Minglida (301268.SZ) announced on November 25th that the company's 21st board of directors meeting held on August 13, 2022, and the first extraordinary shareholders' meeting of 2022 held on August 30, 2022, respectively approved the proposal on the 'Investment Agreement signed with Anhui Hanshan Economic Development Zone Management Committee and the establishment of a subsidiary company.' The company agreed to sign investment-related agreements with the Hanshan Economic Development Zone Management Committee of Anhui (referred to as 'Hanshan Economic Development Zone Commission') and approved the establishment of a subsidiary by its wholly-owned subsidiary, Jiangsu Minglida Technology Co., Ltd., in Hanshan County, Ma'anshan City, Anhui Province, responsible for the construction and operation of the 'new energy automotive parts and energy storage structural components project'.
Based on the company's assessment of the market environment and adjustments to its strategic development layout, in order to better integrate the company's existing resources and optimize resource allocation, after equal negotiations between the company, Hanshan Economic Development Zone Management Committee, and Anhui Minglida Technology Co., Ltd. (referred to as 'Anhui Minglida'), it was unanimously agreed to terminate the above-mentioned 'Investment Agreement' without any mutual liability. After the termination of the investment agreement, the company plans to deregister the subsidiary Anhui Minglida. It is proposed to authorize the board of directors at the shareholders' meeting and delegate to the management to implement the relevant matters of terminating the investment agreement and deregistering the subsidiary.
