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Dr. Shao is the Chairman, Chief Executive Officer and Executive Director of Persistence. He obtained a doctor of philosophy degree in mineral processing from China University of Mining and Technology – Beijing in July 1990. Dr. Shao has over 30 years of experience in ore processing, mining related finance and investment management. Since July 2004, Dr. Shao has been serving as a director of our subsidiary, Majestic Yantai BVI. Dr. Shao has also been an adviser of Majestic Gold Corp. (“Majestic Gold”) since 2004, mainly responsible for formulating group policy and strategies for running the gold mine operation in the PRC and maintaining relationship with the local Chinese business partners.
Mr. Mackie is an Executive Director of Persistence since 2019. He has been serving as director of our subsidiary, Majestic Yantai BVI, since October 2018. Mr. Mackie has over 15 years of experience in financial management and administration, including corporate governance, government and securities compliance. Mr. Mackie was appointed as the chief financial officer and director of Majestic Gold in March 2013. He has since been responsible for corporate finance matters, including technical accounting, risk advisory, planning and forecasting, tax management and treasury functions of Majestic Gold together with its subsidiaries, including Yantai Zhongjia. In November 2013, he resigned as a director and was appointed as the corporate secretary of Majestic Gold.
Mr. Lo is an Executive Director, CFO and Company Secretary of Persistence. Mr. Lo has over 37 years of experience in auditing, accounting, asset management, and financial management. Mr. Lo obtained a bachelor of commerce in accountancy degree from The University of Wollongong, Australia in October 1990 and obtained his master of business administration degree from The Hong Kong Polytechnic University in November 1997. Mr. Lo was admitted as a Certified Practising Accountant of The Australian Society of Certified Practising Accountants in October 1992 and a fellow member of the Hong Kong Institute of Certified Public Accountants (formerly known as Hong Kong Society of Accountants) in December 1998.
Mr. Chen is an Executive Director of Persistence. He has over 38 years of relevant experience in the industry including master planning, preparation of feasibility report, evaluation assessments and environment impact report in major mines in China. Mr. Chen obtained a bachelor’s degree in mineral processing from Wuhan Institute of Technology (formerly known as Wuhan Institute of Chemical Technology) in July 1983. He was qualified as a senior engineer in the PRC in July 1993.
Dr. Malaihollo is an Independent Non-Executive Director of Persistence. He obtained a bachelor’s degree in arts with a major in geological sciences from University of California, Santa Barbara in July 1987 and a doctor of philosophy degree from the University of London in December 1993. He is currently a fellow of each of the Australasian Institute of Mining and Metallurgy (FAusIMM) and Geological Society of London, a member of each of the Geological Society of America and the Association of Mining Analysts. Dr. Malaihollo has served as director of several mining companies listed on AIM and in Australia.
Mr. Chan is an Independent Non-Executive Director of Persistence. He obtained a higher diploma in accountancy, a bachelor of arts degree in accountancy and a master of corporate governance degree from The Hong Kong Polytechnic University in December 2006, December 2007 and October 2013, respectively. Mr. Chan was admitted as a certified public accountant of the Hong Kong Institute of Certified Public Accountants in February 2011 and is currently registered as a certified public accountant (practising). Mr. Chan was admitted to graduateship of The Institute of Chartered Secretaries & Administrators in December 2016 and was admitted as an associate of The Hong Kong Institute of Chartered Secretaries (now known as The Hong Kong Chartered Governance Institute) in November 2019. Mr. Chan has over 15 years of experience in auditing, accounting and financial management.
Dr. Zeng is an Independent Non-Executive Director of Persistence. Dr. Zeng has over 39 years of experience in mineral processing, coal upgrading and coal preparation. Dr. Zeng obtained a bachelor’s degree in coal mining machinery from Chongqing University in December 1982, a master’s degree in mining machinery and a doctor of philosophy degree in mineral processing engineering from China University of Mining & Technology — Beijing in July 1988 and June 2000, respectively. Dr. Zeng qualified as a senior engineer in the PRC in August 1998.
Ms. Liu is an Independent Non-Executive Director of Persistence. Ms. Liu has over 15 years of experience in financial management. Ms. Liu obtained a bachelor’s degree in accounting from the Chongqing University of Technology (formerly known as Chongqing Industry College) in June 1999, a Master’s degree in International Journalism from the City University of London in November 2014 and a Master’s degree in business administration from the Hong Kong University of Science and Technology in November 2022.
Ms. Liu was admitted as a certified public accountant of the Chinese Institute of Certified Public Accountants in June 2008. Ms. Liu obtained the qualification certificate of secretary to the board of directors issued by the Shenzhen Stock Exchange in October 2016 and obtained the qualification certificate of board secretary from the National Equities Exchange and Quotations (NEEQ) in April 2017.
