Jiaocheng Ultrasonic Shareholders' Meeting Passes Resolution by Wide Margin; Plans to Increase Capital to Wholly-owned Subsidiary Using Remaining Excess Raised Funds to Implement Projects Under Construction

MaticHoleFiller · 2026-03-25T10:50:01+00:00

Shanghai Jiaochen Ultrasonic Technology Co., Ltd. held a temporary shareholders' meeting on March 19, 2026, to review and approve a proposal to increase capital in its wholly-owned subsidiary. The meeting's voting rights represented 55.4693% of total voting rights, with affirmative votes accounting for 99.9657%. Legal counsel confirmed the meeting procedures were lawful and valid, and this move will facilitate the progress of the ongoing project.

MaticHoleFiller

2026-03-25 10:50:01

Abstract generation in progress

(March 19, 2026, Shanghai) Shanghai Jiaocheng Ultrasonic Technology Co., Ltd. (Stock Code: 688392, Stock Abbreviation: Jiaocheng Ultrasonic) held its first extraordinary general meeting of shareholders in 2026 today. The meeting approved the proposal on using remaining oversubscribed funds to increase capital in wholly-owned subsidiaries to implement ongoing projects. Shareholders holding 55.4693% of the total voting rights attended the meeting, and the proposal received 99.9657% of high votes in support.

The meeting was held on March 19, 2026, at the company’s conference room (No. 1488 Cangyuan Road, Minhang District, Shanghai), combining on-site and online voting. The meeting was convened by the company’s board of directors and chaired by Chairman Zhou Hongjian. All five current directors attended the meeting, along with Vice General Manager, Board Secretary, and Chief Financial Officer Sun Kai, as well as some senior executives.

The voting results showed that out of 62,582,976 voting rights involved, 62,561,561 votes were in favor, accounting for 99.9657%; 12,326 votes against, accounting for 0.0196%; and 9,089 votes abstained, accounting for 0.0147%.

The voting results for small and medium investors are as follows:

Proposal Name	Approve	Disapprove	Abstain
Proposal on using remaining oversubscribed funds to increase capital in wholly-owned subsidiaries to implement ongoing projects	18,735,648 (99.8858%)	12,326 (0.0657%)	9,089 (0.0485%)

Jiangsu Shiji Tongren Law Firm lawyers Kan Ying and Cui Yang witnessed the general meeting and issued legal opinions, stating that the procedures for convening and holding the meeting comply with relevant laws, regulations, and the company’s articles of association. The qualifications of attendees and organizers are legal and valid, and the voting procedures and results are lawful and effective.

Jiaocheng Ultrasonic stated that using remaining oversubscribed funds to increase capital in wholly-owned subsidiaries will help promote the smooth implementation of ongoing projects and has positive significance for the company’s future development.

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