China Automotive Systems, Inc. (NASDAQ:CAAS) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07
The 2017 annual meeting of stockholders of China Automotive Systems, Inc. (the “Company”) was held on Wednesday, August 16, 2017 at Conference Hall, Grand Kempinski Hotel Shanghai, 1288 Lujiazui Ring Road, Pudong New District, Shanghai City, the People’s Republic of China.Of the 32,338,302 shares of the Company’s common stock entitled to vote at the meeting, 28,716,213 shares, or 88.79%, were represented at the meeting in person or by proxy, constituting a quorum.The voting results are presented below.
The Company’s shareholders elected the five nominees below to hold office until the 2018 annual meeting of shareholders and until their successors are elected and qualified.Each of the nominees received more than a majority of the votes cast.The votes regarding the election of directors were as follows:
|2.||Approval of an advisory (non-binding) proposal concerning the Company’s named executive officer compensation program|
The approval of an advisory (non-binding) proposal concerning the Company’s named executive officer compensation program was ratified and approved by the following votes:
|3.||Approval of an advisory (non-binding) vote concerning the frequency of holding future advisory votes on executive compensation|
The approval of an advisory (non-binding) vote concerning the frequency of holding future advisory votes on executive compensation was ratified and approved by the following votes:
|1 Year||2 Years||3 Years||Abstained|
|4.||Ratification and Approval of the Appointment of Independent Auditor|
The appointment of PricewaterhouseCoopers Zhong Tian LLP as the Company’s independent auditors for the fiscal year ending December 31, 2017 was ratified and approved by the following votes:
About China Automotive Systems, Inc. (NASDAQ:CAAS)
China Automotive Systems, Inc., (China Automotive) is a holding company. The Company, through its subsidiary, Great Genesis Holdings Limited (Genesis), owns interests in over eight Sino-joint ventures and over five subsidiaries in the People’s Republic of China (PRC), which manufacture power steering systems and/or related products for various segments of the automobile industry. Genesis also owns interests in a Brazil-based trading company, which engages mainly in the import and sales of automotive parts in Brazil. Henglong USA Corporation (HLUSA), which is a subsidiary of the Company, engages in marketing of automotive parts in North America, and provides after sales service and research and development support. The Company’s geographical segments include the United States, China and other foreign countries. One of its subsidiaries, Shenyang Jinbei Henglong Automotive Steering System Co., Ltd., focuses on power steering parts for light duty vehicles.