Huitongda Network Co., Ltd. (Stock Code: 9878) released an announcement regarding several key proposals to be tabled at its 2025 second extraordinary general meeting, scheduled for December 19, 2025. These proposals include abolishing the board of supervisors, amending the articles of association and related procedures, and using capital reserve to offset accumulated losses.

According to the announcement, the company plans to dissolve the board of supervisors in line with revised legal requirements. The board’s Audit Committee would assume oversight responsibilities, subject to shareholder approval. Concurrently, amendments to the articles of association, the rules of procedure for the general meeting, and the rules of procedure for the board will be put forward, ensuring corporate governance remains compliant with updated regulations.

In addition, the company proposes to withdraw RMB2,065.456 million from its capital reserve to fully offset longstanding losses. The capital reserve, derived from share premiums, amounted to RMB9,267.639 million at the end of 2024. After covering the losses, the company’s remaining capital reserve would stand at RMB7,202.183 million.

Shareholders on record by December 15, 2025, may attend and vote in person or by proxy at the extraordinary general meeting. The meeting will convene at 2:00 p.m. on December 19, 2025, on the 6th floor of the Huitongda Building in Nanjing. The outcome of the meeting will determine the final adoption of these crucial business and governance changes.