Core Viewpoint - The ongoing control dispute at Zhenxin Technology (振芯科技) has led to significant disagreements regarding the company's governance proposals, culminating in a recent extraordinary shareholders' meeting where several key resolutions were not passed [3][5][13]. Group 1: Shareholder Meeting Outcomes - The extraordinary shareholders' meeting held on December 26 resulted in the approval of 11 proposals, including the amendment of the company's articles of association, while three proposals related to governance rules were rejected [13]. - The rejected proposals included the "Rules of Shareholders' Meetings," "Rules of Board Meetings," and "Implementation Rules for Online Voting at Shareholders' Meetings," with opposition votes exceeding 71.84% [13]. Group 2: Disagreements and Proposals - Zhenxin Technology's major shareholder, Chengdu Guoteng Electronics Group (国腾电子集团), submitted a temporary proposal to enhance governance by requiring audits for departing executives, which was ultimately not submitted for shareholder approval by the board [8][9]. - The board justified its decision by stating that the proposal fell under internal audit regulations and did not require shareholder meeting approval, as the company had already completed the audit for the former chairman [9]. Group 3: Control and Governance Issues - The major shareholder expressed concerns regarding the company's governance rules, arguing that the current rules may limit the ability of shareholders to propose legitimate items for discussion at meetings [11][12]. - The major shareholder also highlighted potential risks associated with the board's interpretation of governance rules, which could hinder shareholder rights and oversight [12].

Meeting Overview - The second extraordinary general meeting of shareholders for Shanghai Kaixin Separation Technology Co., Ltd. was held on September 16, 2025, with no resolutions being rejected and no changes to previously approved resolutions [1] - The meeting took place at the company's conference room in Shanghai and included both on-site and online voting options [2] Attendance Details - A total of 59 shareholders attended the meeting, representing 32,577,664 shares, which is 51.0754% of the total voting shares [2] - Among the attendees, 9 shareholders were present on-site, representing 32,038,564 shares (50.2302%), while 50 participated via online voting, representing 539,100 shares (0.8452%) [2] Minority Shareholder Participation - 53 minority shareholders participated in the meeting, representing 2,114,464 shares, or 3.3151% of the total voting shares [3] - Of these, 3 minority shareholders voted on-site, representing 1,575,364 shares (2.4699%), and 50 voted online, representing 539,100 shares (0.8452%) [3] Voting Results - The proposal to amend the company's articles of association was approved with 32,540,364 shares in favor, accounting for 99.8855% of the votes from attending shareholders [4] - The opposition amounted to 22,300 shares (0.0685%), and 15,000 shares were abstained (0.0460%) [4] Legal Opinion - The legal representatives from Beijing Jiayuan Law Firm confirmed that the meeting's procedures, qualifications of attendees, and voting processes complied with relevant laws and regulations, deeming the voting results valid [5] - The resolutions and legal opinions from the meeting will be retained as official documents [5]