Hongchuan Wisdom announced that the term of current rotating president Huang Yuntao is about to expire, and the board of directors deliberated and agreed to appoint Li Xiaoli as rotating president for one year from January 1, 2026. Li Xiaoli is still in charge of the company's finance, etc., and is no longer a senior vice president. As of December 30, 2025, he held 1.256 million shares of the company. Huang Yuntao left office after his term of office expires and remains a director of the company. China Securities Securities Peng Yuan believes that the change of president has no significant adverse effects. The company's principal and “Hongchuan Debt Transfer” credit rating will remain AA-. The rating outlook is stable, and it will be valid until the “Hongchuan Bonds Transfer” period.

Hongchuan Wisdom announced that the term of current rotating president Huang Yuntao is about to expire, and the board of directors deliberated and agreed to appoint Li Xiaoli as rotating president for one year from January 1, 2026. Li Xiaoli is still in charge of the company's finance, etc., and is no longer a senior vice president. As of December 30, 2025, he held 1.256 million shares of the company. Huang Yuntao left office after his term of office expires and remains a director of the company. China Securities Securities Peng Yuan believes that the change of president has no significant adverse effects. The company's principal and “Hongchuan Debt Transfer” credit rating will remain AA-. The rating outlook is stable, and it will be valid until the “Hongchuan Bonds Transfer” period.