Huamao Technology shareholders approve major asset restructuring and fundraising

Huamao (Xiamen) New Materials Technology Co., Ltd. announced that its third extraordinary general meeting of shareholders in 2025, held on October 17, 2025, passed all 24 resolutions. A total of 274 shareholders and proxies, representing 80,535,822 shares or 27.1782% of the company's total voting shares, participated. Key resolutions included the issuance of shares and cash payment for asset acquisition, coupled with a private placement for supporting funds, as well as the overall transaction plan and related agreements.

The resolutions, including various aspects of the transaction such as pricing, payment methods, share lock-up periods, and performance compensation arrangements, were overwhelmingly approved. For instance, the resolution on the company's issuance of shares and cash payment for asset acquisition and fundraising received 31,094,932 votes in favor (99.3208%). All resolutions requiring a special majority passed with over two-thirds of the voting rights held by attending shareholders.

Additionally, the meeting approved Huamao Technology's compliance with regulations regarding major asset restructuring and related party transactions, and addressed the independence of valuation agencies and the fairness of pricing. The shareholders also authorized the board of directors to handle matters related to this transaction.