CNGR(SZ:300919) Shang Hai Zheng Quan Bao·2025-05-20 21:47Meeting Details - The second board meeting of Zhongwei New Materials Co., Ltd. was held on May 20, 2025, with all nine directors present, making the meeting valid [2] - The meeting was chaired by Chairman Deng Weiming and complied with the Company Law and Articles of Association [2] Resolutions Passed - The board unanimously approved the proposal to change the internal audit leader, appointing Yi Kun as the new internal audit head following the resignation of Dai Zufu [5][21] - The board also approved a financial assistance proposal to provide up to $2.3 million to its subsidiaries, PT HengSheng New Energy Material Indonesia and PT Stardust Estate Investment, to support their project developments [5][24] - A resolution was passed to convene the fifth extraordinary general meeting of shareholders on June 5, 2025, to discuss the financial assistance proposal [9][45] Financial Assistance Details - The company plans to provide up to $1.8 million to PT HengSheng at a maximum interest rate of 10% and up to $500,000 to PT SEI at a maximum interest rate of 7%, both with a loan term not exceeding one year [26][28] - The financial assistance is intended to facilitate the normal operations of the subsidiaries and enhance the company's integrated supply chain layout [28][37] - The financial assistance proposal has been reviewed and approved by both the board and the supervisory committee, pending approval from the shareholders' meeting [29][38] Shareholder Meeting Information - The fifth extraordinary general meeting will be held in Changsha, Hunan Province, combining on-site and online voting [45] - The meeting will address the financial assistance proposal and requires a majority vote from attending shareholders to pass [49]