SNC Net(SH:605398) Zheng Quan Zhi Xing·2025-09-05 10:17Core Points - The company is holding its second extraordinary general meeting of shareholders in 2025 to discuss significant changes, including the cancellation of the supervisory board and amendments to the company's articles of association [6][12][11]. Group 1: Meeting Procedures - The meeting will be conducted with a secretary responsible for the arrangement and order of proceedings [1]. - Shareholders and their proxies must arrive at the venue 30 minutes before the meeting to register and present necessary identification and documentation [2]. - Shareholders have the right to speak, inquire, and vote during the meeting, with specific procedures for registration and time limits for speeches [3][4]. Group 2: Key Proposals - The first proposal involves the cancellation of the supervisory board, with its responsibilities transferred to the audit committee of the board of directors [6][9]. - The second proposal is to provide a guarantee limit for the company's wholly-owned subsidiaries, with a total guarantee amount not exceeding RMB 100 million (approximately USD 14.1 million) for one subsidiary and RMB 60 million (approximately USD 8.5 million) for another [12][13]. Group 3: Voting and Legal Oversight - Voting will be conducted through a combination of on-site and online methods, with specific time slots designated for online voting [6][7]. - The company has appointed a lawyer to witness the meeting and provide a legal opinion on the proceedings [5][8]. Group 4: Financial and Operational Context - The company has not provided any guarantees to its subsidiaries to date, and the proposed guarantees are intended to support the subsidiaries' operational and financial needs [12][18]. - The company aims to enhance its governance structure and operational efficiency through these proposed changes, aligning with regulatory requirements [9][10].