Guoquan Food (Shanghai) Co., Ltd. has called an extraordinary general meeting (EGM) for 10 September 2026 to seek shareholder approval on several capital-allocation resolutions.
Key proposals
1. 2026 H-share Equity Incentive Scheme • Mandate limit: up to 5% of the company’s issued share capital (excluding treasury and uncancelled repurchased shares) on the adoption date, equal to roughly 126.91 million H shares. • Share source: up to 100 million treasury shares already held (total treasury: 176.10 million) and/or on-market purchases funded by internal resources. • Validity: 10 years. Vesting period generally ≥12 months; shorter periods allowed in limited cases (e.g., make-whole grants, death or disability). • Eligible participants: executive directors (excluding INEDs), senior management and employees of the company and its subsidiaries. • Purchase prices tiered by rank, ranging from RMB1.00 per share (vice-president level) to RMB0.40 per share (supervisor/specialist level). • Performance hurdle: core operating profit targets from RMB600.00 million in 2026 to RMB1.20 billion in 2030, with subsequent annual targets to be set by the board. • Claw-back triggers include misconduct, violation of non-compete, material misstatement of accounts and other serious breaches. Shareholders will also vote to authorise the board or a scheme committee to administer grants, adjust terms and handle related compliance.
2. Interim cash dividend • Net profit for 1H 2026: RMB213.20 million. • Proposed dividend: RMB0.0503 per share (tax inclusive); aggregate payout about RMB127.70 million, payable on 28 October 2026 to shareholders on record as of 21 September 2026. • Treasury and to-be-cancelled shares are excluded from entitlement.
3. Guarantees for subsidiary financing • Company may provide joint-and-several guarantees up to RMB300.00 million to support subsidiary credit facilities. Authorisation runs to the 2026 AGM.
4. Change in use of IPO proceeds • Net IPO proceeds raised in 2023: HK$448.70 million; unutilised balance at 30 June 2026: HK$293.30 million. • Reallocation: HK$173.80 million shifted from (i) self-operated store expansion (-HK$139.50 million) and (ii) R&D centres (-HK$34.30 million) to factory construction/acquisitions (+HK$173.80 million). • Full utilisation deadline extended by one year to 31 December 2028 to match project progress.
Meeting logistics • H-share register closes 7–10 September 2026. • Proxy forms must reach Computershare Hong Kong Investor Services by 14:00 on 9 September 2026.
If approved, the initiatives aim to streamline capital deployment, strengthen production capacity and align employee incentives with long-term earnings growth.