Goaland Energy has appointed Li Mumo, daughter of chairman Li Qi and born in 2002, as the company's deputy general manager. Li Mumo was just elected as a non-independent director in mid-May this year, moving from director to deputy general manager in just over two months. She holds permanent residency in the United States and earned a bachelor's degree from the University of Pennsylvania in 2024. She currently holds no company shares. Earlier in 2023, Goaland Energy had planned a private placement of no more than 400 million yuan to Hainan Mulan Investment Co., Ltd., in which Li Mumo and her mother Liu Yancun hold stakes. If completed, this would have changed the company from having no actual controller to being jointly controlled by Li Qi, Liu Yancun, and Li Mumo. However, the private placement ultimately did not materialize as the registration approval expired automatically.
Guangzhou Goaland Energy Conservation Tech Co LtdAppointment of inexperienced family member to key management role raises governance concerns; failed private placement indicates capital-raising difficulties.