Director at Yihai International under investigation

Yihai International Holding Ltd. announced that independent non-executive director, Peng Long, is under investigation for suspected serious violations of discipline and law, according to the Central Commission for Discipline Inspection and the National Supervisory Commission of the People's Republic of China. The company stated that Peng, a former deputy director-general-level official of the Ministry of Education, is undergoing disciplinary review. Yihai International acknowledged that the board is currently assessing the situation and considering necessary arrangements. Peng also serves on the audit, nomination, and remuneration committees of the company but is not involved in daily operations. The company stated that its business operations remain normal and this matter is not expected to have a significant impact. Yihai International advised investors to exercise caution when trading in the company's shares.