Wanxiang Doneed to hold EGM on financial oversight and audit firm reappointment

Wanxiang Doneed Co. has scheduled its Second Extraordinary General Meeting (EGM) for 2025 on September 11, 2025, at 3:00 PM, in Hangzhou. The EGM will address two primary proposals: the ongoing risk assessment report for Wanxiang Finance Co., Ltd. and the reappointment of the company's financial and internal control audit firm for the 2025 fiscal year. Online voting will be available from September 10, 2025, 3:00 PM, to September 11, 2025, 3:00 PM.

The risk assessment report for Wanxiang Finance Co., Ltd. highlights that as of June 30, 2025, it reported total assets of yuan 2,688,102.42m and owner's equity of yuan 278,405.69m. For the first half of 2025, its operating revenue was yuan 14,131.72m, with a net profit of yuan 12,400.58m. Wanxiang Doneed's deposits with Wanxiang Finance Co., Ltd. amounted to yuan 21,673.95m as of June 30, 2025, with no outstanding loans. The report concludes that Wanxiang Finance Co., Ltd. maintains a sound internal control system and meets regulatory requirements, posing no current risk to Wanxiang Doneed.

Additionally, the EGM will consider the reappointment of Zhong Shen Zhong Huan Certified Public Accountants (Special General Partnership) as the company's auditor for 2025. The proposed total audit fee is yuan 700,000, with yuan 550,000 allocated for the annual financial audit and yuan 150,000 for the internal control audit, consistent with the previous year's fees. This reappointment has been reviewed and approved by the Tenth Board of Directors' Audit Committee and the Tenth Board of Directors.