Shenzhen Woer Heat-Shrinkable Material Co., Ltd. (WOER) has issued a circular convening its 2025 Annual General Meeting (AGM) for 2:00 p.m. on 26 May 2026 in Shenzhen.
Financial highlights • 2025 revenue reached RMB 8.45 billion, up 22.00% year-on-year. • Net profit attributable to shareholders rose 34.96% to RMB 1.14 billion; net profit after non-recurring items increased 36.92% to RMB 1.09 billion.
Dividend proposal The Board recommends a cash dividend of RMB 1.65 (tax-inclusive) for every 10 shares, totalling approximately RMB 229.28 million based on 1,389,603,762 outstanding shares (excluding 10,283,600 treasury A-shares). The register of H-share members will be closed from 20 to 26 May 2026.
Other AGM resolutions 1. 2025 Board work report and 2025 annual report. 2. Directors’ remuneration for 2026: non-executive and independent directors to receive RMB 120,000 each; executive directors to be paid according to positions and performance. 3. Re-appointment of Zandar Certified Public Accountants LLP (domestic) and Moore CPA Limited (overseas) for 2026 at fees of RMB 2.43 million and RMB 1.00 million, respectively. 4. Adoption of a new remuneration management policy for directors and senior management.
Shanghai Keter listing plan Controlling subsidiary Shanghai Keter New Materials plans to shift from the National Equities Exchange and Quotations to the Beijing Stock Exchange via a public issue of up to 31.50 million shares (or 36.00 million including an over-allotment option). Post-issue, WOER’s stake will drop from 78.76% to about 57.04% (59.07% if the greenshoe is not exercised). Net proceeds are earmarked mainly for a RMB 400 million lithium-battery insulation materials base in Zhejiang. Shanghai Keter posted 2025 revenue of RMB 519.68 million and net profit of RMB 49.67 million. The listing remains subject to BSE review and CSRC registration.
Guarantees for subsidiaries To support an industrial-park expansion in Huizhou and overseas financing, WOER plans to: • Provide joint-and-several guarantees totalling RMB 640 million for four subsidiaries—Woer Intelligent, LTK Cable, Woer Materials and LTK Technology—to secure long-term project loans (tenor up to 10 years). • Approve LTK Electric to offer up to RMB 200 million in guarantees for its Hong Kong unit LTK International.
The aggregate RMB 840 million guarantee quota represents 12.93% of WOER’s 2025 net assets and 17.08% of total assets. The proposed guarantees and Shanghai Keter listing will be submitted to shareholders for approval at the AGM.
Shareholder arrangements H-share holders must be on record by 26 May 2026 to vote at the AGM; transfers close from 20 to 26 May 2026. Proxy forms must reach Computershare Hong Kong Investor Services by 2:00 p.m. on 25 May 2026.
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