C Transmission (00658): Fengsheng (00607) is currently taking measures to request an extraordinary general meeting of shareholders to restructure the company's board of directors.

C TRANSMISSION (00658) announced that Prosperous (00607) is currently taking measures to request a special general meeting of shareholders for the restructuring of the company's board of directors, in order to investigate and rectify any existing and potential misconduct, and to preserve the assets of the company and its subsidiaries. In this context, Prosperous alleges that despite multiple requests, the company has failed to provide sufficient information or explanation regarding the revision of the articles of association of its subsidiary, Nanjing High Speed Gear Manufacturing Co., Ltd. (Nanjing High Speed Gear), which is directly owned by Nanjing Gaochi Enterprise Management Co., Ltd. (Nanjing Gaochi Management) with 50.02% at the end of September 2024. Furthermore, Prosperous was not informed, authorized, or approved of the revision of the Nanjing High Speed articles of association, and Prosperous opposes this revision. The company and its board of directors strongly refute the allegations regarding the revision of the Nanjing High Speed articles of association. These allegations are misleading and have no factual basis. Specifically, the revision of the Nanjing High Speed articles of association appropriately reflects the company's ownership structure and ensures fair and equal treatment of all shareholders. The company confirms that, under the revised Nanjing High Speed articles of association, it still maintains control over Nanjing High Speed Gear. The company and its board of directors will vigorously resist any improper attempts to harm the independence, integrity, and impartiality of the company and its board of directors, as well as any attempts to obstruct the ongoing independent investigation.