Xuerong Bio-Tech announces controlling shareholder shift, board reshuffle

Shanghai Xuerong Bio-Technology disclosed that its controlling shareholder, Yang Yongping, transferred a portion of his shares and delegated voting rights to Shanghai Wanzichianhong Intelligent Technology Co., Ltd. This transaction, completed on November 3, 2025, resulted in Wanzichianhong controlling 19.71% of the total voting rights. Consequently, Wanzichianhong became the new controlling shareholder, and Jiang Zhi became the actual controller.

In addition to the change in control, Xuerong Bio-Technology announced an early board reshuffle. The fifth board of directors convened on November 5, 2025, to approve the nomination of candidates for the sixth board. Yang Yongping and Lu Yong will no longer serve as non-independent directors, while Huang Jianchun, Li Danmeng, and Li Yao will step down as independent directors. The new board will comprise seven directors, including four non-independent and three independent directors.

The company's articles of association were also revised to reflect the increased registered capital from RMB 59,767.4635m to RMB 64,084.7016m, due to share conversions from "Xuerong Convertible Bonds" which matured on November 4, 2025. These changes, along with the new board appointments, are subject to approval at the fourth extraordinary general meeting of shareholders on November 21, 2025.