China South City shareholders approve resolution despite liquidation status

China South City Holdings Limited (In Liquidation) announced that shareholders approved ordinary resolution 1(a) at an extraordinary general meeting (EGM) held on November 19, 2025. This resolution concerned transactions under the Property Management Services Framework Agreement, including its annual caps. A total of 2,332,712,677 votes (78.503003%) were cast in favor, with 638,782,155 votes (21.496997%) against.

The company's shares have been suspended from trading on the Stock Exchange since August 11, 2025, and will remain suspended. This follows a winding-up order by the High Court of Hong Kong SAR on the same date, which also led to the appointment of Mr. Chow Wai Shing Daniel and Mr. Pan Lu Yang as joint and several liquidators, and the suspension of directors' powers.

Consequently, ordinary resolution 1(b) in the EGM notice, which sought shareholder approval for directors' authority regarding the framework agreement, was withdrawn. SZCDG, a substantial shareholder holding 3,350,000,000 shares (approximately 29.28% of shares in issue), abstained from voting as required by Listing Rules.