华设集团陷中小股东话语权之争

Core Viewpoint - Hangzhou Zhongyikun, a shareholder with 3.001% stake in Huasheng Design Group, is seeking to collect voting rights from all shareholders to oppose amendments to the company's articles of association, particularly regarding the cumulative voting system [1][2]. Group 1: Shareholder Actions - Hangzhou Zhongyikun plans to gather voting rights from January 7 to January 12, 2026, to oppose all proposals at the upcoming shareholder meeting [2]. - The conflict stems from a failed proposal to nominate a director by Hangzhou Zhongyikun, which received only 11.83% approval at the last shareholder meeting [3]. Group 2: Governance and Voting Rights - The proposed amendment to the articles of association changes the conditions under which cumulative voting is applied, limiting it to situations where a single shareholder holds 30% or more of the shares [4]. - Hangzhou Zhongyikun argues that this change will hinder minority shareholders' ability to participate in governance, potentially leading to an imbalance in the company's governance structure [4]. Group 3: Company Response - Huasheng Group's board believes that the proposed changes do not deprive shareholder rights, as shareholders with over 1% still retain the right to propose and vote on matters [4]. - The board emphasizes the need for diverse professional expertise in governance and aims to enhance the company's development through qualified board members [4][6]. Group 4: Legal and Structural Considerations - Legal experts note that while a 3% shareholder can legally collect voting rights, the success of this initiative depends on the support from securities service institutions for streamlined authorization processes [5]. - The company’s ownership structure is characterized by significant fragmentation, with the top three shareholders holding only about 11% of the shares, complicating governance dynamics [5][6].