Chacha Food reallocates funds, revises governance, adds new director

Chacha Food (SZSE:002557) held its second extraordinary general meeting of shareholders for 2025 on September 8, approving several key proposals. Shareholders voted to conclude and terminate certain fundraising projects, reallocating remaining funds to permanent working capital. This decision includes a commitment not to engage in securities investments or derivative trading for 12 months.

The meeting also saw significant updates to the company's governance, with the approval of revised articles of association and updated rules for shareholder meetings, board meetings, independent director appointments, fundraising management, related party transactions, external investments, and external guarantees. These changes, all passed as special resolutions, reflect a strategic move to refine internal controls and operational frameworks.

In related news, Chen Jun resigned as a director while retaining his roles as deputy general manager and board secretary due to governance adjustments. Concurrently, Ms. Zhang Tingting was elected as an employee representative director to the sixth board of directors, effective until its term expires on May 12, 2026. Ms. Zhang, holding no company shares, brings extensive experience from various leadership roles within Chacha Food.