The founding and first shareholders' meeting of Tangshan Sanyou Silicon Industry Co., Ltd was successfully held on the morning of August 8th, marking the completion of the shareholding reform process, and signaling the preparation stage for listing. This has laid a strong foundation for Sanyou to enter the capital market and apply for IPO listing in the future.
The meeting reviewed and approved 25 issues, which included the establishment of Sanyou Silicon Industry Co., Ltd, the stock conversion plan, the new company's articles of association, the election of members for the new board of Directors and supervisory board, as well as the formation of various specialized committees under the board. Furthermore, optimization was made to enhance both the company's board member structure and corporate governance system in order to meet regulatory requirements for listing. Simultaneously, improvements were made to further strengthen our corporate governance system in accordance with regulations for listed companies and IPO requirements. The enhancement aims to ensure strict compliance with legal obligations while enhancing operational and management capabilities, thus playing a significant role in promoting high-quality development within our company. The meeting simultaneously conducted a session for the board of Directors and a session for the board of Supervisors.
Since the launch of the shareholding reform in April, Sanyou Silicon has successfully and efficiently completed the due diligence of securities firms and lawyers, as well as the audit and evaluation of the stock reform, with the careful organization and close cooperation among various units. This achievement was made possible thanks to the care and support from group leaders, strong promotion from company leaders, and professional guidance from intermediary institutions. These efforts have laid a solid foundation for the company's completion of the shareholding reform.
