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BAIC Motor names 5 new directors

Shareholders of Chinese automobile manufacturer BAIC Motor Corp. Ltd elected new nonexecutive directors at the annual general meeting held June 29.

Hai Lei, Yuanxian Shang, Xiaolei Yan, Wei Xie and Ruifang Jiao were elected as directors for a term commencing June 29 until the expiration of the third session of the board.

Meanwhile, Baocheng Zhu, Xiyong Zhang and Jianyong Zhang resigned as nonexecutive directors the same day. They confirmed that they have no disagreement with the board.

BAIC Motor shareholders also approved a final dividend of 0.10 yuan per share for the year 2017, payable on Aug. 24 to shareholders on record as of July 11.

As of June 28, US$1 was equivalent to 6.62 Chinese yuan.