Kehua Holdings(SH:603161) Zheng Quan Zhi Xing·2025-08-22 15:16Meeting Overview - The fourth meeting of the supervisory board of Kehua Holdings was convened and chaired by Ms. Chen Keting, with all three supervisors present, ensuring compliance with relevant laws and regulations [1][2]. Approval of Stock Issuance - The supervisory board approved the proposal for the company to issue shares to specific targets, which will be submitted to the shareholders' meeting for further review [2][3]. - The board confirmed that the company meets the conditions for issuing shares to specific targets as per the Company Law and Securities Law [2][3]. Details of the Stock Issuance - The plan involves issuing 30,000,000 A-shares, representing no more than 30% of the company's total share capital prior to the issuance [4][5]. - The issuance price is set at RMB 10.87 per share, which is not less than 80% of the average trading price over the 20 trading days prior to the pricing date [3][5]. Use of Proceeds - The total amount expected to be raised from this issuance is approximately RMB 326.1 million, which will be used to supplement the company's working capital after deducting issuance costs [5][8]. Lock-up Period - Shares issued to the specific targets will be subject to a lock-up period of 36 months from the date of listing [5][6]. Related Transactions - The issuance involves related party transactions, as the subscribers, Lu Hongping and Tu Han, are considered related parties [10][11]. - The supervisory board confirmed that the terms of the subscription agreement comply with relevant laws and do not harm the interests of the company or its shareholders [11][12]. Shareholder Approval - Several proposals, including the exemption from issuing a takeover offer by the subscribers, will require approval from the shareholders' meeting [12][13].