SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or Section 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
February 25, 2021
WAVE SYNC CORP.
(Exact name of registrant as specified
in its charter)
|(State or other jurisdiction of incorporation)
||(Commission File Number)
||(IRS Employer Identification No.)|
|19 West 44th Street, Suite 1001, New York, NY 10036|
|(Address of principal executive offices)|
Registrant’s telephone number, including
area code: (852) 98047102
|11 Middlebury Blvd, Unit 3, Randolph, NJ 07869|
|(Former name or former address, if changed since last report.)|
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions:
||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
registered pursuant to Section 12(b) of the Act:
|Title of each class
||Name of each exchange on which registered|
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by
check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN
OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
On February 25, 2021, the holder of the majority
outstanding voting stock of Wave Sync Corp., a Delaware corporation, restructured the board of directors (the “Board”)
of the Company by removing Mei Yang, Zuyue Xiang and Minqin Tang from the Board and appointing the following individuals to the
Board (the “New Board”): Jiang Hui, Hon Man Yun, Hong Chen, Xiaoyue Zhang and Ming Yi, effective immediately. Among
the member of the New Board, Ming Yi shall serve as the Chair of the Audit Committee, Hong Chen the Chair of the Compensation Committee
and Xiaoyue Zhang the Chair of the Nominating and Corporate Committee.
On February 25, 2021, the New Board removed
Zuyue Xiang as the Chief Executive Officer (the “CEO”) and Zhenpeng Gao as the Chief Financial Officer (“CFO”)
and appointed Jiang Hui as the new CEO and Hon Man Yun as the new CFO, effective immediately. The New Board believes that the new
CEO and CFO shall use their best efforts to execute the Board’s vision to change the direction of the Company’s business.
Mr. Jiang Hui, age 32, has worked as the executive
vice president at Move the Purchase Consulting Management (Shenzhen) Co., Ltd. from January 2020 till now. Mr. Hui worked as the
Vice President at the Industrial and Commercial Bank of China (New York Branch) from August 2018 to December 2019. Mr. Hui was
the vice president of Industrial and Commercial Bank of China (London) PLC from January 2017 to August 2018, and the chief compliance
officer of investment advisory at Industrial and Commercial Bank of China Financial Services LLC from January 2014 to January 2017.
Mr. Hon Man Yun, age 52, has served in several
financing and accounting positions at different private and publicly traded companies. Mr. Yun has worked as the CFO and a director
at Hudson Capital Inc. from August 2020 until now and the Chief Financial Officer of Kiwa Bio-tech Products Group Corporate from
April 2018 till now. Mr. Yun served a joint company secretary, as a group vice president, the chief accountant and compliance and
internal audit officer for Kaisun Energy Group Limited, from May 2017 till August 2020. Mr. Yun was an associate at China Merchants
Securities (Hong Kong) Co., Limited from December 2014 to May 2017 and financial controller at E Lighting Group Limited from March
2013 to September 2014.
Mr. Hong Chen, age 52, has worked as the Chairman
of the board of directors for Grand Cartel Securities Co., Ltd. (“Grand Cartel Securities”) since 2014 until now. Before
Grand Cartel Securities, Mr. Chen served as the Chairman at China Internet Education Group (a Hong Kong listed company with the
code 8055) from 2008 to 2014, as the CEO for Peking University Business Network from 2002 to 2008, and the CEO of Shenzhen Chenrun
Investment Company from 1998 to 2002.
Mr. Ming Yi, age 40, worked as the Chief Financial
Officer at SSLJ.com Limited from 2018 to 2019. Prior to that, Mr. Yi worked as the Chief Financial Officer for this Company from
2011 to 2018.
Ms. Xiaoyue Zhang, age 32, founded Zoe Creation
LLC in 2019. Previously, Ms. Zhang worked as a Partner at CARA Vision LLC from July 2017 to December 2020. In addition, Ms. Zhang
worked as the marketing coordinator in CheersYou International Education Consulting Inc. from July 2016 to July 2017.
There are no arrangements or understandings
between the Company and each of the newly appointed executive officer or director and any other person or persons pursuant to which
each executive officer or director was appointed and there is no family relationship between or among any director or executive
officer of the Company or any person nominated or chosen by the Company to become a director or executive officer.
There are no transactions between the Company
and any newly appointed executive officer or director that are reportable pursuant to Item 404(a) of Regulation SK. The Company
did not enter into or materially amend any material plan, contract or arrangement with any newly appointed executive officer or
director in connection with his or her appointment as a director or executive officer.
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|February 26, 2021
||WAVE SYNC CORP.|
||/s/ Jiang Hui|
||Chief Executive Officer|