Lashabel Will Remove Duan Xuefeng, Chairman Of The Board Of Directors

On the evening of December 21, Xinjiang lashabel Clothing Co., Ltd. (hereinafter referred to as: La Chapel) issued an announcement, and on December 18 received a proposal from Xing Jiaxing to remove Duan Xuefeng from the post of director (Chairman) of the Fourth Board of directors.

The proposal shows that Duan Xuefeng failed to perform his duties diligently and safeguard the interests of shareholders and the company during his tenure as director (Chairman), He failed to fulfill his duties and obligations as a director; he failed to thoroughly understand the operation and management of the company's business, resulting in a sharp decline in the company's performance during his term of office; he failed to set up a stable internal management organization to ensure the stable operation of the company; he operated businesses similar to that of the company on his own or for others.

To sum up, Duan Xuefeng violates the duty of loyalty and diligence stipulated in the company law of the people's Republic of China and the articles of association of Xinjiang lashabel Clothing Co., Ltd., and is not suitable to continue to serve as the director (Chairman) of the company.

Duan Xuefeng formally took office as director (Chairman) of La charbell in May this year.

It is worth noting that La charbell announced the resignation of president Zhang Danling on December 10, changing five presidents in a year. Netizens joked that "the president is like a walking lantern."