Legal basis: People's Republic of China (PRC) Company Law.
Article 121 Where a listed company purchases or sells major assets within one year or the amount of guarantee exceeds 30% of the company's total assets, it shall make a resolution at the shareholders' meeting, which shall be passed by more than two thirds of the voting rights held by the shareholders present at the meeting.
Article 123 A listed company shall have a secretary of the board of directors, who shall be responsible for the preparation, document keeping, shareholder information management and information disclosure of shareholders' general meetings and board meetings.