Albert Yu
About Albert Cheung-Hoi Yu
Independent director of Keen Vision Acquisition Corporation (KVAC) since October 2021; age 68 as disclosed in the 2024 proxy . He is a neuroscientist and biotech entrepreneur: Professor at Peking University since December 2001 and founder/chairman/CSO of Hai Kang Life Corporation Ltd since May 1999, with prior research roles at Stanford and UCSF . Education: BSc, MSc, PhD from the University of Saskatchewan . Independent under Nasdaq rules; determined by KVAC’s Board that Yu (with Ding and Chu) is independent .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| University of California, San Francisco | Assistant Academic Researcher | Jul 1984 – Sep 1989 | Neuroscience research |
| Stanford University (Dept. of Pathology) | Research Associate/Senior Research Associate; Visiting Associate Professor | Oct 1989 – Oct 1994; Feb 1994 – Aug 1996 | Research/teaching |
| Hong Kong Univ. of Science & Technology | Lecturer/Assistant Professor | Feb 1994 – Dec 2001 | Teaching/research |
| Peking Univ. Infectious Disease Research Center | Professor | Sep 2006 – Dec 2017 | Infectious disease research |
| Neuroscience Research Institute, Peking Univ. | Vice Director | Dec 2006 – Dec 2018 | Key national lab leadership |
| Hong Kong Science and Technology Parks (HKSTP) | Director | Jul 2011 – Jun 2017 | Innovation ecosystem governance |
| Chinese Neuroscience Society | Vice Director | Oct 2015 – Oct 2019 | Professional society leadership |
External Roles
| Organization | Role | Since | Notes |
|---|---|---|---|
| Peking University | Professor | Dec 2001 – present | Glia and neuro-diseases research |
| Hai Kang Life Corporation Ltd | Founder, Chairman & CSO | May 1999 – present | Molecular diagnostics |
| Sirnaomics Ltd | Independent Non-Executive Director | Jul 2021 – present | RNAi therapeutics |
| CR-CP Life Science Fund Mgmt Ltd | Independent Director | May 2021 – present | VC fund |
| BIOHK Limited | Director | Feb 2019 – present | Biotech convention organizer |
| HKEX Biotech Advisory Panel | Panel Member | Apr 2018 – present | Market listing advisory |
| GBA Biotechnology Alliance (GBABA) | Director/Founder/Chairman | Dec 2017 – present | Regional biotech alliance |
| Gordon Research Conferences | Board of Trustees | May 2016 – present | Scientific conferences |
| Asian Fund for Cancer Research | Director | Jul 2011 – present | Non-profit |
| HKBIO | Founder & Chairman | Sep 2009 – present | Industry association |
| Hong Kong DNA Chips Ltd | Director | Apr 2007 – present | Diagnostics |
| DNA-Tech Ltd (Hai Kang Life subsidiary) | Director | Feb 2002 – present | Clinical diagnostics |
Board Governance
- Independence: KVAC determined Yu (with Ding and Chu) is independent under Nasdaq rules .
- Committee assignments and roles:
- FY2023 (as disclosed): Audit Committee member (with Ding and Prof. Li); Compensation Committee chair (with Ding and Prof. Li); Nominating Committee member (Prof. Li as chair) .
- Change in 2024: Prof. Li resigned Mar 13, 2024; William Chu appointed as director, became Audit and Compensation Committee member and Chair of the Nominating Committee, implying Yu remains on Audit and Compensation and likely continues as Compensation Committee Chair post-change .
- Audit Committee Financial Expert: Peter Ding designated; not Yu .
- Attendance/engagement: For fiscal year 2023, the Board held no meetings, acting by written consent; Audit, Compensation, and Nominating committees held no meetings in 2023 .
