2020 Yuanbang New Material Shareholders’ Meeting

Shandong Yuanbang New Material Co., Ltd held the annual general meeting of shareholders in Vienna Hotel, Gaomi City on May 21^st, 2020.

At the meeting, Mr. Liu Yejun, chairman of the board, made a detailed report on the operation of the company in 2019 to all shareholders and made a detailed plan for the future work in 2020. Mr. Zhao Jiexing, manager of the Financial Department, reported on the financial work for 2019 to all shareholders.

At the meeting, the shareholders unanimously passed the following resolutions:

• It is agreed that Haohan company will invest 2.6 million RMB to build a three-storey R&D center and increase the R&D investment in new products.
• Yuanbang company will build a new workshop for two new drying production lines with an annual output of 6000 tons. One line is to produce ACR Processing Aids for transparent products; the other line is to produce ACR Impact Modifier.
• It is agreed at the meeting to absorb the additional capital investment from both new and old shareholders and modify the company’s relevant articles of association.
• Others