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    1666   CNE100000585

TONG REN TANG TECHNOLOGIES CO. LTD.

(1666)
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Tong Ren Tang Technologies : ANNOUNCEMENT PROPOSED RE-ELECTION AND APPOINTMENT OF DIRECTORS AND SUPERVISORS

04/21/2021 | 09:10am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock code: 1666)

ANNOUNCEMENT

PROPOSED RE-ELECTION AND APPOINTMENT OF

DIRECTORS AND SUPERVISORS

The Board hereby announces that as the term of office of the Seventh Session of the Board will expire at the conclusion of the AGM, the Board resolved at a meeting held on 21 April 2021 to propose to re-elect Mr. Gu Hai Ou, Mr. Wang Yu Wei and Ms. Fang Jia Zhi as executive directors of the Eighth Session of the Board, to appoint Mr. Jin Tao, Mr. Ma Guan Yu and Ms. Wu Qian as non-executive directors of the Eighth Session of the Board, and to re-elect Mr. Ting Leung Huel, Stephen, Ms. Chan Ching Har, Eliza and Mr. Zhan Yuan Jing as independent non-executive directors of the Eighth Session of the Board.

The Board further announces that as the term of office of the Seventh Session of the Supervisory Committee will also expire at the conclusion of the AGM, the Supervisory Committee resolved at a meeting held on 21 April 2021 to propose to re-elect Ms. Su Li and Mr. Wu Yi Gang as shareholder representative supervisors of the Eighth Session of the Supervisory Committee.

In accordance with the Articles of Association, the above mentioned proposed re-election and appointment of directors of the Eighth Session of the Board and shareholder representative supervisors of the Eighth Session of the Supervisory Committee are subject to the approval by the Shareholders at the AGM.

In addition, Mr. Li Yuan Hong was re-elected democratically as an employee representative supervisor of the Eighth Session of the Supervisory Committee at the employee representative's leaders' joint meeting of the Company held on 20 April 2021. The above appointment of Mr. Li Yuan Hong is not subject to approval by the Shareholders and shall come into effect from the convening date of the AGM.

Relevant proposals will be put forward at the AGM for Shareholders' consideration and approval. A circular of the Company containing detailed information in relation to the above-mentioned proposals will be dispatched to the Shareholders in due course.

1

I. PROPOSED RE-ELECTION OF DIRECTORS

The board of directors (the "Board") of Tong Ren Tang Technologies Co. Ltd. (the "Company", together with its subsidiaries, collectively the "Group") hereby announces that as the term of office of the Seventh Session of the Board will expire at the conclusion of the 2020 annual general meeting of the Company (the "AGM"), the Board resolved at the meeting held on 21 April 2021 to propose to re-elect Mr. Gu Hai Ou, Mr. Wang Yu Wei and Ms. Fang Jia Zhi as executive directors of the Eighth Session of the Board, to appoint Mr. Jin Tao, Mr. Ma Guan Yu and Ms. Wu Qian as non-executive directors of the Eighth Session of the Board, and to re-elect Mr. Ting Leung Huel ("Mr. Ting"), Stephen, Ms. Chan Ching Har, Eliza and Mr. Zhan Yuan Jing as independent non-executive directors of the Eighth Session of the Board.

The biographical details of the director candidates of the Eighth Session of the Board proposed to be appointed at the AGM are set out as follows:

Mr. Jin Tao, aged 52, holds a postgraduate degree. Mr. Jin successively served as the deputy director of the Administrative Office of the General Office of the People's Government of Beijing Municipality, the chief of the Confidentiality Department and the chief of the Conference Department. Mr. Jin currently serves as the general manager assistant of China Beijing Tong Ren Tang Group Co., Ltd. and an executive director of the Seventh Session of the Board of the Company.

Mr. Ma Guan Yu, aged 39, holds a postgraduate degree and is a second-level legal adviser to state-owned enterprises. Mr. Ma successively served as chairman assistant of Beijing Bohuai Real Estate Development Co., Ltd. and Beijing Boyu Construction Engineering Co., Ltd., corporate legal consultant of Beijing Uni.- Construction Group Co., Ltd., general manager assistant and general counsel of Beijing Uni.-Construction Sixth Development Construction Co., Ltd., general counsel of Beijing Uni.-Construction Landmark Co., Ltd. and Beijing Uni.-Construction Real Estate Co., Ltd. Mr. Ma currently serves as the deputy director (department head) of the Legal Affairs Department (Brand Risk Control Department) of China Beijing Tong Ren Tang Group Co., Ltd. and an executive director of the Seventh Session of the Board of the Company.

