Bowei Alloy: Mr. Zheng Xiaofeng Applied to Resign from His Positions as Director and Vice President of the Company Due to Personal Reasons

Securities Daily Network News: On March 24, BoWei Alloy responded to investor questions on the interactive platform, stating that the company’s strategy in the field of copper-based alloy special materials is to “follow and surpass international benchmark companies.” However, there is still a significant gap between domestic new materials and foreign ones. International material companies, represented by Europe, have a century of history. Domestic companies need to find some footholds and leverage modern tools to catch up with their technological level and shorten the gap. Therefore, the company is through digital transformation and the establishment of a digital R&D ecosystem, using this as a leverage to quickly narrow the gap with international benchmarks and achieve surpassing in the future, while also widening the gap with similar domestic companies to continuously enhance the company’s core competitive barriers.

The characteristics of the materials industry are high technical barriers, long R&D cycles, and huge R&D costs. It requires a mission to promote technological progress and lead industry development, along with sufficient industry patience. Only then can a company follow and surpass international benchmarks. Last year, the company received a written resignation letter from Mr. Zheng Xiaofeng, Director and Vice President. Mr. Zheng resigned from his positions due to personal reasons. The company sincerely thanks Mr. Zheng for his contributions during his tenure.

(Edited by Cong Kexin)