Stock Code: 300898
Stock Abbreviation: Panda Dairy
Announcement No.: 2026-045
Panda Dairy Group Co., Ltd.
Announcement on the Reshuffle and Election of the Board of Directors
The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and that there are no false records, misleading statements, or major omissions.
The fourth Board of Directors of Panda Dairy Group Co., Ltd. (hereinafter referred to as "Panda Dairy" or the "Company") was originally scheduled to expire on October 24, 2026. In accordance with the "Shenzhen Stock Exchange GEM Stock Listing Rules," "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guidelines No. 2 - Standardized Operation of GEM Listed Companies," and other laws, regulations, normative documents, and the "Articles of Association," the Company has proactively conducted a reshuffle election in accordance with relevant procedures.
On August 13, 2026, the Company convened the 27th meeting of the fourth Board of Directors, which deliberated and approved the "Proposal on Reshuffle and Election of the Board of Directors and Nomination of Candidates for Non-Independent Directors of the Fifth Board of Directors" and the "Proposal on Reshuffle and Election of the Board of Directors and Nomination of Candidates for Independent Directors of the Fifth Board of Directors." The specific details are hereby announced as follows:
The fifth Board of Directors of the Company will consist of 9 directors, including 5 non-independent directors, 3 independent directors, and 1 employee representative director (the employee representative director will be elected by the Company's employee representative assembly). After review by the dedicated meeting of independent directors of the Board, the Board agreed to nominate Mr. LI DAVID XI AN, Mr. LI XUE XI, Mr. XU XIAOYU, Mr. ZHAN DONG SHENG, and Mr. LI XUE JUN as candidates for non-independent directors of the fifth Board of Directors. Mr. YOU YU RU, Mr. YE XING QIAN, and Mr. TANG SHAN YONG were nominated as candidates for independent directors of the fifth Board of Directors. Among them, independent director candidate Mr. TANG SHAN YONG is a professional accountant. The resumes of the above candidates are detailed in the appendix.
The dedicated meeting of independent directors of the Board has reviewed the eligibility of the above director candidates. The number of candidates for the fifth Board of Directors who concurrently hold senior management positions in the Company does not exceed one-half of the total number of directors of the Company, and the number of independent directors is not less than one-third of the total number of members of the Board, which meets the requirements of relevant laws and regulations. The eligibility and independence of the independent director candidates still need to be submitted to the Shenzhen Stock Exchange for filing and review. If there are no objections, they will be submitted to the Company's shareholders' meeting for deliberation. The aforementioned three independent director candidates have all obtained independent director qualification certificates recognized by the Shenzhen Stock Exchange.
The above director candidates still need to be submitted for deliberation at the fourth extraordinary general meeting of shareholders in 2026 and will be elected by cumulative voting. The term of office for the directors of the fifth Board of Directors will be three years from the date of approval by the fourth extraordinary general meeting of shareholders in 2026.
To ensure the normal operation of the Company's Board of Directors, before the new directors take office, the original directors will continue to faithfully and diligently perform their duties and responsibilities as directors in accordance with laws, regulations, normative documents, and the "Articles of Association."
Hereby announced.
Board of Directors
August 14, 2026