To all shareholders and shareholder representatives:
BOE Varitronix Inc. Independent Director 2025 Annual Report (Shen Bo)
As an independent director of BOE Varitronix Inc. (hereinafter referred to as the "Company"), I have strictly complied with the "Company Law of the People's Republic of China" (hereinafter referred to as the "Company Law"), other laws and regulations, and the "Articles of Association of BOE Varitronix Inc." (hereinafter referred to as the "Articles of Association"), and the "Independent Director System" and other relevant regulations. I have diligently performed my duties of loyalty and diligence, fully utilized my role as an independent director, and protected the overall interests of the Company and the legitimate rights and interests of all shareholders. The work situation for 2025 is hereby reported as follows:
I. Basic Information of Independent Director
(I) Work Experience, Professional Background, and Concurrent Positions of Independent Director
I, Shen Bo, born in 1963, am a Chinese national with no permanent residency abroad and hold a Ph.D. I have served as a visiting professor at the Research Center for Advanced Science and Technology (RCAST) at the University of Tokyo, a visiting professor at the Center for Electronic and Photonic Materials, Chiba University, Japan, and a visiting professor at the National Institute of Advanced Industrial Science and Technology (AIST), Japan. I was the chief scientist of the National 973 Program, a member of the overall expert group for the National 863 Program "Semiconductor Lighting" key project, and the leader of the overall expert group for the National 863 Program "Third Generation Semiconductor" key project. I am currently the leader of the expert group for the third-generation semiconductor direction of the National Key R&D Program "Strategic Advanced Electronic Materials." I enjoy special government allowances from the State Council and serve as a member of the academic committees of several national key laboratories, provincial key laboratories, and national defense key laboratories in China.
I am currently an independent director of the sixth board of directors of the Company, deputy director of the School of Physics, Peking University, director of the Wide Bandgap Semiconductor Research Center, and a Changjiang Distinguished Professor at the School of Physics. I am a recipient of the National Science Fund for Distinguished Young Scholars and the leader of the Innovative Research Group of the National Natural Science Foundation of China.
(II) Statement of Independence
As an independent director of the Company, I do not hold any positions in the Company other than that of an independent director, nor do I hold any positions in the major shareholders of the Company. There are no relationships between me, the Company, and the major shareholders that would hinder my independent and objective judgment, and there are no circumstances that affect the independence of the independent director.
II. Overview of Performance in 2025
(I) Attendance at Board and Shareholder Meetings
During my term of office in 2025, the Company held 5 board meetings and 2 shareholder meetings. I actively participated in the board and shareholder meetings convened by the Company, carefully reviewed the materials for each agenda item, maintained full communication with the Company's management, exercised my voting rights with a prudent attitude, and protected the overall interests of the Company and the interests of small and medium shareholders. The board and shareholder meetings held by the Company in 2025 complied with legal procedures, and major operating decisions and other significant matters were handled in accordance with relevant procedures, which were legal and effective. My attendance at meetings is as follows:
Board Meeting Attendance
| Number of Meetings Attended | Actual Attendance | Proxy Attendance | Number of Absences | Consecutive Absences |
|---|---|---|---|---|
| 5 | 5 | 0 | 0 | No |