Fu Shou Yuan International Group Limited issued a supplementary announcement on 25 September 2026 detailing the rationale behind its decision to remove Executive Director Mr. Wang Jisheng and confirming the ongoing suspension of its Hong Kong-listed shares that began on 20 March 2026.

The board cited three principal factors for the dismissal:

1. A competent authority has formally launched an investigation that may involve Mr. Wang. 2. Preliminary results from an independent forensic review identified “Questionable Transactions” linked to Mr. Wang, some lacking sufficient documentation to substantiate purpose or commercial substance; Mr. Wang also declined interview requests during the probe. 3. Materials available to directors at the time reinforced concerns over these transactions.

Mr. Wang contests the findings and has lodged complaints with regulators and the board, challenging the investigator selection, scope and methodology, the probe’s preliminary conclusions, prior company disclosures, and the conduct of other directors and senior management. After obtaining external legal advice, the board maintained that these allegations lack substantive merit and expressed “significant reservations” about Mr. Wang’s fitness to remain on the board, concluding that the removal serves the best interests of shareholders.

Trading in Fu Shou Yuan shares (stock code 01448) will stay suspended until further notice. The company pledged to update the market on any material developments and resumption arrangements.

As of the announcement date, the board comprises Executive Directors Mr. Bai Xiaojiang (also Chairman) and Mr. Ho Man; Non-Executive Directors Mr. Tan Leon Li-an, Mr. Lu Hesheng and Mr. Huang James Chih-Cheng; and Independent Non-Executive Directors Ms. Liang Yanjun, Mr. Shi Xiaobei, Mr. Chen Gui, Mr. Ng Michael Chiu Ho, Mr. Zhao Guangbin, Mr. Zhou Quan and Ms. Qian Qian.