MicroPort (0853): Governance reset may strengthen the path to trade resumption

We view MicroPort's leadership changes and proposed governance measures, announced on 25 October, as meaningful progress in rebuilding investor confidence. The recent lease-related audit review and the governance-enhancement moves point to greater influence of state-linked shareholders. Though stock trading resumption and the lease review still lack a timetable, we believe the governance reset may strengthen the path towards stock trading resumption. Effective 22 October, founder Dr. Zhaohua Chang resigned as director and from other related positions, while remaining chief scientific officer;