Livzon Pharmaceutical makes board changes, approves key resolutions

Livzon Pharmaceutical Group Inc. held its 2025 First Extraordinary General Meeting (EGM) on December 10, 2025, where shareholders approved several key resolutions. Wang Zhiyao was elected as an independent non-executive director (INED) to the eleventh session of the board, ensuring independent directors comprise no less than one-third of the board. Concurrently, Ran Yongmei was elected as an employee representative director through the Employee Representatives Meeting, with her tenure commencing from the meeting date. Ran, with a pharmacy degree and extensive pharmaceutical experience, will receive an annual director's remuneration of RMB 96,000. These changes led to an adjustment in the composition of the board’s committees, including the Audit, Remuneration and Assessment, Nomination, Environmental, Social and Governance, and Strategy Committees.

The EGM also saw the approval of several special and ordinary resolutions. Special resolutions passed included the cancellation of the Supervisory Committee, amendments to the Articles of Association, and changes to the Rules and Procedures for General Meetings and Board Meetings. Ordinary resolutions approved involved amendments to the Administrative Measures for the Use of Raised Funds. All resolutions were duly passed by poll, with varying percentages of votes for, against, and abstentions from shareholders holding A shares and H shares.

Legal opinions issued by D&S Law Firm confirmed that the EGM’s convening and procedures complied with relevant laws, regulations, and the Company’s Articles of Association, affirming the legality and effectiveness of the voting results. The total number of issued shares carrying voting rights at the EGM was 452,183,054 shares, representing 50.93% of the Company's total shares.