Minsheng Education Group Company Limited (Minsheng Edu) held its annual general meeting (AGM) on 9 June 2026, where shareholders approved all ordinary resolutions except the proposal to re-appoint Ernst & Young as external auditor.
A total of 4.22 billion shares were eligible to vote and all directors participated either in person or via telecommunication. Computershare Hong Kong Investor Services Limited acted as scrutineer.
Key decisions are as follows:
1. Financial Statements and Directors’ Reports • The audited consolidated financial statements for the year ended 31 December 2025 were adopted with 100.00 % of votes cast in favour (3.36 billion shares).
2. Board Composition and Remuneration • Executive director Mr Zuo Yichen, non-executive directors Ms Xu Wenya and Ms Li Yanping, and independent non-executive director Mr Yu Huangcheng were all re-elected. • The board was authorised to fix directors’ remuneration. • Each of these resolutions received between 99.98 % and 100.00 % approval.
3. Auditor Re-appointment Rejected • Only 10.03 % of votes (337.17 million shares) supported the re-appointment of Ernst & Young; 89.97 % (3.02 billion shares) voted against, resulting in the resolution’s failure. • Ernst & Young therefore retired at the conclusion of the AGM. The board and audit committee reported no disagreements with the outgoing auditor and expressed appreciation for its past services. • Minsheng Edu is now searching for a replacement auditor and will announce an appointment “as soon as practicable.”
4. Share Issuance and Buy-back Mandates • Shareholders granted the board a general mandate to issue up to 20 % of the company’s issued share capital and to repurchase up to 10 %. • The mandate to extend the issuance limit by the amount of any shares bought back was also approved. • Approval rates for these mandates stood at 99.85 % for issuances and 100.00 % for buy-backs.
No shareholders were required to abstain from voting, and no votes were recorded in favour of any resolutions by treasury shares, as the company held none at the time of the meeting.