Shuanghuan Driveline approves capital changes, independent director election

Zhejiang Shuanghuan Driveline held its third extraordinary general meeting of shareholders in 2025 on December 18, approving key resolutions including a change in registered capital and business scope, along with revisions to the company's articles of association. The resolution for capital and scope changes passed with 86.0916% of votes in favor. This meeting also saw the approval of several revised corporate governance policies, such as cumulative voting, online voting for shareholder meetings, fundraising management, related-party transaction management, investment decision-making, external guarantees, and the independent director work system.

Additionally, shareholders approved the election of an independent director to the seventh board of directors with 99.5832% of votes in favor. Concurrently, Mr. Jiang Yiqing, a non-independent director, resigned from his board position, effective immediately, due to internal work adjustments and to optimize the company’s governance structure. Mr. Jiang will continue in his role as deputy general manager.

Mr. Jiang holds 29,115,240 shares in the company and will adhere to regulations regarding shareholding and changes. The company will proceed to elect a staff representative director as per the revised articles of association.