The dismissal of the independent director sparked infighting! Behind the reliable shareholding 5:2 voting, it revealed old regulatory accounts and power struggles.

Reliable shares, which focus on adult sanitary products as their main business, are deeply entangled in internal governance turmoil. On February 23, Reliable shares announced that the 17th meeting of the fifth board of directors was held through a combination of on-site and online meetings. With a vote of 5 in favor and 2 against, the resolution to remove Mr. Jing Naikuan from the position of independent director was approved. Director Bao Jia and independent director Jing Naikuan voted against the resolution. In the explanation provided, Reliable shares accused Jing Naikuan of losing independence and becoming a "spokesperson for specific shareholder interests," and of displaying behavior lacking professional ethics such as leaving the post without permission and blacklisting the secretary. On the other hand, opponent Bao Jia retaliated with a lengthy response, pointing directly at the malicious retaliation of the actual controller and chairman Jin Liwei against Jing Naikuan for "daring to speak out and sticking to principles," even involving past governance issues related to improper related-party transactions that had been warned by the Zhejiang Securities Regulatory Bureau.