On April 13th, Zhenxin Technology (300101. SZ) announced that the company’s board of directors has decided not to submit an interim proposal to the controlling shareholder Chengdu Guoteng Electronics Group Co., Ltd. for review at the 2024 annual general meeting of shareholders. The temporary proposal involves increasing the number of board members and revising the company’s articles of association, but the proposal does not clearly determine the exact number of board members, and lacks internal resolution authorization from Guoteng Electronics Group, which does not comply with relevant regulations. Meanwhile, the proposal is clearly controversial and the timing and conditions are not yet ripe. In order to maintain the stability and development of the listed company, protect the interests of all shareholders, and avoid corporate governance risks, the board of directors has decided not to submit this temporary proposal.
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