Mingteng International appoints Yang Xiao as independent director and audit chair

Mingteng International Corp Inc. (NASDAQ:MTEN), a $65.74 million market cap company currently rated "GOOD" by InvestingPro’s Financial Health Score, announced changes to its board of directors on Friday, according to a statement based on a recent SEC filing. The company has shown strong revenue growth of 41.74% over the last twelve months, despite its stock declining 41.49% year-to-date. The company reported that Ms. Ronghua Xu resigned as independent director and chairwoman of the audit committee, effective upon the board’s acceptance of her resignation on August 22, 2025.

The board approved the appointment of Mr. Yang Xiao as independent director, chairman of the audit committee, and member of both the nominating and corporate governance committee and the compensation committee, effective the same day. This appointment comes as the company trades at a notably low P/E ratio of 1.31, suggesting potential undervaluation according to market metrics.

Mr. Xiao has over 15 years of experience in accounting and management consulting. Since March 2012, he has been a shareholder and partner at Hanhua Qinye Management Consulting (Beijing) Co., Ltd., where he is responsible for business operations and has served as a financial advisor in Global Mofy’s IPO (NASDAQ:GMM). He is also a partner at Bohan Furen (Beijing) Accounting Firm, participating in audit work for ETmobile, and has previously worked at several Beijing-based accounting firms. Mr. Xiao holds a bachelor’s degree in accounting from Beijing Wuzi University and has been a certified public accountant in China since 2002 and an international certified internal auditor since 2007.

The board determined that Mr. Xiao is independent under Nasdaq Listing Rules and qualifies as an audit committee financial expert under SEC regulations, citing his education and professional background. Mr. Xiao has no family relationships with other directors or executive officers and has not been involved in any related party transactions with the company in the past two years.

Under the terms of his director offer letter dated August 21, 2025, Mr. Xiao will serve until a successor is elected and qualified, with annual re-appointment by the board. His annual compensation is set at $30,000, payable quarterly.

This information is based on a press release statement provided in a recent SEC filing.

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