CFO Transition: Innovent Bio Announces Retirement of Chief Financial Officer Xi Hao, Appoints Yu Fei as Successor

In a recent announcement, Innovent Bio, a leading biopharmaceutical company focused on innovative drugs in the fields of oncology, immunology, metabolism, and ophthalmology, revealed the retirement of its Chief Financial Officer (CFO), Xi Hao. The company also disclosed the appointment of Yu Fei as the new CFO, effective February 5, 2024. This transition in leadership marks a significant milestone for Innovent Bio as it continues to navigate the dynamic landscape of the biopharmaceutical industry.

Retirement of Chief Financial Officer Xi Hao:

After serving as Innovent Bio' CFO, Xi Hao has decided to step down from his position. However, he will retain his position on the company's board as an executive director, actively participating in strategic decision-making processes. Xi Hao's contributions to the company have been invaluable, having played a pivotal role in the formulation of corporate strategies, financial management, and business development. His leadership was instrumental in guiding Innovent Bio through its initial public offering on the Hong Kong Stock Exchange and subsequent financing activities, establishing a solid foundation for the company's growth.

Appointment of Yu Fei as Chief Financial Officer:

Taking over the role of CFO from Xi Hao is Yu Fei, who assumes the position with effect from February 5, 2024. Yu Fei brings more than 20 years of professional experience in financial management, strategic investments, and corporate financing. Prior to joining Innovent Bio, she served as the CFO of Jinxin Reproductive Medical Group, successfully leading its listing on the Hong Kong Stock Exchange. Yu Fei has held various management positions at organizations such as Sanbio Group (Stock Code: 1530) and PricewaterhouseCoopers, showcasing her expertise in different facets of financial management. With her extensive background, Yu Fei is well-equipped to oversee Innovent Bio' financial operations and capital market activities.

Implications for Innovent Bio:

The transition in CFO leadership represents a significant juncture for Innovent Bio as it continues to pursue its mission of developing innovative drugs to address major diseases. The company's commitment to research, production, and sales in the fields of oncology, immunology, metabolism, and ophthalmology remains steadfast. With Yu Fei at the financial helm, Innovent Bio aims to further enhance its financial management practices, strengthen its position in the capital market, and drive sustained growth and success.

Innovent Bio has announced the retirement of its CFO, Xi Hao, and the appointment of Yu Fei as the new CFO. Xi Hao's contributions have been instrumental in the company's development, and he will continue to serve on the board. Yu Fei, with her extensive financial expertise, is poised to lead Innovent Bio into its next phase of growth and strategic decision-making. This transition in CFO leadership sets the stage for the company's continued pursuit of innovative drugs in the biopharmaceutical industry.