Dare Laser, a leading photovoltaic laser equipment manufacturer planning a Hong Kong listing, has recently completed a series of changes to its core management team and board structure, paving the way for its upcoming IPO. According to the latest announcement, Dare Laser received a written resignation from Independent Director Mr. Wu Yubin on March 10, 2026. Mr. Wu resigned from his positions as Independent Director of the Fourth Board of Directors, as well as member of the Nomination Committee and the Compensation and Evaluation Committee, due to personal reasons. He will no longer hold any position at the company after his resignation. Mr. Wu's original term was set to expire at the end of the Fourth Board's tenure.
Concurrently, Dare Laser received a resignation letter from Mr. Liu Zhibo, the company's Board Secretary and Financial Controller. Mr. Liu resigned from his role as Board Secretary due to internal work adjustments but will continue to serve as Financial Controller. His original term was also scheduled until the end of the Fourth Board's tenure.
To ensure the normal operation of the board and align with the company's Hong Kong listing plan, Dare Laser held the 11th meeting of its Fourth Board of Directors yesterday, approving several personnel and structural adjustments. Regarding the replacement of the Independent Director, the meeting approved a proposal to appoint Mr. Chen Jianfeng as the new Independent Director of the Fourth Board. Mr. Chen will also serve as a member of the Compensation and Evaluation Committee, with his term beginning upon approval at the company's 2026 third interim shareholders' meeting and lasting until the end of the Fourth Board's tenure.
The vacancy for Board Secretary was also filled during the meeting, with the approval of a proposal to appoint Mr. Qiao Duan as the new Board Secretary. His term will begin upon board approval and last until the end of the Fourth Board's tenure.
Additionally, in preparation for standardized operations and board adjustments following the H-share listing, Dare Laser plans to reconfigure the composition of its specialized board committees. The specific adjustments are as follows: Audit Committee: Members include Wang Yonghai, Qi Shaozhou, and Peng Xinbo, with Wang Yonghai as Chair; Compensation and Evaluation Committee: Members include Chen Jianfeng, Wang Yonghai, and Duan Xiaoting, with Chen Jianfeng as Chair; Nomination Committee: Members include Qi Shaozhou, Wang Yonghai, and Duan Xiaoting, with Qi Shaozhou as Chair; Strategy Committee: Members include Li Zhigang, Duan Xiaoting, and Wang Yonghai, with Li Zhigang as Chair.
Notably, the newly appointed core personnel at Dare Laser possess extensive experience in capital markets and cross-border operations, aligning closely with the company's strategic goal of listing in Hong Kong. Public records show that the new Independent Director, Mr. Chen Jianfeng, is a Hong Kong citizen who holds a master's degree from Harvard University. He worked at Blue Ocean Capital from September 2019 to September 2021 and at Newton Group from December 2021 to September 2024. He currently serves as CEO of Hong Kong Yuanrong Group.
The new Board Secretary, Mr. Qiao Duan, earned his bachelor's degree from Tsinghua University and a master's degree from Sciences Po in Paris. From October 2007 to July 2017, he served as Business Director of the Investment Banking Department V at Changjiang Securities Underwriting and Sponsorship Co., Ltd. From July 2017 to January 2026, he held positions as a Business Committee Member of the Investment Banking Business Committee and General Manager of the Central China Headquarters of Investment Banking at Minmetals Securities Co., Ltd.
The former Independent Director, Mr. Wu Yubin, who recently resigned, is a seasoned expert in optoelectronic technology. He earned a master's degree in optics from the Chinese Academy of Sciences' Institute of Optics and Electronics in 1987 and has been working at Huazhong University of Science and Technology since July 1987, serving as lecturer and associate professor.
Earlier, on January 27, Dare Laser announced that, to advance its international strategy, build a diversified capital operation platform, enhance its global brand image and comprehensive competitiveness, and accelerate overseas business development, the company is planning to issue overseas listed foreign shares (H-shares) and apply for a listing on the Main Board of the Hong Kong Stock Exchange.
Reviewing Dare Laser's 2025 performance, the company reported revenue of approximately 2.033 billion yuan, a year-on-year increase of 0.93%, and net profit attributable to shareholders of about 519 million yuan, a decrease of 1.59% year-on-year. The gross profit margin was 46.57%.