Lili Hu
About Lili Hu
Lili Hu (age 47) is Chief Financial Officer and a director of Planet Green Holdings Corp., serving since June 2019; she is a CPA in China with a degree in accounting from Hubei University of Science and Technology . During her tenure, Planet Green’s net revenues fell from $17.66M in 2023 to $6.73M in 2024 (−62%), while net loss narrowed from $20.84M to $7.33M (−65%), and the company reported material control weaknesses and going‑concern risk; shareholder TSR (value of $100) moved from 63.78 (2022) to 80.16 (2023) to 52.74 (2024) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Xianning Bozhuang Tea Products Co., Ltd. (PLAG subsidiary) | Financial Director | Jul 2018–present | Led finance at core consumer products subsidiary . |
| Hubei Puhua Lixin LLP (audit firm) | Audit Project Manager | Jun 2016–Jun 2018 | Audit leadership; strengthens controls background . |
| Houfu Medical Device Co., Ltd. | Financial Manager | May 2014–May 2016 | Industry finance experience (medical devices) . |
| Hebei Rentian Gaopeng Mechanical Co., Ltd. | Financial Director | Jan 2009–Dec 2013 | Manufacturing finance leadership . |
| Hubei Hongfa Telecommunications Co., Ltd. | Chief Financial Officer | Jan 2006–Jun 2008 | Telecom CFO role; early executive finance tenure . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| — | — | — | No public company directorships disclosed . |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary (USD) | $84,000 | $84,000 |
| Target Bonus (%) | Not disclosed | Not disclosed |
| Actual Bonus Paid (USD) | $0 | $0 |
| Perquisites | Not disclosed | Not disclosed |
Notes: Employment agreement provides base salary and standard benefits; no stock-based compensation paid/reserved in last fiscal year .
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual cash incentive | Not disclosed | — | — | — | — | — |
| Equity (RSUs/PSUs/Options) | None disclosed for Hu | — | — | — | — | — |
Company-wide “pay versus performance” shows TSR index and net income trends; the Compensation Committee does not use CAP to make decisions .
Equity Ownership & Alignment
| Holder | Shares Beneficially Owned | % of Class |
|---|---|---|
| Lili Hu | — | — |
- Ownership guidelines and compliance status: not disclosed .
- Hedging/pledging: Company policy prohibits hedging, short sales, and derivatives; trading only permitted under 10b5‑1 plans as specified .
- Alignment view: As CFO and director with no reported equity ownership, alignment to shareholder value via equity is limited; reliance is on cash compensation and company policies .
Employment Terms
| Term | Detail |
|---|---|
| Role start date | CFO since June 2019; director since at least 2019 per 2025 proxy (director service also referenced as from 2020 in 2024 proxy) . |
| Contract term/renewal | Employment agreement renewed annually (June 24, 2020/2021/2022/2023) . |
| Base salary | $84,000 per year . |
| Severance | If terminated without cause or resigns for good reason: accrued salary, vested equity (if any), plus 3 months’ salary . |
| Non‑compete | 2 years post‑termination . |
| Clawback | Company adopted SEC/Nasdaq‑aligned clawback policy for incentive compensation tied to restatements . |
| Insider trading | Strict prohibitions (no short‑term trades, shorts, puts/calls; limited 10b5‑1 plans) . |
| Change‑of‑control plan terms | Company’s 2025 Equity Incentive Plan provides for potential accelerated vesting upon certain change‑of‑control/asset sale scenarios (plan‑wide; not individual grants) . |
Board Governance
- Board service: Director nominee; board currently five members; one‑year terms; re‑election slate includes Hu .
- Committee memberships: Audit, Compensation, and Nominating committees comprised of independent directors (Hu and CEO are not independent); Hu is not listed as a committee member .
- Independence status: Not independent under NYSE American rules .
- Board meeting attendance: Board met 12 times in 2024; each director attended at least 75% of meetings .
- Leadership structure: CEO also serves as Chairman; no Lead Independent Director .
- Executive sessions frequency: Not disclosed .
Director Compensation
| Component | Amount |
|---|---|
| Cash retainer/fees | Not separately disclosed for Hu (reported as employee salary; director cash schedules for independent directors disclosed) . |
| Equity grants | None disclosed for directors in 2023–2024 . |
| Meeting/committee fees | Not disclosed . |
| Ownership guidelines | Not disclosed . |
Performance & Track Record
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| TSR – value of $100 | 63.78 | 80.16 | 52.74 |
| Net Income (USD) | $(25.85)M | $(20.84)M | $(7.33)M |
| Net Revenues (USD) | — | $17.66M | $6.73M |
- Internal control and certifications: Company disclosed material weakness in ICFR; Hu signed SOX 302/906 certifications on 10‑Q filings (Q2 and Q3 2025) .
