Ming Yang Smart Energy shareholders approve key proposals

ZHONGSHAN CITY, China - Ming Yang Smart Energy Group Limited (GDR:MYSE) held its Annual General Meeting (AGM) on Wednesday, with shareholders approving all proposed resolutions, including the company’s financial reports and future plans.

The AGM, which took place in the company’s conference room in Zhongshan City, saw the attendance of 1,281 shareholders in person or by proxy, representing 35.2983% of the total voting shares. The board of directors, all company supervisors, and senior management were present, with three directors absent due to other commitments.

Shareholders voted on several key issues, including the approval of the Annual Work Report of the Board of Directors, Board of Supervisors, and Independent (LON:IOG) Directors for 2024. All resolutions passed with high affirmative votes, exceeding 99% for most items.

The Profit Distribution Plan for 2024 and the Shareholders’ Return Plan for the next three years (2024-2026) were also approved. Additionally, the meeting endorsed the remuneration proposals for non-independent and independent directors, as well as the Board of Supervisors for 2024.

A special resolution regarding the company’s estimated external guarantee quota for 2025 received approval, with 93.5054% affirmative votes. Minority shareholders separately voted on material items, including the Profit Distribution Plan and remuneration proposals, with these resolutions also passing with high approval rates.

One resolution that involved related shareholder abstention from voting, concerning the estimated amount of daily related party transactions for 2025, was approved. Connected shareholders, including high-level executives and several investment groups, abstained from this vote.

The AGM was attested by Zhong Lun Law Firm, with lawyers Zhou Yuxiang and Liang Hengyu confirming the legality and validity of the meeting’s procedures, attendee qualifications, voting processes, and results.

This information is based on a press release statement from Ming Yang Smart Energy Group Limited.

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