Group 1 - The company has approved an internal director compensation plan, which requires shareholder meeting approval [1][8] - The plan applies to full-time directors who have signed labor contracts and are responsible for executing company affairs [1][2] - The annual salary for internal directors is set at 800,000 yuan, with performance-based compensation making up at least 50% of the total [3][4] Group 2 - Performance compensation will be distributed monthly with quarterly settlements, where 25% of the performance pay is settled each quarter based on assessment results [4][5] - The compensation committee is responsible for establishing and modifying assessment standards for internal directors [6] - The compensation is pre-tax, with the company responsible for withholding personal income tax and other applicable fees [7] Group 3 - The company has also approved a capital reduction for its wholly-owned subsidiary, Saint Asia Cultural Tourism Industry Group, reducing registered capital by 32.3749 million yuan [27][30] - Following the reduction, the subsidiary's registered capital will decrease from 100 million yuan to 67.6251 million yuan, with the company retaining 100% ownership [30][32] - This capital reduction does not involve related transactions and will not significantly impact the company's financial status or operations [28][33] Group 4 - The company has approved changes to its registered capital and amendments to its articles of association, increasing registered capital from 128.8 million yuan to 130.445 million yuan due to the issuance of restricted stock [37][38] - The amendments to the articles of association were authorized by the board and do not require shareholder approval [38][39] - The company will handle the necessary business registration changes as per the updated capital structure [38][39]

Core Viewpoint - The company plans to apply for a comprehensive financing limit and guarantee limit for the year 2026, with a total credit limit of up to RMB 1,400 billion and a guarantee limit of up to RMB 1,173 billion, aimed at supporting its operational and liquidity needs [2][6][12] Group 1: Financing and Guarantee Limits - The company intends to apply for a total credit limit of up to RMB 1,400 billion from financial institutions for 2026 [2][6] - The proposed external guarantee limit for 2026 is RMB 1,173 billion, with inter-company guarantees among subsidiaries not exceeding RMB 1,165 billion and guarantees for external entities not exceeding RMB 8 billion [2][6][10] - As of December 11, 2025, the company and its subsidiaries have an outstanding external guarantee balance of RMB 52.27 billion [3][14] Group 2: Guarantee Details - The guarantees will include financing guarantees and performance guarantees necessary for daily operations, with various types such as general guarantees and collateral guarantees [6][10] - The company will ensure that all guarantees are backed by counter-guarantees, and there are no overdue guarantees as of the reporting date [4][5] - The guarantee agreements are subject to approval by the company's shareholders' meeting [5][12] Group 3: Necessity and Reasonableness of Guarantees - The inter-company guarantees are deemed necessary to support the daily operations and business expansion of the company and its subsidiaries [10][31] - The company will monitor the financial status of the guaranteed entities and implement risk warning clauses to mitigate potential risks [11][31] - The board of directors has unanimously approved the financing and guarantee limits, asserting that the proposed measures align with the company's operational needs and do not harm shareholder interests [12][35]

Group 1 - The company held its 30th meeting of the fifth board of directors on November 25, 2025, to discuss various proposals [2][3] - The board approved the estimated daily related party transaction amount for 2026, not exceeding RMB 165.26 million (excluding tax) [3][21] - The board also approved changes to the registered capital and amendments to the company's articles of association due to the conversion of convertible bonds and the cancellation of certain restricted stocks [7][33] Group 2 - The company plans to hold its fifth extraordinary general meeting of shareholders on December 12, 2025, to discuss the approved proposals [17][39] - The meeting will include provisions for both on-site and online voting, with specific time frames for participation [39][51] - Shareholders must register to attend the meeting, with detailed instructions provided for both individual and corporate shareholders [48][49] Group 3 - The company has established a compensation management system for directors and senior management, which was also approved by the board [11][12] - Several governance documents, including the board nomination committee's working rules and the general manager's working rules, were revised to enhance corporate governance [14][16] - The independent directors and the audit committee reviewed and supported the proposals, ensuring compliance with market principles and protection of minority shareholders' interests [29][30]

Group 1 - The company held its 17th meeting of the 10th Board of Directors on October 13, 2025, with all 9 directors present, including 3 independent directors [2][4] - The meeting approved the proposal to cancel the Supervisory Board, change the registered capital, and amend the Articles of Association, which will be submitted to the first extraordinary general meeting of shareholders in 2025 for special resolution [3][58] - The registered capital will increase from 514,317,177 yuan to 514,348,244 yuan due to the conversion of convertible bonds during the conversion period [58] Group 2 - The company plans to revise several management systems in accordance with the latest legal requirements, with some revisions requiring approval from the shareholders' meeting [5][38] - The company approved the renewal of the accounting firm Rongcheng Certified Public Accountants for the 2025 audit, pending authorization from the shareholders' meeting [39][52] - The first extraordinary general meeting of shareholders in 2025 is scheduled for October 29, 2025 [43]

