Tianjin TEDA Biomedical Engineering Company Limited announced that Mr. Qin Wenhua resigned as the Joint CEO due to his busy schedule and his other business engagements with effect from 26 March 2024. Before Mr. Qin resigned as the Joint CEO, he and Ms. Sun Li jointly served as the Joint CEO. After Mr. Qin resigned as the joint CEO, Ms. Sun became the CEO of the Company.

As Ms. Sun now serves as both the Chairman and the CEO, such practice deviates from code provision A.2.1 of the Code of Corporate Governance. The Board is of the opinion that it is appropriate and in the best interests of the Company for Ms. Sun to hold both positions as it helps to maintain the continuity of the policies and the stability of the operations of the Company.