Bioperfectus Technologies disclosed late on October 8 that its third board of directors, at its eighteenth meeting, voted down a proposal from controlling shareholder Shaoxing Runkang Biomedical Equity Investment Partnership to convene an extraordinary general meeting to consider board renewal, with four votes in favor, five against, and zero abstentions. Runkang Biomedical sent a letter on September 22 requesting that an extraordinary general meeting be held before October 23, 2026, and nominated Fang Yongsheng, Hu Yuanyuan, Hou Wenshan, Jin Jing, and Dong Jingnan as non-independent director candidates for the fourth board, and Gao Guangxia, Yang Shunhai, and Liu Xiaolun as independent director candidates. Chairman Wang Guoqiang, directors Liang Kecheng and Guo Haitao, employee director Jia Zhaoqiang, and independent director Liu Xiaolun cast opposing votes. Wang Guoqiang stated that the seal on the controlling shareholder's documents differs from the company's records regarding its engraving and filing, leaving the seal's validity in dispute, and that the lawsuit seeking Runkang Biomedical's dissolution is still pending, making conditions premature for convening an extraordinary general meeting to consider the renewal. The announcement also clarified that the five directors opposed advancing the renewal process before the relevant major matters are investigated and disclosed in accordance with the law, not the company's lawful and compliant pursuit of renewal. Runkang Biomedical holds 27.53 percent of the listed company's total share capital. Liang Xilin, Taizhou Shuoyue Equity Investment Partnership, and Fang Yongsheng hold 71.88 percent, 20.13 percent, and 7.99 percent of its interests respectively. Liang Xilin has filed a lawsuit seeking Runkang Biomedical's dissolution and has reported to the public security authorities on grounds of misappropriated funds, which has been accepted. The company cautioned that if the court ultimately orders Runkang Biomedical's dissolution, Fang Yongsheng will no longer serve as its executive partner, and there is a risk of change in the company's controlling shareholder and actual controller.
Jiangsu Bioperfectus Technologies Co LtdBoard rejected controlling shareholder's proposal to convene an EGM for board renewal, citing disputed seal validity and pending dissolution lawsuit, creating governance uncertainty.
Its board renewal proposal was voted down by the listed company's board, and it faces a pending lawsuit seeking its dissolution.
