WPG(SH:603956) Shang Hai Zheng Quan Bao·2025-10-24 20:15Core Viewpoint - Shanghai Weipai Ge Smart Water Co., Ltd. (hereinafter referred to as "the company") has announced its decision to absorb and merge its wholly-owned subsidiary, Shanghai Weiao Automation Technology Co., Ltd. (hereinafter referred to as "Weiao"), as part of its strategic development needs to optimize organizational structure and reduce management costs [16][17]. Financial Data - The third-quarter financial report for 2025 has been approved by the company's board of directors, confirming the accuracy and completeness of the financial information [10][30]. - The financial statements for the third quarter of 2025 are unaudited [3][4]. Shareholder Information - The company has confirmed that the merger does not constitute a related party transaction or a major asset restructuring as defined by the regulations [17][20]. - The decision to merge was made without the need for shareholder meeting approval, as it falls within the board's authority [17][23]. Merger Details - The merger will result in the cancellation of Weiao's independent legal status, with all assets, debts, and obligations being inherited by the company [16][19]. - The merger is expected to enhance resource allocation, streamline operations, and improve management efficiency, aligning with the company's development strategy [20]. Board Meeting - The fourth board meeting of the company was held on October 24, 2025, where the merger proposal was unanimously approved by all attending directors [9][10]. - The meeting was conducted in accordance with legal and regulatory requirements, ensuring the validity of the resolutions passed [9]. Management Changes - The company announced the resignation of director Chen Ping due to work adjustments, effective immediately upon delivery of the resignation notice [30][32]. - Wang Shizhuang has been elected as the employee representative director, with a term lasting until the current board's term ends [32][33].