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On May 18, 2023, Kailong Hi-Tech Co., Ltd. held its 2022 Annual Shareholders’ Meeting and the First Meeting of the Fourth Board of Directors. Chairman Zang Zhicheng, independent directors Sun Xinwei and Yuan Yinnan, and director Pan Haifeng attended in person; independent director Hu Gairong and directors Ye Jun and Li Huaichao attended via correspondence. The company’s legal counsel, supervisors, and senior management were also present.

The shareholders’ meeting reviewed and approved the «2022 Annual Report and Its Summary», the «2022 Board of Directors Work Report», the «Proposal on Board Election and Nomination of Non-Independent Director Candidates for the Fourth Board of Directors», and the «Proposal on Board Election and Nomination of Independent Director Candidates for the Fourth Board of Directors», among other items.

The meeting approved the election of Zang Zhicheng, Pan Haifeng, Yuan Yinnan, Zhu Lin, Xu Yanqing, Ye Jun, and Li Huaichao as the seven members of the company’s Fourth Board of Directors, with a term of three years, effective upon approval at the 2022 Annual Shareholders’ Meeting. Among them, Yuan Yinnan, Zhu Lin, and Xu Yanqing serve as independent directors of the Fourth Board.

At the meeting, management briefed the directors on the company’s core business performance over the past year and shared the company’s future development outlook. While acknowledging the decline in performance in 2022, the directors expressed confidence in the company’s prospects within its core segments and offered strategic advice on transformation: the company should seize opportunities in new energy, new materials, and new technologies; continuously enhance competitiveness; maintain its competitive advantages and industry leadership position; actively expand its thinking; and accelerate the transformation and upgrading of existing businesses. The new board members pledged to be diligent, forward-looking, and to advance together with Kailong Hi-Tech to deliver strong results for shareholders.

Chairman Zang Zhicheng expressed gratitude to the directors for their suggestions and contributions to the company’s development. With its strong development and R&D foundation, and under the guidance of leadership at all levels and the support of shareholders, Kailong Hi-Tech has made tremendous progress. He expressed hope that the new board would lead Kailong Hi-Tech to ride the winds of change and move boldly forward.

Chairman Zang Zhicheng stated with pride that Kailong Hi-Tech has been deeply committed to the industry for 22 years, always at the forefront of research and industrialization in atmospheric pollution prevention in China. The company has successively established the country’s first national-level enterprise technology center in the field of internal combustion engine emission control, a CNAS-accredited laboratory platform, and a world-class comprehensive performance test and research base for internal combustion engine exhaust systems. It has formed China’s only complete emission control industry chain, making outstanding contributions to advancing China’s internal combustion engine environmental emission standards and air pollution governance.