Livzon Pharmaceutical independent directors to resign due to term limits

Livzon Pharmaceutical Group Inc. has announced the upcoming resignations of independent non-executive directors Mr. Tian Qiusheng and Mr. Wong Kam Wa, effective October 15, 2025. Both directors, appointed on October 15, 2019, will have completed six consecutive years of service, reaching the maximum term permitted by the Measures for the Administration of Independent Directors of Listed Companies and the Company's Articles of Association.

Mr. Tian Qiusheng will resign from his roles on the audit committee, as chairman of the remuneration and assessment committee, and as a member of the nomination and environmental, social and governance committees. Mr. Wong Kam Wa will resign from the environmental, social and governance committee. These departures will reduce the number of members on the audit committee and remuneration and assessment committee to below the minimum requirements of the Hong Kong Listing Rules (Rule 3.21 and 3.25, respectively) and the environmental, social and governance committee below five. Additionally, Mr. Wong’s departure means the board will no longer satisfy Rule 19A.18(1), which requires at least one independent non-executive director to be ordinarily resident in Hong Kong for PRC issuers.

To ensure continuity, Mr. Tian and Mr. Wong will continue to serve their respective duties until new independent non-executive directors are elected at a general meeting of shareholders. The company will initiate the election process promptly to comply with regulatory and statutory procedures. Both directors have confirmed no disagreement with the board or the company regarding their resignations.