Befar Group Co., Ltd. reported that Joint Company Secretary Ms. Sun Shufang will step down on 29 September 2026 due to an adjustment of work duties. She will retain her position as Chief Financial Officer. The Board confirmed that Ms. Sun has no disagreements with directors and no matters requiring shareholder or HKEX attention.

Effective the same date, Mr. Sun Qingwei, currently Vice President and Board Secretary, will assume the role of Joint Company Secretary. Mr. Sun brings extensive experience in securities-related affairs and senior management positions at Shandong Hi-Speed Group and its Hong Kong-listed subsidiaries. Ms. Liu Shengyun will remain as the other Joint Company Secretary, collaborating with Mr. Sun and assisting him in meeting Hong Kong Listing Rule 3.28 experience requirements.

Because Mr. Sun does not yet hold the formal company secretary qualifications stipulated in Hong Kong Listing Rules 3.28 and 8.17, the company obtained a waiver from the Hong Kong Stock Exchange for a three-year period starting 29 September 2026. The waiver is conditional on: 1) Ms. Liu’s ongoing assistance to Mr. Sun during the period; and 2) automatic revocation if the company commits material Listing Rule breaches.

Before the waiver expires, Befar Group must demonstrate to the Stock Exchange that Mr. Sun has gained sufficient experience to discharge company secretary duties independently.

The Board expressed gratitude to Ms. Sun Shufang for her past contributions and welcomed Mr. Sun Qingwei to his new position.