Stock Code: 002406 Stock Abbreviation: Far East Transmission Announcement No.: 2026-012
Announcement on the Election of the Board of Directors and Proposed Changes to Directors
The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or significant omissions.
The term of the 6th Board of Directors of Xuchang Far East Transmission Shaft Co., Ltd. (hereinafter referred to as the "Company") is about to expire. In accordance with the "Company Law," "Articles of Association," "Rules of Procedure for Board Meetings," and other relevant laws, regulations, and normative documents, the Company held the 18th meeting of the 6th Board of Directors on March 26, 2026. The meeting deliberated and passed the "Proposal on the Election of Non-Independent Directors for the 7th Board of Directors" and the "Proposal on the Election of Independent Directors for the 7th Board of Directors," and submitted them for consideration at the Company's 2025 Annual General Meeting.
To ensure the smooth completion of the board election, upon review by the Nomination Committee, the Board of Directors proposes Liu Shuo, Liu Yaxue, Zhou Jianxi, Hu Dianpeng, and Zhou Huizheng as candidates for non-independent directors of the 7th Board of Directors. Ming Cuixin, Zhou Xiaodong, and Chen Hongyan are proposed as candidates for independent directors (resumes of director candidates are detailed in the appendix). These eight individuals, along with one employee representative director elected by the employee representative meeting, will form the 7th Board of Directors, with a term of three years commencing from the date of the resolution passed by the relevant shareholders' meeting. This proposal will be submitted to the Company's 2025 Annual General Meeting for consideration and will be elected using the cumulative voting method.
The number of director candidates for the 7th Board of Directors complies with the relevant provisions of the "Company Law" and the "Articles of Association." The proportion of independent director candidates is not less than one-third of the board members, and there are no instances of independent directors serving for more than six consecutive years. The number of candidates for the 7th Board of Directors who concurrently hold senior management positions in the Company and serve as employee representatives does not exceed one-half of the total number of directors.
Ming Cuixin, Zhou Xiaodong, and Chen Hongyan are candidates for independent directors of the 7th Board of Directors. Zhou Xiaodong and Chen Hongyan have obtained independent director qualification certificates recognized by the Shenzhen Stock Exchange. Zhou Xiaodong is an accounting professional. Ming Cuixin has not yet obtained an independent director qualification certificate but has pledged to participate in the next independent director training and obtain a qualification certificate recognized by the Shenzhen Stock Exchange. The eligibility and independence of the independent director candidates must be reviewed and approved by the Shenzhen Stock Exchange before being submitted to the shareholders' meeting for consideration.
To ensure the normal operation of the Board of Directors, before the new board takes office, the former directors will continue to diligently perform their duties in accordance with laws, administrative regulations, departmental rules, normative documents, and the "Articles of Association." The Company expresses its sincere gratitude to all directors of the 6th Board of Directors for their contributions to the Company and the Board during their tenure!
Hereby announced.
Xuchang Far East Transmission Shaft Co., Ltd. Board of Directors March 28, 2026
Appendix:
I. Resumes of Non-Independent Director Candidates
- Mr. Liu Shuo: Male, born in 1993, Chinese national, Master's degree, no permanent overseas residency. He previously served as Assistant General Manager of the Company. Since July 2020, he has served as Deputy General Manager and Secretary of the Board of Directors of the Company.