YOFC shareholders to vote on connected transactions, board changes

Yangtze Optical Fibre and Cable Joint Stock Limited Company (YOFC) will hold its 2025 Second Extraordinary General Meeting on December 5, 2025, to consider several key proposals. The agenda includes the renewal of continuing connected transactions with China Huaxin Group and Nokia Shanghai Group, along with proposed annual caps for 2026. For sales transactions with China Huaxin Group, a cap of RMB50,000,000 is proposed, while purchase transactions from China Huaxin Group are capped at RMB10,000,000. Additionally, purchase transactions from Nokia Shanghai Group are proposed to be capped at RMB20,000,000. These transactions are exempt from independent financial advice and shareholder approval under HKEX Listing Rules but require annual reporting.

The company also seeks approval for the estimated 2026 annual transaction amounts for related party transactions. Furthermore, the meeting will address the proposed appointment of Mr. Qiu Xiangping and Mr. Guan Jingzhi as non-executive directors and the abolishment of the supervisory board. The supervisory board's responsibilities will be transferred to the board's audit committee, necessitating amendments to the articles of association and other procedural rules.

Historical sales to China Huaxin Group were RMB25,609,000 in 2023, RMB29,626,000 in 2024, and RMB22,987,000 for the nine months ended September 30, 2025. Purchases from Nokia Shanghai Group were RMB18,528,000 in 2023, RMB6,303,000 in 2024, and RMB8,828,000 for the nine months ended September 30, 2025.