Hangzhou Fuen Co., Ltd. Regarding the Explanation of the Establishment, Improvement, and Operation of the Articles of Association for Shareholders' Meetings, Boards of Directors, Supervisory Boards, Independent Directors, and Board Secretaries
I. Establishment, Improvement, and Operation of the Shareholders' Meeting System
The Company has formulated the "Articles of Association" and the "Rules of Procedure for Shareholders' Meetings" in accordance with the "Company Law," "Guidelines for Articles of Association of Listed Companies," and other laws and regulations. These documents provide detailed regulations for matters related to the Shareholders' Meeting and have been deliberated and approved by the Company's Shareholders' Meeting. Since the establishment of the Company, the Shareholders' Meeting has operated in accordance with the "Company Law," "Articles of Association," and "Rules of Procedure for Shareholders' Meetings."
From the beginning of the reporting period to the date of this explanatory document, the Company convened 10 Shareholders' Meetings. The convening, proposal, attendance, deliberation, voting, resolutions, and meeting minutes of these Shareholders' Meetings have been conducted in a standardized manner. Within the scope of the Shareholders' Meeting's authority, effective resolutions have been made on significant matters such as the decision-making of related party transactions, the election of directors, supervisors, and independent directors, the Company's financial budget, profit distribution, and amendments to the Articles of Association, thereby effectively fulfilling the role of the Shareholders' Meeting.