Golden Solar navigates loss, board changes, mandates renewal

Golden Solar New Energy Technology Holdings (HKEX: 1121) faces a year of transition as reflected in its 2024 Annual Report, marked by a HKD 277.4 million loss, a board reshuffling, and a call for renewed operational mandates. While revenue dipped to HKD 253.5 million, the company aims to address losses by focusing on differentiated strategies for business-to-business solar products leveraging HBC technology. Key leadership changes include Mr. Kang Chuang's appointment as Chairman and executive Director, replacing Mr. Leung Tsz Chung. Shareholders are being asked to approve resolutions including the re-election of Dr. Zhang Baoping and Professor Zhao Jinbao as independent non-executive directors, alongside renewals of general mandates for share issuance and repurchases, designed to provide flexibility in capital management. These proposals aim to position Golden Solar for future growth and efficiency, despite current market headwinds and operational transitions.