Shandong Hi-Speed New Energy Group Limited (SDHS New Energy) has released its circular for the Annual General Meeting scheduled for 15 June 2026 in Hong Kong. The meeting will ask shareholders to approve refreshed share mandates, director re-elections and the re-appointment of the external auditor.
Key proposals and data points:
1. Share capital mandates • Issue Mandate: Directors may allot, issue or transfer up to 20% of the existing share base, equivalent to 449.32 million shares, excluding any treasury shares. • Repurchase Mandate: The Board may buy back up to 10% of issued shares, or 224.66 million shares. • Extension: The issue limit can be enlarged by the number of shares actually repurchased. The company confirms no shares have been repurchased in the past six months. Majority shareholder SDHG’s stake would rise from 56.97% to 63.30% if the full buy-back limit is exercised.
2. Board composition Four directors are standing for re-election: executive directors Zhu Jianbiao and Wang Meng, and independent non-executive directors Yang Xiangliang and Chiu Kung Chik. Mr. Chiu, who has served over nine years, will be subject to a separate vote in line with Hong Kong governance code requirements. Biographical details show experience spanning private equity, legal affairs, power-plant operations and investment banking.
3. Auditor Ernst & Young is nominated for another term. The estimated audit fee for the year ending 31 December 2026 is RMB4.56–5.04 million, subject to final confirmation.
4. Key dates • Register closure: 10–15 June 2026 (both days inclusive). • Last day to lodge share transfers: 9 June 2026, 4:30 p.m. • Record date: 15 June 2026. Voting at the AGM will be conducted by poll.
5. Market reference During the 12 months to 15 May 2026, SDHS New Energy’s shares traded between HK$1.41 and HK$2.80.
Shareholders are encouraged to submit proxy forms at least 48 hours before the AGM. Completion of a proxy does not preclude attending and voting in person. Treasury-share holders, if any, have no voting rights.