ENFY.OTC.PinkChina Green Agriculture, INC

DEF 14A: China Green Agriculture Sets Date for Annual Stockholders Meeting, Outlines Key Proposals

Sentiment:

Proxy Statement 2 July 2024 5:00 PM

📋All filings for China Green Agriculture, INC

China Green Agriculture, Inc. will hold its Annual Meeting of Stockholders on August 22, 2024, to elect directors and ratify the appointment of its independent registered public accounting firm.

Summary

China Green Agriculture, Inc. will hold its Annual Meeting of Stockholders on August 22, 2024, in Xian, P.R. China.
Stockholders of record as of June 28, 2024, are entitled to vote.
The meeting will address the election of seven directors, ratification of GAO CPA Firm as the independent registered public accounting firm for the fiscal year ending June 30, 2024, and any other business matters.
The Board of Directors recommends voting for the director nominees and the ratification of the auditors.
Stockholders can vote via the Internet until August 20, 2024, or by mail if they receive printed copies of the proxy materials.
The company's executive offices are located at 3rd Floor, Borough A, Block A. No. 181, South Taibai Road, Xian, Shaanxi Province, Peoples Republic of China 710065.

Sentiment

Score: 7

Explanation: The document is a standard proxy statement, which is generally neutral in tone. The company is following standard corporate governance procedures, which is a positive sign.

Positives

The company is providing multiple avenues for stockholders to vote, including online and by mail.
The Audit Committee is comprised of independent directors, ensuring oversight of financial reporting practices.
The company has a Code of Ethics and Corporate Governance Guidelines in place.
The Board of Directors has a lead independent director to facilitate communication and oversight.

Future Outlook

The Board of Directors intends to continue to act in the best interests of the company and its stockholders.

Management Comments

Zhuoyu Li, Chairman of the Board, invites stockholders to attend the Annual Meeting to report on important activities and accomplishments of the Company and review the Company's financial performance and business operations.
The Board of Directors believes that the engagement of GAO to serve as our independent registered public accounting firm is in the best interests of the Company and its stockholders.

Industry Context

This announcement is a routine part of corporate governance, ensuring shareholders have the opportunity to participate in key decisions.

Comparison to Industry Standards

The company's corporate governance practices, such as having an audit committee and a code of ethics, align with standard practices for publicly traded companies.
The executive compensation structure, including base salary and stock-based awards, is typical for companies in the agriculture and related industries.
The related party transaction policy is consistent with SEC regulations and aims to ensure transparency and fairness.

Related Party Transactions

As of June 30, 2023, and June 30, 2022, the amount due to related parties was $5,439,209 and $5,192,496, respectively.
$964,600 and $1,045,100, respectively were amounts that Gufeng borrowed from a related party, Xian Techteam Science & Technology Industry (Group) Co. Ltd., a company controlled by Mr. Zhuoyu Li, Chairman and CEO of the Company, representing unsecured, non-interest-bearing loans that are due on demand.
$2,261,693 and $1,921,693, respectively were advances from Mr. Zhuoyu Li, Chairman and CEO of the Company.
On July 1, 2022, Jinong renewed the office rental agreement with Kingtone Information Technology Co., Ltd. (Kingtone Information), of which Mr. Zhuoyu Li, Chairman and CEO of the Company, served as Chairman.

Stakeholder Impact

Shareholders have the opportunity to vote on key decisions, influencing the direction of the company.
Employees are subject to a Code of Ethics, promoting ethical conduct.
The company's financial reporting practices are overseen by an independent Audit Committee, ensuring transparency for investors.

Next Steps

Stockholders are urged to vote on the proposals.
The company will hold the Annual Meeting on August 22, 2024.
The Board will consider any other business matters properly brought before the Annual Meeting.

Key Dates

Date	Description
December 26, 2007	Lianfu Liu has served as a director of our company since this date.
October 27, 2009	Board of Directors adopted the Company's 2009 Plan.
December 11, 2009	Stockholders approved the 2009 Plan.
October 28, 2009	Definitive Proxy Statement on Schedule 14A for our 2009 annual meeting, filed with the SEC on this date.
November 2010	We adopted a written Related Party Transactions Policy.
October 28, 2010	Definitive Proxy Statement on Schedule 14A for our 2010 Annual Meeting, filed with the SEC on this date.
August 9, 2012	The Board adopted the Company's 2012 Employee Stock Purchase Plan (the ESPP), which became effective as of such date.
October 3, 2012	Board approved the amendment to increase the shares covered by the 2009 Plan by three million shares.
October 19, 2012	The ESPP has been delegated to be administered by the Compensation Committee since this date.
December 15, 2012	Stockholders approved the amendment to increase the shares covered by the 2009 Plan by three million shares.
October 25, 2013	Board approved the amendment to increase the shares covered by the 2009 Plan by three million shares.
December 22, 2013	Stockholders approved the amendment to increase the shares covered by the 2009 Plan by three million shares.
May 15, 2015	The Board adopted the Company's Third Amended and Restated Employee Stock Purchase Plan (the Restated ESPP) on this date.
June 30, 2015	Stockholders approved the amendment to increase the shares covered by the 2009 Plan by three million shares.
May 19, 2016	Effective date of Employment agreement between the Company and Zhuoyu Li.
December 18, 2017	Zhuoyu Li appointed as Chairman and CEO.
December 19, 2017	The Company entered into an Employment Agreement with Mr. Yongcheng Yang effective as of this date.
April 23, 2019	Board approved the fourth amendment to increase the shares covered by the 2009 Plan by 3.9 million shares and an extension of the Plan for an additional ten years.
June 22, 2019	Stockholders approved the fourth amendment to increase the shares covered by the 2009 Plan by 3.9 million shares and an extension of the Plan for an additional ten years.
July 1, 2022	Jinong renewed the office rental agreement with Kingtone Information Technology Co., Ltd.
August 16, 2023	The Company dismissed SS Accounting & Auditing, Inc as the independent registered public accounting firm of the Company and engaged GAO CPA Firm as its independent registered public accounting firm.
August 10, 2023	The Board adopted the Company's 2023 Plan.
November 7, 2023	Stockholders approved the 2023 Plan.
June 28, 2024	Record date for the Annual Meeting.
July 2, 2024	Date of the Notice of Annual Meeting of Stockholders.
July 12, 2024	The date on which the proxy statement and form of proxy card are intended to be sent or made available to stockholders.
August 20, 2024	Deadline for submitting votes over the Internet (11:59 pm, ET).
August 22, 2024	Annual Meeting of Stockholders.
January 31, 2025	Deadline for stockholders to submit proposals for inclusion in the next year's proxy statement.
March 12, 2025	Deadline for stockholders to provide notice of proposals not intended for inclusion in the proxy statement.

Keywords

Annual Meeting, Stockholders, Proxy Statement, Board of Directors, Director Election, Auditor Ratification, Corporate Governance, China Green Agriculture, GAO CPA Firm

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