Zhongnongfa Seed shareholders approve governance changes, A-share issuance plan

Zhongnongfa Seed Industry Group's shareholders, during their second extraordinary general meeting of 2025 on September 29, 2025, approved a series of significant proposals. Among the resolutions passed was the cancellation of the supervisory board and amendments to the company's articles of association, with 98.7881% of votes in favor. Revisions to the rules of procedure for both the general meeting of shareholders and the board of directors also received overwhelming approval.

A comprehensive plan for a targeted issuance of A-shares in 2025 was also approved, covering aspects such as the type and par value of shares, issuance method and timing, target subscribers, pricing, number of shares, and use of raised funds. The proposal for the targeted A-share issuance received 95.7291% approval. Related resolutions, including the feasibility analysis report for capital utilization, risk warnings regarding dilution of immediate returns, and a conditional share subscription agreement, were also passed.

Shareholders also sanctioned the three-year (2025-2027) dividend distribution plan and authorized the board of directors to handle all matters related to the targeted A-share issuance. Key stakeholders abstained from voting on resolutions involving related-party transactions, as confirmed by Beijing Tianda & Gonghe Law Firm, which validated the meeting's compliance with legal and regulatory procedures.