Laimei Pharmaceutical: 2025 Independent Director Work Report-Chen Geng
Chongqing Laimei Pharmaceutical Co., Ltd.
2025 Independent Directors’ Work Report
Chen Geng
I, Chen Geng, as an independent director of Chongqing Laimei Pharmaceutical Co., Ltd. (hereinafter referred to as the "Company"), strictly follow the "Company Law", "Measures for the Administration of Independent Directors of Listed Companies" and "Listed Company Governance Code" According to the "Shenzhen Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 2 - Standardized Operation of GEM Listed Companies" and other laws, regulations and normative documents, as well as the provisions and requirements of the "Company Articles" and "Independent Director Work System", the Company diligently and responsibly performed the duties of independent directors, actively attended relevant meetings, carefully reviewed various proposals of the board of directors, gave full play to the role of independent directors and members of various special committees, and effectively safeguarded the interests of the company and all shareholders. I would like to report my performance of duties in 2025 as follows:
1. Basic situation
(1) Personal resume
I am Chen Geng. I graduated from Chongqing University with a major in accounting and received a postdoctoral degree in accounting. I am Chinese nationality and have no right of overseas residence. I am a member of the Communist Party of China. I have a doctorate from Southwestern University of Finance and Economics and a postdoctoral degree from Chongqing University. He once worked for the Laoshan District Government in Qingdao. He has been a teacher at Chongqing University since May 2004 and an accounting professor since September 2015. From January 2016 to present, he has served as an independent director of Jiutai Fund Management Co., Ltd. (a non-listed company); from September 2020 to present, he has served as an independent director of China Tianrui Automotive Interior Parts Co., Ltd. (a Hong Kong listed company); from October 2020 to present, he has served as an independent director of Landai Technology Group Co., Ltd., and from December 2021 to present, he has served as an independent director of Fu'an Pharmaceutical (Group) Co., Ltd. He has served as an independent director of the company since June 2020.
(2) Description of independence
During the year, as an independent director of the company, I have not held any other positions in the company other than as an independent director. None of my immediate family members or major social relations hold positions in the company or its affiliated companies. I do not hold shares in the company. I have no relationship with the company or its controlling shareholders. I am able to ensure objective and independent professional judgment. I have not been punished by the China Securities Regulatory Commission and other relevant departments or stock exchanges. There are no circumstances that affect my independence.
2. Performance of duties in 2025
(1) Attendance at the board of directors and shareholders’ meetings
My attendance at the meeting is as follows:
Attendance at the general meeting of shareholders Attendance at the board of directors
situation
Attendance in person Number of proxy attendances Whether the number of absences in two consecutive shareholders' meetings Number of attendances required Number of absences
Number of times Number of meetings attended in person
8 8 0 0 No 2
In 2025, the company held 8 board meetings and reviewed and approved 31 proposals. I attended the company's board of directors on time and did not miss or fail to attend the meeting in person for two consecutive times. At the board meeting, I carefully read the proposal, maintained full communication with the company's management, and put forward relevant reasonable suggestions. I exercised my voting rights with caution to safeguard the overall interests of the company and the rights and interests of small and medium-sized shareholders. I have expressed my approval of all the proposals of the company's board of directors and other matters of the company based on careful review, and have not raised any objections, objections or abstentions.
In 2025, the company held 2 general meetings of shareholders, reviewed and approved 9 proposals, and I attended 2 general meetings of shareholders.
(2) Work status of special committees of the board of directors
Remuneration and Appraisal Committee Audit Committee
The number of times that should be attended. The number of actual attendance. The number of times that should be attended. The number of actual attendance.
3 3 5 5
When I served as the chairman of the Remuneration and Appraisal Committee of the Board of Directors, I presided over meetings and actively participated in the daily work of the Remuneration and Appraisal Committee. I evaluated and assessed the remuneration of directors, supervisors (the establishment has been canceled after review by the company's shareholders meeting) and senior managers in accordance with the company's performance evaluation standards, reviewed the performance appraisal plan of the leadership team, and effectively fulfilled the responsibilities and obligations of the Remuneration and Appraisal Committee.
During my tenure as a member of the Audit Committee of the Board of Directors, I strictly followed the "Work Regulations of the Audit Committee of the Board of Directors" and other relevant regulations, reviewed the company's annual audited financial report, periodic reports, renewal of the accounting firm and other relevant proposals, and supervised the company's financial status and the establishment and implementation of the internal control system. At the same time, the company carefully reviewed the audit work plan, work report and other contents submitted by the company's audit department, and effectively fulfilled the responsibilities and obligations of the audit committee members of the board of directors.
(3) Attendance at special meetings of independent directors
In 2025, the company held a total of 2 special meetings of independent directors to review matters related to the confirmation of daily related transactions in 2024 and the prediction of daily related transactions in 2025, the development of deposit business and related transactions in Guangxi Beibu Gulf Bank Co., Ltd., and the renewal of the accounting firm. After careful review and on the premise of independence, objectivity and prudence, I expressed independent opinions on the above major matters.
(4) Communication with internal audit institutions and accounting firms
In 2025, I actively communicated with the external audit agency and the internal audit department, listened to the reports made by the annual audit CPA and internal auditors on matters related to the annual audit and internal audit work, and conducted necessary communications with the annual audit CPA and the company's management on relevant issues, and faithfully performed the duties of an independent director.
(5) Communication with small and medium-sized shareholders
In 2025, I will communicate with small and medium-sized shareholders by participating in online performance briefings, shareholders' meetings and other methods. I will also actively pay attention to investors' questions on the online platform, understand investors' ideas and concerns, prudently perform the duties of an independent director, and effectively safeguard the legitimate rights and interests of small and medium-sized shareholders.
