Kunlong Corporation's 2021 Annual General Meeting of Shareholders was Successfully Convened

On May 8, 2022, Kunlong Petroleum Machinery Co., Ltd. (referred to as Kunlong Co., Ltd.) in Shouguang City, Shandong Province successfully held its 2021 annual general meeting of shareholders, with Mr. Wu Faxiang, Chairman, presiding over the meeting.
The General Meeting of Shareholders reviewed and passed the Proposals on the Work Report of the Board of Directors for the Year 2021, the Work Report of the Supervisory Board for the Year 2021, the Annual Report and Abstract for the Year 2021, the Financial Budget Report for the Year 2022, the Profit Distribution Plan for the Year 2021, the Independent Director Report for the Year 2021, the Authorization to Use Idle Self owned Funds for Entrusted Wealth Management, and the Application for Bank Credit Limit for the Year 2022. The 12 proposals, including the Proposal on Changing the Registered Capital of the Company, the Proposal on Amending the Articles of Association, and the Proposal on Expected Guarantee for wholly-owned Subsidiaries, were successfully held at the conference.