BEIJING - SDIC Power Holdings Co., Ltd. (GDR: SDIC) announced the successful completion of its first Extraordinary General Meeting (EGM) of 2025 today, where shareholders voted in favor of the proposed estimated daily related-party transactions for the year. The meeting, held at the company's headquarters in Beijing, saw a turnout of 576 shareholders and representatives who collectively hold 22.9734% of the company's voting rights.
The EGM's proceedings adhered to the relevant laws and corporate regulations, confirming the legitimacy and effectiveness of the resolutions passed. The proposal on estimated daily related-party transactions received a significant majority of votes, with 97.2792% of A-share holders agreeing to the motion, 2.7172% objecting, and a negligible 0.0036% abstaining.
Beijing Tian Yuan Law Firm, serving as the legal witness for the EGM, validated the meeting's procedures and outcomes. The law firm confirmed that the meeting's convening, participant qualifications, proposal presentation, voting processes, and the final results were in compliance with the Company Law, Securities Law, and the Articles of Association, deeming the resolution lawful and effective.
The EGM's approval of the related-party transactions is a standard corporate procedure that requires the consensus of shareholders to ensure transparency and fairness in dealings with related entities. This approval is indicative of the shareholders' trust in the company's governance and strategic direction.
Today's announcement is based on a press release statement and reflects the events of the EGM as reported by the company.
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