Next Technology Holding Inc. filed a Form 8-K on November 12, 2026, reporting the resignation of Dr. Hongliang Liu as Chief Technical Officer and the appointment of Mr. Chan Phang Chuen to that role, both effective November 9, 2026.

Key Highlights

  • Resignation accepted: Dr. Hongliang Liu resigned as Chief Technical Officer on November 9, 2026; the Board accepted his resignation, which the filing states "was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices."
  • New CTO appointed: The Board approved the appointment of Mr. Chan Phang Chuen, age 35, as Chief Technical Officer, effective November 9, 2026.
  • Base salary: Mr. Chan will receive an annual base salary of US$480,000 under the Employment Agreement dated November 9, 2026.
  • Performance bonus: Mr. Chan is eligible for an annual performance bonus with a target amount equal to 50% of his annual base salary.
  • Special incentive award: Subject to Board approval and research and development progress, the Company may grant Mr. Chan a special incentive award of up to US$10,000,000 per year, payable in cash and/or shares.
  • Employment term: The agreement has a one-year term, renewable upon negotiation, with post-termination non-competition and non-solicitation restrictions lasting 12 months.

CTO Transition at Next Technology Holding: Liu Departs, Chan Phang Chuen Takes the Role

According to the Form 8-K filed with the SEC by Next Technology Holding Inc. (NASDAQ:NXTT), Dr. Hongliang Liu tendered his resignation as Chief Technical Officer on November 9, 2026. The filing specifies that his departure was not related to any disagreement with the Company over its operations, policies, or practices. On the same date, the Board of Directors appointed Mr. Chan Phang Chuen to fill the CTO position.

The filing describes Mr. Chan as "a technology expert focused on frontier intelligent systems and next-generation computing architectures," with experience in large-scale distributed intelligent systems and high-performance computing infrastructure. Prior to joining the Company, he served as Platform Architect at Cerebro Lab, where he was responsible for computing power resource pool design, multi-tenant quota management, and inference workload scheduling. Before that, he served as Senior Compute Engineer at Twistcode Technologies. Mr. Chan holds a Bachelor of Computer Science from the University of Malaya and a Master of Computer Science from the National University of Singapore.

Under the Employment Agreement, Mr. Chan is also eligible for equity awards under the Company's 2025 Equity Incentive Plan. The Company may terminate the agreement immediately for cause, or without cause upon 30 days' prior written notice or payment of 30 days of base salary in lieu of notice. If Mr. Chan intends to resign, the filing states he agrees to provide 60 days' advance written notice. The filing further discloses that Mr. Chan has no family relationship with any director or executive officer of the Company, and that no transactions involving Mr. Chan require disclosure under Item 404(a) of Regulation S-K.

What Was Disclosed

Next Technology Holding Inc. disclosed the resignation of its former CTO, Dr. Hongliang Liu, and the appointment and compensation terms of his successor, Mr. Chan Phang Chuen, both effective November 9, 2026, in a Form 8-K filed November 12, 2026.