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HCM Positive Sentiment Score: 65/100

Annual General Meeting held on May 1 0 , 202 4 - Poll Results Hong Kong, Shanghai, & Florham Park, NJ: Friday, May 1 0 , 202 4 : HUTCHMED (China) Limited ("HUTCHMED" or the "Company") (Nasdaq/AIM: HCM; HKEX:13) today ann

Key Takeaway: HUTCHMED (China) Limited held its Annual General Meeting on May 10, 2024, where shareholders passed all ordinary and special resolutions. Notable outcomes included the adoption of audited financial statements for the year ended December 31, 2023, and the re-election of multiple directors with significant majority votes. Additionally, the company renewed its commitment to its auditors, signaling a commitment to compliant financial practices and governance.

Market Sentiment Analysis

POSITIVE FACTORS

  • All ordinary resolutions and special resolution were passed by shareholders.
  • High support for the re-election of directors, indicating shareholder confidence.
  • The company has reappointed reputable auditors, enhancing its financial credibility.

Full Press Release Details

Annual General Meeting held on May 10, 2024 - Poll Results
Hong Kong, Shanghai, & Florham Park, NJ: Friday, May 10, 2024: HUTCHMED (China) Limited ("HUTCHMED" or the "Company") (Nasdaq/AIM: HCM; HKEX:13) today announces that all ordinary resolutions and the special resolution put to its Annual General Meeting ("AGM") held on May 10, 2024 were duly passed. The poll results of the resolutions were as follows:
Ordinary Resolutions Number of Votes (%)* Passed by Shareholders
For Against Withheld #
1. To consider and adopt the audited financial statements, and the reports of the directors and independent auditors for the year ended December 31, 2023. 554,454,067 (93.5575%) 38,180,450 (6.4425%) 218,278 Yes
2(A). To re-elect Mr TO Chi Keung, Simon as a director. 562,917,369 (94.9555%) 29,905,093 (5.0445%) 30,333 Yes
2(B). To re-elect Dr Weiguo SU as a director. 592,306,222 (99.9129%) 516,240 (0.0871%) 30,333 Yes
2(C). To re-elect Mr CHENG Chig Fung, Johnny as a director. 592,007,486 (99.8625%) 814,976 (0.1375%) 30,333 Yes
2(D). To re-elect Dr Dan ELDAR as a director. 591,101,915 (99.7098%) 1,720,547 (0.2902%) 30,333 Yes
2(E). To re-elect Ms Edith SHIH as a director. 588,968,013 (99.3498%) 3,854,454 (0.6502%) 30,328 Yes
2(F). To re-elect Ms Ling YANG as a director. 584,012,135 (98.5138%) 8,810,327 (1.4862%) 30,333 Yes
2(G). To re-elect Mr Paul Rutherford CARTER as a director. 534,646,546 (90.1866%) 58,175,756 (9.8134%) 30,493 Yes
2(H). To re-elect Mr Graeme Allan JACK as a director. 570,023,306 (96.1541%) 22,799,126 (3.8459%) 30,363 Yes
2(I). To re-elect Professor MOK Shu Kam, Tony as a director. 582,250,508 (98.2167%) 10,571,949 (1.7833%) 30,338 Yes
3. To re-appoint PricewaterhouseCoopers and PricewaterhouseCoopers Zhong Tian LLP as the Auditors of the Company for Hong Kong financial reporting and U.S. financial reporting purposes, respectively, and to authorize the Directors to fix the Auditors' remuneration. 592,416,337 (99.9339%) 391,725 (0.0661%) 44,733 Yes
Special Resolution
4. To grant a general mandate to the Directors to issue additional shares of the Company.^ 589,480,694 (99.4384%) 3,329,371 (0.5616%) 42,730 Yes
Ordinary Resolution
5. To grant a general mandate to the Directors to repurchase shares of the Company.^ 592,794,880 (99.9974%) 15,185 (0.0026%) 42,730 Yes
* Percentages rounded to 4 decimal places.
# A vote withheld is not a vote in law and is not counted in the calculation of the proportion of the votes for and against a resolution.
^ The full text of Resolutions 4 and 5 are set out in the Notice of AGM.
Investor Enquiries +852 2121 8200 / ir@hutch-med.com
Media Enquiries
Ben Atwell / Alex Shaw, FTI Consulting +44 20 3727 1030 / +44 7771 913 902 (Mobile) / +44 7779 545 055 (Mobile) / HUTCHMED@fticonsulting.com
Zhou Yi, Brunswick +852 9783 6894 (Mobile) / HUTCHMED@brunswickgroup.com
Nominated Advisor
Atholl Tweedie / Freddy Crossley / Daphne Zhang, Panmure Gordon +44 (20) 7886 2500

Frequently Asked Questions

When was HUTCHMED's Annual General Meeting held?

HUTCHMED's AGM took place on May 10, 2024.

What resolutions were passed at the AGM?

All ordinary and special resolutions proposed at the AGM were approved.

How many votes were cast for re-electing directors?

The number of votes for re-electing directors varied, exceeding 580 million for most.

What percentage approved the auditor's reappointment?

The reappointment of auditors received 99.9339% approval.

What mandates were granted to the Directors?

Directors received mandates to issue and repurchase additional shares.

Last updated: May 10, 2024