Powerlong Real Estate Holdings Limited Announces Results of Extraordinary General Meeting

Date: 18 March 2026
Location: Hong Kong

Key Highlights from the EGM

• Resolution Approved by Shareholders: The sole ordinary resolution presented at the Extraordinary General Meeting (EGM) of Powerlong Real Estate Holdings Limited was duly passed by way of poll. This resolution concerned the approval, confirmation, and ratification of the Agreement (as defined in the Company’s Circular dated 25 February 2026) and all related transactions and matters.
• Voting Outcome: There was overwhelming support for the resolution, with 228,132,000 votes cast in favor (99.997808%) and only 5,000 votes against (0.002192%). As the majority requirement was satisfied, the resolution passed as an ordinary resolution.
• Director Attendance: All directors attended the EGM, either in person or electronically. This demonstrates robust governance and oversight from the Board.

Important Information and Potential Price-Sensitive Elements for Shareholders

• Abstention of Major Shareholders: Significant shareholders, namely Mr. Hoi Kin Hong, Mr. Hoi Wa Fong, Ms. Hoi Wa Fan, and their associates (including Skylong Holdings Limited, Sky Infinity Holdings Limited, and Walong Holdings Limited), collectively holding approximately 65.55% of the Company’s share capital (2,714,035,400 shares), abstained from voting on the resolution. This means the resolution was decided by the independent shareholders, who represented the remaining 34.45% (1,426,367,600 shares) of the issued shares.
• Implications: The approval and ratification of the Agreement and related transactions could be significant for the Company, depending on the nature and financial impact of the Agreement (as outlined in the Circular). This may influence the Company’s future operations, strategic direction, and potentially its financial performance and share value.
• No Other Restrictions: Other than the abstentions mentioned, there were no further restrictions, waivers, or stated intentions to vote against the resolution by any shareholders. No shares were subject to Listing Rules restrictions or required special treatment.
• Scrutineer: The poll was overseen by Computershare Hong Kong Investor Services Limited, ensuring transparency and accuracy in the voting process.
• Share Capital Update: As of the EGM date, the Company had a total of 4,140,403,000 shares in issue and no treasury shares.

Board Composition

• Executive Directors: Mr. Hoi Kin Hong, Mr. Hoi Wa Fong, Mr. Xiao Qing Ping, Mr. Zhang Hong Feng
• Non-Executive Director: Ms. Hoi Wa Fan
• Independent Non-Executive Directors: Mr. Au Yeung Po Fung, Dr. Mei Jian Ping, Dr. Ding Zu Yu, Ms. Liu Xiao Lan

Potential Share Price Impact

The passing of this resolution may be price-sensitive, depending on the details and implications of the Agreement that has been approved. Investors should refer to the Company’s Circular dated 25 February 2026 for specifics on the Agreement and evaluate how the approved transactions could affect the Company’s business and valuation. The abstention of controlling shareholders highlights that the decision rested with independent shareholders, which may be seen as a positive governance signal. However, the Agreement’s strategic or financial impact will ultimately influence the market’s reaction.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to review the full Company Circular and other official disclosures before making any investment decisions. The author and publisher accept no liability for any losses arising from reliance on this information.

View POWERLONG Historical chart here