Hongda shareholders to vote on capital boost, governance changes

Sichuan Hongda Co., Ltd. announced its upcoming seventh extraordinary general meeting for December 3, 2025, to approve several crucial proposals. The company plans to increase its registered capital from CNY 2.032 bn to CNY 2.6416 bn following a recent stock issuance of 609.6 m shares to its controlling shareholder.

A key agenda item includes revising the Company Articles of Association and abolishing the Board of Supervisors, with the Audit Committee of the Board of Directors set to assume the supervisors' responsibilities. This move aims to streamline corporate governance in line with updated company law and securities regulations. Shareholders will also vote on re-appointing Sichuan Huaxin (Group) Certified Public Accountants (Special General Partnership) as the company’s 2025 financial and internal control audit institution, with audit fees totaling CNY 120 m and internal control audit fees of CNY 30 m.

Other proposals include revisions to the company's Shareholder Meeting Rules and Board of Directors Meeting Rules. The meeting will incorporate both in-person attendance and online voting mechanisms to facilitate broad shareholder participation.