Shenzhen Woer Heat-Shrinkable Material Co., Ltd. Announces Appointment of Overseas Auditor Following Successful EGM

Shenzhen Woer Heat-Shrinkable Material Co., Ltd. (“the Company”, Stock Code: 9981) has announced the poll results of its Second Extraordinary General Meeting (EGM) of 2026, held on March 19, 2026. This meeting brought important developments that shareholders and investors should be aware of, with potential implications for the Company’s governance and future financial reporting.

Key Highlights from the EGM

• Meeting Details: The EGM convened at the Company’s office in Shenzhen, with attendance both onsite and online (for A Shareholders). The meeting was presided over by Ms. Yi Huarong, the Company’s executive Director and general manager.
• Shareholder Participation: Out of a total of 1,389,603,762 shares eligible to vote (excluding 10,283,600 treasury shares), shareholders holding 251,422,685 shares participated in the voting, representing approximately 18.09% of eligible shares. This demonstrates a reasonable turnout for a single resolution EGM.
• Compliance and Scrutiny: The EGM’s procedures were overseen by Computershare Hong Kong Investor Services Limited, shareholder representatives, and lawyers from Sundial Law Firm. Sundial Law Firm also confirmed the meeting’s compliance with PRC laws and the Articles of Association.

Key Resolution Passed

• Appointment of Overseas Auditor:
  • The sole resolution at this EGM was the appointment of Moore CPA Limited as the Company’s overseas auditor for the financial year 2025.
  • The resolution passed with an overwhelming majority: 99.20% of votes cast in favour (249,411,605 shares), 0.57% against, and 0.23% abstained. This strong support signals shareholder confidence in the Board’s choice of auditor.
  • Moore CPA Limited’s appointment takes effect immediately from the date of the EGM’s approval.

What Shareholders Need to Know

• No Restrictions or Abstentions: There were no restrictions on any shareholders from voting, and no shareholders were required to abstain. No parties indicated any intention to vote against or abstain prior to the meeting.
• Board Participation: Of the nine directors, eight attended the meeting either in person or electronically. Only Mr. Zhou Heping, the executive Director, was absent due to business engagements.
• Legal Validation: Legal counsel from Sundial Law Firm confirmed the legitimacy and compliance of the EGM and its outcomes.

Potential Impact on Share Price

• Price-Sensitive Information:
  • The appointment of Moore CPA Limited as overseas auditor for 2025 is a significant governance development. The selection of a reputable international audit firm can enhance the transparency and credibility of the Company’s financial statements, which is often viewed positively by investors.
  • This move may increase investor confidence, especially among international and institutional investors, potentially impacting the Company’s share value. It is also worth noting that no other resolutions or new proposals were put forth at this EGM.

Board Statement

The Board, led by Executive Director and Chairman Mr. Zhou Heping, expressed satisfaction with the orderly conduct of the EGM and welcomed the appointment of Moore CPA Limited.

Board Composition (As of Announcement Date)

• Executive Directors: Mr. Zhou Heping, Ms. Yi Huarong, Mr. Liu Zhanli, Mr. Xia Chunliang, Ms. Deng Yan
• Non-executive Director: Dr. Li Wenyou
• Independent Non-executive Directors: Mr. Zeng Fanyue, Ms. Dai Bingjie, Mr. Wang Dong

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should exercise their own judgment and consult professional advisors before making any investment decisions related to Shenzhen Woer Heat-Shrinkable Material Co., Ltd. or its securities.

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