Meeting Details - The second temporary shareholders' meeting was held on September 22, 2025, at the company's conference room in Tongxiang, Zhejiang Province [2] - The meeting was convened by the board of directors and chaired by Chairman Shen Jianhua, utilizing a combination of on-site and online voting methods, complying with relevant laws and regulations [2][3] Attendance - All 9 current directors attended the meeting, along with the board secretary and several senior executives [3] Resolutions Passed - The following resolutions were approved: 1. Proposal for the repurchase and cancellation of certain restricted stocks [4] 2. Proposal to change registered capital and amend the company's articles of association [4] 3. Proposal to revise the independent director working system [5] 4. Proposal to amend the authorization management system [5] - The first two proposals were special resolutions requiring more than two-thirds approval from shareholders present, while the others were ordinary resolutions requiring a simple majority [5] Legal Verification - The meeting was witnessed by lawyers from Guohao Law Firm, confirming that the meeting's procedures and resolutions complied with relevant laws and regulations [6] Stock Repurchase Details - The company approved the repurchase and cancellation of 56,000 restricted stocks at a price of 3.51 yuan per share, reducing the registered capital from 730,297,443 yuan to 730,241,443 yuan [8] - Creditors have the right to claim debts or request guarantees within 30 days of receiving the notice, or within 45 days from the announcement date if no notice is received [8][9]

Group 1 - The company held its second extraordinary general meeting of shareholders on September 17, 2025, with no resolutions being rejected [2][3] - The total number of shares entitled to vote at the meeting was 75,389,323, after excluding repurchased shares [2] - The meeting was legally valid, with all procedures and voting methods complying with the Company Law and the company's articles of association [3][8] Group 2 - Three non-cumulative voting resolutions were passed: the cancellation of the terminated 2023 employee stock ownership plan, the shareholder return plan for 2025-2027, and the amendment of registered capital and company articles [5][6] - The resolutions required a two-thirds majority of the voting rights held by shareholders present at the meeting [6][7] Group 3 - The company announced the cancellation of 1,894,393 shares related to the terminated 2023 employee stock ownership plan, reducing the total share capital from 77,730,937 shares to 75,836,544 shares [10][12] - The registered capital will also decrease from 77,730,937 yuan to 75,836,544 yuan following the cancellation [12] Group 4 - Creditors are notified of the capital reduction and have 30 days from receiving the notice, or 45 days from the announcement date, to claim their debts [12][13] - Specific documentation is required for creditors to assert their claims, including contracts and identification [13][14]

Meeting Details - The third extraordinary general meeting of shareholders was held on September 15, 2025, at 14:00, with both on-site and online voting options available [3][4] - A total of 85 shareholders attended, representing 104,822,458 shares, which is 57.2680% of the total voting shares [4][5] Resolutions Passed - The following proposals were approved during the meeting: - The proposal to reappoint the accounting firm was passed with more than half of the voting rights [7] - The proposal to repurchase and cancel part of the restricted stock incentive plan was passed with over two-thirds of the voting rights [7] - The proposal to change the registered capital and amend the company’s articles of association was also passed with over two-thirds of the voting rights [8] Legal Opinions - The meeting was witnessed by Beijing Jiayuan Law Firm, and the legal representatives confirmed that the meeting's procedures and voting results were in compliance with relevant laws and regulations [8] Capital Reduction Announcement - The company announced a capital reduction due to the repurchase and cancellation of 8,000 restricted stocks, resulting in a decrease in total shares from 183,038,400 to 183,030,400 [11] - The registered capital will be adjusted from RMB 183,038,400 to RMB 183,030,400 following the repurchase [11] Notification to Creditors - Creditors are notified that they have 45 days from the announcement date to request debt repayment or guarantees due to the capital reduction [12]

Meeting and Attendance - The meeting was held in accordance with the Company Law and relevant regulations [1] - A total of 3 supervisors were supposed to attend, with all 3 present or represented by proxy [1] Proposal Review - The proposal to abolish the supervisory board, change the registered capital, and amend the Articles of Association was approved [1][2] - The registered capital will change from RMB 63 million to RMB 82 million, and the total number of shares will also be adjusted accordingly [2] - The proposal to abolish the "Supervisory Meeting Rules" was also approved, as the supervisory board's functions will be transferred to the audit committee of the board of directors [2]

Meeting and Attendance - The meeting was convened in accordance with relevant laws and regulations, including the Company Law of the People's Republic of China [1] - A total of 3 supervisors were supposed to attend, with all 3 present either in person or via communication due to work reasons [1] Proposal Review - The proposal to cancel the supervisory board, change registered capital, and amend the Articles of Association was approved. The supervisory board's powers will be transferred to the audit committee of the board of directors [1] - The registered capital was adjusted from 64,694,700 yuan to 79,474,700 yuan following the completion of the public issuance of shares to unspecified qualified investors [1] - The company plans to amend relevant provisions in the Articles of Association and seek authorization from the shareholders' meeting for related business registration changes [1] Additional Proposals - The proposal to abolish the "Supervisory Board Meeting Rules" was also approved, as the supervisory board will no longer be established, and its powers will be exercised by the audit committee of the board [2] - This proposal does not involve related party transactions and does not require avoidance of voting [2]

Group 1 - The company held its 36th meeting of the third board of directors on September 1, 2025, with all 9 directors present, including independent directors attending via communication [1] - The board approved a proposal to change the purpose of repurchased shares from employee stock ownership plans to cancellation and reduction of registered capital, with a unanimous vote of 9 in favor [2] - The proposal to change the registered capital and amend the company's articles of association was also approved, with the same unanimous vote [2] Group 2 - The company plans to submit the proposals for approval at the first extraordinary general meeting of shareholders in 2025 [3]