Implementation System of Cumulative Voting
Article 1
To further improve the governance structure of Shaanxi Meinuo Clean Energy Group Co., Ltd. (hereinafter referred to as "the Company"), standardize the election of directors, and ensure shareholders fully exercise their rights, this system is formulated in accordance with the Company Law of the People's Republic of China, the Code of Corporate Governance for Listed Companies, the Shenzhen Stock Exchange Listing Rules, and relevant provisions of the Articles of Association.
Article 2
The cumulative voting system referred to in this system means that during the election of directors at the shareholders' meeting, each share has the same number of voting rights as the number of directors to be elected, and shareholders may concentrate their voting rights.
Article 3
Cumulative voting shall be adopted in the following circumstances:
- When electing more than two independent directors;
- When a single shareholder and its concerted actors hold 30% or more of the shares, and the Company elects two or more directors.
For matters other than those mentioned above, whether to apply the cumulative voting system shall be determined according to the Articles of Association, the Rules of Procedure for Shareholders' Meetings, and relevant laws and regulations.