GLOBAL CORN GP (03889) announced that Mr. Wang Hui has resigned as the company's Chief Executive Officer, effective November 20, 2025, due to his intention to focus on other business and personal commitments. Mr. Wang Hui was previously appointed as CEO to oversee production operations at the group's Jinzhou production base. However, as of the date of this announcement, the restructuring plan for the outstanding loans owed by Jinzhou Yuancheng Biochemical Technology Co., Ltd. remains under negotiation and has not been finalized, leading to the continued suspension of operations at the Jinzhou production base.

On the other hand, the group's Shanghai production base is currently operating under the management of the General Manager and management team of Shanghai Haocheng Food Development Co., Ltd. Given these circumstances, to effectively control costs and reduce overall operational expenses, the board of directors believes there is no immediate need to appoint a replacement CEO until production resumes at the Jinzhou base or a clear business necessity arises.

Additionally, Mr. Wang Tieguang, Executive Director and Co-Chairman of the company, will continue to oversee the progress of the restructuring plan and manage future production development matters at the Jinzhou production base. Meanwhile, Mr. Kong Zhanpeng, Executive Director and Co-Chairman, will also be responsible for supervising production management at the Shanghai production base.