Leadership Turmoil at Singularity Future Technology Following Board Exodus

Singularity Future Technology Ltd. finds itself navigating a fresh governance crisis after three members of its board of directors resigned abruptly. The departures, disclosed in an SEC Form 8-K filing on Friday, come a mere week after the directors were initially appointed, casting a shadow over the company’s leadership stability.

The three independent directors—Ping Li, Mhlengi Prevail Mafu, and Lirong Huang—had only just joined the board on October 29. Their appointments included an annual compensation of $24,000 each for their roles. However, their tenure concluded after just seven days. In its regulatory filing, the company explicitly stated that the resignations were not the result of any disagreement concerning the company’s Read more...