Hwatsing Technology (SH:688120) Zheng Quan Zhi Xing·2025-05-13 10:42Core Viewpoint - The company is preparing for its 2024 Annual General Meeting (AGM) to discuss various proposals, including profit distribution, financial reports, and compensation plans for directors and supervisors, ensuring compliance with relevant laws and regulations [1][2][3]. Group 1: Meeting Procedures - The AGM will only allow attendance from shareholders, their proxies, company directors, supervisors, senior management, and invited legal representatives to maintain order and protect shareholder rights [1][2]. - Shareholders must sign in 30 minutes before the meeting and present necessary identification to receive meeting materials [2]. - The meeting will follow a predetermined agenda for reviewing and voting on proposals, with shareholders having the right to speak and ask questions [2][3]. Group 2: Proposals for Review - Proposal 1 involves the approval of the 2024 Annual Report and its summary, which has been prepared in accordance with legal requirements [5][6]. - Proposal 2 pertains to the 2024 Board of Directors' Work Report, emphasizing the board's diligence in promoting the company's stable development [7]. - Proposal 3 focuses on the 2024 Supervisory Board's Work Report, highlighting the board's commitment to safeguarding shareholder interests [8][9]. - Proposal 4 addresses the 2024 Financial Settlement Report, which has been audited and is intended to provide shareholders with a comprehensive understanding of the company's financial status [10]. Group 3: Profit Distribution and Capital Increase - Proposal 5 outlines the profit distribution plan for 2024, proposing a cash dividend of 5.50 yuan per 10 shares and a capital increase of 4.90 shares for every 10 shares held, based on a net profit of approximately 1.02 billion yuan [11][12]. - The total share capital will increase to approximately 352.47 million shares after the proposed distribution [11]. Group 4: Related Party Transactions - Proposal 6 discusses the confirmation of 2024 related party transactions and the expected transactions for 2025, which are necessary for the company's operations [13][14]. - The proposal includes details on the expected amounts and categories of transactions with related parties, ensuring compliance with market pricing principles [15][16]. Group 5: Compensation Plans - Proposal 7 addresses the confirmation of director compensation for 2024 and the proposed compensation plan for 2025, with non-independent directors receiving salaries based on their actual roles [24]. - Proposal 8 focuses on the compensation for supervisors, similar to the directors' compensation structure [25]. Group 6: Risk Management - Proposal 9 involves purchasing Directors, Supervisors, and Senior Management Liability Insurance to enhance the company's risk management framework [26][27].