According to the China Securities Network of Shanghai Securities News, on November 13, WBEC held the second extraordinary shareholders' meeting in 2023, and elected the fourth board of directors and the non-employee representative supervisors of the fourth board of supervisors. On the same day, a staff representative meeting was held to elect the employee representative supervisors of the fourth board of supervisors. Since then, the company's fourth board of directors and board of supervisors have been established, with a term of three years each.

Subsequently, the Company held the first meeting of the fourth session of the Board of Directors to elect the Chairman of the fourth session of the Board of Directors of the Company, the members and chairmen of the specialized committees of the Board of Directors, and to appoint the senior management and the representative of securities affairs. At the same time, the first meeting of the fourth session of the Supervisory Committee was held to elect the Chairman of the fourth session of the Supervisory Committee of the Company.

According to the election, the meeting adopted the cumulative voting system to elect Yang Zemin, Hu Shoutian, Yang Lin, Fu Kang, Wang Haibo and Pi Tongzheng as the non-independent directors of the fourth session of the Board of Directors of the Company, and Zhao Yu, Shen Jiang and Wang Yong as the independent directors of the fourth session of the Board of Directors, and the above nine directors together constitute the fourth session of the Board of Directors of the Company. All directors unanimously agreed to elect Yang Zemin as the Chairman of the fourth session of the Board of Directors of the Company, and accordingly elected the members and chairmen of the specialized committees of the fourth session of the Board of Directors. Li Changping and Zhang Ling were elected as non-employee representative supervisors of the fourth session of the Supervisory Committee of the Company. The aforesaid two non-employee representative supervisors and Zhu Lin, the employee representative supervisor elected by the staff congress of the Company, together constitute the fourth session of the Supervisory Committee of the Company. All Supervisors unanimously agreed to elect Li Changping as the Chairman of the fourth session of the Supervisory Committee of the Company.

　It is worth noting that after the election, except for the company's actual controller Yang Zemin who continues to serve as chairman, the rest of the board members, including three independent directors, have changed; two of the three supervisors have also changed, and the new team members are younger and more professional.

The company's board of directors also reviewed and approved the "Proposal on the Appointment of Senior Management of the Company", agreeing to appoint Yang Zemin as the company's general manager, agreeing to appoint Yang Lin, Hu Shoutian, Xiao Yonghao, Liu Bolin, Wang Haibo and Li Daiping as the company's deputy general managers, agreeing to appoint Li Daiping as the company’s board secretary, appointing Yang Wanhua as the company’s financial director, and appointing Lei Wenyi as the company's securities affairs representative.