Mengshu Shao
About Mengshu Shao
Mengshu Shao, 33, serves as Chief Financial Officer (appointed January 3, 2025) and director (since October 23, 2024) at Inno Holdings Inc.; she holds a master’s degree in accounting from Jinan University and previously led internal audit functions at Agile Group, with earlier roles at Cedar Holdings and PwC Mainland China . INHD’s recent fundamentals show modest revenue growth with materially negative EBITDA, underscoring early-stage scale-up dynamics: see table below.
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenues ($USD) | $799,747 | $885,495 |
| EBITDA ($USD) | -$3,914,571* | -$3,262,475* |
Values with asterisk retrieved from S&P Global.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Agile Group | Internal Audit Manager | Oct 2021 – Sep 2024 | Led operational audits, risk assessment, internal control evaluations, and compliance monitoring . |
| Cedar Holdings | Internal Auditor | May 2019 – Sep 2021 | Supported risk management and operational audits; strengthened internal controls . |
| PwC Mainland China | Auditor | Aug 2016 – Apr 2019 | External audit experience and financial reporting rigor . |
External Roles
- No public-company directorships or external board roles disclosed .
Fixed Compensation
- CFO appointment: effective January 3, 2025; no base salary, target bonus, or 2025 pay details disclosed in the proxy or 8-K .
- For context, CEO Ding Wei is compensated at $60,000 annually (subject to continued service), highlighting a lean cash compensation posture at the company level .
Performance Compensation
- Company-wide plan design (2025 Omnibus Incentive Plan) authorizes equity and cash awards with performance goals that may include revenue, EBITDA/EBIT, EPS, margin, ROE/ROA, TSR, market share, cash flow, and other strategic milestones; specific metric weighting/targets for Shao were not disclosed .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 51,355 shares; 1.16% of outstanding . |
| Equity grants | Granted 51,355 shares under the 2023 Omnibus Plan (as of proxy date); grant/vesting specifics not disclosed . |
| Options/Warrants | None disclosed for Shao; company reported no outstanding NEO equity awards as of FY 2024 (Shao was not an NEO at FY 2024) . |
| Pledging/Hedging | No pledging or hedging disclosures specific to Shao . |
| Ownership guidelines | No director/executive stock ownership guideline disclosure identified . |
Employment Terms
- Appointment and selection: Director since Oct 23, 2024; appointed CFO Jan 3, 2025; no special arrangements or related-party transactions related to her appointment .
- Employment agreements: Company stated NEOs were not subject to employment agreements as of FY 2024; severance/change-in-control provisions for NEOs were not in place at that time .
- Clawback policy: Executive compensation recoupment policy adopted Oct 30, 2023 per SEC/Nasdaq Rule 10D-1, covering incentive-based awards upon restatements or misconduct .
Board Governance
- Board service history: Director since Oct 23, 2024; currently also CFO (dual role) .
- Independence: Not independent due to employment; Board affirmed 3 of 5 directors are independent (Qu, Tu, Mo) .
- Committees: Shao is not listed on Board committees; all three committees (Audit, Compensation, Nominating & Corporate Governance) are staffed by independent directors with Yufang Qu as chair .
- Attendance: Board reported FY 2024 attendance of at least 80% among directors who served during the year .
- Director compensation: Independent directors receive $10,000 cash annually for Board service; employee-directors (e.g., CEO/CFO) typically are not covered by independent director fees in this disclosure .
Performance & Track Record
- Legal proceedings: None reported for directors/officers over the past ten years in the proxy .
- Beneficial ownership context: Largest reported holder West Lake Club Inc. at 14.51% (for capitalization/ownership landscape) .
Compensation Committee Analysis
- Composition and leadership: Compensation Committee chaired by independent director Yufang Qu; members are independent (Tu, Mo) .
- Consultants: No independent compensation consultant disclosures identified .
Investment Implications
- Alignment: Shao’s 1.16% stake (51,355 shares) and equity grant under the 2023 plan create tangible alignment, though vesting terms and performance conditions for her awards are not disclosed—limiting visibility on pay-for-performance calibration .
- Governance comfort: Dual role (CFO + director) reduces independence, but committee oversight resides entirely with independent directors (Qu chairs all three), which mitigates compensation/governance conflicts .
- Retention/contract economics: Absence of disclosed employment/severance/CIC protections suggests limited guaranteed exit economics; recoupment policy signals stronger clawback posture on incentive pay .
- Operating backdrop: Low revenue base and negative EBITDA highlight execution risk; compensation levers should ideally tie to profitability/cash metrics as contemplated under the 2025 plan, though actual targets/weights for Shao are not disclosed . Revenues and EBITDA shown above come from S&P Global and company filings *.
Values with asterisk retrieved from S&P Global.