OFILM recently released an announcement revealing that its Independent Director, Mi Xuming, has tendered his resignation from his roles as independent director, chairman of the board's audit committee, and member of the nomination committee, citing personal reasons. Upon his departure, he will relinquish all positions within the company. Originally, his tenure was slated to conclude at the end of the sixth board of directors' term.

While this resignation won't reduce the board's membership below the legally required minimum, it will cause the ratio of independent directors to dip below one-third of the total board members. Furthermore, there's a noticeable absence of accounting expertise among the remaining independent directors, and the setup of relevant specialized committees fails to comply with regulatory standards.

In accordance with pertinent regulations, Mi Xuming's resignation will only become effective once a new independent director is elected at the company's shareholders' meeting. Until then, Mi Xuming will persist in performing his duties as an independent director and as a member of the specialized committees, ensuring the seamless functioning of the board of directors and uninterrupted company operations.

As of the announcement's release, Mi Xuming holds no shares in the company, nor does he have any outstanding commitments. OFILM has expressed its intention to expedite the by-election process for a new independent director and ensure a smooth transition in line with its internal governance protocols.