Guangzhou Automobile Group shareholders approve bond issuance, capital changes

Guangzhou Automobile Group's third extraordinary general meeting of shareholders in 2025, held on September 29, 2025, saw the approval of all proposed resolutions. A total of 897 shareholders and proxies, representing 6,183,623,076 voting shares or 60.73% of total voting shares, participated.

Key approvals included the company's eligibility to issue corporate bonds and all related proposals concerning the bond issuance plan, such as issuance size, face value, interest rate, term, underwriting method, target subscribers, repayment methods, and use of proceeds. Similarly, the issuance of medium-term notes received full shareholder backing for all corresponding aspects. For example, the resolution on corporate bond issuance size passed with 99.8824% of votes in favor from common shareholders (6,176,350,209 votes).

Furthermore, shareholders approved the authorization for the board of directors and management to handle all matters related to the registration and issuance of company bonds and medium-term notes. The meeting also ratified changes to the company's registered capital and revisions to the articles of association, with 99.8827% of common shareholders voting in favor (6,176,368,690 votes), and modifications to the rules of procedure for shareholders' meetings and board of directors' meetings.