Ms. Wu Qian, aged 47, is a pharmacist-in-charge and licensed pharmacist with a bachelor's degree. Ms. Wu formerly served as a deputy office director of Beijing Tong Ren Tang Medicinal Materials Co., Ltd., a deputy director of the general office of the Party Committee and a deputy head of the publicity department, a deputy director of the office of labour union of China Beijing Tong Ren Tang Group Co., Ltd., the office director, deputy secretary of the general Party Branch at the head office, the secretary of the general Party Branch at the head office of Tong Ren Tang Ltd., the director of the general office of China Beijing Tong Ren Tang Group Co., Ltd. Ms. Wu currently serves as the Dean of Beijing Tong Ren Tang Institute of Education, the Party Branch secretary and the Party Committee secretary of China Beijing Tong Ren Tang (Group) Company of the Communist Party of China and an executive director of the Seventh Session of the Board of the Company.

Save as disclosed above and as at the date of this announcement, none of the above director candidates for the Eighth Session of the Board has any relationship with any director, supervisor, senior management or substantial or controlling shareholder of the Company, or has any interest in the shares of the Company within the meaning of the SFO.

Save as disclosed above and as at the date of this announcement, none of the above director candidates for the Eighth Session of the Board holds any other positions in the Company or any of its subsidiaries, or any directorships in other listed companies in the last three years.

2

Save as disclosed above and as at the date of this announcement, the Company was not aware of any other matters that need to be brought to the attention of the shareholders ("Shareholders") of the Company or any information needed to be disclosed in relation to the proposed re-election of the directors for the Eighth Session of the Board under Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Hong Kong Listing Rules").

Mr. Ting has served as an independent non-executive director of the Company for more than nine years and is currently director of seven listing companies. However, Mr. Ting has confirmed and the Board also considers that Mr. Ting is still an independent person and has enough time to engage in the Company. Mr. Ting has rich experience and a thorough understanding of the operation, finance and business of the Company, and has proposed objective opinions and independent guidance to the Board. Since his appointment as an independent non-executive director of the Company, Mr. Ting has been in conform with the independent requirements as set out in Rule 3.13 of the Hong Kong Listing Rules; and Mr. Ting does not have any interest or transaction in the business of the Company or any of its subsidiaries or holding company. Saved as serving as an independent non-executive director of the Company, Mr. Ting has not taken any other position in the Company, or any of its subsidiaries or holding company. Mr. Ting fully understands the responsibility of an independent non-executive director and expected time to devote based on his professional background and director experience in other listed companies. The Board is of the view that Mr. Ting can devote enough time to the Board despite of his directorate in other companies. The Board believes that Mr. Ting to continue to serve as an independent non-executive director of the Company will enable the Board to share his professional skills in finance and valuable experience in corporate governance and other aspects, and listen to his sound suggestions and independent judgment targeting the facts of the Group. Therefore, the Board recommends the Shareholders to re-elect Mr. Ting as an independent non- executive director of the Eighth Session of the Board.

The Board also proposed the remuneration of each of the candidates for the directors of the Eighth Session of the Board: the remuneration of each of Mr. Gu Hai Ou, Mr. Wang Yu Wei and Ms. Fang Jia Zhi as an executive director of the Eighth Session of the Board is zero , in which the executive director Mr. Wang Yu Wei and executive director Ms. Fang Jia Zhi will also receive their respective remuneration at their respective management position in the Company; the remuneration of each of Mr. Jin Tao, Mr. Ma Guan Yu and Ms. Wu Qian as a non-executive directors of the Eighth Session of the Board is zero, and the remuneration of each of Mr. Ting, Ms. Chan Ching Har, Eliza and Mr. Zhan Yuan Jing as an independent non-executive director of the Eighth Session of the Board is HKD240,000 (tax inclusive), HKD240,000 (tax inclusive) and RMB100,000 (tax inclusive) each year, respectively.

In accordance with the articles of association of the Company (the "Articles of Association"), the above- proposed re-election and appointment of directors and their respective remuneration are subject to the approval by the Shareholders at the general meeting of the Company. Relevant proposals will be put forward at the AGM for Shareholders' consideration and approval by way of ordinary resolutions.

