Pu’er Lancang Ancient Tea Co., Ltd. (Lancang Tea) disclosed on 6 July 2026 that Independent Non-Executive Director Dr. Yang Kequan has submitted a written resignation due to personal health reasons. Dr. Yang also relinquishes his roles as Chairman of the Audit Committee and member of both the Remuneration and Appraisal Committee and the Nomination Committee.

According to Article 109 of the company’s Articles of Association, the resignation will not take effect until a successor is appointed to ensure the Board remains compliant with regulatory requirements. The current Board consists of eight directors, of whom three are independent. Dr. Yang’s departure, if unfilled, would reduce the proportion of independent directors below one-third and leave the Board without a professional accountant, triggering non-compliance with the PRC Company Law, the Articles, and Hong Kong Listing Rules.

Dr. Yang confirmed that he has no disagreement with the Board and that no matters related to his resignation require attention from shareholders or creditors. The Board expressed its appreciation for Dr. Yang’s contributions during his tenure.

As of the announcement date, the Board composition is: • Executive Directors: Ms. Du Chunyi (Chairlady), Mr. Zhou Xinzhong, Ms. Shi Yijing, Mr. Fu Gang • Non-Executive Director: Mr. Liu Jiajie • Independent Non-Executive Directors: Ms. Huang Lin, Mr. Tang Zhangliang, Dr. Yang Kequan (resignation pending effectiveness)

The company did not specify a timeline for appointing a successor.