According to the Zhitong Finance App, Baixin International (00574) issued an announcement. Since there was no majority vote in favor of the resolutions contained in the notice of the annual shareholders' meeting relating to the re-election of Xiao Kai, Feng Junzheng, Zhang Tong, Chen Yunwei, and Cao Lei as directors, these resolutions were not passed at the annual shareholders' meeting. As a result, the following company position changes took effect from the end of the annual shareholders' meeting: (1) Xiao Kai retired as an executive director. Professor Xiao is also no longer the chairman of the board of directors and the authorized representative of the company (as far as section 3.05 of the listing rules is concerned); (2) Feng Junzheng retired as an executive director and no longer serves as the company's chief executive; (3) Zhang Tong retired as a non-executive director; and (4) Chen Yunwei retired as a non-executive director. Mr. Chen is also no longer a member of the Board's Nomination Committee; (5) Cao Lei retired as an independent non-executive director. Mr. Cho is also no longer the Chairman of the Board's Remuneration Committee, the Board Audit Committee, and a member of the Board's Corporate Governance Committee.

Since February 22, 2024 and after the end of the Annual General Meeting of Shareholders, Li Yan, an independent non-executive director, has been appointed as: (1) Chairman of the Remuneration Committee; and (2) Authorized Representative of the Company (for the purposes of section 3.05 of the Listing Rules).