On February 14, 2024, YS Biopharma Co., Ltd. announced that it has received a requisition from APEX Prospect Limited requesting the Company to convene an extraordinary general meeting (EGM) to consider proposal: (i) to reaffirm the appointment of each of Haitao Zhao, Henry Chen, Pierson Yue Pan, Yuntao Cui, Jin Wang, Chunyuan (Brenda) Wu as a member of the Board of Directors of the Company; (ii) to conduct an independent investigation of any alleged misconduct and/or illegal activities of the Company caused by or under the control of Mr. Yi Zhang, the former chairperson of the Board; (iii) to take immediate actions to strengthen the Company's corporate governance and internal control and management as advised by counsel and other professionals; and (iv) to remove Mr. Yi Zhang from all positions with the Company and any subsidiaries of the Company, including without limitation as director, officer and/or legal representative. The Board had reviewed the requisition and decided to convene an EGM on February 22, 2024 to vote on the resolutions proposed by the Requisitioning Shareholder.