Desay SV Automotive extends share issuance resolutions validity

Huizhou Desay SV Automotive Co., Ltd. held its fourth extraordinary general meeting in 2024 on September 24, 2024, where resolutions for the issuance of shares to specific targets and related authorization for the board of directors were approved. Initially, these resolutions and authorizations were valid for 12 months, from September 24, 2024, to September 23, 2025.

In light of the China Securities Regulatory Commission's (CSRC) approval for the registration of the share issuance on February 21, 2025, which is valid for 12 months from the approval date, the company's board of directors, during its thirteenth meeting of the fourth session on September 5, 2025, approved extending the validity periods. Both the shareholder meeting resolutions and the board's authorization for the share issuance will now be valid until February 20, 2026, aligning with the CSRC's approval deadline.

This extension aims to ensure the continuity and smooth progression of the share issuance process. All other aspects and details of the company's share issuance remain unchanged. The proposal has been reviewed and approved by the company's independent directors and now awaits approval from the general meeting of shareholders.