Independent Director's Annual Work Report for 2025
Dear shareholders and shareholder representatives of Tibet Gaozheng Mining Explosives Co., Ltd.:
As an independent director of Tibet Gaozheng Mining Explosives Co., Ltd. (hereinafter referred to as "the Company"), I have diligently fulfilled my responsibilities in accordance with the Company Law of the People's Republic of China, the Management Measures for Independent Directors of Listed Companies, the Articles of Association, and other relevant laws and regulations during the reporting period. I actively attended relevant meetings, carefully reviewed various proposals submitted to the board, and expressed opinions on significant matters, working diligently to maintain the overall interests of the Company and the legitimate rights and interests of all shareholders. Below is my report on the performance of my duties as an independent director during the 2025 term:
I. Basic Information of the Independent Director
(1) Personal Information
Cao Minzhong, with a bachelor's degree in industrial production automation, worked as a technician at the Chongqing 62nd Research Institute of the Ministry of Ordnance Industry from August 1983 to April 1986. Since May 1986, he has held various positions at the 213th Research Institute of China Ordnance Industry, including Deputy Director of the Third Research Office, Deputy Director of the Ninth Research Office, Director, and Chief Designer. Since January 2009, he has been a member of the Expert Committee on Civil Explosives of the Ministry of Industry and Information Technology. Since January 2018, he has served on the Expert Advisory Committee for Civil Explosives. Since January 2019, he has been a safety production expert at the National Defense Science and Technology Industry Bureau. He has been an independent director of the Company since July 8, 2021.
(2) Independence Statement
I possess the independence required by the Management Measures for Independent Directors of Listed Companies and do not have any circumstances that affect my independence.
II. Annual Performance of Independent Director Duties
(1) Attendance at Shareholder Meetings and Board Meetings
In 2025, the Company held 5 shareholder meetings and 10 board meetings. I strictly adhered to the relevant laws and regulations, diligently fulfilling my responsibilities. The specific attendance details are as follows:
| Independent Director Name | Board Meetings Attended | Shareholder Meetings Attended | Total Board Meetings During Term | On-site Attendance | Attendance by Communication | Attendance by Proxy | Absences | Total Shareholder Meetings During Term | Attendance at Shareholder Meetings |
|---|---|---|---|---|---|---|---|---|---|
| Cao Minzhong | 10 | 5 | 10 | 6 | 4 | 0 | 0 | 5 | 5 |
In 2025, I attended board meetings and shareholder meetings on time, carefully reviewing proposals. I voted in favor of all proposals submitted to the board and did not express any objections, reservations, or inability to comment.
(2) Attendance at Special Committee Meetings and Independent Director Meetings
- Strategic Committee During the reporting period, the Company held 2 Strategic Committee meetings. As a member of the Fourth Strategic Committee, I attended the regular meetings, diligently fulfilling my responsibilities. I reviewed topics such as the 2024 financial settlement report, the 2025 financial budget report, bank credit loans, purchasing financial products, and the acquisition of 100% equity of Heilongjiang Overseas Mining Explosives Co., Ltd. with related parties, and expressed my opinions, playing a role in the board's work.