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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  China Huarong Asset Management Co., Ltd.    2799   CNE100002367

CHINA HUARONG ASSET MANAGEMENT CO., LTD.

(2799)
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China Huarong Asset Management : ANNOUNCEMENT POLL RESULTS OF THE EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS

09/21/2020 | 06:35am EST

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 Huarong Asset Management Co., Ltd.

(A joint stock limited liability company incorporated in the People's Republic of China)

(Stock Code: 2799)

ANNOUNCEMENT

POLL RESULTS OF

THE EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS

The second extraordinary general meeting of shareholders for 2020 (the "EGM") of China Huarong Asset Management Co., Ltd. (the "Company") was held at Conference Room 1221, No. 8 Financial Street, Xicheng District, Beijing, the PRC, on Monday, 21 September 2020.

Resolutions of the EGM

The EGM was convened by the Board and chaired by Mr. Wang Zhanfeng, the chairman of the Board. All the proposed resolutions set out in the notice of the EGM of the Company dated 6 August 2020 (the "Notice"), were passed by way of poll. There were no restrictions on any Shareholders casting votes on the proposed resolutions at the EGM. The convening and holding of the EGM, and the voting process were all in compliance with applicable laws and regulations, including the Company Law and the Articles of Association.

For details of the resolutions considered at the EGM, Shareholders may refer to the Notice and the circular of the EGM of the Company (the "Circular") both dated 6 August 2020. Capitalized terms in this announcement shall have the same meanings as those defined in the Circular unless the context otherwise requires.

Poll Results of the EGM

The total number of Shares of the Company in issue as at the date of the EGM was 39,070,208,462 Shares (including 14,026,355,544 Domestic Shares and 25,043,852,918 H Shares), which was the total number of Shares entitling the holders to attend and vote for or against or abstain from voting on the resolutions proposed at the EGM. Shareholders and authorized proxies holding an aggregate 31,265,646,225 voting Shares were present at the EGM, representing 80.024263% of the total voting Shares of the Company.

1

The poll results in respect of the resolutions proposed at the EGM are set out below:

Number of

Number of

Number of

votes for

votes against

votes abstained

(%)

(%)

(%)

ORDINARY RESOLUTIONS

1.

To consider and approve the election

31,190,093,211

75,553,014

0

of Mr. Wang Wenjie as an executive

(99.758351%)

(0.241649%)

(0.000000%)

Director

2.

To consider and approve the election

31,187,797,211

77,849,014

0

of Mr. Xu Nuo as a non-executive

(99.751008%)

(0.248992%)

(0.000000%)

Director

The Company's H Share registrar, Computershare Hong Kong Investor Services Limited ("Computershare"), Shareholders' representatives of the Company, Mr. Zhu Dewu from National Council for Social Security Fund and Ms. Li Lin from China Life Insurance (Group) Company, an employee representative Supervisor, Ms. Zheng Shengqin, and a lawyer from Haiwen & Partners, the PRC legal advisor of the Company, Mr. Du Ning acted as scrutineers for the vote-taking at the EGM. Computershare acted as the vote-counter for the vote-taking at the EGM.

Appointment of Directors of the Company

As approved by the Shareholders at the EGM, Mr. Wang Wenjie and Mr. Xu Nuo were appointed as an executive Director and a non-executive Director of the Company, respectively. Their terms of office shall take effect upon the approval of their directorship qualifications by the China Banking and Insurance Regulatory Commission until the election of the next session of the Board. The biographical details of Mr. Wang Wenjie and Mr. Xu Nuo and other relevant information have been set out in the Circular. As at the date of this announcement, there has been no change of such information.

By order of the Board

China Huarong Asset Management Co., Ltd.

WANG Zhanfeng

Chairman

Beijing, the PRC

21 September 2020

As at the date of this announcement, the Board comprises Mr. WANG Zhanfeng and Ms. LI Xin as executive directors of the Company; Ms. ZHAO Jiangping, Mr. ZHENG Jiangping and Mr. ZHOU Langlang as non-executive directors of the Company; Mr. TSE Hau Yin, Mr. LIU Junmin, Mr. SHAO Jingchun and Mr. ZHU Ning as independent non-executive directors of the Company.

2

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

China Huarong Asset Management Co. Ltd. published this content on 21 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 September 2020 10:34:06 UTC


© Publicnow 2020
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Sales 2020 93 500 M 14 434 M 14 434 M
Net income 2020 4 004 M 618 M 618 M
Net Debt 2020 - - -
P/E ratio 2020 10,1x
Yield 2020 2,42%
Capitalization 41 024 M 5 292 M 6 333 M
Capi. / Sales 2020 0,44x
Capi. / Sales 2021 0,40x
Nbr of Employees 10 687
Free-Float 22,8%
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Technical analysis trends CHINA HUARONG ASSET MANAGEMENT CO., LTD.
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus UNDERPERFORM
Number of Analysts 3
Average target price 0,78 CNY
Last Close Price 1,05 CNY
Spread / Highest target -19,1%
Spread / Average Target -26,1%
Spread / Lowest Target -38,9%
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NameTitle
Wen Jie Wang President
Zhan Feng Wang Chairman
Jian Zhong Hu Chairman-Supervisory Board
Hau Yin Tse Independent Non-Executive Director
Sheng Qin Zheng Member-Supervisory Board
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