Stock Code: 301120
Stock Abbreviation: Xinhuadu Special Electric
Announcement No.: 2026-042
Announcement on the Election of Directors for the New Board of Directors
The Company and all members of the Board of Directors guarantee the content of the information disclosure is true, accurate, and complete, and that there are no false records, misleading statements, or major omissions.
The term of the fifth Board of Directors of Xinhuadu Special Electric Co., Ltd. (hereinafter referred to as the "Company" or "Xinhuadu Special Electric") is about to expire. In accordance with the "Company Law," the "Shenzhen Stock Exchange GEM Stock Listing Rules," the "Shenzhen Stock Exchange Self-Regulatory Guidelines No. 2 - Standardized Operation of GEM Listed Companies," and other laws, regulations, normative documents, and the "Articles of Association," the Company is conducting a board election in accordance with legal procedures.
On July 17, 2026, the Company held the 20th meeting of the fifth Board of Directors, which reviewed and approved the "Proposal on the Election of the New Board of Directors and Nomination of Candidates for Non-Independent Directors of the Sixth Board of Directors" and the "Proposal on the Election of the New Board of Directors and Nomination of Candidates for Independent Directors of the Sixth Board of Directors." The Company's Board of Directors is composed of 8 directors, including 5 non-independent directors and 3 independent directors. After review and approval by the Company's Nomination Committee, the Board of Directors nominated Mr. Tan Yong, Ms. Zhao Yunyun, Mr. Zong Baofeng, Mr. Chen Peizhi, and Mr. Zhu Yanchen as candidates for non-independent directors of the sixth Board of Directors, and nominated Mr. Shu Dong, Mr. Zhao Hechun, and Mr. Jin Tao as candidates for independent directors. Mr. Zhao Hechun is an accounting professional. The resumes of the above candidates are detailed in the appendix.
The Company's Nomination Committee has reviewed the qualifications of the above candidates and believes that they meet the director qualification requirements stipulated by laws and regulations such as the "Company Law," the "Shenzhen Stock Exchange GEM Stock Listing Rules," and the "Shenzhen Stock Exchange Self-Regulatory Guidelines No. 2 - Standardized Operation of GEM Listed Companies," as well as the "Articles of Association." The number of independent directors is not less than one-third of the total number of board members, which meets the requirements of relevant regulations.
Independent director candidates Mr. Shu Dong and Mr. Zhao Hechun have obtained independent director qualification certificates recognized by the Shenzhen Stock Exchange. Mr. Jin Tao has not yet obtained the independent director qualification certificate from the listed company, but has pledged to participate in the next independent director training and obtain the independent director qualification certificate recognized by the Shenzhen Stock Exchange.
In accordance with the "Company Law," the "Articles of Association," and other regulations, the nominated candidates still need to be submitted to the Company's second extraordinary general meeting in 2026 for review and voting item by item using the cumulative voting system. The qualifications and independence of the independent director candidates need to be filed and reviewed by the Shenzhen Stock Exchange without objection before the shareholders' meeting can proceed with the vote. The term of the sixth Board of Directors is three years, commencing from the date of approval by the second extraordinary general meeting in 2026.
To ensure the normal operation of the Company's Board of Directors, before the election of the new Board of Directors by the shareholders' meeting, the directors of the fifth Board of Directors will continue to faithfully and diligently perform their duties and responsibilities in accordance with laws, administrative regulations, normative documents, and the "Articles of Association."