ST Hengxin’s actual controller, Meng Xianmin, has sued the listed company, asking the court to revoke 10 resolutions from the 2025 annual shareholders’ meeting involving the removal and by-election of board members, as well as a previously undisclosed resolution from the 35th meeting of the eighth board of directors. The lawsuit has been filed by the Dongcheng District People’s Court of Beijing and has not yet been heard. At the shareholders’ meeting on June 30, Meng Xianmin’s proposal to remove several directors met with a large number of opposing votes from minority shareholders, while a proposal jointly initiated by minority shareholders to remove Chairman Meng Nan, who is Meng Xianmin’s son, was passed with 154.6 million shares in favor, accounting for over 58.04 percent. The shareholders’ meeting resolutions numbered 8 through 17 that Meng Xianmin seeks to revoke include the removal of directors Tang Xujun, Pang Jinwei, Xu Xibin, and Zhu Wei, as well as the election of Yuan Hui, Hu Yongping, Li Xuefei, and Liu Nian as new directors. The witnessing lawyer was unable to confirm the authenticity and legality of the relevant voting results due to on-site disputes. In addition, Meng Xianmin also seeks to revoke the resolution of the 35th meeting of the eighth board of directors made on July 3, 2026, but ST Hengxin had never previously made any public disclosure of that meeting.
Hengxin Mobile BusinessActual controller sues to revoke board resolutions, indicating governance dispute and legal uncertainty.