Chongyi Zhangyuan Tungsten Industry Co., Ltd. 2025 Annual Report of Independent Director — Wu Qirui
To all shareholders and shareholder representatives:
As an independent director of Chongyi Zhangyuan Tungsten Industry Co., Ltd. (hereinafter referred to as "Zhangyuan Tungsten" or "the Company") during my term in 2025, I have strictly followed the "Company Law of the People's Republic of China," the "Securities Law of the People's Republic of China," the "Administrative Measures for Independent Directors of Listed Companies" (hereinafter referred to as the "Measures"), and other laws and regulations, as well as the rules of the Shenzhen Stock Exchange and the Company's Articles of Association and other internal company systems. I have diligently performed the duties and responsibilities of an independent director, playing a role in decision-making, supervision and checks and balances, and professional consultation, thereby safeguarding the overall interests of the listed company and protecting the legitimate rights and interests of minority shareholders. My performance as an independent director in 2025 is as follows:
I. Basic Information of Independent Director
(I) Work Experience, Professional Background, and Concurrent Positions of Independent Director
I am Wu Qirui, a graduate of the Department of Statistics and Finance at the University of Science and Technology of China, with a doctoral degree and senior economist title. I am also a practical supervisor for the MBA program at Jinan University. I previously served as Deputy Director of the Listed Company Division of the Shenzhen Regulatory Bureau of the China Securities Regulatory Commission and Secretary-General of the Shenzhen Futures Association. I am currently an independent director of Shenzhen Cooee Home Co., Ltd. and an independent director of Xindao Electronics Co., Ltd.
At the Second Extraordinary General Meeting of Shareholders in 2024, held on March 22, 2024, I was elected as an independent director of the Sixth Board of Directors. Zhangyuan Tungsten's Board of Directors has established four special committees: the Audit Committee, the Nomination Committee, the Remuneration and Appraisal Committee, and the Strategy Committee. I serve as a member of the Nomination Committee and the Remuneration and Appraisal Committee.
(II) Statement of Independence
During my tenure, I have not held any positions in the Company other than independent director and member of the Board's special committees. I have also not held any positions in the principal shareholders' companies. I have no relationship with the Company or its principal shareholders that could hinder my independent and objective judgment, in compliance with the requirements of the "Measures," the "Shenzhen Stock Exchange Main Board Listed Company Self-Regulatory Management Guide No. 1 – Norms for the Operation of Main Board Listed Companies," and other laws, regulations, and self-regulatory rules regarding the qualifications and independence of independent directors. There are no circumstances that affect my independence.
II. Annual Performance of Independent Director Duties
(I) Attendance at Board Meetings and Shareholders' Meetings
In 2025, the Company held a total of 8 board meetings and 4 shareholders' meetings. My attendance is as follows:
| Independent Director Name | Number of Board Meetings Attended During Reporting Period | Number of Board Meetings Attended | Number of Entrusted Attendance | Number of Absences | Whether Absent for Two Consecutive Board Meetings | Number of Shareholders' Meetings Attended |
|---|---|---|---|---|---|---|
| Wu Qirui | 8 | 8 | 0 | 0 | No | 4 |