Core Viewpoint - Tianmao Group is unable to hold the 2024 annual shareholders' meeting within the stipulated timeframe due to incomplete preparation of the annual report, which may lead to significant regulatory consequences [1][2]. Group 1: Reasons for Inability to Hold the Meeting - The company has not completed the preparation of the 2024 annual report, which is required to be disclosed within six months after the end of the previous fiscal year [2]. - The company had previously announced the inability to disclose the 2024 annual report and the Q1 2025 report by the legal deadline [1][2]. Group 2: Solutions and Disclosure Timeline - The company is actively working to complete the necessary reports and will communicate with relevant parties to expedite the process [2]. - Once the reports are finalized, the company will convene a board meeting to review the relevant proposals and subsequently hold the annual shareholders' meeting [2]. Group 3: Impact of Delayed Disclosure - Due to the failure to disclose the 2024 annual report within the legal timeframe, the company's stock has been suspended from trading since May 6, 2025 [2]. - If the company does not disclose the annual report within two months of the stock suspension, it may face delisting risk warnings, and further delays could lead to termination of stock trading [2].

Core Points - The company held its 13th meeting of the 11th Board of Directors, where several key resolutions were passed, including amendments to the company's articles of association, a share repurchase plan, adjustments to the board of directors, and the appointment of a new financial director [1][2][3]. Group 1: Amendments to Articles of Association - The company proposed to amend its articles of association to comply with the latest legal requirements and improve governance, which will be submitted for shareholder approval [1]. Group 2: Share Repurchase Plan - A plan for repurchasing company shares through centralized bidding was approved, pending shareholder review [2]. Group 3: Board of Directors Adjustments - The resignation of Mr. Yan Dong from the board due to a job transfer was noted, and Mr. Zhao Yufeng was nominated as a candidate for the board, subject to shareholder approval [2][3]. Group 4: Appointment of Financial Director - Mr. Wei Zhaohui was appointed as the new financial director following the resignation of Mr. Hu Wei, with his qualifications having been reviewed and approved by the board's audit committee [5][7]. Group 5: Appointment of Auditing Firm - The company plans to appoint Xinyong Zhonghe Accounting Firm as the financial and internal control auditor for the year 2025, pending shareholder approval [5]. Group 6: Annual Shareholder Meeting - The company announced plans to hold its 2024 annual shareholder meeting, with details to be disclosed [5].