Ninestar approves major asset sale at shareholder meeting

Ninestar Corporation (SZSE:002180) announced the successful passage of all resolutions at its first extraordinary general meeting of shareholders for 2025, held on June 20, 2025. A key agenda item was the approval of resolutions pertaining to a major asset sale. Shareholders representing 63.77% of the company's shares were present, either in person or via online voting. All resolutions related to the asset sale, including its terms, structure, valuation, and related agreements, were approved with over 99.7% of the votes cast in favor. The meeting also authorized the board of directors to fully manage all matters related to the asset sale. The legal opinion provided by King & Wood Mallesons (Guangzhou) confirmed that the meeting's procedures and resolutions were compliant with relevant laws and regulations.