Yingjia Gongjiu Re-elects Ni Yongpei as Chairman After Board Transition

On September 15, 2026, Yingjia Gongjiu (603198. SH) held its first extraordinary shareholders meeting of 2026, completing the scheduled transition of its fifth board of directors and electing non-independent and independent directors to the sixth board. A subsequent first meeting of the sixth board elected Ni Yongpei as chairman and Zhang Dandan as vice chairwoman. The same day, the company announced that Sun Wangsheng would continue as board secretary. Following the transition, the new board's directors will serve three-year terms starting from the date the shareholders meeting approved their election.

The shareholders meeting nominated Ni Yongpei, Zhang Dandan, Qin Hai, Yang Zhaobing and Ye Yuqiong as candidates for non-independent directors of the sixth board, and Cheng Yanlei, Du Xiaowei and Wang Shanyong as candidates for independent directors. After the shareholders meeting vote, the company convened the first meeting of the sixth board, electing Ni Yongpei as chairman and Zhang Dandan as vice chairwoman by a vote of 9 in favor, 0 against and 0 abstentions, with terms lasting until the sixth board's expiry. All five non-independent directors—Ni Yongpei, Zhang Dandan, Qin Hai, Yang Zhaobing and Ye Yuqiong—had served on the fourth board, keeping the team stable after their re-election.

On the same day, Yingjia Gongjiu issued an announcement on the appointment of the board secretary, stating that Sun Wangsheng would continue in the role. Nominated by general manager Yang Zhaobing and reviewed by the board's nomination committee, the board appointed Ye Yuqiong and Gu Zhengzhu as deputy general managers, Guang Jiaquan as chief engineer and Wang Ya as head of finance, each for a three-year term. Gu Zhengzhu is a new face in management. His biography shows he was born in August 1974, is a Chinese national without permanent residency abroad, is a member of the Communist Party of China and holds a college diploma. In June 2011, he was an individual shareholder of Yingjia Group with a 0.69% stake, or 511,633 shares. Gu previously worked as a workshop employee at Foziling Distillery, director of the Shucheng, Huainan and Anqing offices of the sales company, head of the Jiangsu region, deputy general manager of Yeling Beverage, deputy general manager of the sales company, general manager of the sales company's manor branch, general manager of the Anhui management center, general manager of the Jiangsu management center and general manager of the Dongcang direct sales company.

He has served as a director of Yingjia Group since November 2020, general manager of the sales company since March 2026 and deputy general manager of the company since September 2026.

Yingjia Gongjiu's 2026 interim report shows that in the first six months of 2026, the company recorded operating revenue of RMB 3.416 billion, up 8.08% year on year; net profit attributable to shareholders of RMB 1.162 billion, up 2.79%; and net cash flow from operating activities of RMB 1.075 billion, up 239.52%. By quarter, in the second quarter of 2026, operating revenue was RMB 1.186 billion, up 6.55% year on year, and net profit attributable to shareholders was RMB 327 million, up 8.44%. The company said that in the first half of 2026, amid a complex industry environment and market changes, it adhered to its core operating strategy and coordinated production quality improvement, brand cultivation, sales expansion and management empowerment to steadily advance its operating tasks.

Financial statement items show that selling expenses for the reporting period were RMB 384 million, up 24.95% year on year, which the company attributed mainly to higher advertising and promotion expenses. Administrative expenses rose slightly by 3.1% year on year, mainly due to higher depreciation. Net cash flow from operating activities was RMB 1.075 billion, up 239.52% year on year, which the company explained was mainly due to an increase in cash received from sales of goods and a decrease in cash paid for purchases of goods.

In the first half of 2026, the company's top ten shareholders and their holdings changed, with actual controller Ni Yongpei entering the top ten shareholders with 1.584 million shares.