• Shanghai Zhida issued a supplemental clarification to its 2025 annual report on conflicts of interest with controlling shareholders.
• Independent non-executive directors concluded no conflict existed from the listing date through Dec. 31, 2025.
• Review cited Dr. Huang Zhiming’s confirmation of no competing business interests by him or associates during the reporting period.
• Board also noted no connected transactions with controlling shareholders, except Dr. Huang’s director service contract.

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