XINGYE WULIAN Service Group Co. Ltd. has issued a circular convening its 2026 Annual General Meeting for 10:00 a.m. on 5 June 2026 at Zhengzhou, Henan. Key items slated for shareholder vote include refreshed share issue and repurchase mandates and the re-election of three directors.
Key proposals
1. General mandate to issue new shares • Directors request authority to allot, issue or otherwise deal in up to 20% of the company’s issued share capital, equivalent to a maximum 80.00 million shares based on the current 400 million shares outstanding. • An extension mandate would allow the board to add to that limit any shares repurchased under the buy-back authority.
2. Share repurchase mandate • Authorises on-market repurchases of up to 10% of issued shares, capped at 40.00 million shares. • Repurchased shares may be cancelled or held as treasury shares, subject to compliance with Hong Kong and Cayman Islands regulations. • Full utilisation would raise the controlling shareholders’ aggregate stake from 56.59% to 62.88%, still above the 25% minimum public float requirement and below any threshold that would trigger a mandatory general offer under Hong Kong’s Takeovers Code.
3. Director re-elections • Executive Director and CEO Qiu Ming, Non-executive Director Liu Zhenqiang and Independent Non-executive Director Xu Chun will retire by rotation and seek re-election. The nomination committee supports their reappointment and has confirmed Xu Chun’s independence.
4. Other ordinary business • Adoption of the audited financial statements for the year ended 31 December 2025. • Re-appointment of Forvis Mazars CPA Limited as external auditor and authorisation for the board to fix its remuneration.
Administrative details
• Shareholders must lodge transfer documents by 4:30 p.m. on 29 May 2026 to qualify for attendance and voting. • Proxy forms are due by 10:00 a.m. on 3 June 2026. • All resolutions will be voted on by poll, with results published on the HKEX and company websites.
The board recommends shareholders vote in favour of all resolutions, stating the mandates will provide flexibility for capital management and support future business development.