Xiaocheng Hao
About Xiaocheng Hao
Xiaocheng Hao is Chief Operating Officer of IMG (CIMG Inc.) since April 30, 2025, following IMG’s acquisition of Shanghai Huomao; he is 46 and holds a bachelor’s in business administration from Central South University of Finance and Economics and an MBA from Xi’an Jiaotong University . Hao brings over 20 years of sales and management experience, having led Shanghai Huomao (CEO, 2021–2025) and chaired Shaanxi E&A Education Technology Co., Ltd. (2014–2021) . The company does not disclose TSR, revenue growth, or EBITDA growth tied to Hao’s tenure or his incentive metrics; compensation for 2024 shows no performance-based payouts for Hao, and equity plans had no awards granted to named executives to date .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Shanghai Huomao Cultural Development Co., Ltd. | Chief Executive Officer; Founder | 2021–2025 | Led Huomao; integration into IMG following acquisition and public positioning under “Food and Medicine from the Same Origin” strategy . |
| Shaanxi E&A Education Technology Co., Ltd. | Chairperson | 2014–2021 | Chaired operations; senior sales/management background in listed companies . |
External Roles
No public company directorships or external board roles disclosed for Hao .
Fixed Compensation
Actual reported compensation
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | — | $0 |
| Stock Awards ($) | — | $0 |
| Option Awards ($) | — | $0 |
| All Other Compensation ($) | — | $0 |
| Total ($) | — | $0 |
Contracted compensation (as of Apr 30, 2025)
| Component | Terms |
|---|---|
| Annual Base Salary ($) | $40,000, paid via Shanghai Huomao payroll . |
| Bonus | Eligible for discretionary cash bonus subject to Board approval . |
| Benefits | Eligible for standard Shanghai Huomao employee benefit plans . |
| Payroll/Withholding | Standard tax/social insurance deduction provisions . |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Discretionary cash bonus | Not disclosed | Not disclosed | Not disclosed | Not disclosed | N/A (cash) |
| Equity awards (RSU/PSU/options) | N/A in FY 2024–2025 | N/A | No grants under 2024 or 2025 plans to date | N/A | Company standard terms accelerate RSUs on termination without cause or change in control; options accelerate on change in control unless assumed; however, no awards granted to date . |
Equity Ownership & Alignment
| Date | Shares Beneficially Owned | Percent of Outstanding | Vested vs. Unvested Shares | Options (Exercisable/Unexercisable) |
|---|---|---|---|---|
| Aug 19, 2025 | — (not individually quantified) | — (management table uses 36,397,418 outstanding; group shows 0%) | None disclosed; no awards outstanding under 2024/2025 plans | None disclosed; no awards outstanding |
- Management and directors as a group held 0 shares (0%) as of Aug 19, 2025; individual executive entries, including Hao, were shown as “—” with no positions disclosed .
- Equity plans: 2013/2019/2023 plans terminated; no awards under 2024 or 2025 plans; 2026 Equity Incentive Plan approved Oct 28, 2025 (future awards not yet disclosed) .
Employment Terms
| Term | Key Provisions |
|---|---|
| Position & Start | COO effective Apr 30, 2025 . |
| Term length | Commences on Effective Date; expires upon earlier death, resignation, or removal (no fixed end date) . |
| Base salary | $40,000 annually, paid via Shanghai Huomao . |
| Bonus eligibility | Discretionary cash bonus at Board’s approval . |
| Non-compete (during employment) | Cannot be employed by or materially interested in competitors; passive holdings under 5% of a listed competitor permitted with notice . |
| Termination for cause | Immediate termination; causes include felony/fraud, gross negligence/dishonesty, willful misconduct or uncured performance failure, or breach of specified sections; no severance beyond unpaid earned salary . |
| Termination without cause | Company may terminate with ≥30 days’ notice; owed unpaid earned salary; severance benefits referenced but amount not specified outside change-of-control case . |
| Executive resignation | If material reduction in authority/compensation, severance benefits referenced; standard resignation with ≥30 days’ notice owed unpaid earned salary . |
| Change-of-control economics | If terminated in connection with a merger/consolidation or sale of substantially all assets: lump-sum cash equal to 12 months base salary; lump-sum cash equal to pro‑rated target annual bonus for the year immediately preceding termination; immediate vesting of 100% of then‑unvested equity awards (if any) . |
| Equity award agreements (company standard) | RSUs: full vesting if terminated without cause or upon change in control; Options: no further vesting after termination; full acceleration upon change in control unless assumed/exchanged . |
| Clawback | Incentive-based compensation subject to recoupment for three fiscal years preceding any required restatement (Exchange Act §10D compliance) . |
Say‑on‑Pay & Shareholder Feedback
| Item | Result (Oct 28, 2025) |
|---|---|
| Say‑on‑Pay (advisory) | Approved: 156,563,197 For; 131,430 Against; 787 Abstain . |
| 2026 Equity Incentive Plan | Approved: 156,513,223 For; 181,863 Against; 328 Abstain . |
| Authorized shares increase | Approved: 156,380,013 For; 312,687 Against; 2,713 Abstain . |
Investment Implications
- Alignment: As of Aug 19, 2025, management group held 0 shares and no RSU/option awards were outstanding under 2024/2025 plans—Hao’s skin‑in‑the‑game appears minimal at that time, reducing alignment but also limiting insider selling pressure .
- Retention risk: Base pay is modest ($40k) with discretionary bonus; severance is robust on change‑of‑control (12 months base plus pro‑rated bonus and full equity vesting if any awards exist), which mitigates CoC retention risk but could incentivize sale outcomes once equity grants commence under the 2026 plan .
- Governance safeguards: A compliant clawback policy is in place (SEC Rule 10D‑1, Nasdaq), and Say‑on‑Pay passed overwhelmingly, supporting compensation governance; however, the absence of disclosed performance metrics or targets tied to NEO pay suggests low pay‑for‑performance rigor to date .
- Execution profile: Hao’s operator background (Huomao founder/CEO) and sector expansion messaging (“Food and Medicine from the Same Origin”) indicate domain focus; future equity awards under the newly approved 2026 plan will be important to monitor for performance conditions, vesting triggers, and potential pledging prohibitions .