On 14 August 2026, Befar Group Co., Ltd. announced the immediate resignation of Executive Director and Development Strategy Committee member Ren Yuanbin, citing an adjustment of work duties. Ren will remain a director of Shandong Binhua Hydrogen Energy Co., Ltd., a non-wholly-owned subsidiary. The Board confirmed that Ren has no disagreements with management and that no other matters require shareholder or exchange attention. Appreciation was expressed for his service.

Concurrently, the Board resolved to nominate Vice President Sun Huiqing, 55, as an Executive Director for the remainder of the sixth Board session, subject to approval at an upcoming extraordinary shareholders’ meeting (ESM). If elected, Sun will serve without director’s emolument under a service contract lasting up to three years.

Sun has been with Befar since 1995, holding roles including deputy chief engineer, supervisor, assistant to the president, safety director (since December 2021) and vice president (since April 2023). He also sits on the boards of two subsidiaries: Binzhou Binhua Safety Consulting Service Co., Ltd. (executive director since December 2021) and Shandong Befar Dongrui Chemical Co., Ltd. (chairman since January 2026).

Educationally, Sun holds an associate degree in inorganic chemistry from Shanghai Institute of Technology and a bachelor’s degree in chemical engineering and technology from China University of Petroleum (East China). Industry accolades include “Chief Technician of the Shandong Chemical Industry” (2008) and “National Model Worker of the Petroleum and Chemical Industry.”

As of the announcement date, Sun owns 0.76 million A shares of Befar Group and has an interest in a further 0.18 million A shares through the company’s Employee Shareholding Scheme II, pending vesting. The candidate reports no relationships with existing directors, senior management or substantial shareholders and holds no additional market-listed directorships.

A circular detailing Sun’s proposed election and the ESM notice will be dispatched to shareholders in due course. The current Board comprises three executive directors (Yu Jiang, Dong Hongbo, Liu Hongan), one non-executive director (Song Shuhua) and four independent non-executive directors (Hao Yinping, Li Haixia, Wang Qian, Cao Chunmeng).