*ST New Tide's Extraordinary Shareholders' Meeting Approves Two Resolutions: The project completion proposal has a 99.80% approval rate, and the directors' liability insurance proposal has a 99.66% approval rate.

MaticHoleFiller · 2026-04-01T19:17:23+00:00

On March 30th, *ST New Tide held its first extraordinary shareholders' meeting for 2026, with 821 shareholders attending, holding a 60.37% stake. The meeting approved the proposal for the completion of the fundraising project and the purchase of director liability insurance, with the voting process being lawful and valid.

MaticHoleFiller

2026-04-01 19:17:23

Abstract generation in progress

March 30, the 2026 first extraordinary general meeting of shareholders of Shandong Xinchao Energy Co., Ltd. (Securities code: 600777, Securities abbreviation: *ST Xinchao (Rights Protection)) was held at Building 16, Floor 2, No. 766 Binhai East Road, Muping District, Yantai City, Shandong Province. The meeting was convened by the company’s board of directors, and was chaired by Mr. Zhang Junyu, Chairman and General Manager. Voting was conducted in a combination of in-person voting and online voting. The procedures for convening, holding, and voting at the meeting comply with the provisions of the Company Law, the Securities Law, and the Articles of Association.

The attendance at the meeting is as follows:

Number of shareholders and proxies attending the meeting
821
—
Total number of shares with voting rights held by the shareholders attending the meeting (shares)
3,487,736,668
Percentage of the number of shares with voting rights held by the shareholders attending the meeting out of the total number of shares with voting rights of the company (%)
60.3734

All 9 directors in office attended the meeting. The secretary to the board attended the meeting. The company’s senior management and the witness lawyers also attended the meeting.

This meeting deliberated and approved two non-cumulative voting proposals. The specific voting results are as follows:

Proposal on completing the conclusion of the fund-raised project and permanently supplementing the remaining raised funds with working capital

Result of the deliberation: Approved
Voting results: A-share shareholders approved 3,480,835,364 shares, representing 99.8021%; against 6,315,204 shares, representing 0.1810%; abstained 586,100 shares, representing 0.0169%

Proposal on purchasing liability insurance for directors and senior management

Result of the deliberation: Approved
Voting results: A-share shareholders approved 3,475,741,620 shares, representing 99.6560%; against 11,155,344 shares, representing 0.3198%; abstained 839,704 shares, representing 0.0242%

The voting results of shareholders holding less than 5% of the voting rights involved in major matters are as follows:

Proposal sequence number
Proposal name
Number of votes in favor
Percentage of votes in favor (%)
Number of votes against
Percentage of votes against (%)
Number of votes of abstention
Percentage of votes of abstention (%)
—
1
Proposal on completing the conclusion of the fund-raised project and permanently supplementing the remaining raised funds with working capital
73,485,220
91.4148
6,315,204
7.8560
586,100
0.7292
2
Proposal on purchasing liability insurance for directors and senior management
68,391,476
85.0782
11,155,344
13.8771
839,704
1.0447

All ordinary resolution proposals considered by this general meeting were approved with more than 1/2 of the voting rights held by shareholders attending the meeting (including shareholder proxies) casting in favor.

Beijing Jing Tian Gong Cheng Law Firm lawyers Zhen Yuanneng and Liang Jiaying provided witnessing for this meeting and issued a legal opinion. They believe that the procedures for convening and holding the meeting are lawful, the qualifications of the attendees and the conveners are valid, and the voting procedures and results are lawful and valid.

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