On May 18, 2023, Ka Long High-tech Co., Ltd. held the 2022 Annual General Meeting of Shareholders and the First Meeting of the Fourth Board of Directors. Chairman Zang Zhicheng, Independent Director Sun Xinwei, Yuan Yinnan, Director Pan Haifeng attended the on-site meeting. Independent Director Hu Jianrong, Directors Ye Jun, Li Huachao participated via communication. The company's lawyers, supervisors and senior management attended the meeting as observers.
This shareholders' meeting approved the "Company's 2022 Annual Report and its Summary", "The 2022 Annual Report of the Company's Board of Directors' Work", "The Proposal for the Election of the Board of Directors and the Nomination of Candidates for Non-Directors of the Fourth Board of Directors", "The Proposal for the Election of the Board of Directors and the Nomination of Candidates for Independent Directors of the Fourth Board of Directors", and other contents.
The meeting agreed to elect Mr. Zang Zhicheng, Mr. Pan Haifeng, Mr. Yuan Yin'an, Mr. Zhu Lin, Mr. Xu Yanqing, Mr. Ye Jun and Mr. Li Huachao as the members of the company's fourth board of directors. Their term of office is three years and will take effect after being approved by the 2022 annual general meeting of shareholders. Among them, Mr. Yuan Yin'an, Mr. Zhu Lin and Mr. Xu Yanqing are the independent directors of the company's fourth board of directors.
At the meeting, the company's management team presented to the directors the company's main business development and operation situation over the past year, and made an outlook on the company's future development strategy. The attending directors listened to the management's report. Although the company's performance declined in 2022, the directors expressed confidence in the current operation and development of the company's specific industry segment, and offered suggestions for future transformation planning: The company should seize the opportunities of the development of new energy, new materials, and new technologies, continuously enhance its competitiveness, maintain its competitive advantage and industry leading position, actively expand its thinking, and accelerate the transformation and upgrading of existing businesses. The new board of directors will be diligent, enterprising, and work together with Ka Long High-tech to strive for good performance and return it to all shareholders.
Mr. Zang Zhicheng, the chairman, expressed his gratitude to all the directors for their suggestions and efforts in promoting the company's development. Kailong Hi-Tech has a solid foundation for growth and research and development. Under the guidance of leaders at all levels and with the joint support of shareholders, Kailong Hi-Tech has made significant progress and development under the correct leadership of the company's board of directors. We hope that the new board of directors will lead Kailong Hi-Tech to forge ahead and move forward bravely.
Mr. Zang Zhicheng, the chairman, proudly stated, "Kailong Hi-Tech has been deeply involved in the industry for 22 years and has been at the forefront of research and industrialization of air pollution prevention and control in our country. It has successively established the country's first national-level enterprise technology center in the field of internal combustion engine emission control, the CNAS (China National Accreditation Service for Conformity Assessment) platform, and an international-class comprehensive performance test research base for internal combustion engine exhaust systems. It has formed the only complete emission control industrial chain in China, making outstanding contributions to promoting the upgrading of China's internal combustion engine environmental emission standards and air pollution control." He also mentioned that 2022 was a significant year. Although the industry's prosperity was not good in the past year, with the recovery and revitalization of the Chinese economy, Kailong's various businesses have gradually improved. The automotive after-treatment industry is an important part of the national carbon reduction policy, and the industry outlook is positive. At the same time, the economic recovery has also prompted us to quickly transform, seek new development opportunities, innovate ourselves, and embrace a new era of development.
At this point, the new board of directors, board of supervisors and management team of Kai Long Gaoke have been successfully established. This lays a solid foundation for achieving the organic connection, scientific governance and harmonious operation of the company's board of directors, board of supervisors and management team. In the future, Kai Long Gaoke will seize new development opportunities with a broader vision, a more pragmatic style and more proactive actions, and jointly create a new chapter of development.
