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the two major state-owned shareholders are competing for control of colin electric and will hold a shareholders' meeting at 14:00 on august 30, 2024 to re-elect the board of directors and the board of supervisors.

the meeting lasted for two days, from 14:00 on august 30 to 2:30 on august 31. the meeting host announced a temporary recess. the meeting resumed at 10:00 on august 31 and was still going on at 18:00.

the shareholders’ meeting resolution was not announced until the evening of september 1, 2024. the result was so unexpected.

1. the results of the shareholders' meeting were unexpected

when the shareholders' meeting was held, the major shareholder hisense webinar controlled 44.94% of the voting rights, and the second largest shareholder shijiazhuang guotou controlled 29.93% of the voting rights.

the proportion of shares held by shareholders who participated in the shareholders' meeting and voted was as high as 90.0458%. is this the highest participation ratio in history?

the board of directors consists of 7 members, including 4 non-independent directors and 3 independent directors.

however, the two major shareholders each nominated five directors, for a total of 10 director candidates, necessitating a differential election.

hisense webno can nominate three non-independent directors, chen weiqiang, shi wenbo, and wu xiangsong, and two independent director candidates, liu huan and zhong gengshen.

shijiazhuang guotou nominated three non-independent directors, mi yong, wang yong and li qian, and two independent directors, wang fanlin and chen jiangtao.