Fang Announces Results of 2022 Annual General Meeting

Rhea-AI Summary

Fang Holdings Limited (OTC: SFUNY) held its 2022 annual general meeting of shareholders on December 27, 2022. The meeting resulted in several significant resolutions: the appointment of Shandong Haoxin Certified Public Accountants as the Company's independent auditor for the fiscal years ended December 31, 2020, and 2021; re-election of Richard Jiangong Dai as Executive Chairman; and approval of amendments to the Company’s Memorandum and Articles. These changes aim to enhance corporate governance and align with the Company’s evolving business objectives.

Positive

• Ratification of Shandong Haoxin Certified Public Accountants as the independent auditing firm.
• Re-election of Richard Jiangong Dai as Executive Chairman strengthens leadership continuity.
• Approval of amendments to the Company's Memorandum and Articles could improve corporate governance.

Negative

• None.

BEIJING, Dec. 27, 2022 (GLOBE NEWSWIRE) -- Fang Holdings Limited (OTC: SFUNY) (“Fang” or the “Company”), a leading real estate Internet portal in China, today announced that it held its 2022 annual general meeting of shareholders on December 27, 2022. At the meeting, the shareholders resolved by (1) ordinary resolution to ratify the appointment of Shandong Haoxin Certified Public Accountants Co., Ltd. as the independent registered public accounting firm of the Company for the fiscal years ended December 31, 2020 and 2021; (2) ordinary resolution to re-elect Mr. Richard Jiangong Dai as a director and Executive Chairman of the board of directors of the Company (the “Board”), and chairman of the compensation committee and member of the nominating and corporate governance committee of the Board; (3) special resolution to approve the amendments to the Fifth Amended and Restated Memorandum and Articles of the Company currently in effect (the “Current Memorandum and Articles”) and adopt the Sixth Amended and Restated Memorandum and Articles of Association of the Company (the “New Memorandum and Articles”); and (4) ordinary resolution to authorize each of the directors of the Board and proper officers of the Company to take necessary steps to effect the amendments to the Current Memorandum and Articles and the adoption of New Memorandum and Articles.

About Fang

Fang operates a leading real estate Internet portal in China in terms of the number of page views and visitors to its websites. Through its websites, Fang provides primarily marketing, listing, leads generation and financial services for China’s fast-growing real estate and home furnishing and improvement sectors. Its user-friendly websites support active online communities and networks of users seeking information on, and value-added services for, the real estate and home furnishing and improvement sectors in China. Fang currently maintains approximately 70 offices to focus on local market needs and its website and database contains real estate related content covering 658 cities in China. For more information about Fang, please visit http://ir.fang.com.

FAQ

What resolutions were passed at Fang Holdings' 2022 AGM?

At Fang Holdings' 2022 AGM, shareholders passed resolutions to appoint Shandong Haoxin Certified Public Accountants as the independent auditor, re-elect Richard Jiangong Dai as Executive Chairman, and adopt amendments to the Company's Memorandum and Articles.

Who was re-elected as Executive Chairman at Fang Holdings' AGM?

Richard Jiangong Dai was re-elected as Executive Chairman at Fang Holdings' 2022 annual general meeting.

What firm was appointed as independent auditor for Fang Holdings?

Shandong Haoxin Certified Public Accountants was appointed as the independent auditor for Fang Holdings for the fiscal years ended December 31, 2020, and 2021.

When did Fang Holdings hold its annual general meeting?

Fang Holdings held its annual general meeting on December 27, 2022.

What changes were made to Fang Holdings' Memorandum and Articles?

The shareholders approved amendments to adopt the Sixth Amended and Restated Memorandum and Articles of Association at the meeting.