Shenzhen Laibao announces technician departure, share commitments continue

Shenzhen Laibao Hi-tech Co., Ltd. has announced the departure of Shentu Jiangmin, a former core technical staff member, from Zhejiang Laibao Technology Co., Ltd., a controlled subsidiary. Shentu Jiangmin's employment contract was mutually terminated, and he resigned on November 7, 2025. He will not hold any further positions within the company or its controlled subsidiaries. The company states that this will not have a significant impact on its operations or development.

The announcement further clarified Shentu Jiangmin's commitment regarding his shareholdings. As stated in the company's initial public offering prospectus, he had pledged that during his tenure, he would not transfer more than 25% of his total company shares annually. This commitment was strictly adhered to prior to his departure.

Following his resignation, Shentu Jiangmin will continue to fulfill his commitment not to transfer any of his company shares for six months post-departure. This share lock-up commitment will remain in effect until its completion. The company previously consolidated his shares, along with those of three other individuals, under management as senior executive shares as of January 9, 2009, to streamline the share lock-up and unlock procedures, in accordance with public commitments made.