Shanghai Xuerong founder appointed honorary chairman, new board elected

Shanghai Xuerong Bio-Technology (SZSE:300511) has appointed its founder, Mr. Yang Yongping, as lifelong honorary chairman, recognizing his substantial contributions. Mr. Yang will receive a monthly pre-tax salary of RMB 5.34 million and coverage for expenses related to company meetings and social activities until the 2025 annual shareholders' meeting. The company also disclosed that Mr. Yang, holding 14.79% of shares, provided interest-free loans totaling RMB 49 million to the company in 2025. This decision was made at the Sixth Board of Directors' First Meeting on November 21, 2025, and approved by all seven directors.

In related developments, the company secured a working capital loan of up to RMB 25 million from the Agricultural Development Bank of China, with its wholly-owned subsidiary Chengdu Xuerong providing collateral and controlling subsidiaries Dafang Xuerong and Weining Xuerong providing joint liability guarantees. The board also elected its Sixth Board of Directors, comprising seven members, with Mr. Jiang Zhi appointed as chairman and legal representative.

Furthermore, the company appointed Mr. Long Peng as general manager, along with Mr. Zheng Weidong (executive deputy general manager), Mr. Wei Shanzhu, and Mr. Lu Yong as deputy general managers. Mr. Gu Yongkang was appointed board secretary, and Ms. Mao Lihua as securities affairs representative.