Hengsheng Group 2026 AGM: Operating Loss & Share Issuance Authorization

FY2025 (14th period): consolidated revenue 550M CNY (-11.1% YoY), operating loss of 1.45M CNY (vs profit of 38.9M CNY prior). Net profit 5.53M CNY (-55.2% YoY).
Total assets 2.20B CNY (+2.9%), total liabilities 0.30B CNY (-12.0%), equity attributable to parent 1.91B CNY (+5.7%). Cash & equivalents 1.61B CNY (+10.2%).
Agenda 2: Re-election of inside director Hui Hongyuan.
Agenda 3: Approval of individual compensation caps for directors (within total limit of 2.5M CNY).
Agenda 5: Authorization for the board to determine terms for issuing common/preferred shares, bonds, etc. (up to 50% of total issued shares; authorization valid until next AGM). Potential dilution from new share issuance.