(6) On-site inspection and cooperation with the company
In 2025, I made full use of the opportunity to attend the board of directors, shareholders' meeting, special committee meetings of the board of directors, special meetings of independent directors, and communication with accountants to conduct on-site inspections and on-site work on the company. I participated in on-site work for 15 days, focusing on understanding the company's production and operation status, corporate governance and internal control and other system construction and implementation, and the implementation of board resolutions. At the same time, we maintain close contact with other directors, senior managers and relevant staff of the company through telephone calls, etc., pay timely attention to relevant reports on the company in the company's securities market and media networks, pay attention to the impact of external environment and market changes on the company, keep informed of the progress of the company's major events, understand the company's daily operations, and actively make suggestions for the company's operation and management. During the year, I received a high degree of cooperation from the company in all the work I carried out in the company.
(7) Training and learning situation
During the year, I actively participated in the special training on the standardized operation of the audit committee organized by the Chongqing Securities Regulatory Bureau and the internal training organized by the company, deepening my knowledge and understanding of relevant laws and regulations, especially those involving corporate governance, internal operations, etc., and constantly improving my ability to protect the interests of investors.
(8) Other work conditions
During the year, I did not propose to convene a board of directors; I did not propose to convene an extraordinary general meeting of shareholders; I did not propose to independently hire an intermediary agency to audit, consult or verify specific matters of the company.
3. Key matters to pay attention to when performing duties in 2025
(1) Related transactions
The company held the 43rd meeting of the fifth board of directors on March 20, 2025, and reviewed and approved the "Proposal on the Confirmation of Daily Related Transactions in 2024 and the Estimation of Daily Related Transactions in 2025" and the "Proposal on Carrying out Deposit Business and Related Transactions in Guangxi Beibu Gulf Bank Co., Ltd.". All independent directors held a special meeting of independent directors to review the above transaction matters and issued independent opinions with clear agreement. I believe that the company's daily related transactions meet the needs of the company's normal production and operation or business development, the pricing is fair, the related transactions are fair and reasonable, and there is no harm to the interests of the company and all shareholders; the company uses idle self-owned funds to carry out deposit business in Beibu Gulf Bank, both parties follow the principles of fairness, impartiality and openness, and the pricing principles are fair. When the board of directors voted on related party transactions, the related directors had abstained from voting.
(2) Remuneration of directors, supervisors and senior managers
The company held the first meeting of the Remuneration and Assessment Committee in 2025 on March 20, 2025, and reviewed and approved the "Proposal on the Remuneration of the Company's Directors, Supervisors and Senior Management Personnel in 2024"; the company held the second meeting of the Remuneration and Assessment Committee in 2025 on August 19, 2025. The meeting reviewed and approved the "Proposal on the Semi-annual Remuneration of the Company's Directors, Supervisors and Senior Management Personnel in 2025"; the company held the third meeting of the Remuneration and Appraisal Committee in 2025 on December 29, 2025, and reviewed and approved the "Proposal on the Performance Appraisal Plan for the Leadership Team in 2024". The company's remuneration plan for directors, supervisors and senior managers fully takes into account the company's actual operating conditions, industry salary levels and relevant personnel's performance of duties, and does not harm the interests of shareholders, especially the interests of small and medium-sized shareholders.
(3) Matters related to periodic reports and internal control evaluation reports
During the reporting period, the company strictly complied with the requirements of the Company Law, Securities Law, Information Disclosure Management Measures for Listed Companies, Shenzhen Stock Exchange GEM Stock Listing Rules and other relevant laws, regulations and normative documents, and prepared and disclosed periodic reports and internal control evaluation reports on time. The relevant periodic reports accurately disclosed the financial data and important matters during the corresponding reporting period, fully revealing the company's operating conditions to investors. The company's review and disclosure procedures for periodic reports are legal and compliant, and the financial data are accurate and detailed, truly reflecting the company's actual situation.
(4) Employment of accounting firms
The company held the 45th meeting of the fifth board of directors on August 20, 2025, and reviewed and approved the "Proposal on Re-appointment of the Accounting Firm". Chongqing Kanghua Accounting Firm (Special General Partnership) has professional competence, investor protection capabilities, good integrity, can maintain independence in practice, and meets the company's external audit requirements. The company's procedures for re-appointing an accounting firm comply with relevant laws and regulations.
4. Overall suggestions and evaluation
In 2025, as an independent director of the company, I strictly abide by laws and regulations such as the Company Law, the Code of Governance of Listed Companies, the Measures for the Management of Independent Directors of Listed Companies, as well as the Articles of Association, the Work System of Independent Directors, etc., conscientiously perform my duties, carefully consider various proposals, and effectively fulfill my obligation to safeguard the interests of the company and shareholders. I pay close attention to corporate governance operations and business decisions, and maintain good and effective communication with the board of directors and management.
In 2026, I will continue to adhere to the spirit of integrity and diligence, carefully study laws, regulations and relevant provisions, perform the obligations of independent directors in accordance with the law, play the role of special committees, and continue to comply with relevant laws, regulations and normative documents, as well as the provisions and requirements for independent directors such as the "Articles of Association" and "Independent Director Work System" , provide more suggestions for the company's development based on its own professional knowledge and experience; strengthen communication with the company's management, actively play the decision-making and supervisory role of independent directors, resolutely safeguard the legitimate rights and interests of the company as a whole and all shareholders, especially small and medium-sized shareholders, promote the company's stable and standardized operations, and promote the company's sustainable, stable and healthy development.
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(This page has no text, but is the signature page of the 2025 independent directors’ performance report of Chongqing Laimei Pharmaceutical Co., Ltd.)
Independent Director:
Chen Geng
March 18, 2026