According to a report from Economic News Agency on the 25th, Xinyuan Service (01895) announced that last Monday (15th), the board received a request notice from Xinyuan Real Estate and Xinyuan China Real Estate (Hong Kong), which hold approximately 10.1% of the group's shares, proposing five motions. However, the group will not include the proposed resolutions submitted by Xinyuan Real Estate in the agenda for the annual general meeting of shareholders.

The group stated that the request notice includes a motion to remove directors Shen Yuanqing and Lan Ye from their positions, and to immediately terminate all positions and roles held within the group, a motion to appoint Feng Bo as an executive director, a motion to appoint Tian Wenzhi as a non-executive director, and a motion to appoint Zhao Xia as an independent non-executive director. The request notice did not specify any reasons for the proposed resolutions by Xinyuan Real Estate.

The group indicated that on August 4, 2022, Daniel Zhang and Yang Yuyan each committed to the Stock Exchange and the group that they would not use the shares held by the major shareholders to influence the group's business and operations. After obtaining legal advice, the group's board believes that including the proposed resolutions by Xinyuan Real Estate in the agenda for the annual general meeting of shareholders would be equivalent to assisting in the violation of the commitments made by Daniel Zhang and Yang Yuyan. The commitments made by Daniel Zhang and Yang Yuyan to the group and the Stock Exchange remain valid. Therefore, the proposed resolutions submitted by Xinyuan Real Estate will not be included in the agenda for the annual general meeting of shareholders. (wh)