Oriental Ocean shareholders reject independent director election

Shandong Oriental Ocean Sci-Tech Co., Ltd. announced that its second extraordinary general meeting of shareholders in 2025, held on December 26, 2025, did not pass the proposal to elect Mr. Zhang Zhonghua as an independent director for the eighth board of directors. The resolution, which required more than 50% approval from effective voting shares, received 268,053,141 votes in favor (33.9024%), 363,107,163 votes against (45.9244%), and 159,501,985 abstentions (20.1732%).

The meeting saw 694 shareholders, representing 790,662,289 shares, or 40.3616% of the company's total voting shares. Among these, 692 small and medium-sized shareholders participated, representing 299,561,099 shares, or 15.2919% of the total voting shares. The meeting was conducted through a combination of on-site and online voting.

According to a legal opinion issued by Shandong Xintong Law Firm, the convocation and conduct of the meeting complied with relevant laws, regulations, and the company's articles of association.