NSING Tech Calls 15 May 2026 AGM; Seeks New Mandates, Auditor Change and Approves No 2025 Dividend

NSING TECH (NSING TECHNOLOGIES INC.) has issued a circular convening its 2025 annual shareholders’ meeting on 15 May 2026 in Shenzhen. Twelve resolutions will be tabled, covering operational, financing and governance matters.

Key items up for approval

1. 2025 performance and profit appropriation • 2025 annual report and board work report will be presented. • The Board proposes no dividend or capitalisation issue as cumulative retained earnings remain negative after audit.

2. Capital authorisations • General mandate to issue up to 20 % of issued shares (excluding treasury shares) in H-share form. • Separate mandate for “small-scale rapid financing” of up to RMB 300 million, capped at 20 % of the latest audited net assets, with authority valid until the 2026 AGM.

3. Subsidiary guarantees • Board requests a 2026 aggregate guarantee limit of up to RMB 903.35 million for four subsidiaries. • If approved, total guarantees by the Company and subsidiaries would exceed 100 % of the latest audited net assets; guarantees to units with gearing above 70 % would also surpass 100 % of net assets.

4. Auditor rotation and fees • Replacement of China Audit Asia Pacific with Deloitte Hua Yong as domestic auditor and re-appointment of Deloitte Hong Kong as overseas auditor for 2026. • Combined audit fees to be capped at RMB 2.50 million (ex-VAT).

5. Corporate governance updates • Revision of registered capital to RMB 678.13 million following IPO of 95 million H shares. • Amendments to the Articles of Association and the procedural rules for shareholders’ and board meetings. • Introduction of a remuneration framework that links directors’ and executives’ variable pay to Company and individual performance, with claw-back provisions tied to financial restatements or misconduct.

6. Other information • AGM record date: 15 May 2026; H-share register closes 12–15 May 2026. • Shareholders may attend in person or by proxy; all resolutions will be decided by poll.

The circular highlights that outstanding external guarantees already total RMB 1.01 billion, or 109.58 % of net assets. The Board states that all guarantees involve entities within the consolidated group and believes risks are manageable.