Qifeng New Material shareholders approve profit distribution, guarantee changes

Qifeng New Material Co., Ltd. held its third extraordinary general meeting of shareholders for 2025 on September 8, 2025. The meeting, which included both on-site and online voting, saw participation from 124 shareholders, representing 36.4928% of the company's total voting shares. All proposals presented were approved without any being rejected, indicating strong shareholder consensus.

The first key resolution, concerning the 2025 half-year profit distribution plan, was approved with 99.8961% of valid votes. A smaller number of votes, 0.0691%, opposed the plan, with 0.0348% abstaining. The second resolution, regarding modifications to company and subsidiary guarantees, also passed with significant support, receiving 99.8708% of votes.

Minority shareholders showed similar approval for both resolutions. For the profit distribution plan, 90.7973% of minority shareholders voted in favor. For the guarantee modifications, 88.5616% of minority shareholders approved the proposal. Shanghai Jintiancheng (Qingdao) Law Firm confirmed the legality and validity of the meeting's procedures and resolutions.