GD Power proposes significant dividend plan and governance updates

GD Power Development Co., Ltd. has announced its agenda for the 2025 second extraordinary general meeting, highlighting key proposals including a cash dividend plan for 2025-2027 and a 2025 semi-annual profit distribution. The three-year cash dividend plan aims to distribute at least 60% of the company's annual net profit attributable to listed company shareholders, with a minimum payout of CNY 0.22 per share (tax inclusive) annually. For 2025, the company plans an interim dividend of CNY 0.10 per share (tax inclusive), totaling approximately CNY 1.784 bn, representing 48.38% of the unaudited net profit of CNY 3,686,597,723.51 for the first half of 2025.

The proposed revisions to the company's Articles of Association and related rules are based on the new "Company Law" effective July 1, 2024, and the "Guidance for Articles of Association of Listed Companies (2025 Revised Edition)". These revisions include perfecting general provisions, clarifying the legal representative and share issuance, enhancing shareholder and shareholder meeting systems, and establishing new sections for controlling shareholders and actual controllers.

Furthermore, the revisions will streamline the requirements for directors, the board of directors, and special committees, clarify the Audit Committee's statutory powers, and introduce a new section for independent directors. Significantly, the role of the Supervisory Board will be abolished, leading to the repeal of the "Supervisory Board Rules of Procedure". The board of directors also seeks authorization from the shareholders to handle all necessary change registration procedures related to these revisions.