- Restatement: 8‑K reported non‑reliance and restatement of Q2 2024 due to misclassification related to disposal of Allinyson Ltd. .
- Going concern: Auditor and management highlighted substantial doubt; working capital deficit and accumulated deficit persisted .
- Litigation: Multiple operating subsidiary disputes disclosed; none specific to Hu .
Compensation Structure Analysis
- Mix: 100% cash salary; no disclosed annual incentives or equity awards for Hu in 2023–2024, indicating low at‑risk pay and weak pay‑for‑performance linkage at the CFO level .
- Equity program change: 2025 Equity Incentive Plan adds options/RSUs capability and acceleration provisions; monitor for future grants to Hu (potential shift toward equity) .
- Governance protections: Clawback policy adopted; plan prohibits repricing of options/SARs, reducing pay design red flags .
Compensation & Incentives Detail
| Item | Disclosure |
|---|---|
| Stock awards (RSUs/PSUs) | None for Hu in 2023–2024 . |
| Option awards (strike/term/vesting) | None for Hu in 2023–2024 . |
| Performance metrics tied to pay | Not disclosed; Compensation Committee notes CAP not used for decisions . |
| Retention/sign‑on bonus | Not disclosed . |
| Change‑of‑control terms | Plan‑level acceleration; individual employment agreements for Hu do not specify equity acceleration (no grants) . |
| Tax gross‑ups/perqs | Not disclosed . |
| Deferred comp/pension | Not disclosed . |
Equity Ownership & Pledging
| Category | Detail |
|---|---|
| Beneficial ownership | Hu reported no beneficial ownership; group control concentrated with CEO Bin Zhou (~20.5%) . |
| Pledging | Policy restricts hedging/derivatives/shorts; pledging not specifically disclosed, but policy aims to prevent misalignment . |
Employment & Contracts (Retention Risk)
| Aspect | Detail |
|---|---|
| Term & auto‑renewal | Renewed annually; indicates stability but short duration . |
| Severance economics | 3 months salary on no‑cause/good‑reason termination; modest cushion . |
| Non‑compete/non‑solicit | Non‑compete 2 years; non‑solicit not specifically disclosed . |
| Garden leave/post‑termination consulting | Not disclosed . |
Compensation Committee Analysis
- Composition: Independent directors only; chaired by Luojie Pu .
- Consultant/conflicts: No consultant conflicts disclosed; committee cannot delegate responsibilities .
- Management input: CEO and CFO provide recommendations for other executives’ pay—note dual role of Hu (executive + director) while not independent .
Risk Indicators & Red Flags
- Financial reporting: Material weakness in ICFR; CFO certifications; prior restatement—heightened controls risk .
- Liquidity: Going concern and working capital deficit—elevated execution risk .
- Governance: CEO also Chair; no Lead Independent Director—oversight concentration .
- Hedging/pledging: Strong prohibitions reduce alignment risk .
- Related party transactions: None disclosed in 2024; audit committee oversight framework in place .
Say‑on‑Pay & Shareholder Feedback
- 2025 proxy includes advisory say‑on‑pay proposal; outcome not provided here (see subsequent 8‑K for vote results) .
Expertise & Qualifications
- Credentials: CPA (China); accounting degree; 10+ years of accounting/finance leadership in manufacturing, telecom, medical devices, and audit .
- Board qualifications: Finance and management expertise; governance experience as director .
Work History & Career Trajectory
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Planet Green Holdings Corp. | CFO; Director | Jun 2019–present | Principal financial and accounting officer; director . |
| Multiple PRC companies | Finance roles (FD/FM/CFO) | 2006–2018 | Progressive finance leadership across sectors . |
| Hubei Puhua Lixin LLP | Audit Project Manager | 2016–2018 | Audit management; strengthens governance profile . |
Investment Implications
- Alignment: Absence of disclosed equity ownership or performance‑linked incentives for the CFO suggests low direct pay‑for‑performance alignment; monitor potential grants under the newly approved 2025 Equity Incentive Plan .
- Retention: Annual renewals with modest severance and strong non‑compete could deter immediate departure but offer limited economic retention; watch for compensation adjustments as liquidity improves .
- Trading signals: Strict insider trading prohibitions and clawback policy reduce risk of opportunistic selling; lack of insider ownership diminishes insider alignment signal .
- Governance risk: Combined CEO/Chair and material ICFR weakness, restatement, and going‑concern risk elevate execution/governance concerns, potentially increasing equity risk premia until remediation and profitability improve .
- Performance context: 2024 revenue contraction and TSR decline vs. 2023 highlight operating stress; any future equity‑based awards for Hu should be scrutinized for robust performance metrics (TSR, revenue/EBITDA growth) and clear vesting to align incentives .