Zhejiang Shibao Company Limited released a supplemental circular dated 6 June 2026, adding a new agenda item for its upcoming annual general meeting (AGM) on 30 June 2026.
The additional resolution seeks shareholder approval for amended “Measures for the Administration of Remuneration and Performance Evaluation of Directors and Senior Management.” The revisions were initially approved at the 12th meeting of the company’s eighth-session board and subsequently requested for AGM inclusion by Zhejiang Shibao Holding Group Co., Ltd., which owns 31.79 % of the listed entity’s shares—well above the 1 % statutory threshold required to table interim proposals.
Key elements of the proposed measures include: • Governance: Oversight and formulation of remuneration policies will rest with the board’s Remuneration Committee, which must disclose any board decisions that diverge from its recommendations. • Pay Structure: Executives will receive a combination of fixed salary, performance-linked variable pay and medium- to long-term incentives, with variable components targeted at no less than 50 % of total annual cash compensation. • Performance Alignment: Annual targets will be set before each financial year; variable and long-term incentives will be adjusted post-audit and are subject to clawback if financial statements are restated or misconduct occurs. • Independent Directors: Compensation will be confined to fixed annual allowances, while non-executive directors without managerial roles will receive no remuneration from the company.
Shareholders of H shares recorded by 24 June 2026 may attend and vote. A revised proxy form must be submitted at least 24 hours before the meeting. The board recommends voting in favour of the new remuneration and performance evaluation framework.
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