Core Viewpoint - The board of Reliable Co., Ltd. has proposed to dismiss independent director Jing Naiquan, which has sparked controversy and dissent among board members, particularly from director Bao Jia, who views the dismissal as retaliation for Jing's independent stance [1][2]. Group 1: Board Decisions and Controversies - The board meeting on February 12, 2026, resulted in a vote to dismiss Jing Naiquan, with 5 votes in favor and 2 against, highlighting internal conflicts within the board [1]. - Bao Jia criticized the dismissal as a retaliatory act against Jing for his independent performance, arguing that the company's claims of Jing's bias are unfounded [1][2]. - Jing Naiquan contended that the reasons for his dismissal are illegal and stem from work disagreements, asserting his commitment to minority shareholders [1][2]. Group 2: Company Financial Performance - Reliable Co., Ltd. reported a revenue of 829 million yuan for Q3 2025, a year-on-year increase of 5.1%, and a net profit attributable to shareholders of 27.98 million yuan, up 26.8% [2]. - The company’s operating cash flow for the same period was 89.72 million yuan, reflecting a significant year-on-year growth of 136.3% [2]. - As of the end of Q3 2025, the total assets of the company stood at 2.151 billion yuan, a 2.9% increase from the previous year, while the net assets attributable to shareholders slightly decreased by 0.04% to 1.334 billion yuan [2]. Group 3: Historical Context and Company Background - Reliable Co., Ltd. was established in 2001 and went public on the ChiNext board in June 2021, focusing on the design, development, production, and sales of disposable hygiene products [4]. - The company’s product range includes baby care products, adult incontinence products, and pet hygiene products, with well-known brands such as Kelao and Absorb [4]. - Bao Jia, a significant shareholder and former CEO, has consistently opposed various board proposals, indicating ongoing governance challenges within the company [3][4].