Shanxi Blue Flame announces board reshuffle as independent directors resign

Shanxi Blue Flame Holding Co. Ltd. recently disclosed significant changes to its board of directors. Independent director Zhao Lixin submitted a resignation due to personal reasons, stepping down from his roles on the board and its audit, nomination, and remuneration committees. His departure will result in the independent director count falling below one-third of the board's total members and a lack of accounting professionals among independent directors. His resignation becomes effective upon the election of a new independent director.

Concurrently, the company announced the nomination of Li Ruiai as an independent director candidate. Li, born in November 1963, holds a master's degree, is a certified public accountant, and currently serves as a professor of accounting at Shanxi University of Finance and Economics and an independent director at Shanxi Huahua Group Co. Ltd. Additionally, director Feng Jianbin resigned from his positions on the board and its audit and strategic committees due to work changes.

These personnel adjustments are described as normal operational changes, not expected to adversely affect the company's daily management, production, operation, or debt-paying ability. China-Germany Securities Co. Ltd., as the bond trustee for "25 Blue Flame K1" and "25 Blue Flame K2," issued an interim entrusted management affairs report to inform investors and advise independent judgment on the matter.