Tongkun group shareholders approve corporate governance overhaul

Tongkun Group Co., Ltd. held its second extraordinary general meeting of shareholders for 2025 on November 20, 2025, at its headquarters in Tongxiang City, Zhejiang Province. The meeting, proposed by the board of directors and chaired by chairman Chen Lei, saw 383 shareholders and proxies attend, representing 1,077,822,301 voting shares, or 45.2191% of the company's total voting shares.

The sole agenda item, "Proposal on abolishing the supervisory board, amending the articles of association, and revising and formulating relevant systems," was approved. The voting results showed 1,068,082,640 shares (99.0963%) in favor, 9,686,940 shares (0.8987%) against, and 52,721 shares (0.0050%) abstaining. This resolution, requiring a two-thirds majority, passed with the support of participating shareholders.

According to the legal opinion issued by Beijing Jingtian & Gongcheng Law Firm, the convocation, convening procedures, and qualification of attendees for the general meeting complied with relevant Chinese laws, regulations, and Tongkun Group's articles of association. The law firm confirmed the validity and legality of the voting process and its results.