Following nomination by the Nomination Committee of the Company’s Board of Directors and completion of the requisite qualification review, the Company convened the seventh meeting of its seventh Board of Directors on November 12, 2025. At this meeting, the Board deliberated on and approved the “Proposal on Replacing the Company’s General Manager and Legal Representative.” The Board resolved to appoint Dr. Wenbao Gao as General Manager of the Company. The Board further resolved to appoint Mr. Song Wang as Deputy General Manager of the Company. Pursuant to the relevant provisions of the Company’s Articles of Association, the General Manager shall also serve as the Legal Representative of the Company. Accordingly, the Legal Representative of the Company shall henceforth be Dr. Gao. The Company will promptly undertake the necessary registration procedures to effect this change in accordance with applicable regulatory requirements. The Company and its Board of Directors hereby extend their sincere appreciation to Mr. Wang for his dedicated service and significant contributions to the Company’s growth and development during his tenure.
Dr. Gao brings over two decades of distinguished experience in the semiconductor industry, with deep expertise in large-scale manufacturing, supply chain management, and global operations. With his appointment, the Company anticipates a revitalized drive toward operational excellence, expanded engagement in emerging markets, and strengthened vertical integration throughout the value chain. Concurrently, in his capacity as Deputy General Manager, Mr. Wang will continue to lead initiatives in market expansion, prioritize the research and development of new products, and respond to evolving market demands through technological innovations. Leveraging the strategic vision and leadership of its management team, the Company will continue to fortify its position as a technological leader within the industry and accelerate the conversion of research and development into commercially viable solutions, providing a strong foundation for sustained market expansion.
The primary objective of this adjustment to the Company’s senior management team is to further strengthen its comprehensive capabilities in large-scale development and global operations, thereby establishing a more resilient organizational and talent foundation to support the achievement of its strategic goals. Through the infusion of industry-leading management expertise and its seamless alignment with the Company’s established core competencies—including product R&D, supply chain and customer assets, and brand equity—the Company is poised to more effectively orchestrate internal and external resources, elevate operational efficiency, and strengthen its ability to translate technological innovations into sustainable, market-driven competitive advantages. Under the leadership of the newly appointed management team, the Company is well-positioned to proactively capitalize on emerging opportunities and effectively navigate future challenges. Supported by improved financial performance and a sustained commitment to strong corporate governance, this transition will serve as a solid foundation for the Company’s pursuit of high-quality growth.
13 November 2025