STAR LAKE SCIENCE(SH:600866) Sou Hu Cai Jing·2025-09-15 18:33Summary of Key Points Core Viewpoint - The company, Guangdong Zhaoqing Xinghuo Biotechnology Co., Ltd., has made significant decisions regarding its financial strategies and governance structure during its recent board and shareholder meetings, focusing on risk management and operational efficiency [2][3][4]. Group 1: Trading Information - As of September 15, 2025, Xinghuo Technology's stock closed at 7.57 yuan, down 0.66%, with a turnover rate of 1.42% and a trading volume of 178,200 shares, amounting to a total transaction value of 135 million yuan [1]. - On the same day, the net inflow of main funds was 9.03 million yuan, accounting for 6.68% of the total transaction value, while retail investors experienced a net outflow of 13.92 million yuan, representing 10.3% of the total transaction value [1][4]. Group 2: Board Meeting Resolutions - The company's board of directors held its 13th meeting on September 15, 2025, with all 9 directors present, where they approved the adjustment of corn futures hedging transactions and revisions to internal control systems, with unanimous support [2][3]. - The board also approved a series of amendments to the company's articles of association and governance rules, including the cancellation of the supervisory board and the establishment of a shareholder return plan for the next three years (2025-2027) [3][4]. Group 3: Shareholder Meeting Outcomes - The 2025 second extraordinary general meeting of shareholders was held on September 15, 2025, with 314 participants representing 862,318,154 shares, which is 51.9008% of the total share capital [3]. - All seven proposals presented at the meeting were approved, including the cancellation of the supervisory board and amendments to various governance rules, with the first three proposals requiring a two-thirds majority [3]. Group 4: Hedging Strategy Adjustments - The company announced adjustments to its corn futures hedging strategy, allowing for both on-exchange and off-exchange options trading, limited to option buying to mitigate operational risks from corn price fluctuations [3][4]. - The maximum margin for these transactions is set at 50 million yuan, corresponding to a contract value limit of 500 million yuan, funded by the company's own resources, with a trading period not exceeding 12 months [3].