Reliable Corporation "expels" independent director, causing controversy, secretary responds

Reliable shares recently released an announcement on the "Announcement on the Removal of the Independent Director of the Company", stating that the independent director Jing Nuquan has lost independence, failed to fulfill the duty of diligence and responsibility, and lacks the professional ethics of an independent director. Therefore, he is not suitable to continue to hold the position of an independent director of the company. The board of directors has proposed to remove him from the position of independent director, causing wide market attention. On February 24, the reliable secretary of the board, Wang Xiangting, responded that the key reason for the decision to remove the independent director was that the independent director Jing Nuquan disregarded the interests of the company and small shareholders in the compensation dispute with director Bao Jia, which violated the company's "Fifth Board of Directors Compensation Plan". The plan stipulates that Bao Jia, as a non-independent director, does not receive director allowances and receives compensation according to the company's performance evaluation management system based on the specific duties he has performed for the company. However, since Bao Jia did not work for the company in 2025, he should not receive compensation, and some investors raised questions about his compensation in 2024 on the interactive platform. Therefore, the company's compensation committee held a meeting to discuss the issue of Bao Jia's compensation in 2025 and beyond. Wang Xiangting also stated that the compensation committee of the company currently has no solution to this dispute, and this matter has already had a certain impact on the company's reputation. "Many investors have come to inquire about this matter, and we are actively communicating and responding to soothe this impact." As of the close on the 24th, Reliable shares rose by 1.92% to 13.29 yuan per share. Currently, the removal of the independent director position of Reliable shares has been approved by the nomination committee and the board of directors and is pending approval at the shareholders' meeting scheduled to be held on March 12th.