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What is General Meeting

 

The general meeting of shareholders is the highest authority of the company. It is composed of all shareholders and makes decisions on major issues of the company.

 

The general meeting of shareholders is not only a regular or temporary meeting attended by all shareholders, but also a non-permanent highest authority of a corporate enterprise composed of all shareholders. It is an organization in which the shareholders, as the owners of the property of the enterprise, exercise the right to manage the property of the enterprise. All major personnel appointments and dismissals and major business decisions of an enterprise generally require the approval and approval of the general meeting of shareholders to be effective.

 

There are three types of shareholder meetings:

 

● Statutory General Assembly

For a joint-stock company that offers shares to the public, it is generally stipulated that a general meeting of shareholders of the company shall be held within a period of not less than one month and not more than three months from the date of its commencement of business. The main task of the meeting is to review the statutory report submitted by the directors of the company to the shareholders of the company 14 days before the meeting. The purpose is to let all shareholders understand and grasp the overall situation of the company and whether it has a solid foundation for important business.

 

● Annual General Meeting

The regular meeting of the general meeting of shareholders, also known as the annual meeting of the general meeting of shareholders, is generally held once a year, usually within 6 months of the end of each fiscal year. Since most of the regular convening of the annual general meeting is mandatory by law, countries in the world generally do not make specific regulations on the conditions for convening the meeting.

 

The content of the annual general meeting includes: electing directors, changing the company's articles of association, announcing dividends, discussing the increase or decrease of company capital, reviewing the business report submitted by the board of directors, and so on.

 

● Extraordinary meeting

Extraordinary General Assembly to discuss temporary pressing issues. In addition to the above three general meetings, there are also special shareholder meetings.

 

Extraordinary meetings of the general meeting of shareholders are usually held temporarily due to major events involving the interests of the company and shareholders, which cannot wait until the annual meeting of the general meeting of shareholders.

协议及声明

What is General Meeting

 

Except for public holidays and the market closure due to bad weather, the Hong Kong stock market generally trades from Monday to Friday. The trading hours are as follows:
 

1. Pre-open Period

Time period

Trading Rules

Enter order 9:00-9:15

Submit, modify, and cancel auction market orders and auction limit orders

Non-cancellable 9:15-9:20

Only at-auction market orders and at-auction limit orders can be submitted, and orders cannot be withdrawn or modified

Random match period 9:20-9:22 (match will start randomly at 9:20-9:22 at the final reference equilibrium price)

Conduct matchmaking during auction period

Pause period, from random match period ends to 9:30

At-auction order: Incomplete order will be cancelled by the system; At-auction limit order: If the input price range of an incomplete order does not deviate from the nominal price by nine times or more, it will be converted to a limit order and automatically transferred to the continuous trading session

 

2. Continuous Trading Hours

Time period

Beijing Time

Morning market

9:30-12:00

Closed at noon

12:00-13:00

Afternoon market

13:00-16:00

Note: Order modification is not allowed during the closed at noon, and cancellation is allowed during 12:30 - 13:00.

 

3. Closing Auction Trading Session

Time period

Trading Rules

Closing auction period 16:00-16:01      

Calculate and publish reference price; orders cannot be submitted

Enter order 16:01-16:06

You can submit, modify, and cancel at-auction market orders and auction limit orders. The price limit of auction limit orders shall not exceed ±5% of the reference price

Non-cancellable 16:06-16:08

At-auction market orders and at-auction limit orders can be submitted, and cannot be cancelled or changed; the input price of at-auction limit orders must be between the lowest selling price and the highest bidding price

Random closing 16:08-16:10

At random closing time, at-auction market orders and at-auction limit orders can still be submitted, and cannot be cancelled or changed; the input price of auction limit orders must be between the lowest selling price and the highest bidding price