Fujian Aonong Biotechnology Group Co., Ltd. 2025 Independent Director Work Report (Liu Feng has resigned)
Fujian Aonong Biotechnology Group Co., Ltd.
2025 Independent Directors’ Work Report
I serve as an independent director in Fujian Aonong Biotechnology Group Co., Ltd. (hereinafter referred to as the "Company") and will leave in December 2025. During my tenure as an independent director of the company, I strictly followed the relevant provisions of the Company Law, Securities Law, Administrative Measures for Independent Directors of Listed Companies, Stock Listing Rules of the Shanghai Stock Exchange and the Articles of Association of Fujian Aonong Biotechnology Group Co., Ltd. (hereinafter referred to as the "Articles of Association"). At work, he carefully, conscientiously, faithfully and diligently performs the responsibilities entrusted by laws, regulations and the Articles of Association, actively participates in the company's decision-making on major matters, expresses opinions objectively, fairly and prudently, gives full play to the role of independent directors, and safeguards the overall interests of the company and the legitimate rights and interests of all shareholders, especially small and medium-sized shareholders. The main work situation in 2025 is now reported as follows:
1. Basic information of independent directors
(1) Independent director’s work resume, professional background and part-time job status
Liu Feng, born in 1966, Chinese nationality, no permanent residence abroad, graduate degree, PhD in Economics (Accounting). He is currently a professor at Xiamen University, engaged in accounting teaching and research, and serves as an independent director of Xiamen International Trade Group Co., Ltd., Ping An Bank, and Luckin Coffee Inc. (a company listed overseas).
(2) Description of independence
As an independent director of the company at that time, my tenure complied with the independence requirements stipulated in Article 6 of the "Administrative Measures for Independent Directors of Listed Companies", and there were no circumstances that affected my independence.
2. Annual performance overview of independent directors
(1) Number of times, methods and voting status of attendance at the board of directors
During the reporting period, the company held a total of 12 board meetings (a total of 11 meetings during my tenure). As an independent director of the company at that time, I carefully reviewed the meeting materials, communicated with relevant personnel before the meeting, attended the meeting on time and reviewed various proposals based on my professional knowledge and experience, exercised my voting rights in accordance with the law, made objective and fair judgments on relevant matters submitted to the board of directors for review, expressed independent opinions, and conscientiously performed the duties of an independent director.
My attendance at board meetings is as follows:
Electronic communication Whether two consecutive
Attendance required: In person; Entrusted
Letter of Absence Number of times not present in person
number of seats
Attend a meeting
11 11 9 0 0 No
In 2025, I voted in favor of all proposals reviewed by the board of directors (except when I am required to abstain from voting according to regulations).
(2) Attendance at the general meeting of shareholders
In 2025, the company held a total of 5 general meetings of shareholders, and I attended 3 general meetings to increase communication with the company's small and medium-sized shareholders.
In 2025, the convening and convening of the company's board of directors and shareholders (general meeting) were in compliance with legal procedures, and relevant approval procedures were implemented for major operating decision-making matters and other major matters.
(3) Participation in the work of special committees of the board of directors and special meetings of independent directors
In 2025, the company held a total of 14 meetings of the special committees of the board of directors (including 8 meetings of the Audit Committee, 3 meetings of the Remuneration and Appraisal Committee, 2 meetings of the Nomination Committee, and 1 meeting of the Strategy Committee). During my tenure, I personally attended the meetings of the Audit Committee and the Remuneration and Appraisal Committee, with an attendance rate of 100%. In 2025, the company held a total of 4 special meetings of independent directors. I attended all meetings in person, with an attendance rate of 100%.
