Shanghai Hugong Electric Group Co., Ltd. – Board‑Meeting Outcomes and Auditor Renewal
Meeting Overview
On 28 November 2025, the company’s 5th Board of Directors held its 11th meeting. The meeting was convened in accordance with the company’s bylaws and relevant laws, and notice was sent by email and WeChat on 28 November. The board convened on 3 December 2025 at the company’s meeting room, using a hybrid format that combined in‑person and tele‑conference participation. All seven directors attended, including two who voted by tele‑conference. The session was chaired by Chairman Shu Zhenyu. The company’s supervisor and senior executives were present as observers.
Key Resolutions
| Item | Resolution | Voting Result |
|---|---|---|
| Renewal of the audit firm | Approval of the appointment of the same accounting‑firm for the next audit period | 7‑0‑0 (7 votes in favour, 0 opposed, 0 abstentions) |
| Amendments to governance rules | A series of 15 governance‑related rules were adopted, covering: • Board strategic‑committee procedures • Nomination‑committee procedures • Audit‑committee procedures • Compensation‑and‑performance‑committee procedures • Investor‑relations management • External‑information‑user management • Insider‑information‑registrant management • Information‑disclosure management • Information‑disclosure‑delay and exemption management • Board‑secretary working regulations • Material‑information internal reporting • Independent‑director special‑meeting working regulations • Asset‑impairment‑provision calculation and write‑off management • Fund‑raising‑use‑management • General‑manager working regulations • Subsidiary‑management | 7‑0‑0 for each rule |
All the amendments were approved unanimously by the board and subsequently forwarded to the shareholders for approval at the forthcoming general meeting.
Additional Actions
- The board endorsed a proposal to continue the engagement of the current external auditor. The audit‑committee approved the proposal and the board passed the resolution, which will be presented to shareholders.
- A comprehensive set of governance‑system updates was adopted, aimed at strengthening information‑disclosure transparency, insider‑information handling, and internal reporting of material information.
Implications for Investors
- The renewal of the audit firm signals management’s confidence in the firm’s performance and the stability of external audit quality.
- The broad governance amendments reflect an effort to enhance corporate governance, risk management, and regulatory compliance. These measures are expected to improve investor confidence and facilitate future capital‑raising activities.
The company will disclose the outcome of the shareholders’ vote at the next annual general meeting. Until that point, the resolutions remain in force under the board’s authority.