Fixed Compensation
| Component | Amount/Status | Source |
|---|---|---|
| Annual cash retainer | Not paid pre-business combination (no compensation or fees of any kind) | |
| Committee chair/member fees | Not paid pre-business combination | |
| Meeting fees | Not paid pre-business combination | |
| Reimbursements | Out-of-pocket expenses reimbursable; no cap disclosed |
Performance Compensation
| Component | Status/Structure | Source |
|---|---|---|
| Equity awards (RSUs/PSUs/options) | None disclosed for directors pre-business combination | |
| Performance metrics/targets | Not applicable (no director compensation program pre-combination) | |
| Clawback/COC/severance | Not applicable to directors pre-combination; KVAC has a Code of Ethics; no director employment contracts beyond indemnification |
Other Directorships & Interlocks
| Company/Entity | Role | Potential Interlock/Notes |
|---|---|---|
| Sirnaomics Ltd | Independent Non-Executive Director | Biopharma governance role could intersect with SPAC target sourcing in biotech |
| CR-CP Life Science Fund Mgmt Ltd | Independent Director | Investment fund role; related-party controls via Audit Committee policy |
| BIOHK, HKBIO, GBABA, HKEX Biotech Panel | Director/Chair/Panel Member | Broad biotech ecosystem ties may provide deal flow and create perceived conflicts; policy requires disinterested director approval for related-party transactions |
Expertise & Qualifications
- Deep biotechnology and neuroscience expertise; academic leadership at Peking University and extensive biotech entrepreneurship .
- Governance experience across numerous scientific and industry bodies; KVAC Compensation Committee chair; Audit Committee member .
- The Board affirms director independence and maintains Audit, Compensation, and Nominating charters; Audit Committee oversees related-party reviews .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Record Date/Context |
|---|---|---|---|
| Albert Cheung-Hoi Yu | 20,000 | ~0.10% (20,000 / 19,366,075) using 19,366,075 outstanding | Sep 26, 2024 outstanding count 19,366,075; individual holdings 20,000 |
| Albert Cheung-Hoi Yu | 20,000 | ~0.18% (20,000 / 10,820,727) using 10,820,727 outstanding | Jun 27, 2025 outstanding count 10,820,727; individual holdings 20,000 |
Notes:
- Both proxy tables classify Yu’s ownership as “less than 1%” .
- No pledging disclosure; Section 16 filings were represented as timely, but no specific transactions are enumerated in the proxy .
Insider Trades
| Item | Disclosure |
|---|---|
| Section 16 compliance | Company states required Forms 3/4 were timely filed by officers, directors, and >10% holders; no specific transactions summarized in the proxy |
Governance Assessment
- Strengths: Independent director with relevant sector expertise; serves as Compensation Committee Chair and Audit Committee member; KVAC has formal related-party transaction review via independent Audit Committee and Articles requiring disinterested director approval, mitigating conflicts if any arise .
- Weaknesses/Risks:
- Time-commitment risk: Yu concurrently holds roles in 22 organizations; may constrain availability, though SPAC boards are typically light pre-merger .
- Engagement signal: No Board or committee meetings were held in 2023 (actions by written consent), limiting observable attendance/engagement metrics .
- Alignment: Personal KVAC share ownership is modest (20,000 shares; <1%), while sponsor control is significant; typical of SPAC structures but implies limited personal downside for independent directors .
- Conflict controls: KVAC policy routes related-party transactions to the Audit Committee; Articles require disinterested director approval and allow conflicted directors to vote only after satisfying conflict procedures, providing a governance framework should Yu’s external roles intersect with potential targets .
Related-Party & Structural Context (KVAC)
- Sponsor/admin agreements and sponsor extension loans create customary SPAC-related related-party exposures; Audit Committee reviews such payments quarterly .
- No director pay pre-business combination; only expense reimbursements; no employment agreements beyond indemnification for directors .
Summary Signals for Investors
- Yu brings high domain expertise and broad biotech network, supportive for diligence and target assessment in life sciences, but numerous external commitments and low disclosed KVAC equity ownership temper alignment and availability signals .
- Committee leadership (Compensation Chair) and independence are positives; absence of 2023 meetings reflects early-stage SPAC operations rather than engagement shortfalls, yet limits visibility into oversight cadence .