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    586   KYG2116J1085

CHINA CONCH VENTURE HOLDINGS LIMITED

(586)
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China Conch Venture : POLL RESULTS OF THE 2021 ANNUAL GENERAL MEETING

06/25/2021 | 11:01am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

China Conch Venture Holdings Limited

中 國 海 螺 創 業 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 586)

POLL RESULTS OF THE 2021 ANNUAL GENERAL MEETING

HELD ON 25 JUNE 2021

The board (the ''Board'') of directors (the ''Directors'') of China Conch Venture Holdings Limited 海螺業控股有限公 (the ''Company'') announces that at the 2021 annual general meeting of the Company held on 25 June 2021 (the ''AGM''), all proposed resolutions as set out in the notice of the AGM dated 30 April 2021 were duly passed by the shareholders of the Company by way of poll.

The poll results are set out as follows:

Number of Votes

Ordinary Resolutions

(Approximate %)

For

Against

1.

To receive the audited consolidated financial statements of

1,119,445,380

2,322,004

the Company and its subsidiaries and the reports of the

(99.79%)

(0.21%)

directors and auditors for the year ended 31 December

2020.

2.

To declare a final dividend of HK$0.70 per share for the

1,115,708,706

6,058,678

year ended 31 December 2020.

(99.46%)

(0.54%)

3.(a)

To re-elect Mr. Ji Qinying as an executive Director.

1,093,970,952

27,796,432

(97.52%)

(2.48%)

3.(b)

To re-elect Mr. Li Daming as an executive Director.

1,090,543,793

31,223,591

(97.22%)

(2.78%)

3.(c)

To re-elect Mr. Chang Zhangli as a non-executive Director.

694,393,610

427,373,774

(61.90%)

(38.10%)

3.(d)

To authorise the Board to fix the Directors' remuneration.

1,120,149,627

1,617,757

(99.86%)

(0.14%)

4.

To re-appoint KPMG as auditors and to authorise the Board

1,104,737,073

17,030,311

to fix their remuneration.

(98.48%)

(1.52%)

- 1 -

Number of Votes

Ordinary Resolutions

(Approximate %)

For

Against

5.

To grant a general mandate to the Directors to repurchase

1,118,647,660

3,119,724

shares of the Company.*

(99.72%)

(0.28%)

6.

To grant a general mandate to the Directors to issue, allot

628,074,877

493,692,507

and deal with additional shares of the Company.*

(55.99%)

(44.01%)

7.

To extend the general mandate granted to the Directors to

639,140,487

482,626,897

issue, allot and deal with additional shares of the Company

(56.98%)

(43.02%)

by the aggregate number of the shares repurchased by the

Company.*

  • The full text of Resolutions 5, 6 and 7 were set out in the notice of the AGM. Please refer to the notice of AGM for the full text of the above resolutions.

As the number of votes cast in favour of each of the above resolutions represents more than 50% of the total number of votes cast for the respective resolutions, all such resolutions were duly passed as ordinary resolutions of the Company.

As at the date of the AGM, the total number of shares of the Company in issue, being the total number of shares entitling the holders thereof to attend and vote on the resolutions at the AGM, was 1,804,750,000 shares. There were no shares entitling the holder to attend and abstain from voting in favour of the resolutions at the AGM as set out in rule 13.40 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ''Listing Rules''). No shareholder of the Company was required under the Listing Rules to abstain from voting on any of the resolutions at the AGM. None of the shareholders of the Company have stated their intention in the Company's circular dated 30 April 2021 to vote against or to abstain from voting on any of the resolutions at the AGM.

The Company's external auditors, KPMG, acted as the scrutineer for the vote-taking at the AGM.

For and on behalf of the Board

China Conch Venture Holdings Limited

海螺業控股有限公

GUO Jingbin

Chairman

Anhui Province, China

25 June 2021

As at the date of this announcement, the Board comprises Mr. GUO Jingbin (Chairman), Mr. JI Qinying (Chief Executive Officer), Mr. LI Jian and Mr. LI Daming as executive Directors; Mr. CHANG Zhangli as non-executive Director; Mr. CHAN Chi On (alias Derek CHAN), Mr. CHAN Kai Wing and Mr. LAU Chi Wah, Alex as independent non-executive Directors.

- 2 -

Disclaimer

China Conch Venture Holdings Ltd. published this content on 25 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 June 2021 15:00:05 UTC.


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Sales 2021 9 366 M 1 465 M 1 465 M
Net income 2021 8 463 M 1 324 M 1 324 M
Net Debt 2021 8 886 M 1 390 M 1 390 M
P/E ratio 2021 8,32x
Yield 2021 1,71%
Capitalization 69 143 M 8 891 M 10 818 M
EV / Sales 2021 8,33x
EV / Sales 2022 6,59x
Nbr of Employees 6 271
Free-Float 86,9%
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Mean consensus BUY
Number of Analysts 9
Last Close Price 37,85 CNY
Average target price 37,07 CNY
Spread / Average Target -2,05%
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Managers and Directors
Qin Ying Ji Chief Executive Officer & Executive Director
Jing Bin Guo Chairman
Chi On Chan Independent Non-Executive Director
Kai Wing Chan Independent Non-Executive Director
Chi Wah Lau Independent Non-Executive Director