Shannon Semiconductor Technology Co., Ltd. (hereinafter referred to as "the Company") and all members of the board of directors guarantee that the content of this information disclosure is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
I. Meeting Details
The notice for the 17th (temporary) meeting of the 5th board of directors was delivered to all directors and senior management via SMS and email on March 17, 2026. The meeting was held on March 20, 2026, in a combination of on-site and communication methods. The meeting was chaired by Mr. Huang Zewei, and all 9 directors attended. Senior management also attended the meeting. The attendance, convening procedures, and agenda of the meeting complied with the requirements of the Company Law and the Articles of Association.
II. Meeting Resolutions
The directors present at the meeting voted on the following matters:
- Approval of the Proposal for Credit Application and Guarantee for Wholly-Owned Subsidiaries
After review, the board agreed that the entities within the consolidated financial statements of the Company may apply for a new credit limit not exceeding RMB 16.54 billion (or equivalent foreign currency) from banks and non-bank institutions. The new credit limit is valid for one year from the date of approval by the shareholders' meeting. During the credit period, the limit may be reused. The board also requested the shareholders' meeting to authorize the general manager or their authorized representative to handle the credit arrangements and sign relevant documents for loans, bank acceptance bills, factoring, bill discounting, letters of credit, etc., within the above limit. This authorization is valid for one year from the date of approval by the shareholders' meeting.