PAVS · Paranovus Entertainment Technology Ltd.

Paranovus Entertainment Technology Ltd. conducted an extraordinary general meeting (EGM) on April 28, 2026, achieving quorum with participation representing 67.12% of total voting power, driven by high-vote Class B shares (80 votes each vs. 1 for Class A). All three proposals received overwhelming approval, exceeding 99% 'For' votes on votes cast, signaling strong shareholder alignment with management's capital structure strategy. The Capital Increase Proposal dramatically expands authorized shares—adding ~49.72 billion Class A and 95.83 million Class B shares—positioning the company for potential future equity issuances, financings, or employee incentives without needing further approvals soon. This 176x increase in Class A authorization from 279 million reflects preparation for significant growth or dilution events. Concurrently, the Seventh Amended M&A formalizes these changes, replacing prior governance documents. The Share Consolidation Proposal grants the board flexibility for up to 1:5,000 reverse splits over two years, with rounding up of fractions to avoid shareholder fragmentation, potentially to meet exchange requirements, enhance per-share metrics, or adjust post-increase structure. Investors should monitor board actions on consolidations and any subsequent share issuances, as these could materially impact ownership percentages, liquidity, and valuation multiples.