Chuyi Zhangyuan Tungsten Industry Co., Ltd.
2025 Annual Report of Independent Director
— Wang Ping
To the Esteemed Shareholders and Shareholder Representatives:
As an independent director of Chuyi Zhangyuan Tungsten Industry Co., Ltd. (hereinafter referred to as the "Company") during my term in 2025, I have strictly followed the provisions of 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," the business rules of the Shenzhen Stock Exchange, and the Company's "Articles of Association" and "Work System for Independent Directors." I have diligently exercised my rights, safeguarded the Company's standardized operations and the interests of shareholders, fulfilled my obligations and responsibilities as an independent director, and played the role of an independent director. This report outlines my performance of independent director duties in 2025:
I. Basic Information of Independent Director
(I) Work Experience, Professional Background, and Concurrent Positions of Independent Director
I, Wang Ping, born in 1970, hold a Master's degree in Engineering and an Executive Master of Business Administration (EMBA). I am a Certified Public Accountant in China. I have previously served as Financial Controller of China Jishan Holdings Co., Ltd., Director and Vice President of EV Capital Pte Ltd., and Senior Vice President, Financial Controller, and Director of China First Capital Group Limited (formerly known as "Everbright (China) Vehicle Parts Holdings Limited"). I am currently an independent director of Rare Earth Gold International Company Limited (03788.HK), an independent director of Jiahui Holdings Company Limited (01626.HK), and a non-executive director of Rise Energy Group Limited (02459.HK).
(II) Independence Statement
During my tenure, I have not held any positions in the Company other than independent director and member and convener of the Board of Directors' special committees. I have also not held any positions in the main shareholders' companies. I have no conflict of interest with the Company or its major shareholders, nor any other relationship that may hinder my independent and objective judgment. This complies with the requirements regarding the qualifications and independence of independent directors stipulated in the "Administrative Measures for Independent Directors of Listed Companies," the "Shenzhen Stock Exchange Main Board Listed Company Self-Regulation Supervision Guidelines No. 1 — Standardized Operation of Main Board Listed Companies," and other relevant laws and regulations. There are no circumstances that affect my independence.
II. Overview of Independent Director's Performance in the Reporting Period
(I) Attendance at Board Meetings and Shareholder Meetings
During the reporting period, I diligently attended all board meetings and shareholder meetings of the Company. I faithfully performed my duties, ensuring that the convening and holding of board and shareholder meetings complied with legal procedures. Major operational decisions were made through the proper legal channels. In 2025, the Company held 8 board meetings and 4 shareholder meetings. My attendance record for these meetings is as follows:
| Independent Director Name | Number of Board Meetings Attended (Report Period) | Number of Board Meetings Attended | Number of Meetings Attended by Proxy | Number of Absent Meetings | Whether Attended Shareholder Meetings in Person | Number of Shareholder Meetings Attended in Person |
|---|---|---|---|---|---|---|
| Wang Ping | 8 | 8 | 0 | 0 | No | 4 |