2025 Annual Report of Independent Director (Shen Yuping)
I, Shen Yuping, as an independent director of the ninth board of Zhejiang Xinhecheng Co., Ltd. (hereinafter referred to as the "Company"), in accordance with the "Administrative Measures for Independent Directors of Listed Companies," the "Articles of Association," and the "Independent Director System of the Company," hereby submit my annual performance report to the board of directors and the shareholders' meeting, explaining my performance of duties during my term of office. Please review.
I. Basic Information
Shen Yuping, male, born in 1957, Chinese national, with no permanent overseas residency, holds a Ph.D. in Economics. He has served as a professor and dean at Zhejiang University of Finance and Economics, and is currently a professor and master's supervisor at Zhejiang University of Finance and Economics, a renowned teacher in Zhejiang Province, a certified tax agent, and a talent in the "151 Talent Project." He also serves as an independent director for Hongxun Technology (603015) and Hangzhou Garden (300649). He became an independent director of the Company in September 2023.
I do not hold any positions at Xinhecheng other than independent director. I have no direct or indirect interest relationship with the Company or its controlling shareholder and actual controller, nor any other relationship that may affect my independent and objective judgment. I perform my duties independently and am not influenced by Xinhecheng, its controlling shareholder, actual controller, or any other entity or individual. During the reporting period, I conducted a self-assessment of my independence. My tenure complies with the independence requirements stipulated in Article 6 of the "Administrative Measures for Independent Directors of Listed Companies," and there are no circumstances affecting my independence.
II. Performance of Duties in 2025
In 2025, I fully utilized opportunities such as attending shareholders' meetings, board meetings, and special committee meetings to gain an in-depth understanding of the Company's internal control system and financial situation. I focused on understanding the Company's operating conditions, management, and the construction and implementation of its internal control system. Before board meetings, I proactively sought to understand and obtain the necessary information and materials for decision-making, familiarized myself with the Company's production and operation status, reviewed relevant documents, and promptly became aware of the progress of major matters concerning the Company. During meetings, I listened carefully to and deliberated on each agenda item, actively participated in discussions, and offered reasonable suggestions. I maintained close contact with other directors, senior management, and relevant personnel of the Company, and continuously monitored the impact of external environmental and market changes on the Company, providing timely advice on the Company's operations and management.
(I) Attendance at Meetings
- Attendance at Shareholders' Meetings
In 2025, the Company held 4 shareholders' meetings, and I attended all of them.
- Attendance at Board Meetings
| Board Meeting Type | Number of Meetings Held | Number of Personal Attendances | Number of Entrusted Attendances | Number of Absences | Whether Absent for Two Consecutive Meetings |
|---|---|---|---|---|---|
| Board Meetings | 7 | 7 | 0 | 0 | No |
I devoted sufficient time to fulfilling my duties. Before board meetings, I carefully reviewed the meeting materials and, when necessary, communicated with the Company's management in advance. I personally attended all board meetings held by the Company and voted in favor of all proposals, with no dissenting or abstaining votes. There were no instances of entrusting other independent directors to attend meetings on my behalf, nor did I raise any objections to any Company matters.
- Attendance at Board Special Committee Meetings