Marubi Biotechnology to pursue H-share listing, approves board changes

Guangdong Marubi Biotechnology Co., Ltd. held its second extraordinary general meeting on November 28, 2025, where shareholders approved the company's plan for an initial public offering of H-shares and listing on the Hong Kong Stock Exchange. This approval encompassed decisions on the type and par value of shares, listing timeline, location, issuance, scale, pricing principles, target investors, offering, allocation, and underwriting. All related proposals for the H-share listing and associated capital utilization were passed.

In parallel with the H-share listing initiatives, the company approved a proposal to convert into an overseas-listed joint-stock company. Additionally, the meeting saw the approval of the cancellation of the supervisory board and amendments to the company's articles of association and governance structure. New corporate governance rules, including articles of association and rules of procedure for shareholder and board meetings, were also adopted to align with the H-share listing.

Further board changes were implemented, with the election of independent directors for the fifth board of directors and the definition of director roles. Guo Chaowan resigned as a non-independent director, effective November 28, 2025, due to "structural adjustments" in company governance. He was subsequently elected as an employee representative director for the fifth board of directors.