Transfar Zhilian cuts capital, updates governance after share cancellation

Transfar Zhilian's first extraordinary general meeting of shareholders in 2025, held on October 10, 2025, approved several key proposals, including a reduction in registered capital and amendments to the company’s articles of association. These changes follow a decision to cancel repurchased shares, which will decrease the total share capital from 2,787,970,508 shares to 2,764,030,908 shares. Creditors have been notified and have 45 days from October 11, 2025, to declare their claims.

The meeting also ratified the 2025 interim profit distribution plan and approved revisions to various corporate governance documents. These include updated rules for shareholder and board meetings, a new independent director work system, revised cumulative voting rules, and a refined fundraising management system. Policies on external guarantees and related party transactions were also updated.

The resolutions were supported by a significant majority of shareholders, with 99.8976% voting in favor of the capital reduction and 99.8730% for the profit distribution. The company's board also re-elected Mr. Zhou Jiahai as the representative director for company affairs and the legal representative, ensuring continuity in leadership.