Three senior professionals joined the independent director lineup, and FU SHOU YUAN (01448) has a clearer path to resumption.

After being suspended for nearly five months, FU SHOU YUAN International Group (01448) is continuing to intensify its rectification efforts. On August 14, the company released its latest announcement: Zhao Guangbin, Zhou Quan, and Qian Qian have been appointed as independent non-executive directors for a term of three years; each will join the audit committee and the compliance committee, and all will participate in the special investigation committee responsible for reviewing "suspicious transactions." This rectification process originated in March of this year. According to an announcement on June 18, forensic accountants initially identified 47 suspicious transactions between 2016 and 2025, involving approximately RMB 19.7 million, with some funds lacking supporting documentation, and implicating the then-president; the former president was dismissed in December 2025. The Stock Exchange subsequently issued resumption guidelines to the company, with core requirements including the completion of an independent forensic investigation and disclosure of results, rectification of outstanding financial performance, proof of management's integrity and competence, and verification of internal control rectifications, thereby providing a clear timeline for resumption clearance, which the company is progressing through step by step. In this context, the recent appointments indicate a clear direction. The special investigation committee, composed entirely of independent directors, serves as the decision-making and supervisory center of the entire investigation. The immediate participation of the three new members signifies an extension of professional coverage from financial compliance to dimensions such as macroeconomics and cross-border legal matters. For small and medium investors, an investigation led by independent individuals with no ties to the parties involved ensures that the conclusions withstand market scrutinythis is the most noteworthy governance implication beyond the announcement. The experience of the new independent directors also adds weight to this appointment. According to the August 14 announcement, Zhao Guangbin has served as a senior economist at PwC China and has held positions as an economist and policy director at the Hong Kong Financial Reporting Council; Zhou Quan has over 20 years of deep experience in financial compliance and equity investment; Qian Qian is a professional lawyer familiar with compliance issues for listed companies and domestic and foreign laws. Generally, seasoned professionals are quite strict about their due diligence when assuming independent director roles in listed companies; the appointment of these three individuals at this time can be seen as a vote of confidence in the companys operational conditions and rectification direction. Supporting this confidence is the unchanged fundamentals. According to the June 18 announcement, the companys cemetery and funeral services business continued to operate as usual during the suspension period. The demand-side certainty in the industry is also clear: the Ministry of Civil Affairs' "2025 National Aging Career Development Bulletin" indicates that by the end of 2025, the population aged 60 and above in the country will reach 323 million, accounting for 23.0% of the total population. Long-term shareholders have expressed that the company has ample cash and considerable dividends, and the short-term resumption process does not alter the long-term logic of the industry; they are willing to wait patiently. It is evident that from filling independent director roles to strengthening the investigative center, the path of the company's rectification is becoming clear and discernible. This article is reposted from Tongbi Finance; GMTEight Editor: Wenwen.