Wantai Biological reforms governance, revamps board and shareholder rules

Beijing Wantai Biological Pharmacy Enterprise convened its board and supervisory board meetings on November 12, 2025, to approve major governance reforms. The company resolved to abolish its supervisory board, transferring its functions to the board's audit committee, and simultaneously amending its articles of association, related party transaction management system, board of directors meeting rules, shareholder meeting rules, independent director work system, cumulative voting implementation rules, raised funds management system, general manager work rules, and board secretary work system. These revisions streamline internal oversight, enhance investor protection, and align with current regulatory requirements.

The company also approved changes to its information disclosure management system, investor relations management system, and the management system for shares held and their changes by directors, supervisors, and senior management. A new non-independent director, Mr. Lv Yun, was nominated, and the second extraordinary general meeting for 2025 will be held to ratify these changes. These significant updates aim to improve corporate governance, ensure transparent information disclosure, and strengthen investor confidence.