Shanghai Wanye shareholders approve major governance and operational changes

Shanghai Wanye Enterprises Co., Ltd. (SSE:600641) held its second extraordinary general meeting of shareholders for 2025 on October 15, 2025, where all proposed resolutions were passed. Chairman Zhu Shihui presided over the meeting, attended by 599 shareholders and proxies representing 341,084,591 voting shares, or 37.4377% of the company's total voting shares (after deducting repurchased shares).

Key resolutions included the proposed change of the company name, business scope, and amendments to the Articles of Association, which passed with 99.9446% of votes for A shares. The proposal to abolish the Supervisory Board and revise the Articles of Association also passed with strong support. Additionally, several revisions to the company's management systems, such as the Shareholder Meeting Rules, Board of Directors Meeting Rules, Independent Director System, Related Party Transaction Management System, External Guarantee Management System, External Investment Management System, and Capital Raising Management System, were approved by shareholders.

Mr. Yu Xun was elected as an independent director to the twelfth Board of Directors, securing 97.5601% of the valid votes from attending shareholders. All proposals, including those requiring special resolutions, received the necessary majority or two-thirds approval, as verified by Grandall Law Firm (Shanghai).