Sinotruk (Hong Kong) Limited reported that every motion tabled at its Annual General Meeting (AGM) on 29 June 2026 received strong shareholder backing via poll, cementing continued support for the company’s strategy and governance structure. Computershare Hong Kong Investor Services acted as scrutineer for the vote count.
Dividend Payout • Shareholders approved a final dividend of either HK$0.88 or RMB0.78 per share for the financial year ended 31 December 2025. • The resolution passed with 99.999957% of votes cast in favour (2.34 billion shares).
Financial Statements and Auditor • The 2025 audited consolidated financial statements, directors’ report and independent auditor’s report were adopted with 99.90% approval (2.34 billion shares). • KPMG was re-appointed as independent auditor for FY 2026, receiving 99.60% support (2.33 billion shares).
Board Composition and Remuneration • Six directors—Mr. Liu Wei, Mr. Han Feng, Dr. Wang Dengfeng, Mr. Zhao Hang, Mr. Lyu Shousheng and the Board as a whole for remuneration matters—were re-elected or re-authorized. Approval rates ranged from 96.74% to 99.95%, ensuring continuity in executive and independent oversight.
Connected Transactions and Future Caps • Independent shareholders endorsed three key related-party agreements with China National Heavy Duty Truck Group (CNHTC): 1) Second Supplemental Agreement to the 2026 CNHTC Purchase of Goods Agreement, with a revised annual cap for FY 2026. 2) 2029 CNHTC Sale of Goods Agreement, setting annual caps for 2027–2029. 3) 2029 CNHTC Purchase of Goods Agreement, establishing matching annual caps for the same period. Each resolution secured 99.93% approval from the 932.21 million shares eligible to vote, after CNHTC (holding 1.41 billion shares) abstained due to connected-party status.
Share Capital and Attendance • As of the AGM date, Sinotruk had 2.76 billion shares outstanding. • For resolutions 1–4, 2.74 billion shares (99.31% of issued shares) were eligible to vote; for resolutions 5–7, 1.33 billion shares (48.31%) held by independent shareholders were entitled to vote. • The company’s restricted share award scheme trustee, holding 18.97 million unvested shares (0.69%), abstained from all voting in accordance with Listing Rules. • All executive, non-executive and independent non-executive directors attended the AGM.
Implications The near-unanimous approval across all agenda items highlights robust shareholder confidence in Sinotruk’s strategic direction, governance framework and related-party transactions, while the confirmed HK$0.88 per share dividend underscores management’s commitment to shareholder returns.
Comments