strike price | N/A | N/A | — |
| Outstanding equity awards (#) | None disclosed | None disclosed | — |
Other Directorships & Interlocks
| Company | Role | Period | Interlock/Conflict | Evidence |
|---|---|---|---|---|
| None disclosed | — | — | — | No other public company boards in last five years. |
- Family interlock: Brother of CEO/Chairman Hong Zhida (related-party relationship). RED FLAG
Expertise & Qualifications
- Education: Bachelor’s in Automation Engineering (Beijing Institute of Technology University Zhuhai Campus, 2014).
- Functional expertise: Brand marketing, e‑commerce, channel development, IP/branding.
- Technology exposure: PLM/ERP support and software engineering background.
Equity Ownership
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Shares Beneficially Owned | 501,171 | 50,118 | 50,118 |
| Ownership % | 1.41% | 0.83% | 0.83% |
- Hedging: Insider trading policy prohibits hedging/monetization transactions (e.g., collars, swaps).
- Pledging: No pledging disclosures noted.
- Options/RSUs: No outstanding equity awards; no option exercises to date.
Governance Assessment
- Independence and conflicts: He is not independent and is the CEO’s brother, while also serving as a company employee (brand marketing manager). This dual role and family tie impair independence and present a potential conflict of interest. RED FLAG
- Committee effectiveness: Excluded from Audit, Compensation, and Nominating committees, which are composed solely of independent directors—appropriate mitigation given his non‑independent status.
- Engagement: Documented full attendance in FY 2023 and participation in FY 2024 board meeting, supporting baseline engagement.
- Pay alignment: No director cash/equity compensation disclosed for Hong Zhiwang while independent directors receive modest retainers, limiting pay‑for‑influence concerns; alignment is primarily via share ownership (0.83%).
- Protections: Company has adopted a clawback policy and prohibits hedging, which are positive governance safeguards; however, low committee activity (one board meeting in FY 2024) may constrain oversight amid strategic announcements.
Overall signal: Share ownership and attendance support engagement, but non‑independence and familial/employee ties are material governance risks for investor confidence; reliance on independent committees is key mitigation to monitor.