Jin Yu Che Cheng (000803): Shareholders Proposed To Hold A Provisional Shareholders Meeting To Reduce The Number Of Board Members From 9 To 5.

000803.SZ announced that in September 26, 2019, the board of directors of the company received the notice from the Fuzhou board of directors of the Beijing Jinyu Automobile City (Group) Limited by Share Ltd, which was sent to the board of directors of Beijing Jinyu Motor City (Group) for the fourth extraordinary shareholders meeting in 2019.

According to the provisions of the company law of the People's Republic of China and the articles of association of the Sichuan Jinyu Motor City (Group), each shareholder who holds more than 10% of the company's shares shall have the right to request a temporary shareholders' meeting in writing to the board of directors. A shareholder who holds more than 3% of the company's shares shall have the right to propose a motion to the company separately or jointly.

North control Yu Yang and North control photovoltaic company as a shareholder holding more than 10% of the company's shares, the company's board of directors convened in October 21, 2019 to convene the fourth annual general meeting of shareholders in 2019, at the same time a motion to the company:

1. The motion to adjust the membership of the board and amend the articles of association. Because the company is currently operating on a smaller scale and has a large number of board members, in order to streamline personnel, improve the governance structure, improve the efficiency of decision-making and ensure the smooth development of the company, according to the actual needs of the board of directors and corporate governance, it is proposed to reduce the number of board members from 9 to 5, of which the non independent directors are reduced from 6 to 3, and the number of independent directors is reduced from 3 to 2.

Two, about the motion of the board of directors ahead of schedule. In view of the fact that the number of board of directors of the company will be adjusted, and the ninth session of the board of directors will expire in November 28, 2019, according to the relevant provisions of the company law and articles of association, the board of directors will be elected ahead of schedule.

The shareholders of the company have the right to propose the tenth board of directors on 09 days before October 2019, in accordance with the relevant provisions of the company law and the articles of association. A cumulative voting system is adopted for board election. The tenth term of directors of the board of directors shall be three years, effective from the date of deliberation and approval by the general meeting of shareholders.

Three, the motion to amend the rules of procedure of the board of directors. In view of the reduction of the number of board members from 9 to 5, the number of non independent directors was reduced from 6 to 3, and the number of independent directors was reduced from 3 to 2. Therefore, the corresponding provisions on the number of board members in the rules of procedure of the board of directors were revised.

Up to September 25, 2019, the share held by Yuyang and North control photovoltaic companies accounted for 12.17% of the total share capital of the company. As a shareholder who holds more than ten percent of the company's shares, the North control Yu Yang and the North control PV Company have the right to invite the board of directors to convene the provisional shareholders' meeting.