Shanghai Materials Trading Group: Chairman resigns, nominates Shi Xiaolong as candidate for non-independent director.

Shanghai Trading Company announced that Chairman Ning Bin resigned from his position on June 15, 2026 due to a work transfer, but will continue to serve as the Secretary of the company's Party Committee. The 10th Board of Directors of the company agreed to nominate Shi Xiaolong as a candidate for non-independent director of the 10th Board of Directors at the first extraordinary meeting of 2026. This matter still needs to be put to a vote at the company's shareholders' meeting. Shi Xiaolong is currently the Vice President of Bailian Group, and does not hold any shares in the company, meeting the qualifications for directorship.