YOFC(601869) Zheng Quan Zhi Xing·2025-03-28 14:42Core Points - The board of directors of Changfei Optical Fiber Co., Ltd. held its 12th meeting of the 4th session on March 28, 2025, where several key resolutions were passed [1][2][3][4][5][6][7][8][9][10][11] Summary by Categories Board Reports and Financial Statements - The board approved the 2024 Annual Board Report, the 2024 Annual Independent Director Work Report, and the 2024 Annual President Work Report, all receiving unanimous approval [1][2][3] - The board also approved the 2024 Annual Report and Summary, as well as the financial statements prepared according to international accounting standards, both of which will be submitted for shareholder approval [3][4] Profit Distribution and Financial Policies - The company proposed a profit distribution plan to distribute a cash dividend of RMB 2.68 per 10 shares (including tax), which represents approximately 30.05% of the net profit attributable to ordinary shareholders for 2024 [4] - The board approved a change in accounting policies and the 2024 Annual Financial Settlement Report, both requiring shareholder approval [4][5] Organizational and Operational Changes - The board approved a proposal to optimize the organizational structure to enhance operational efficiency and customer response speed [4][5] - A resolution was passed to establish a wholly-owned subsidiary in Singapore focused on the research and sales of hollow-core fiber technology, capitalizing on the growing demand for AI infrastructure [6][7] Shareholder Engagement and Employee Incentives - The board approved a 2025 Employee Stock Ownership Plan (ESOP) to enhance employee engagement and retention, which will be submitted for shareholder approval [8][9][10] - A resolution was passed to repurchase shares for the implementation of the ESOP, with a budget of between RMB 160 million and RMB 320 million [10][11] External Partnerships and Financial Activities - The board approved a proposal to acquire a controlling stake in the subsidiary of Italian company EL.EN. S.p.A., which will be disclosed in further announcements [6][7] - The company plans to engage in foreign exchange and raw material hedging transactions with a maximum guarantee amount of RMB 200 million [5][6]