Hongshu Chairman and Vice Chairman Resign, Re-election Expected on August 4

Hongshu (3131-TW), a major manufacturer of wet process equipment, announced today (27) that Chairman Zhang Taishan and Vice Chairman Zhang Hongtai will resign from their positions as Chairman and Vice Chairman, respectively, and will be re-elected at the board meeting on August 4. Both will continue to serve as directors. The industry expects Vice Chairman and CEO Zhang Hongtai to return to the position of Chairman.

Hongshu announced today that Zhang Taishan and Zhang Hongtai, the two brothers, have consecutively resigned from their positions as Chairman and Vice Chairman, attracting external attention. Hongshu emphasized that the company will re-elect the Chairman and Vice Chairman at the board meeting on August 4, and both will continue to serve as company directors, continuing to perform their director duties in accordance with the law.

Zhang Hongtai was originally the Chairman of Hongshu and was transferred to the position of Vice Chairman in June last year. It was expected that he would gradually retire to the background, but the company's insider case caused Zhang Hongtai to quickly return to the position of General Manager, reorganizing the company's organization and stabilizing internal morale. Recently, with the rapid development of advanced packaging technology, it has been reported that Zhang Hongtai intends to return to the position of Chairman to drive the company forward.

Hongshu has recently benefited from the trend of advanced packaging, including processes related to CoWoS, WMCM, FOPLP, Hybrid Bonding, and HBM, with supply not meeting demand and orders already booked into next year. Recently, one of Hongshu's customers, Licheng (6239-TW), announced a joint venture with Broadcom (AVGO-US) to build a factory in Singapore, making Hongshu a major beneficiary.