Zhejiang Yongan (08211): Suspension of all executive duties of Chairman and Executive Director Zhan FahuI.

Zhejiang Yongan (08211) announced that, following the board meeting held on February 25, 2025, the board of directors has decided to suspend Mr. Zhan Fahui from all his executive responsibilities as the chairman and executive director, effective immediately. This decision was made due to the board's concerns regarding Mr. Zhan Fahui's involvement and approval of unauthorized prepayments and the company's compliance with the GEM listing rules. The board further decided that Mr. Jin Lei, another executive director, will temporarily assume Mr. Zhan Fahui's executive responsibilities until further notice. The board will continue to operate in full capacity, striving to maintain effective corporate governance. To strengthen governance and oversee compliance matters, the board has established a Compliance Committee. The Compliance Committee consists of three independent non-executive directors, Mr. Yu Weidong, Mr. Yuan Lingfeng, and Mr. Zhang Jianyong, along with Mr. Xia Jianjian, a member of the company's board of supervisors.