Zhongfu Straits plans EGM amidst stock volatility

Zhongfu Straits Pingtan Development will convene its first extraordinary general meeting of shareholders for 2025 on November 20, 2025. Shareholders will vote on proposals including changes to the company's business scope, amendments to its articles of association, and revisions to several management systems. These proposals were approved by the eleventh board of directors on October 31, 2025.

This announcement coincides with a notification of abnormal stock fluctuations. The company's stock experienced a cumulative deviation of over 20% in closing price over two consecutive trading days on November 13 and 14, 2025, triggering a disclosure requirement from the Shenzhen Stock Exchange. The board confirmed no significant changes in its operational or external environment and no undisclosed major information impacting stock price.

Zhongfu Straits also reported recent progress in using idle funds for wealth management products. The cumulative amount of undisclosed funds used for these products has exceeded 10% of the company's latest audited net assets. The company invested in low-risk, high-liquidity bank wealth management products, with individual investments from 20m yuan to 130m yuan, and expected annualized returns generally between 1.00% and 1.70%.