As the convener of the Audit Committee and a member of the Remuneration and Appraisal Committee at that time, I actively attended the relevant meetings where I served. Regarding the proposals submitted for consideration by the relevant special committees of the Board of Directors and the special meetings of independent directors, I carefully reviewed the relevant documents and information before the meeting, and communicated with senior executives, persons in charge of relevant departments of the company, and accountants. Firms, law firms and other parties should fully communicate with each other, use their professional knowledge to express opinions independently, objectively and impartially, exercise voting rights independently with a rigorous attitude, faithfully perform the duties of independent directors, and effectively safeguard the overall interests of the company and the legitimate rights and interests of all shareholders, especially small and medium-sized shareholders.
I believe that all the proposals reviewed and approved by the special committees of the board of directors and the special meetings of independent directors that I serve have not harmed the interests of all shareholders, especially small and medium-sized shareholders; I voted against the first meeting of independent directors in 2025 because of the lack of supporting evidence of price fairness and unreasonable expected amounts in the daily related transaction proposals. In addition, I voted in favor of all the proposals at other meetings, and there was no objection or abstention.
(4) Exercising the powers of independent directors
In 2025, by attending the board of directors, participating in the special committees of the board of directors, and convening special meetings of independent directors, I will focus on the decision-making, implementation and disclosure of related transactions, commitments of the company and related parties, disclosure of financial information in financial accounting reports and periodic reports, internal control evaluation reports and other matters, and make independent and clear judgments on whether relevant matters are legal and compliant. I will focus on supervising potential major conflicts of interest between listed companies and controlling shareholders, directors and senior managers, proactively obtain materials required for decision-making, and express independent opinions on various necessary matters. During the reporting period, there were no matters requiring independent directors to exercise special powers.
(5) Communication with internal audit institutions and accounting firms that undertake audits of listed companies on the company’s financial and business status
- During the audit of the 2024 financial statements, as the then convener of the audit committee and other audit committee members, I maintained close communication with the accountants on key audit matters, audit progress, etc.
On January 25, 2025, I presided over the eighth meeting of the Audit Committee of the fourth board of directors. I listened to Rongcheng Accounting Firm's plan, content and scope of the company's 2024 audit work, as well as the pre-audit work situation. I expressed concern and communicated with the accountants on audit-related issues such as recognition of reorganization income, impairment of biological assets and other assets, and inventory of biological assets. This meeting approved the company's 2024 financial statement audit work plan.
On April 16, 2025, I chaired the 10th meeting of the Audit Committee of the Fourth Board of Directors, and listened to the Rongcheng Accounting Firm's report on communication matters at the completion stage of the audit (preliminary results of the company's 2024 audit work, "key audit matters" in the audit report, etc.), reviewed the company's 2024 financial report, internal control audit report and internal control evaluation report after preliminary audit opinions; listened to the company's audit center's summary of the company's 2024 internal audit work and 2025 Report on the annual internal audit work plan. This meeting approved the company's 2024 internal audit work summary and 2025 internal audit work plan.
- In addition, I also actively communicate with the company's internal audit department and accounting firm on a daily basis to promote the company to strengthen the business knowledge and auditing skills training of internal auditors, effectively discuss and communicate with the accounting firm on relevant issues, and maintain the objectivity and fairness of the audit results.
(6) Communication with small and medium-sized shareholders
I have dual identities as an independent director and a minority shareholder (I held 28,600 shares of the company before taking office and have remained unchanged), and I have always maintained the interests of small and medium-sized shareholders when participating in the company's decision-making. I also pay attention to various communication opportunities with other small and medium-sized shareholders. I not only follow the dynamics of other small and medium-sized shareholders online, but also communicate with the attending small shareholders on issues such as company development and financial information during my participation in the extraordinary shareholders (general meeting), and learn the concerns of other small and medium-sized shareholders in a timely manner.
