Global Internet of People, Inc. Announces Results of Extraordinary General Meeting of Shareholders

Rhea-AI Summary

Global Internet of People, Inc. (SDH) held an extraordinary general meeting on April 1, 2022, where shareholders approved the formation of a joint venture with Guizhou Yilong District Industrial Development Investment Co., Ltd. The joint venture aims to produce anode materials for lithium-ion batteries. A total of 19,430,564 votes, accounting for 79.21% of the exercisable votes, supported the proposal. CEO Haiping Hu expressed gratitude to shareholders for their backing, anticipating significant value creation from this opportunity.

Positive

• Shareholder approval for a joint venture targeting lithium-ion battery production.
• Strong backing with 79.21% of votes in favor at the extraordinary general meeting.

Negative

• None.

Beijing, China, April 01, 2022 (GLOBE NEWSWIRE) -- Global Internet of People, Inc. (“SDH” or the “Company”) (NASDAQ: SDH), an operator of a knowledge sharing and enterprise service platform via mobile application and through local centers in China, today announced that Company held an extraordinary general meeting of shareholders on April 1, 2022, and the Company’s shareholders voted to approve the following proposal:  

• (i) the formation of a joint venture by the Company, Guizhou Yilong District Industrial Development Investment Co., Ltd., a company wholly owned by the local government of Yilong District in Xingyi City of Guizhou Province, and certain other entities and individuals, for the purposes of producing anode materials for lithium-ion batteries (the “Joint Venture”), and ii) the entry into an investment agreement in connection with the formation of the Joint Venture.
  

A total of 19,430,564 votes, representing 79.21% of the votes exercisable as of the record date of the extraordinary general meeting of shareholders of the Company, voted in favor of the proposal. Mr. Haiping Hu, CEO and Chairman of SDH commented: “I would like to thank our shareholders for their strong support for this business opportunity, which we expect will create great value to our shareholders.”

About Global Internet of People, Inc.

Headquartered in Beijing and Shanghai, Global Internet of People, Inc., through its PRC operating entities, operates an online knowledge sharing and enterprise service platform, both online, via a mobile application “Shidonghui App” (the “APP”), and offline, through local offices in Beijing, Shanghai and Hangzhou, as well as 51 local centers operated by some of the Company’s members in 35 cities throughout the PRC. The main services SDH offers to App users are (1) Questions and Answers Sessions and (2) streaming of audio and video courses and programs. The main offline services SDH offers to its members are study tours and forums. For more information about the Company, please visit: www.sdh365.com.

Forward-looking statement

Certain statements in this press release regarding the Company's future expectations, plans and prospects constitute forward-looking statements as defined by Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about plans, goals, objectives, strategies, future events, expected results, assumptions and any other factual statements that have not occurred. Any words that refer to "may", "will", "want", "should", "believe", "expect", "expect", "estimate", "estimate" or similar non-factual words, shall be regarded as forward-looking statements. Due to various factors, the actual results may differ materially from the historical results or the contents expressed in these forward-looking statements. These factors include, but are not limited to, the company's strategic objectives, the company's future plans, market demand and user acceptance of the company's products or services, technological updates, economic trends, the company's reputation and brand, the impact of industry competition and bidding, relevant policies and regulations, the ups and downs of China's macroeconomic conditions, the international market conditions served by the company, and the related risks and assumptions disclosed in the prospectus. In view of the above and other related reasons, we advise investors not to blindly rely on these forward-looking statements, and we urge investors to visit the SEC website to consult the company's relevant documents for other factors that may affect the company's future operating results. The company is under no obligation to make public amendments to changes in these forward-looking statements due to specific events or reasons after the declaration of these documents.

For more information, please contact:

The Company:
IR Department
Email: IR@sdh365.com

Investor Relations:
Janice Wang
EverGreen Consulting Inc.
Email: IR@changqingconsulting.com
Phone: +1 571-464-9470 (from U.S.)
             +86 13811768559 (from China)

FAQ

What are the details of the joint venture approved by SDH?

The joint venture is formed with Guizhou Yilong District Industrial Development Investment Co., Ltd. to produce anode materials for lithium-ion batteries.

When was the extraordinary general meeting held for SDH?

The extraordinary general meeting was held on April 1, 2022.

What percentage of votes approved the joint venture proposal for SDH?

79.21% of the votes were in favor of the proposal.

Who commented on the shareholder support for SDH's joint venture?

CEO Haiping Hu commented on the strong support from shareholders.

What is the significance of the joint venture for SDH?

The joint venture is expected to create substantial value for SDH's shareholders.