Group 1 - The legal opinion letter confirms that the shareholder meeting of Jinneng Holding Shanxi Electric Power Co., Ltd. was convened and conducted in accordance with relevant laws and regulations [2][6][7] - The meeting was scheduled for April 2, 2025, and the notice was published on March 18, 2025, fulfilling the notification requirements [3][4] - A total of 475 shareholders attended the meeting, representing 1,396,568,121 shares, which accounts for 44.6877% of the total voting shares [5] Group 2 - The voting process included both on-site and online voting, with specific time slots for online participation [3][4] - The voting results showed that 1,390,300,821 shares were in favor of the proposals, representing 99.5512% of the valid votes cast [5][6] - The legal opinion concludes that the resolutions made during the meeting are valid and comply with the company's articles of association and relevant laws [6][7]

Core Viewpoint - *ST Xulan's stock price has been under significant pressure, with a continuous decline leading to potential delisting risks due to prolonged low trading prices [1][3][5] Trading Information Summary - As of March 28, 2025, *ST Xulan's stock closed at 0.52 yuan, down 22.39% from the previous week, marking a near one-year low [1] - The stock has appeared on the trading alert list due to a cumulative decline of 12% over three consecutive trading days [2][5] - Large transactions occurred on March 24, 25, and 26, with amounts of 28.99 thousand yuan, 104.19 thousand yuan, and 59.46 thousand yuan respectively [2] Company Announcement Summary - *ST Xulan's stock price has been below 1 yuan for 18 consecutive trading days, facing delisting risks if it remains below this threshold for 20 days [3][5] - The company reported a projected net loss for 2024 between 30 million yuan and 50 million yuan, with potential bad debt provisions reaching up to 9.6 billion yuan [3][5] - Non-operational fund occupation amounts to 7.527 billion yuan, which has not been rectified [3] - The company and its major shareholders are under investigation by the China Securities Regulatory Commission for failing to disclose the 2023 annual report and other violations [3][5]

Core Points - The China Securities Shanghai State-Owned Enterprises Index (CSI Shanghai SOE Index) decreased by 0.33%, closing at 1326.73 points with a trading volume of 22.22 billion yuan [1] - Over the past month, the CSI Shanghai SOE Index has declined by 3.31%, by 6.62% over the last three months, and by 6.57% year-to-date [2] Index Composition - The top ten weighted stocks in the CSI Shanghai SOE Index include China Pacific Insurance (8.31%), Shanghai Airport (6.27%), Guotai Junan Securities (5.51%), Shanghai Bank (4.71%), Shanghai Electric (3.53%), Sheneng Co. (3.52%), Pudong Development Bank (3.16%), Dongfang Securities (3.09%), Huayu Automotive (3.05%), and Shanghai Pharmaceuticals (3.03%) [2] - The index is composed entirely of stocks listed on the Shanghai Stock Exchange [3] Sector Allocation - The sector distribution of the CSI Shanghai SOE Index includes: Financials (28.28%), Industrials (23.74%), Consumer Discretionary (12.51%), Real Estate (10.02%), Healthcare (7.05%), Information Technology (5.82%), Communication Services (5.42%), Utilities (3.52%), Consumer Staples (2.04%), and Materials (1.59%) [3] Index Adjustment - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [3] - In special circumstances, the index may undergo temporary adjustments, such as when a sample stock is delisted or undergoes mergers, acquisitions, or splits [3]