Dr. Shao is the Chairman, Chief Executive Officer and Executive Director of Persistence. He obtained a doctor of philosophy degree in mineral processing from China University of Mining and Technology – Beijing in July 1990. Dr. Shao has over 30 years of experience in ore processing, mining related finance and investment management. Since July 2004, Dr. Shao has been serving as a director of our subsidiary, Majestic Yantai BVI. Dr. Shao has also been an adviser of Majestic Gold Corp. (“Majestic Gold”) since 2004, mainly responsible for formulating group policy and strategies for running the gold mine operation in the PRC and maintaining relationship with the local Chinese business partners.
Mr. Mackie is an Executive Director of Persistence since 2019. He has been serving as director of our subsidiary, Majestic Yantai BVI, since October 2018. Mr. Mackie has over 15 years of experience in financial management and administration, including corporate governance, government and securities compliance. Mr. Mackie was appointed as the chief financial officer and director of Majestic Gold in March 2013. He has since been responsible for corporate finance matters, including technical accounting, risk advisory, planning and forecasting, tax management and treasury functions of Majestic Gold together with its subsidiaries, including Yantai Zhongjia. In November 2013, he resigned as a director and was appointed as the corporate secretary of Majestic Gold.
Mr. Lo is an Executive Director, CFO and Company Secretary of Persistence. Mr. Lo has over 37 years of experience in auditing, accounting, asset management, and financial management. Mr. Lo obtained a bachelor of commerce in accountancy degree from The University of Wollongong, Australia in October 1990 and obtained his master of business administration degree from The Hong Kong Polytechnic University in November 1997. Mr. Lo was admitted as a Certified Practising Accountant of The Australian Society of Certified Practising Accountants in October 1992 and a fellow member of the Hong Kong Institute of Certified Public Accountants (formerly known as Hong Kong Society of Accountants) in December 1998.
Mr. Chen is an Executive Director of Persistence. He has over 38 years of relevant experience in the industry including master planning, preparation of feasibility report, evaluation assessments and environment impact report in major mines in China. Mr. Chen obtained a bachelor’s degree in mineral processing from Wuhan Institute of Technology (formerly known as Wuhan Institute of Chemical Technology) in July 1983. He was qualified as a senior engineer in the PRC in July 1993.
Mr. HUANG Yong (黃勇先生), aged 66, joined Majestic Gold as an on-site consultant at Yantai Zhongjia in December 2014 and has since been responsible to bring in latest technology to improve mining efficiency at our Songjiagou Open-Pit Mine and Songjiagou Underground Mine. He joined our Group as the head of mine operations on 1 August 2020 and is primarily responsible for overall management for exploration and mining operation. Mr. Huang has over 40 years’ experience in mine design and mining consulting.
Mr. Zhou has approximately 10 years of experience in the mining industry. Mr. Zhou joined Yantai Zhongjia as a safety officer on 1 June 2016 and was appointed as head of safety in May 2017. He was subsequently promoted to safety director and assistant general manager in July 2020 and the chairman of the board of Yantai Zhongjia and general manager of Yantai Zhongjia in May 2021.
27/F, One Taikoo Place, 979, King’s Road, Quarry Bay, Hong Kong
22nd Floor, World-Wide House, 19 Des Voeux Road Central, Hong Kong
P.O. Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands
Level 20, Infinitus Plaza, 199 Des Voeux Road Central, Hong Kong
The responsibilities of our board include but are not limited to (i) convening shareholders’ meetings, reporting on our board’s work at these meetings, implementing our shareholders’ resolutions passed at these meetings; (ii) determining business operation, financial, capital and investment plans; (iii) determining internal management structure, setting down fundamental management rules; (iv) appointing and discharging members of senior management, determining directors’ remuneration and formulating our proposals for profit distributions; and (v) exercising other functions and powers empowered by relevant laws, regulations and our articles of association.
We have established an audit committee whose responsibilities are to supervise our internal control, financial information disclosure and financial reporting matters.
We have established a remuneration committee whose responsibilities include but are not limited to making recommendations to our board on the overall policy and structure for remuneration of all our directors and senior management and the establishment of a formal and transparent procedure for developing policy on such remuneration.
We have established a nomination committee whose responsibilities include but are not limited to: (i) reviewing the structure, size and composition of our board; (ii) making recommendations to our board regarding candidates to fill vacancies in our board and/or members of senior management team; and (iii) overseeing the process for evaluating the performance of our board.
We ensure that the members of our board have the appropriate balance of skills, experience and diversity of perspectives that are required to support our business strategy. Pursuant to our Board Diversity Policy, we seek to achieve board diversity through consideration of various factors such as professional experience, skills, knowledge, gender, age, cultural and education background, ethnicity and length of service.
Persistence was incorporated in the Cayman Islands on 21 May 2019. Persistence through its wholly-owned subsidiary – Majestic Yantai Gold Ltd. (BVI) (“Majestic Yantai BVI”) has established Yantai Zhongjia Mining Co. Ltd. (“Yantai Zhongjia”) in Yantai city of Shandong Province, China.
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