Greenland Technologies AGM Approves Dual-Class Share Plan, New Articles, Directors and Auditor

Posted by on Jan 31st, 2026

Greenland Technologies (NASDAQ:GTEC) held its annual general meeting of shareholders by telephone, with Chairman Peter Wang presiding and Chief Executive Officer Raymond Wang facilitating the proceedings. Acting Chief Financial Officer Nancy Wang served as the inspector of elections.

Meeting overview and quorum

Raymond Wang said the purpose of the meeting was to consider and vote on a series of shareholder proposals laid out in the company’s proxy statement. According to the meeting remarks, the proxy materials were dispatched to shareholders on or around December 8, 2025, which was also identified as the record date for determining voting eligibility.

Nancy Wang reported that, as of the record date, there were 17,394,226 ordinary shares issued and outstanding, each entitled to one vote. At the start of the meeting, shareholders were present in person or by proxy representing 7,956,116 ordinary shares, or 45.73% of the outstanding shares, establishing a quorum. Voting on all resolutions was conducted by poll.

Proposals presented to shareholders

Management presented six proposals for shareholder approval, each described as detailed in the proxy statement. The board of directors unanimously recommended that shareholders vote in favor of each proposal. The items included:

  • New Memorandum and Articles of Association: Adoption of new governing documents in the form presented to the meeting (the “New M&A Adoption Proposal”).
  • Share capital reorganization / dual-class structure: Implementation of a dual-class structure in which existing ordinary shares would be redesignated into Class A ordinary shares with one vote per share and Class B ordinary shares with 25 votes per share (the “Share Capital Reorganization Proposal”).
  • Share reclassification: Reclassification of issued ordinary shares held by Trendway Capital Limited into Class B ordinary shares, with remaining outstanding ordinary shares reclassified as Class A ordinary shares (the “Share Reclassification Proposal”).
  • Director elections: Appointment of Peter Zuguang Wang and Frank Shen as Class 2 directors, with terms expiring at the company’s second annual general meeting following their election, consistent with the articles of association (the “Director Election Proposal”).
  • Auditor ratification: Ratification of Enrome LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025 (the “Auditor Ratification Proposal”).
  • Adjournment authority: Authorization for the chairperson to adjourn the meeting, if necessary, to solicit additional proxies and/or if the company did not receive the required majorities (the “Adjournment Proposal”).

Voting results

After a pause for questions—none were submitted—the meeting proceeded to voting through an online portal. Nancy Wang then read the final vote totals for each resolution.

  • Resolution 1 (New M&A Adoption): 7,656,594 for; 2,785,557 against; 209,665 abstained (7,956,116 votes cast).
  • Resolution 2 (Share Capital Reorganization): 7,610,002 for; 325,095 against; 21,019 abstained (7,956,116 votes cast).
  • Resolution 3 (Share Reclassification): 7,620,691 for; 314,660 against; 207,640 abstained (7,956,116 votes cast).
  • Resolution 4 (Director elections):
    • Peter Zuguang Wang: 7,807,473 for; 125,982 against; 22,661 abstained (7,956,116 votes cast).
    • Frank Shen: 7,747,382 for; 184,323 against; 24,411 abstained (7,956,116 votes cast).
  • Resolution 5 (Auditor ratification): 79,036,694 for; 34,764 against; 14,658 abstained (79,562,611 votes cast).
  • Resolution 6 (Adjournment): 76,653,338 for; 2,686,661 against; 221,118 abstained (79,561,116 votes cast).

All resolutions approved

Following the vote report, Raymond Wang said the required number of votes had been obtained to approve each proposal, including the adoption of the new memorandum and articles, the share capital reorganization and reclassification items, the director elections, and auditor ratification. He added that, because the required votes were received for the other proposals, the adjournment proposal was “no longer relevant,” though it was also declared passed.

The company said a written report of the final vote count would be included in the meeting minutes. The meeting was then formally concluded.

About Greenland Technologies (NASDAQ:GTEC)

Greenland Technologies Holding Corporation (NASDAQ: GTEC) is a China-based designer and manufacturer of clean energy solutions specializing in biomass resource utilization. The company develops and produces pellet fuel production lines, biomass boilers, pellet stoves and turnkey systems for sustainable heat and power generation. Its product portfolio also includes industrial?scale pelletizers, dryers, combustion equipment and control systems optimized for agricultural and forestry residues.

Beyond equipment supply, Greenland Technologies provides engineering, procurement and construction (EPC) services, along with installation, commissioning and maintenance support for biomass energy facilities.

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