Company Code: 002364
Company Name: Zhongheng Electric
Announcement No.: 2026-23
Announcement of Resolutions of the Ninth Board of Directors Meeting of the Ninth Session
The Company and all members of the Board of Directors guarantee the content of the information disclosure is true, accurate, and complete, and that there are no false records, misleading statements, or major omissions.
The ninth meeting of the ninth Board of Directors of Hangzhou Zhongheng Electric Co., Ltd. (hereinafter referred to as the "Company") was held on July 27, 2026, through on-site and written voting. Seven directors were eligible to attend, and seven directors actually attended. All directors agreed to waive the notice period for the meeting. The meeting was presided over by Mr. Bao Xiaoru, Chairman of the Company, and senior management personnel of the Company attended the meeting. The convening and holding procedures of this meeting comply with laws and regulations and the "Company Articles of Association." The following proposals were reviewed at the meeting:
I. The proposal on "Changing the Purpose of Share Buyback" was reviewed and approved by 4 votes in favor, 0 votes against, 0 abstentions, and 3 abstentions.
The Board of Directors agreed to adjust the purpose of the share buyback from the original plan of "necessary for maintaining company value and shareholder rights" to "the share buyback will be used for equity incentives or employee stock ownership plans."
For details, please refer to the "Announcement on Changing the Purpose of Share Buyback" disclosed by the Company on the same day in the Securities Times, China Securities Journal, Shanghai Securities News, and Cninfo.
Related directors Mr. Xu Feifei, Mr. Qiu Xiangdong, and Ms. Zhang Ban participated in the employee stock ownership plan and abstained from voting on this proposal.