Rongguo Wei
About Rongguo Wei
Rongguo (Ronald) Wei is HWH’s Chief Financial Officer (CFO) and has served in this role since October 2021, bringing more than 15 years of U.S. corporate finance experience; he is 54 years old as of October 9, 2025 . Wei’s background includes Co-Chief Financial Officer of Alset Inc. and CFO of SeD Development Management LLC, overseeing finance, accounting, reporting, and taxation; prior roles span Controller at American Silk Mill (Aug 2014–Jul 2016), Senior Financial Analyst at Air Products & Chemicals (Jan 2013–Jun 2014), and Financial/Accounting Analyst at First Quality Enterprise (2011–2012) . He holds an MBA from the University of Maryland, a Master of Business Taxation from the University of Minnesota, a Master in Business from Tsinghua University, and a Bachelor’s from Beihang University; he previously worked as an equity analyst at Hong Yuan Securities in Beijing . The company’s proxy filings do not disclose total shareholder return (TSR) or operating performance metrics tied specifically to Wei’s tenure; no executive performance metrics are presented for pay or evaluation .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| SeD Development Management LLC | Chief Financial Officer | Aug 2016–present (current per proxy) | Led finance, accounting, reporting, and taxation oversight |
| American Silk Mill, LLC | Controller | Aug 2014–Jul 2016 | Managed manufacturing/distribution finance controls and reporting |
| Air Products & Chemicals, Inc. | Senior Financial Analyst | Jan 2013–Jun 2014 | Corporate FP&A and analytical support |
| First Quality Enterprise, Inc. | Financial/Accounting Analyst | 2011–2012 | Financial analysis and accounting for personal products |
| Amarantus Bioscience Holdings, Inc. | Chief Financial Officer | Feb 2017–Nov 2017 | Short-tenure biotech CFO; board director Feb–May 2017 |
| Hong Yuan Securities (Beijing) | Equity Analyst | Not disclosed | Industrial and public company research/analysis |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Alset Inc. | Co-Chief Financial Officer | Current (start not disclosed) | Oversight of finance across majority shareholder of HWH’s parent |
| Amarantus Bioscience Holdings, Inc. | Board Director | Feb–May 2017 | Governance oversight at biotech company |
Fixed Compensation
| Metric | FY 2024 | FY 2025 (as disclosed to Oct 9, 2025) |
|---|---|---|
| Base Salary ($) | $0 (no cash compensation paid to executive officers) | $0 (none of our executive officers received cash compensation) |
| Target Bonus (%) | Not disclosed | Not disclosed |
| Actual Bonus Paid ($) | $0 (no bonus disclosed) | $0 (no bonus disclosed) |
Performance Compensation
- The company reports no long-term incentive plans in place; no stock option plan adopted; and no stock awards plan adopted through the reporting dates .
- No performance bonus plans or grant-specific performance metrics (revenue, EBITDA, TSR, ESG) are disclosed for executive officers .
| Incentive Type | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Cash Bonus | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| RSUs/PSUs | No plan adopted | N/A | N/A | N/A | N/A | N/A |
| Stock Options | None granted | N/A | N/A | N/A | N/A | N/A |
Equity Ownership & Alignment
| Metric | As of Oct 15, 2024 | As of Sep 22, 2025 |
|---|---|---|
| Common Shares Beneficially Owned | 0 | 0 |
| Ownership % of Shares Outstanding | Not separately stated for Wei | 0.00% (out of 6,476,400 shares outstanding) |
| Vested vs Unvested Shares | No equity awards outstanding | No equity awards outstanding |
| Options (Exercisable / Unexercisable) | None / None | None / None |
| Shares Pledged as Collateral | Not disclosed (no pledging reported) | Not disclosed (no pledging reported) |
| Stock Ownership Guidelines | Not disclosed | Not disclosed |
| Compliance with Ownership Guidelines | Not disclosed | Not disclosed |
Alignment takeaways: Wei holds no HWH shares, has no options or unvested equity, and the company has not yet adopted equity plans—implying minimal direct equity alignment or insider selling pressure from vesting schedules .
