Ming Li Chairman Sun Hong Steps Down, Lin Shih-Tung Takes Over

Ming Li, a manufacturer of automation systems and components, has announced a change in its board leadership. Founder Sun Hong has resigned as chairman today. The board has elected him as Honorary Chairman and appointed CEO Lin Shih-Tung as the new chairman.

Ming Li announced that Sun Hong has stepped down from the chairman role but will remain on the board as a director. The company held a board meeting to elect Lin Shih-Tung as the new chairman.

The company stated that the leadership change aims to establish a foundation for long-term development, initiate generational succession in senior management, ensure sustainable growth, and complete a phased transition to support the company’s new strategic direction.

Sun Hong, the company's founder, has dedicated nearly 40 years to Ming Li, guiding it through various challenges and building it into the organization it is today. The board unanimously elected him as Honorary Chairman in recognition of his achievements and successful leadership transition.

To repay bank loans and strengthen working capital, Ming Li’s board approved a cash capital increase by issuing up to 8.5 million ordinary shares. Additionally, the board approved the issuance of a third domestic unsecured convertible bond with a maximum face value of NT$1 billion, to be publicly offered through competitive auction.