Yimutian Inc. Announces Resignation of Independent Director

Rhea-AI Summary

Yimutian (NASDAQ: YMT) announced that independent director Junchen Sun resigned from the Board, effective March 17, 2026, citing personal reasons.

The Board thanked Mr. Sun for his service. The Nominating and Corporate Governance Committee will oversee a potential replacement and the company will make disclosures in accordance with SEC and Nasdaq rules.

News Market Reaction – YMT

-35.80%

52 alerts

-35.80% Session close to close

+15.5% Peak Tracked

-38.4% Trough Tracked

$37.73M Market Cap

0.4x Rel. Volume

In the Mar 25 session, YMT declined 35.80%, reflecting a significant negative market reaction. Argus tracked a peak move of +15.5% during that session. Argus tracked a trough of -38.4% from its starting point during tracking. Our momentum scanner triggered 52 alerts that day, indicating high trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

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BEIJING, March 25, 2026 (GLOBE NEWSWIRE) -- Yimutian Inc. (NASDAQ: YMT) (the “Company”) announced that Junchen Sun, an independent director of the Company’s Board of Directors, has resigned from the Board, effective March 17, 2026.

Mr. Sun’s decision to resign is due to personal reasons. The Company and the Board would like to thank Mr. Sun for his service and contributions to the Company during his tenure on the Board.

The Nominating and Corporate Governance Committee of the Board will oversee the process for identifying a potential replacement, and the Company will make appropriate disclosures in accordance with applicable law and the rules of the U.S. Securities and Exchange Commission and the listing standards of Nasdaq.

About Yimutian Inc.
Yimutian Inc, is a leading agricultural B2B platform in mainland China. Over a decade, the company has been dedicated to digitalizing China’s agricultural product supply chain infrastructure to streamline the agricultural product transaction process, and making it efficient, transparent, secure, and convenient.For more information, please visit https://ir.ymt.com/

Forward-Looking Statements
This press release contains forward-looking statements. These statements are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, these forward-looking statements can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to,” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor & Media Contacts
Investor Relations: ir@ymt360.com  |  +86 10 5708 6561
Media: pr@ymt360.com

FAQ

What did Yimutian (NASDAQ: YMT) announce about Junchen Sun on March 25, 2026?

Junchen Sun resigned as an independent director effective March 17, 2026, citing personal reasons. According to the company, the Board thanked Mr. Sun for his service and the Nominating and Corporate Governance Committee will lead the search for a potential replacement.

Why did Junchen Sun resign from Yimutian's board of directors?

Mr. Sun resigned for personal reasons and left the Board effective March 17, 2026. According to the company, no further details were provided and the Board expressed gratitude for his contributions during his tenure.

Who will handle finding a replacement director for Yimutian (YMT)?

The Nominating and Corporate Governance Committee will oversee identifying a potential replacement director. According to the company, that committee will manage the search and the company will disclose any appointment per SEC and Nasdaq rules.

When will Yimutian disclose details about a new director for YMT?

The company will make appropriate disclosures as required by SEC and Nasdaq rules when a replacement is identified. According to the company, any appointment or material update will be announced in line with applicable disclosure obligations.

Does Junchen Sun's resignation change Yimutian's board composition or governance practices?

The resignation reduces the number of independent directors until a replacement is named. According to the company, the Board and its Nominating and Corporate Governance Committee will oversee the replacement process to maintain governance standards.