Employment Terms
- Start Date and Tenure: CFO since October 2021; currently serving as CFO .
- Employment Contract Term/Expiration: Not disclosed .
- Severance/Change-of-Control: The company states it is not party to agreements providing benefits upon termination; no severance/change-of-control terms disclosed .
- Clawbacks/Tax Gross-ups: Not disclosed .
- Insider Trading Policy: Adopted March 18, 2025, covering directors, officers, and employees .
- Indemnification: Company intends to enter indemnification agreements with directors and executive officers .
- Non-compete/Non-solicit/Garden Leave/Post-termination: Not disclosed .
Performance & Track Record
- Professional Credentials: CPA; advanced degrees in business and taxation; prior equity research experience in Beijing .
- Operating Achievements: Not specifically enumerated for Wei in filings; his role spans finance oversight for HWH and affiliated entities (Alset Inc., SeD Development Management LLC) .
- Company Performance During Tenure: No TSR, revenue growth, EBITDA growth disclosed in relation to executive performance or compensation .
Related Party and Governance Context (Implications for CFO Oversight)
- HWH is majority-held through Alset entities; extensive related-party loans, credit facilities, debt conversions into equity, and transactions with Sharing Services Global Corporation (SHRG) occurred in 2024–2025, requiring strong CFO controls and independence in financial reporting .
- Auditor changes (MaloneBailey to Grassi in April 2024; Grassi to HTL International in July 2025) highlight evolving audit oversight during Wei’s tenure, increasing the importance of robust internal controls .
Compensation Structure Analysis
- Shift Toward Guaranteed vs At-Risk Pay: No guaranteed executive cash compensation reported; at-risk equity not yet adopted—compensation for executives is effectively non-existent in cash and equity as disclosed .
- Equity Award Practices: No option or stock award grants through FY 2024/FY 2025 proxy dates; company notes intent to adopt stock awards plan in future, but timing/terms not disclosed .
- Discretionary Bonuses/Guidance Changes/Option Repricing: None disclosed .
Compensation Peer Group and Say-on-Pay
- Benchmarking/Peer Group: Not disclosed .
- Say-on-Pay Results/Shareholder Feedback: Not disclosed .
Expertise & Qualifications
- Education: MBA (University of Maryland); Master of Business Taxation (University of Minnesota); Master in Business (Tsinghua University); Bachelor’s (Beihang University) .
- Technical Expertise: CPA; deep finance, accounting, reporting, and taxation leadership across public/private companies .
- Industry Experience: Manufacturing, personal products, biotech, and diversified holdings; cross-border financial exposure via Alset ecosystem .
- Succession/Board Qualifications: Not disclosed; he is not a director of HWH .
Equity Ownership & Ownership Concentration (Context)
- Wei’s beneficial ownership is 0 shares; overall insider concentration is dominated by Alset entities and Chairman Chan (e.g., Alset Inc. and Alset International hold large stakes), indicating a controlled-company dynamic that can overshadow management-level equity alignment .
Investment Implications
- Alignment risk: With zero personal share ownership, no options, and no disclosed equity awards, Wei’s direct financial alignment with minority shareholders is limited; however, his dual roles at Alset Inc. suggest alignment with controlling shareholder priorities rather than HWH minority holders .
- Retention and selling pressure: Absence of equity grants and vesting schedules implies negligible forced selling pressure from expiring awards; retention may rely on non-cash factors or future equity plan adoption, increasing uncertainty about long-term incentives .
- Governance and related-party complexity: Extensive related-party financing and transactions (Alset/AIL credit facility, debt conversions, SHRG notes/loans) under a changing auditor landscape place elevated demands on CFO oversight, internal controls, and independence—key risks to execution and financial reporting quality .
- Compensation structure transparency: Lack of disclosed executive cash pay, performance metrics, severance/change-in-control terms, or clawbacks reduces investor visibility into pay-for-performance alignment and downside protections; watch for future adoption of stock awards plan and performance frameworks .