Quzhou Xinan shareholders approve subsidiary guarantee limit

Quzhou Xinan Development Co., Ltd. announced the resolutions from its third extraordinary general meeting of shareholders in 2025, held on September 15, 2025, in Hangzhou. The "Proposal on Estimated Guarantee Limit for Subsidiaries" was approved with no dissenting votes. The total number of shares with voting rights held by attending shareholders was 5,394,440,249, representing 63.3973% of the company's total shares with voting rights.

The resolution regarding the guarantee limit for subsidiaries passed with an overwhelming majority. A-shareholders cast 5,272,370,425 votes in favor (97.7371%), with 118,571,163 votes against (2.1980%) and 3,498,661 abstentions (0.0649%). For shareholders holding less than 5% of the shares, 415,615,459 votes were in favor (77.2972%), 118,571,163 votes against (22.0521%), and 3,498,661 abstentions (0.6507%).

The meeting was chaired by Fu Yamin, chairman of the board. The company's legal counsel, GuoHao Law Firm (Hangzhou), confirmed that the meeting's procedures, qualifications of attendees, and voting results comply with relevant laws, regulations, and the company's articles of association, affirming the validity and legality of the resolutions passed.