Putailai shareholders approve name change, subsidiary guarantee increase

Shanghai Putailai New Energy Technology Co., Ltd. announced that its fourth extraordinary general meeting of shareholders for 2025, held on September 15, 2025, approved all proposed resolutions. These included a significant change to the company’s name and revisions to its articles of association, passing with 99.9595% of votes in favor. Shareholders also approved an increase in the guarantee limit for a wholly-owned subsidiary for 2025, with 97.9492% of votes supporting the proposal.

Further resolutions passed during the meeting included the "Remuneration and Assessment Management System for Directors and Senior Management" and the "Accountant Selection System," both receiving strong shareholder approval. The resolutions regarding the name change and the subsidiary guarantees were classified as special resolutions, requiring and successfully obtaining over two-thirds of the valid voting shares for approval.

King & Wood Mallesons, the legal firm overseeing the meeting, confirmed that the convening and conduct of the shareholders' meeting complied with relevant laws and regulations, and all procedures and outcomes were deemed legal and valid.