Kaishen New Energy: Director and President Zhang Rong steps down, Chen Peng appointed as the company's new president

On March 17, 2026, Kaisheng New Energy Co., Ltd. (hereinafter referred to as “the Company”) announced that it has received a written resignation letter from Mr. Zhang Rong. Due to work adjustments, Mr. Zhang Rong has applied to resign from his positions as a director, President, and member of the Strategic Committee of the Board of Directors. Mr. Zhang Rong’s departure will take effect on March 17, 2026. His resignation will not cause the number of directors on the board to fall below the statutory minimum nor affect the normal operation of the board.

The announcement states that, based on the nomination by Kaisheng Technology Group Co., Ltd., and after review by the Nomination Committee of the Board of Directors, the Board agrees to nominate Ms. Liang Xiao as a non-independent director candidate for the 11th Board of Directors, subject to approval by the shareholders’ meeting. The term of office will be from the date of approval by the shareholders’ meeting until the expiration of the current Board’s term.

The announcement also states that, in accordance with the Company Law of the People’s Republic of China (hereinafter referred to as the “Company Law”) and the Articles of Association of Kaisheng New Energy Co., Ltd. (hereinafter referred to as the “Articles of Association”), the sixth meeting of the 11th Board of Directors approved the proposal to appoint Mr. Chen Peng as the President of the Company. After being nominated by the Chairman and approved by the Nomination Committee of the Board, the Board agreed to appoint Mr. Chen Peng as President, with his term lasting from the date of this resolution until the expiration of the current Board’s term. It also approved appointing Mr. Chen Peng as the authorized representative of the Company under Rule 3.05 of the Listing Rules of The Stock Exchange of Hong Kong Limited, effective after Mr. Zhang Rong’s departure.

(Company Announcement)