(7) Time, content, etc. of on-site work at the listed company
In 2025, I will work on-site at the company for more than 15 days, which meets the on-site working time requirements stipulated in the "Measures for the Management of Independent Directors of Listed Companies" and other regulations. I regularly go to the company's on-site offices and inspections during my participation in the board of directors, shareholders' (general) meetings and other working hours to keep abreast of the company's operating conditions and the progress of major events after the company's reorganization. I also personally go to the company's front-line on-site investigations to master the company's operating information, pay close attention to the company's operating conditions and financial status, and communicate with The company's management maintains contact through on-site, phone, email, WeChat, etc., always pays attention to the impact of external environment and market changes on the company, pays attention to relevant reports about the company in the media and the Internet, keeps informed of the progress of the company's major events, grasps the company's operating dynamics, and puts forward suggestions and opinions from a professional perspective. The company's management attaches great importance to my opinions and suggestions and actively cooperates with them.
(8) Listed companies’ cooperation with independent directors
In the process of performing my duties, the company's board of directors, management and relevant staff provided active and effective cooperation and support, and provided relevant information in a timely and detailed manner so that I could keep abreast of the company's production and operation dynamics. The company actively adopted my opinions and suggestions, and provided timely supplements or explanations to the requested additional information, ensuring that I effectively exercised my powers.
3. Matters of focus in annual performance of duties by independent directors
(1) Related transactions that should be disclosed
During the reporting period, I promptly paid attention to the regulatory provisions on related-party transactions and strengthened the supervision of the company’s related-party transactions.
Review and supervise whether the company’s related transactions are objective, whether the pricing is fair and reasonable, and whether they harm the company and its shares.
make independent judgments on the interests of the East and other parties, and urge the company’s related-party transactions to be carried out in compliance with laws and regulations and in compliance with commercial principles.
OK.
The more significant related party transaction proposals during the reporting period mainly include:
Time Content My suggestion Effect 2025/3/24 The second independent directorship in 2025 My suggestion: The company’s special meeting on the price increase in the feed raw material supply chain will review the calculation method. Written information is required to prove the fairness of the price increase in 2025 and its relevance to the controlling shareholder, so as to prove it in related transactions. At the same time, the joint parties are provided with daily related transaction estimates, feed raw material agency import and export and procurement supply data, and the "Proposal on 2025 indicating the importance of market quotation data, asking whether there is a market quotation database for daily daily transactions with other related parties, and cash transaction prices can be used as related transaction estimates" as basic references, and it is recommended to save historical data and prove fairness through multiple sources. Establish a special quotation mechanism and assign dedicated personnel to integrate purchasing and sales data into the database, emphasizing the need to ensure the accuracy and completeness of data to facilitate analysis and decision-making.
Continue work.
2025/9/29 The 18th meeting of the Board of Directors reviewed My suggestion: Improve the system in real time to support daily tracking. Adopt daily reporting on the occurrence of daily related transactions with controlling shareholders.
Proposal on Estimated Related Transactions"
and "About increasing the 2025 annual
Daily interactions with other related parties
Transaction Estimated Proposal》
(2) Plans for listed companies and relevant parties to change or waive their commitments
During the reporting period, the company and relevant parties were not unable to fulfill their commitments.
(3) Decisions made and measures taken by the board of directors of the acquired listed company regarding the acquisition
During the reporting period, no listed companies were acquired.
(4) Disclosure of financial information in financial accounting reports and periodic reports, and internal control evaluation reports
During the reporting period, the company followed the relevant provisions of the Stock Listing Rules and combined with its own actual conditions.
According to the situation, the "2024 Annual Pre-Profit Announcement", "2024 Annual Performance Express Announcement" and "2025 Semi-annual Performance Pre-Profit Announcement" have been disclosed. I believe that the performance forecasts released by the company can effectively safeguard the equal right to know of the majority of investors.
During the reporting period, after fully understanding and reviewing the company's 2024 annual, 2025 first quarter, 2025 half-year, and 2025 third quarter reports, I believe that the aforementioned periodic reports can truly reflect the company's financial status and operating results during the corresponding period. I agree with the contents of the company's aforementioned periodic reports and guarantee that the contents of the company's aforementioned periodic reports are true, accurate, and complete, and do not contain false records, misleading statements, or major omissions.
