On July 20, 2026, Ningbo WECO Optoelectronics Co., Ltd. held the 1st Extraordinary General Meeting of Shareholders 2026 and the 1st Meeting of the 4th Board of Directors. The meeting passed multiple core motions including revision of the Articles of Association, re-election of the 3rd Board of Directors, election of Chairman and Vice Chairman, and appointment of senior management, with all legal procedures fully standardized and complete.

To implement the guiding principles of the Company Law of the People's Republic of China (revised in 2023) on simplifying corporate governance structures and improving operational efficiency, and based on the operation reality of the Company as an unlisted joint stock limited company, the General Meeting of Shareholders voted and adopted the Motion on Revising the Articles of Association. Pursuant to the revised Articles of Association, the Company abolishes the Board of Supervisors and supervisor positions and fully adopts a one-tier governance structure. The Audit Committee under the Board of Directors will take over all statutory supervision functions previously undertaken by the Board of Supervisors.

This structural reform realizes integrated coordination of decision-making and supervision functions, streamlines management tiers, cuts internal communication and management costs, and establishes a flat, high-efficiency and agile modern corporate governance system that matches the Company’s expanding business scale and market competition demands.

As the term of office of the 3rd Board of Directors expired, upon compliant nomination by the controlling shareholder Ningbo WECO Holding Co., Ltd., the General Meeting of Shareholders lawfully elected five individuals, namely Qiu Zhiwei, Lv Yan, Qiu Yihang, Wu Zihao and Wu Shixing, to form the 4th Board of Directors, with each director serving a three-year term.

Right after the General Meeting of Shareholders, the Company convened the 1st Meeting of the 4th Board of Directors. After thorough discussion, all directors unanimously voted to elect Qiu Zhiwei as Chairman of the 4th Board of Directors and Lv Yan as Vice Chairman.

Upon nomination by the Board of Directors and voting of all directors, Qiu Yihang was unanimously appointed General Manager and Wang Mingshan Secretary of the Board. Upon nomination by General Manager Qiu Yihang and review and approval by the Board of Directors, Wu Zihao was appointed Deputy General Manager and Wang Mingshan concurrently Chief Financial Officer. The term of office of all above management personnel shall commence on the date of approval at this Board Meeting and expire when the term of the 4th Board of Directors ends.

The new Board of Directors and management team will strictly abide by compliance operation requirements, adhere to an innovative and pragmatic development strategy, keep deep cultivation in the core intelligent connected optoelectronics sector, repay the trust of customers and shareholders with stable and reliable products and services, and steadily boost operating performance and industrial competitiveness.

The voyage stretches boundless; we hoist sails and ride favorable winds. The board re-election and governance model innovation inject new institutional driving force into the Company’s high-quality development. In the future, relying on the streamlined and efficient one-tier governance platform, the Company will unite the strengths of the new management team, continuously expand market coverage in the optoelectronic industry, take solid steps for steady and long-term growth, and strive to write a brand-new chapter of corporate development.