The Company Held the 2023 Annual General Meeting and 2024 First H Share Class Meeting
Shanghai Dazhong Public Utilities (Group) Co., Ltd. held the 2023 AGM and 2024 first H Share Class Meeting on the afternoon of June 18, 2024, through a combination of on-site and online meetings. A total of 29 shareholders and authorized representatives of A-shares and overseas-listed foreign shares attended the meeting, representing 735,472,088 shares.
The AGM and H Share Class Meeting were convened and held in compliance with the relevant laws, administrative regulations and rules, regulatory documents and the Articles of Association. The meetings conducted voting on the matters listed in the notice of the Shareholders' Meeting through a combination of on-site voting and online voting. The meetings has considered and approved the Work Report of the Board of Directors for the year 2023, Work Report of the Supervisory Committee for the year 2023, Final Financial Report for the year 2023 and Financial Budget Report for the year 2024 of the Company, Profit Distribution Proposal of the Company for the year 2023, Estimated Ordinary Related Party Transactions of the Company for the year 2024, Resolution on the Application for Bank Credit Facilities of the Company for the year 2024, Resolution on the Provision of Guarantee by the Company for Controlled Subsidiaries with respect to External Financing for the year 2024, Resolution on the Use of Idle Funds for Cash Management of the Company, Resolution on Amendment to the Articles of Association and Filing and Registration of Change, Resolution on Amendment to the Rules of Procedure of the General Meeting, Resolution on Amendment to the Rules of Procedure of the Board of Directors, Resolution on Amendment to the Rules of Procedure of the Supervisory Committee, Resolution on Revising the Rules and Regulations of Independent Non-executive Director, Resolution on Formulating Remuneration Management Policy for Directors, Supervisors and Senior Executives, Resolution on Remuneration Scheme for Directors and Senior Executives, Resolution on the Re-appointment of the Domestic Audit Firm and Internal Control Audit Firm of the Company for the year 2024, Resolution on the Re-appointment of the Overseas Audit Firm of the Company for the year 2024. The meeting also heard the 2023 annual independent director report. Lawyers from Shanghai Jin Mao Partners attended the AGM and H Share Class Meeting and issued legal opinion.
Chairman Yang Guoping presided over the meeting and led the managerial team to have a full exchange with the attending shareholders on the operational status in 2023 and the future development, risk prevention, dividend policy, and market value management. Mr. Yang Guoping stated that in 2024, facing the pressure of the domestic economic downturn, the Company will adhere to the business strategy of "seeking progress in stability, with stability as the main focus," and promote the steady growth and healthy development of the two main businesses of public utilities and financial venture capital. The Company will actively expand the investment and merger and acquisition opportunities of high-quality projects in the public utilities areas, continue to focus on the "cash flow and asset-liability ratio" as two red lines, continuously improve various safety systems, enhance the concept of risk control, and strengthen internal control.