LANCANG TEA(06911.HK): Independent Non-executive Director Yang Kequan Resigns Due to Health Reasons

NewTimeSpace News: Pu'Er Lancang Ancient Tea Co., Ltd. issued an announcement dated 6 July 2026. The Company received a written resignation letter from Dr. Yang Kequan on 6 July 2026. Dr. Yang resigned from his positions as Independent Non-executive Director, Chairman of the Audit Committee, member of the Remuneration and Assessment Committee and Nomination Committee due to personal health issues. Upon resignation, Dr. Yang will cease to hold any offices in the Company and its subsidiaries.

Pursuant to the Articles of Association of the Company, if the resignation of an Independent Non-executive Director results in the number of Independent Non-executive Directors falling below one-third of the total Board members or leaves the Board without accounting professionals, such resignation shall only become effective after a new director is appointed to fill the vacancy. The Board currently consists of eight directors, three of whom are Independent Non-executive Directors. Upon Dr. Yang’s resignation, the number of Independent Non-executive Directors will drop below one-third of the Board, and the Board will no longer have a designated accounting professional. Accordingly, the resignation shall take effect only after the Company appoints a new Independent Non-executive Director to fill the vacancy. Dr. Yang has confirmed that there exists no dispute or difference of opinion between himself and the Board.