Group 1 - The core point of the announcement is that the company plans to purchase liability insurance for its directors and senior management to enhance risk management and protect the rights of the company and its investors [1][2] - The insurance will cover a maximum compensation limit of RMB 15 million, with a premium not exceeding 2% of the compensation limit [1] - The insurance period is set for 12 months, with the possibility of annual renewal or reinsurance [1] Group 2 - The board of directors reviewed the proposal for the liability insurance on January 20, 2026, and the proposal was submitted to the shareholders' meeting for approval due to the conflict of interest [2] - The first extraordinary shareholders' meeting of 2026 is scheduled for February 5, 2026, where the proposal will be discussed [3][4] - The voting for the shareholders' meeting will be conducted through both on-site and online methods, utilizing the Shanghai Stock Exchange's voting system [5][6]

Group 1 - The company held its 15th meeting of the 11th Board of Directors on December 24, 2025, via electronic communication [2][3] - All 9 directors were present at the meeting, and it was chaired by Mr. Wang Wanxin [4][5] - The meeting complied with relevant laws, regulations, and the company's articles of association [6] Group 2 - The board approved a proposal to use idle self-owned funds for entrusted financial management, with a unanimous vote of 9 in favor [7] - A proposal to purchase liability insurance for directors and senior management was discussed, but all directors abstained from voting due to conflict of interest; this proposal will be submitted to the shareholders' meeting [8] - The board also approved a proposal to convene the first temporary shareholders' meeting of 2026, with a unanimous vote of 9 in favor [9]

Core Viewpoint - The company announced plans to purchase liability insurance for its directors and senior management to enhance its risk management system and protect investor interests [1] Group 1 - The company will hold its 23rd meeting of the 5th Board of Directors on November 21, 2025, to discuss the proposal for purchasing liability insurance [1] - The initiative aims to improve the decision-making, supervision, and management functions of the board and senior management [1] - The liability insurance will cover the company, its subsidiaries, and relevant responsible personnel as specified in the insurance contract [1]

Group 1 - The company intends to continue purchasing liability insurance for its directors and senior management to protect their legal rights and improve the risk control system [1][2] - The authorization for purchasing liability insurance has expired, prompting the company to seek approval from the shareholders for a new authorization [1] - The board plans to delegate the responsibility of handling the insurance purchase to the management team, including selecting the insurance company and determining coverage limits and premiums [1] Group 2 - The decision-making process involved meetings of the Compensation and Assessment Committee, the Board of Directors, and the Supervisory Board, with all directors and supervisors abstaining from voting [2] - The matter will be submitted for approval at the company's first extraordinary general meeting of shareholders in 2025 [2]