latenightpoker| Chen Fashu and three other directors resigned, Yunnan Baiyao's board of directors changed

On the evening of May 26, Yunnan Baiyao announced that the company's board of directors recently received written resignation reports from directors Chen Fashu, Lu Hongdong and Chen Jianhui.

The announcement shows that according to the relevant provisions of the Company Law and the articles of Association, the resignation applications of the above three people will take effect from the date they are served on the board of directors. The company also said that the resignation of the above-mentioned directors will not cause the number of members of the board of directors to fall below the legal minimum and will not affect the normal operation of the board of directors and the operation of the company.

That night, the company also announced that the company's board of supervisors recently received written resignation reports from the company's supervisors you Guanghui and Zhong Jie.

Chen Fashu and other three directors resigned.

Among the three directors who resigned, Chen Fashu is a leading figure in the capital market. He is not only the founder of Xinhua, but also the actual controller of Xinhua Industrial Group Co., Ltd., the second largest shareholder of Yunnan Baiyao. As of the date of announcement, Chen Fashu holds 1252 of Yunnan Baiyao.Latenightpoker.75 million shares, and its holding company, Xinhua Huadu Industrial Group Co., Ltd., holds Yunnan Baiyao 24.Latenightpoker.41% of the shares, the company's second largest shareholder.

Public data show that Chen Fashu participated in the restructuring of Zijin Mining and Tsing Tao Beer. At present,LatenightpokerHe is a shareholder in several listed companies. According to the quarterly reports of various listed companies this year, during the reporting periodLatenightpokerHe holds shares in Saint shares, Longji Green Energy, Xiangyuan Wen Lu, Bichuang Technology, Henghe shares, Lightning Micropower and other companies.

According to the Yunnan Baiyao announcement, due to work adjustment, Chen Fashu applied to resign as a director of the 10th board of directors, chairman of the strategy committee of the board of directors, and member of the remuneration and assessment committee. After resigning, Chen Fashu will no longer hold any position in the company or its holding subsidiary.

The other two resigned directors are Lu Hongdong and Chen Jianhui, the son of Chen Fashu. The announcement shows that due to work adjustment, Lu Hongdong applied to resign as a director of the 10th board of directors and a member of the strategy committee of the board of directors. After resigning, Lu Hongdong still served as deputy secretary of the party committee of the company. Chen Jianhui applied to resign as a director of the 10th board of directors and a member of the nominating committee of the company. after his resignation, Chen Xiehui will no longer hold any position in the company or the company's holding subsidiary. As of the date of the announcement, Chen Jianhui held 177300 shares of the company.

Yunnan Baiyao announced that the company held the fifth meeting of the 10th board of directors in 2024 on May 24, which examined and passed the "motion on the election of non-independent directors of the 10th board of directors", according to the relevant regulations. The board of directors of the company approved the qualifications of Guo Xin recommended by the shareholder Yunnan State-owned Equity Operation and Management Co., Ltd., you Guanghui and Shangguan Changchuan recommended by the shareholder Xinhua du Industrial Group Co., Ltd., the company's board of directors agreed to nominate the above-mentioned persons as candidates for non-independent directors of the 10th board of directors of the company, the term of office is from the date of examination and approval of the general meeting of the company to the expiration of the tenth session of the board of directors.

The Board of Directors of Yunnan Baiyao accelerates the "change"

In fact, Yunnan Baiyao is at the forefront of the anti-corruption storm recently. According to reports, the company's former chairman Wang Minghui and former executives Wang Jin and Yin Pingyao were successively taken away by the local discipline inspection commission for investigation because they were involved in the same matter. So far, Yunnan Baiyao has not formally responded to the news.

The reporter noted that since last year, a number of senior executives of Yunnan Baiyao have resigned one after another, all for "personal reasons".

On March 7, 2023, the company announced that Wang Minghui, chairman of the company, resigned as chairman of the 10th board of directors, director, member of the strategy committee of the board of directors, and all positions in the company and its holding subsidiaries for personal reasons.

On March 15, 2023, Wang Jin resigned from the company's chief sales officer, senior vice president and all positions in the company and its holding subsidiary for personal reasons. Yin Pingyao resigned from the company's chief operating officer, senior vice president and all positions in the company and its holding subsidiary on February 7 this year. Yu Juan resigned as the company's chief human resources officer and all her positions in the company and its holding subsidiaries for personal reasons.

After experiencing the "Waterloo" of stock speculation, Yunnan Baiyao said in January this year that it "quit stocks". The company said that under the principle of further focusing on the main business and prudent investment, the company withdrew all secondary market securities investment in the third quarter of 2023, and plans to stop carrying out secondary market securities investment business in 2024.

After bidding farewell to stock speculation, Yunnan Baiyao's performance increased significantly. In 2023, the company achieved operating income of 39.111 billion yuan, an increase of 7.19% over the same period last year, and a net profit of 4.094 billion yuan, an increase of 36.41% over the same period last year. In the first quarter of this year, the company achieved operating income of 10.774 billion yuan, an increase of 2.49% over the same period last year, and a net profit of 1.702 billion yuan, an increase of 12.12% over the same period last year.