After being postponed for several months, the new term of the board of directors of Pioneer New Materials officially began in July. Due to the fact that Pioneer New Materials shareholders have scattered shares, and there are no controlling shareholders or actual controllers, this board election is also viewed by some investors as a window for changes in control of listed companies. After disclosing the general election announcement on July 2, Pioneer New Materials received an interim proposal from Chen Linqing and another shareholder. The former nominated two non-independent directors and an independent director, while the latter nominated an independent director. According to Pioneer New Materials's announcement, the new board of directors will also continue the previous structure of 3 non-independent directors and 2 independent directors. However, on the evening of July 7, Pioneer New Materials issued an announcement stating that due to insufficient information submitted by the two shareholders and the relevant personnel had not yet made up the missing content, the board of directors resolved not to submit the shareholders' temporary proposal to the shareholders' meeting for consideration. “The board of directors of the company is unable to provide the shareholders' meeting with all the information or explanations necessary to enable the shareholders to make a reasonable judgment on the matter under discussion.” According to Pioneer New Materials. Chen Linqing recently told reporters that the two sides disagree on procedures and material requirements as to whether the above bill will be applied. The reporter also exclusively learned that the two non-independent directors nominated by Chen Linqing this time are executives of Beijing Orbital Chenguang Technology Co., Ltd., a star enterprise in the commercial aerospace field.

After being postponed for several months, the new term of the board of directors of Pioneer New Materials officially began in July. Due to the fact that Pioneer New Materials shareholders have scattered shares, and there are no controlling shareholders or actual controllers, this board election is also viewed by some investors as a window for changes in control of listed companies. After disclosing the general election announcement on July 2, Pioneer New Materials received an interim proposal from Chen Linqing and another shareholder. The former nominated two non-independent directors and an independent director, while the latter nominated an independent director. According to Pioneer New Materials's announcement, the new board of directors will also continue the previous structure of 3 non-independent directors and 2 independent directors. However, on the evening of July 7, Pioneer New Materials issued an announcement stating that due to insufficient information submitted by the two shareholders and the relevant personnel had not yet made up the missing content, the board of directors resolved not to submit the shareholders' temporary proposal to the shareholders' meeting for consideration. “The board of directors of the company is unable to provide the shareholders' meeting with all the information or explanations necessary to enable the shareholders to make a reasonable judgment on the matter under discussion.” According to Pioneer New Materials. Chen Linqing recently told reporters that the two sides disagree on procedures and material requirements as to whether the above bill will be applied. The reporter also exclusively learned that the two non-independent directors nominated by Chen Linqing this time are executives of Beijing Orbital Chenguang Technology Co., Ltd., a star enterprise in the commercial aerospace field.