Ma Jiayang
About Ma Jiayang
Ma Jiayang, age 29, is an independent director of Longduoduo Company Limited (LDDD). She has been employed as a lawyer since September 2019 at Inner Mongolia Shuoda Law Firm, specializing in ownership and financial contract dispute resolution; she has served as legal advisor to local government entities and to the Baotou Branch of China Construction Bank. Ma holds a Bachelor’s degree in law from Inner Mongolia University (2019), and was determined independent under Nasdaq rules in the Board’s November 30, 2023 review .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Inner Mongolia Shuoda Law Firm | Lawyer (ownership disputes, financial contract disputes) | Sep 2019–present | Legal advisor to Baotou Education Bureau; Shahe South & West Villages (Erdao, Baotou); Baotou Branch of China Construction Bank |
External Roles
| Entity | Role | Dates | Notes |
|---|---|---|---|
| Baotou Education Bureau | Legal advisor | Not specified | Advisory capacity disclosed in director bio |
| Shahe South Village; West Village (Erdao, Baotou) | Legal advisor | Not specified | Advisory capacity disclosed |
| China Construction Bank, Baotou Branch | Legal advisor | Not specified | Advisory capacity disclosed |
Board Governance
- Independence: Board determined Ma Jiayang is independent (Nasdaq rules) in its 11/30/2023 annual review .
- Committee assignments:
- Audit Committee member (Chair: Shan Bo; Shan deemed financial expert) .
- Compensation Committee member (Chair: Wu Binbin; members include Xu Huibo, who is not independent) .
- Nominating & Corporate Governance Committee Chair (members: Ma Jiayang, Wu Binbin, Shan Bo) .
- Board and committee activity:
- Board formally met once in FY 2024; acted by unanimous written consent three times; committees did not hold formal meetings in FY 2024 .
- All directors and nominees are expected to attend annual meetings .
- Election results (2025 AGM): Unanimous support; 25,601,838 votes “for”, 0 “withheld” or broker non-votes for Ma and each nominee; auditor ratification also unanimous .
| 2025 AGM Vote | Votes For | Votes Withheld | Broker Non-Votes |
|---|---|---|---|
| Director election – Ma Jiayang | 25,601,838 | 0 | 0 |
| Auditor ratification (FY 2025) | 25,601,838 | 0 | 0 |
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer | $0 | Independent Director Agreement for Ma provides service “without cash compensation” |
| Committee membership fees | $0 | No committee fees disclosed for Ma |
| Committee chair fees | $0 | Only Shan Bo receives RMB25,000 (~$3,427) per quarter; Ma’s chair role has no cash compensation disclosed |
| Meeting fees | $0 | None disclosed |
Performance Compensation
| Instrument | Grant Date | Quantity/Terms | Performance Metrics | Vesting |
|---|---|---|---|---|
| RSUs/PSUs | None | None authorized; no grants to directors | ||
| Stock options | None | None authorized; no grants to directors | ||
| Cash incentive (bonus) | None | No director cash incentive program disclosed |
- Equity plans: “No securities authorized for issuance under any equity compensation plan”; no stock options or equity incentive awards to directors .
- Performance metrics in director pay: None disclosed .
Other Directorships & Interlocks
- Other public company boards: None disclosed for Ma Jiayang in LDDD proxies .
- Interlocks/conflicts: No related-party transactions involving Ma reported for FY 2024–FY 2025; the proxy states no related party transactions meeting SEC Item 404 thresholds (other than CEO/major shareholder advances) .
Expertise & Qualifications
- Legal expertise in ownership and financial contract disputes; advisory experience with government bodies and a major bank branch .
- Governance role: Chair of Nominating & Corporate Governance Committee (agenda-setting, board composition/governance principles) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding Shares |
|---|---|---|
| Ma Jiayang | — (none reported) | — (not reported) |
- Shares outstanding at record date: 30,005,016 common shares (Jan 9, 2025) .
- Director ownership context: Majority holder Zhang Liang owns 15,392,015 shares (51.3%) .
Governance Assessment
- Committee independence: Compensation Committee includes one non-independent (Chair Wu is independent, but Xu Huibo is not); this departs from typical U.S. best practice of fully independent compensation committees and may raise governance risk if the company lists on Nasdaq in future .
- Nominating leadership: Ma chairs the Nominating & Corporate Governance Committee, providing independent oversight of board composition and governance principles; positive for board effectiveness .
- Attendance/engagement: Limited formal activity in FY 2024 (one board meeting; committees held no formal meetings), which can constrain committee effectiveness; monitoring needed as the company matures .
- Pay and alignment: Ma receives no cash compensation and has no disclosed equity ownership; while it limits cash outlay, lack of equity stake or ownership guidelines may reduce alignment with shareholder value creation .
- Shareholder support: 2025 director elections and auditor ratification were unanimously approved, signaling strong investor confidence (or highly concentrated ownership) at this stage .
- Related-party and conflicts: No related-party transactions involving Ma; prior related party balances involved majority shareholder/CEO, not Ma .
RED FLAGS
- Compensation Committee not fully independent (includes non-independent member Xu Huibo), which could be inconsistent with exchange listing governance standards and investor expectations .
- Minimal formal committee activity (FY 2024) suggests potential underdeveloped oversight processes as a newly public company; requires future improvement for robust governance .