Hong Kong–listed intralogistics equipment maker FOLANGSI CO., LTD has released a detailed proposal to refresh its governance structure at the upcoming annual general meeting (AGM) scheduled for 25 June 2026.

The current (third) Board term expires on 2 April 2026. Management is seeking shareholder approval for a nine-member fourth-session Board comprising:

• Executive Directors (re-elected): Chairman & founder Hou Zekuan; General Manager (CEO) and co-founder Hou Zebing; Deputy GM Qian Xiaoxuan; Board Secretary Ma Li; and Deputy GM Zhou Limin. • Non-executive Director (new): Li Hanchi, currently General Manager of Liuzhou Liugong Forklifts. • Independent Non-executive Directors: Chiang Edward and Du Lizhu (both re-elections) plus new appointee Hou Yu, a vice-president at Guangdong Merchant Venture Capital.

Departing directors include non-executive director Yu Chuanfen and independent non-executive director Dr Fan Xia, both of whom will retire at the AGM after confirming no disagreements with the Board.

Founders’ shareholding concentration remains high. As of the announcement date, Hou Zekuan directly holds 52.92 million shares, while Hou Zebing controls 81.91 million shares (including 31.10 million via Guangzhou Daze Partnership). Under an acting-in-concert agreement effective since May 2020, the brothers are deemed to control a combined 134.83 million shares, equal to 38.74% of the company’s issued share capital.

Compensation terms remain conservative: • Executive directors will not receive incremental board fees beyond existing senior-management remuneration. • Each independent non-executive director is entitled to an annual director’s fee of RMB0.084 million. • The incoming non-executive director will forgo director’s fees.

Supervisory Committee changes mirror the Board refresh. Shareholders will vote on re-electing He Xiaocheng and Liu Xiaoli as shareholder-representative supervisors, while employee-elected supervisor Li Xiaolan has already been confirmed for the new three-year term. Supervisors will continue in office until the fourth-session committee takes effect.

All resolutions will be tabled under a cumulative voting system at the 25 June AGM. The company will issue service contracts and appointment letters once shareholder approval is secured.

The announcement was released from Guangzhou on 26 March 2026, underscoring FOLANGSI’s commitment to orderly governance transition as it approaches the midpoint of its first post-listing board cycle.