Xinxiang Chemical Fiber Co., Ltd. (hereinafter referred to as "the Company") and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, without any false records, misleading statements, or significant omissions.
The term of the 11th Board of Directors of Xinxiang Chemical Fiber Co., Ltd. is about to expire. According to the Company Law, the Shenzhen Stock Exchange Listing Rules, the Self-Regulatory Guidelines for Listed Companies No. 1 - Standardized Operations for Main Board Listed Companies, and other relevant laws, regulations, and the Company's Articles of Association, the Company will conduct the election of the Board of Directors in accordance with the relevant legal procedures. The relevant situation is announced as follows:
1. Election of the Board of Directors
The Company held the 27th meeting of the 11th Board of Directors on April 7, 2026, where it reviewed and approved the proposals for the election of non-independent directors and independent directors of the Board. These proposals have been reviewed and approved by the Board's Nomination Committee. The 12th Board of Directors will consist of 9 directors, including 5 non-independent directors, 3 independent directors, and 1 employee representative director.
Based on shareholder nominations and recommendations from the Company's Board Nomination Committee, the Board has agreed to nominate Mr. Shao Changjin, Mr. Zhang Jiaqi, Mr. Wang Zhongjun, Mr. Zhu Shengtai, and Mr. Chen Chen as candidates for non-independent directors of the 12th Board; and Mr. Chu Jinqiao, Ms. Zhao Jing, and Ms. Liu Wanli as candidates for independent directors. Among them, Ms. Liu Wanli is a professional accountant. Detailed resumes of the above director candidates are attached.
2. Review of Director Candidates' Qualifications
The Nomination Committee of the 11th Board has reviewed the qualifications of the above director candidates and believes that they meet the qualifications and conditions for directors as stipulated in the Company Law, the Shenzhen Stock Exchange Listing Rules, the Self-Regulatory Guidelines for Listed Companies No. 1, and the Company's Articles of Association. Among the candidates for the 12th Board, the number of directors who are also senior management personnel and those serving as employee representatives does not exceed half of the total number of directors. The proportion of independent director candidates is not less than one-third of the total number of Board members, and there are no circumstances where independent directors have served for more than six years. Additionally, independent directors serving concurrently on domestic listed companies do not exceed three, in compliance with relevant laws and regulations. Independent director candidates Mr. Chu Jinqiao, Ms. Zhao Jing, and Ms. Liu Wanli have obtained independent director qualification certificates. According to relevant regulations, the qualifications and independence of the above independent director candidates must be reviewed and approved by the Shenzhen Stock Exchange before being submitted to the shareholders' meeting for consideration along with other non-independent director candidates. The election of both non-independent and independent directors of the 12th Board will adopt a cumulative voting system, with a term of three years starting from the date of election by the shareholders' meeting.
3. Election of Employee Directors
On April 7, 2026, the Company held the first joint meeting of the representatives of the employee congress, electing Mr. Tong Xin as the employee director of the 12th Board of Directors. He will join the other 5 non-independent directors and 3 independent directors elected by the shareholders' meeting to form the 12th Board, with a term until the expiration of the 12th Board. After Mr. Tong Xin is elected as the employee director, the total number of directors who are also senior management personnel and those serving as employee representatives does not exceed half of the total number of directors.