Luxking Group Holdings Limited: Detailed Highlights from 2025 Annual General Meeting

Date: 27 October 2025
Venue: Furama City Centre, Singapore

Key Points from the AGM

• All Resolutions Passed with Overwhelming Majority
  The AGM saw all five proposed resolutions passed with near-unanimous support from shareholders. This reflects strong confidence in the current Board and management team.
• Financial Results and Audit
  Shareholders adopted the Directors’ Report and the Audited Financial Statements for the financial year ended 30 June 2025. The results were unanimously approved, with 100% of votes cast in favour. This signals robust investor trust in Luxking’s financial management and transparency.
• Board Composition and Leadership
  • Mr Er Kwong Wah was re-elected as Lead Independent Director, with 99.85% votes in favour. His independence and role in safeguarding shareholder interests were emphasized, particularly as the Executive Chairman and CEO positions are held by Mr Leung Chee Kwong. The Lead Independent Director acts as a check on Board decisions and is the point of contact for shareholders when other channels may be inappropriate.
  • Directors’ fees for FY2026 were approved at S\$160,415, payable quarterly in arrears, indicating stable remuneration and cost structure at the Board level.
• Auditor Reappointment
  Messrs BDO Limited (Hong Kong) and BDO LLP (Singapore) were re-appointed as joint auditors, with 100% votes in favour. The continued engagement of reputable auditors supports the credibility of Luxking’s financial statements.
• Authority to Issue Shares
  Shareholders granted authority to Directors to allot and issue new shares up to 50% of issued share capital (with up to 20% non-pro-rata), as per SGX-ST Listing Manual Rule 806. This provides flexibility for future fundraising, potential business expansions, or strategic moves. Investors should note this could impact share dilution and liquidity, making it a potentially price-sensitive development.

Shareholder Questions and Board Responses

• Governance and Internal Controls
  Shareholders sought clarification on the roles of Lead Independent Director, Independent Director, and Executive Director, as well as internal control effectiveness. The Board confirmed annual internal audit reviews and the importance of the LID in preventing unfettered decision-making and addressing shareholder concerns directly.
• Share Liquidity
  Concerns were raised about the low volume of issued shares and liquidity in the market. A suggestion was made to consider additional share allotment. The Board acknowledged the feedback and will consider it, signaling potential future corporate actions that could affect trading activity and the share price.
• Utilization of Cash Reserves
  With cash and bank balances at approximately RMB 31 million, shareholders suggested allocating funds for business expansion or property rental to generate additional income and stimulate share price. The Board responded that funds are conserved for working capital and operational needs amid challenging conditions, but they are open to considering expansion opportunities. The property in question is used for production and not available for leasing.

Other Important Highlights

• No Advance Shareholder Questions Received
  Prior to the meeting, the Company did not receive any advance questions from shareholders, indicating either satisfaction with current management or limited investor engagement.
• Poll Voting and Meeting Formalities
  All resolutions were voted on by poll, in accordance with SGX-ST requirements, ensuring transparency and fairness in the decision-making process.

Potential Price Sensitive Information

• The Board now has authority to issue up to 50% of the company’s issued shares, which could lead to future equity fundraising, mergers, acquisitions, or other strategic moves. Any exercise of this authority may affect share dilution and trading liquidity.
• Board is actively considering shareholder comments on share liquidity and utilization of cash reserves for expansion. Any decisions taken in these areas could have a direct impact on market valuation and investor sentiment.

Conclusion

The 2025 AGM of Luxking Group Holdings Limited reaffirmed the company’s governance structure, financial transparency, and management’s commitment to shareholder interests. The authority for future share issuance and ongoing discussions about liquidity and business expansion are key items for investors to monitor, as they could have implications for future share price movements.

Disclaimer: This article is based on publicly available minutes from Luxking Group Holdings Limited’s Annual General Meeting held on 27 October 2025. It is intended for informational purposes only and does not constitute financial advice or a recommendation to buy or sell securities. Investors should conduct their own due diligence and consult professional advisers before making investment decisions.

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