Xinxing Ductile Iron Pipes names Wang Changhui as new general manager

Xinxing Ductile Iron Pipes Co., Ltd. announced its board of directors approved the appointment of Wang Changhui as the new general manager. This decision was made at a board meeting held on October 24, 2025, following a recommendation from the company's controlling shareholder, Xinxing Jihua Group Co., Ltd., and a review by the nominations committee. Wang's term will run until the expiration of the current board's term. The company confirmed Wang meets the necessary qualifications for a director and senior manager.

Concurrently, the board also nominated Wang Changhui as a candidate for non-independent director for the tenth board of directors. This proposal will be submitted to the company's second extraordinary general meeting in 2025 for consideration. The total number of directors who also hold senior management positions or are employee representatives will not exceed half of the total number of directors.

Guangda Securities Co., Ltd., acting as the entrusted manager for "21 Xinxing 01" bonds, stated this change in general manager is a normal operational matter and will not significantly impact the company's daily management, production, operation, or its ability to repay debt.