Tech firm approves stock issuance plan at shareholder meeting

Hangzhou Chang Chuan Technology successfully convened its first extraordinary general meeting of shareholders for 2025, approving a series of resolutions. The meeting, held on July 10, 2025, saw participation through both on-site and online voting.

Key resolutions passed include the approval of the company's eligibility for a targeted stock issuance and the overall plan for the issuance. Shareholders also approved the specific details, such as the stock type, issuance method, target subscribers, pricing, quantity, lock-up period, and the use of funds.

Additionally, the meeting approved proposals related to the company's pre-issuance retained earnings arrangement, listing location, capital usage and future shareholder return planning for the period of 2025-2027. A proposal to establish a dedicated account for raised funds was also ratified. The meeting was attended by a total of 585 shareholders and shareholder representatives, holding a total of 275,545,474 shares.