Huagong Tech shareholders approve governance reforms, subsidiary guarantees

Huagong Tech Co., Ltd. held its fourth extraordinary general meeting of shareholders for 2025 on December 17, 2025, with resolutions passed without any rejections. A total of 1,649 shareholders, representing 238,092,833 shares or 23.9120% of the company's total voting shares, participated.

Key proposals included the approval of "A Proposal to Cancel the Supervisory Board and Amend the Articles of Association," which received 95.1610% of votes in favor. Additionally, revisions to various corporate governance documents, such as the "Rules of Procedure for the Board of Directors," "Rules of Procedure for the General Meeting of Shareholders," "Independent Director Work System," "Related Party Transaction Management System," and "Investment Management System," were all approved with over 94% of votes in favor.

Shareholders also approved "A Proposal to Provide Guarantees for a Wholly-Owned Subsidiary" with 98.9352% of votes in favor. The meeting ensured separate vote counting for small and medium-sized investors to uphold their interests. The Beijing Jiayuan Law Firm confirmed that the meeting's convening, procedures, and resolutions were all legally compliant and valid.