Yunnan Baiyao shareholders approve governance changes, elect new board

Yunnan Baiyao Group’s second extraordinary general meeting of shareholders in 2025 approved several key corporate governance changes, including the abolition of the supervisory board and revisions to the company articles of association, shareholder meeting rules, and board of directors meeting rules. All five proposals passed with the required majority votes.

Following these approvals, the eleventh board of directors was elected, comprising seven non-independent directors (Zhang Xuewen, Dong Ming, Guo Xin, You Guanghui, Xie Yunshan, Shangguan Changchuan, Li Ke) and four independent directors (Liu Guoen, Na Chaohong, Hu Mingxing, Cao Yangfeng). Yang Fan was elected as the employee representative director. The board subsequently elected Zhang Xuewen as chairman and Dong Ming as vice chairman.

Additionally, the meeting established the eleventh board of directors’ specialized committees, appointing members and chairpersons. The strategic committee will be chaired by Zhang Xuewen, the audit committee by Na Chaohong, the nomination committee by Liu Guoen, and the remuneration and assessment committee by Cao Yangfeng. All elected individuals will serve a three-year term.