OFA Group Appoints Yan Xu as Independent Director

What Happened OFA Group (OFAL) filed a Form 8-K (Item 5.02) reporting that on August 7, 2026 the Board appointed Yan Xu as an independent director, effective immediately. Mr. Xu will serve an initial one-year term (subject to renewal) and was named to the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee.

Key Details

• Effective date: August 7, 2026.
• Initial term: one (1) year, renewable by mutual agreement.
• Committee assignments: Audit Committee, Compensation Committee, Nominating and Corporate Governance Committee.
• Background: Yan Xu, age 39, founder of Vega Ventures (crypto-focused investment firm since 2017); prior independent investment specialist in internet sector (2012–2017); holds a B.S. in law and financial management from Tianjin University of Science and Technology.
• Independence and disclosures: Board determined Mr. Xu qualifies as independent; no arrangements or understandings related to the appointment, no family relationships with Company directors or officers, and no reportable related-party transactions under Item 404(a) of Regulation S-K.

Why It Matters Board appointments affect corporate governance and oversight. Mr. Xu’s experience in digital assets and investment research, plus his roles on key committees (especially the Audit Committee), may influence OFA Group’s oversight of financial reporting, executive pay, and governance practices. The filing provides no compensation or conflict details beyond the Board’s independence determination.