Guangzhou Development shareholders approve bond, debt instrument issuance

Guangzhou Development Group Co., Ltd. held its first extraordinary general meeting of shareholders for 2025 on October 10, 2025. Chaired by chairman Cai Ruixiong, the meeting approved all proposed resolutions, including plans for issuing company bonds, medium-term notes, and ultra-short-term financing bills. All resolutions passed with more than 1/2 of the voting rights held by attending shareholders, who represented 75.3835% of total voting shares.

Key proposals regarding the issuance of company bonds, such as eligibility, face value, issuance size, pricing, interest rate determination, term, variety, repayment, and underwriting, all received significant shareholder support. Approval percentages for ordinary A-shares consistently exceeded 99.85%.

The meeting also granted the board of directors full authority to handle all matters related to the issuance of company bonds. The overall meeting proceedings, including convening, conducting, and voting procedures, were deemed lawful and effective by Guangzhou Jinpeng Law Firm.