The company has established a relatively sound internal control system, and all internal control systems comply with relevant laws, regulations and the requirements of the securities regulatory authorities. During the reporting period, the company's internal control overall operated well, was in line with the company's actual situation, and was able to ensure the normal operation of the company's operations and management. No major flaws or important flaws were found in the company's internal control over financial reporting, and no major flaws or important flaws were found in the company's internal control over non-financial reporting. I agree with the company's "2024 Internal Control Evaluation Report", which truly and objectively reflects the operation of the company's internal control system.
(5) Appointment and dismissal of accounting firms that undertake the audit business of listed companies
During the reporting period, the company's third extraordinary shareholders' meeting in 2025 reviewed and approved the "Proposal on Renewing the Audit Institution for 2025", and re-appointed Rongcheng Accounting Firm as the company's financial and internal control audit institution for 2025. I believe that Rongcheng Accounting Firm has the experience and ability to provide audit services for listed companies and can meet the company's financial audit and internal control audit needs. The review and voting procedures for the company's re-appointment of the accounting firm are in compliance with relevant laws, regulations and the Articles of Association, and I express my agreement with this.
(6) Appointment or dismissal of financial officers of listed companies
During the reporting period, there was no appointment or dismissal of financial directors of listed companies.
(7) Changes in accounting policies, accounting estimates or correction of major accounting errors due to reasons other than changes in accounting standards
During the reporting period, the company did not make any changes in accounting policies, accounting estimates or correction of major accounting errors due to reasons other than changes in accounting standards.
(8) Nominate or appoint or remove directors, hire or dismiss senior managers
The company held the 10th meeting of the fourth board of directors on January 7, 2025, and nominated and added Mr. Su Mingcheng, Mr. Li Jinglong, Mr. Li Haozhe, and Mr. Chen Mingyi as non-independent directors of the company's fourth board of directors, and nominated and added Mr. Yu Daojin as an independent director of the company's fourth board of directors. The board of directors selected and reviewed the director candidates and their qualifications, and believed that each director candidate has the qualifications and ability to serve as a director of the company.
Because I applied to resign from the relevant positions of independent director and special committee before the expiration of the original term, the company held the 20th meeting of the fourth board of directors on December 4, 2025, and reviewed and approved the "Proposal on the By-Election of Independent Directors of the Fourth Board of Directors of the Company". Mr. You Xianghua's qualifications were selected and reviewed, and it was deemed that he has the qualifications and ability to serve as an independent director of the company.
During the reporting period, the company did not appoint or dismiss senior managers.
(9) Remuneration of directors and senior managers, etc.
The company held the 14th meeting of the fourth board of directors on April 28, 2025 to review the "Remuneration Plan for Senior Management Personnel for 2025 and the 2024 Remuneration Plan". "Proposal on Total Annual Remuneration", I believe that the remuneration and remuneration plan for the company's senior management personnel is based on the remuneration level of the company's industry and scale and the company's actual operating conditions. It is in line with the company's actual status quo, is conducive to mobilizing the work enthusiasm and creativity of the company's senior managers, improving the company's operation and management level, and is conducive to the company's long-term sustainable development. There is no harm to the interests of the company and shareholders, and it complies with relevant national laws, regulations and the provisions of the "Articles of Association". As an independent director of the company at the time, I expressed my opinion on the matter.
During the reporting period, the company did not formulate or change equity incentive plans or employee stock ownership plans; there was no situation where directors or senior managers arranged stock ownership plans in subsidiaries that were to be spun off.
4. Overall evaluation and suggestions
In 2025, as the then independent director of the company, I performed my duties with integrity, diligence and independence in accordance with relevant laws, regulations and the company's articles of association, gave full play to the role of an independent director, promoted the company to improve its governance level, and safeguarded the legitimate rights and interests of the company and all shareholders. Whether from a professional or independent perspective, I am qualified to hold the position of independent director.
Independent Director (resigned): Liu Feng April 23, 2026