SBVE announced that the company's board of directors received a written resignation letter from Chairman Xie Hongtao on October 15, 2025. Due to job changes, Mr. Xie Hongtao resigned from his positions as Chairman and Director of the company. Mr. Xie Hongtao did not hold any shares in the company and will no longer serve in any capacity after his resignation. The company's board of directors nominated Mr. Wang Haibo as the new non-independent director candidate, with a term until the expiration of the eighth board of directors' term
