Poly Developments to hold extraordinary general meeting on valuation plan

Poly Developments And Holdings Group (SSE:600048) will convene its first extraordinary general meeting of shareholders in 2025 on March 13th, to address key strategic initiatives including a valuation improvement plan. The meeting, to be held in Guangzhou and accessible via online voting, will address the election of company directors, a move explicitly addressing shareholder concerns. The agenda includes the approval of a proposed RMB 5 billion (approximately $700 million USD) offering of super short-term financing bonds to diversify its financing channels. This decision followed an assessment indicating that Poly Development shares have traded below the audited net asset value per share for an extended period. The measures are part of Poly Development's broader "Quality and Return Enhancement" initiative. Poly plans to boost returns through steady operations, improved efficiency, optimized capital structures, and consistent dividend payouts, including a planned mid-year distribution in 2025.