Upon the above proposed re-elections and appointment of directors of the Eighth Session of the Board and their respective remuneration being approved by the Shareholders at the AGM, the Company will enter into a service contract with each of them. The term of office of each of them as a director of the Eighth Session of the Board is for a period commencing from the date the AGM to the date of the annual general meeting to be convened in 2024.

3

II. PROPOSED RE-ELECTION OF SUPERVISORS

The Board further announces that as the term of office of the Seventh Session of the supervisory committee of the Company (the "Supervisory Committee") will also expire at the conclusion of AGM, the Supervisory Committee resolved at a meeting held on 21 April 2021 to propose to re-elect Ms. Su Li and Mr. Wu Yi Gang as shareholder representative supervisors of the Eighth Session of the Supervisory Committee.

Mr. Li Yuan Hong was re-elected democratically as an employee representative supervisor of the Eighth Session of the Supervisory Committee at the employee representative's leaders' joint meeting of the Company held on 20 April 2021. The above appointment of Mr. Li Yuan Hong is not subject to approval by the Shareholders and shall come into effect from the convening date of the AGM.

Meanwhile, the remuneration of proposed to re-election Ms. Su Li and Mr. Li Yuan Hong is zero respectively for her and his position of the Eighth Session of the Supervisory Committee, in which the Mr. Li Yuan Hong will earn his remuneration from his management position in the Company. Mr. Wu Yi Gang, the proposed re-election supervisor of the Supervisory Committee, his remuneration is RMB 100,000 (tax inclusive) each year.

In accordance with the Articles of Association, the above proposed re-election of shareholder representative supervisors and their respective remuneration are subject to the approval by the Shareholders at the general meeting of the Company. Relevant proposals will be put forward at the AGM for Shareholders' consideration and approval by way of ordinary resolutions.

Upon the above proposed re-election of shareholder representative supervisors of the Eighth Session of the Supervisory Committee and their respective remuneration being approved by the Shareholders at the AGM, the Company will enter into a service contract with Ms. Su Li and Mr. Wu Yi Gang and Mr. Li Yuan Hong. The term of office of each of them as a supervisor of the Eighth Session of the Supervisory Committee is for a period commencing from the date of the AGM to the date of the annual general meeting to be convened in 2024.

A circular of the Company containing detailed information in relation to the above proposals, including the biographical details of the above candidates proposed for appointment and re-election as a director of the Eighth Session of the Board or as a shareholder's representative supervisor of the Eighth Session of the Supervisory Committee at the AGM, will be dispatched to the Shareholders in due course.

By order of the Board

Tong Ren Tang Technologies Co. Ltd.

Gu Hai Ou

Chairman of the Board

Beijing, the PRC

21 April 2021

As at the date of this announcement, the Board comprises Mr. Gu Hai Ou, Mr. Jin Tao, Mr. Ma Guan Yu, Ms. Wu Qian, Mr. Wang Yu Wei and Ms. Fang Jia Zhi as executive Directors, Mr. Ting Leung Huel, Stephen, Ms. Chan Ching Har, Eliza and Mr. Zhan Yuan Jing as independent non-executive Directors.

4

Disclaimer

Tong Ren Tang Technologies Co. Ltd. published this content on 21 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 April 2021 13:09:01 UTC.


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Sales 2021 5 031 M 787 M 787 M
Net income 2021 523 M 81,7 M 81,7 M
Net cash 2021 2 787 M 436 M 436 M
P/E ratio 2021 14,1x
Yield 2021 3,15%
Capitalization 7 326 M 1 145 M 1 145 M
EV / Sales 2021 0,90x
EV / Sales 2022 0,75x
Nbr of Employees 3 882
Free-Float 46,3%
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Technical analysis trends TONG REN TANG TECHNOLOGIES CO. LTD.
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Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 5,95 CNY
Last Close Price 5,72 CNY
Spread / Highest target 4,79%
Spread / Average Target 3,93%
Spread / Lowest Target 3,07%
EPS Revisions
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NameTitle
Yu Wei Wang General Manager & Executive Director
Li Su Chairman-Supervisory Board
Hai Ou Gu Chairman
Leung Huel Ting Independent Non-Executive Director
Ching Har Chan Independent Non-Executive Director
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