Li Yongming Resigns as Vice President of China Construction

On March 11, China Construction Co., Ltd. issued a notice on the departure of senior managers of the company. Details are as follows:

The thirty-first meeting (the "Meeting") of the fourth session of the board of directors of China State Construction Engineering Corporation Limited (the "Company") was held on 11 March 2026. After obtaining the consent of all directors, the meeting shall be conducted by way of written voting by the directors. The meeting considered and approved the Proposal on Li Yongming's Termination as Vice President of China State Construction Engineering Corporation Limited. After his resignation, Mr. Li Yongming will no longer hold any position in the Company.

At present, according to the update of the "Management Team" column on the official website of China Merchants Group Co., Ltd., Li Yongming has been appointed as the director of China Merchants Group. Other information shows that on March 6, China Merchants Group and Tsinghua University signed a strategic cooperation agreement in Beijing. Miao Jianmin, Secretary of the Party Committee and Chairman of China Merchants Group, held talks with Qiu Yong, Secretary of the Party Committee of Tsinghua University and academician of the Chinese Academy of Sciences, and witnessed the signing of the contract. Li Yongming, Deputy Secretary and Director of the Party Committee of China Merchants Group, and Guo Yong, Deputy Secretary of the Party Committee of Tsinghua University, signed the strategic cooperation agreement on behalf of both sides.

Previously, Li Yongming also served as deputy general manager and party member of China Construction Group. According to

his public resume, Li Yongming, male, Han nationality, born in December 1972, born in Pizhou, Jiangsu Province, has a university degree, a master's degree, a professor-level senior engineer and a member of the Communist Party of China.

He served as deputy general manager, general manager and chairman of the First Construction Co., Ltd. of China Construction Eighth Engineering Bureau, deputy general manager, director, general manager and chairman of China Construction Eighth Engineering Bureau, and vice president of China State Construction Engineering Corporation Limited. In March

2023, he was appointed Deputy General Manager and Party Member of China Construction Group. So far, he has assumed the post of Deputy Secretary and Director of the Party Committee of China Merchants Group.

China Merchants Group is an important state-owned backbone enterprise directly managed by the central government, headquartered in Hong Kong, and is one of the earliest Chinese-funded enterprises established and operated in Hong Kong. At present, the company's main business is concentrated in the four major sectors of transportation logistics, comprehensive finance, real estate parks and science and technology industries, involving more than 20 industries such as ports, shipping, logistics, ship repair, highways, banks, securities, insurance, funds, real estate, industrial parks, property management, inspection and testing, bio-manufacturing, bio-medicine, etc.

In 2025, China Merchants Group achieved an operating income of 882.2 billion yuan, a total profit of 228 billion yuan, a net profit of 187.9 billion yuan, and a total assets of 15.6 trillion yuan at the end of the year. For 21 consecutive years, China Merchants Group was awarded the A-level performance appraisal by the SASAC of the State Council, and was awarded the "Excellent Performance Enterprise" for seven consecutive terms.

So far, together with Wu Bingqi, the former deputy general manager of China Construction, who officially served as the party secretary and chairman of the Overseas Chinese Town Group in November last year, two deputy general managers of China Construction Department have taken up their new posts in just half a year.

From the perspective of performance, according to the business briefing issued by China Construction from January to December 2025, the total amount of new contracts signed in the whole year was 4545.8 billion yuan, a slight increase of 1% over the same period last year. Among them, the construction business signed new contracts of 4151 billion yuan, an increase of 1.7% over the same period last year. The White Paper on Market Data of Engineering Construction Industry in 2025-2026, produced by the Data Research Institute of

Construction Tong University, makes a detailed analysis and interpretation of the macroeconomic situation, the development trend of the construction industry market, the market environment of the construction industry, the main body of the construction industry market, the latest technological development of the industry and the overseas construction market.