China Automotive Systems, Inc. (NASDAQ:CAAS) Files An 8-K Submission of Matters to a Vote of Security Holders

China Automotive Systems, Inc. (NASDAQ:CAAS) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders

Story continues below

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:

Nominee For

Authority

Withheld

Broker

Non-Votes

Hanlin Chen 24,594,751 385,793 3,735,669
Qizhou Wu 24,599,591 380,953 3,735,669
Guangxun Xu 24,598,221 382,323 3,735,669
Robert Tung 24,608,266 372,278 3,735,669
Arthur Wong 24,531,648 448,896 3,735,669
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:

For Against Abstained Broker Non-Vote
24,608,509 150,856 221,179 3,735,669
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
1,659,848 23,112,041 42,277 166,378
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:

For Against Abstained Broker Non-Vote
28,353,686 327,982 34,545 3,735,669


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.

An ad to help with our costs