Gamehaus Shareholders Hand Chairman Xie a 50:1 Voting Power Boost
GMHS sits 32% above its 52-week low of $0.684.
Summary
Shareholders approved a proposal to boost Chairman Feng Xie's voting power from 15 to 50 votes per Class B share, solidifying his control over Gamehaus.
Key Events · Corporate Governance and Compliance · GMHS
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Voting Rights Variation Approved
Class A shareholders greenlit the increase in Class B ordinary share votes from 15 to 50 per share, with 27,765,163 votes for, 20,686 against, and 1,638 abstaining.
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Second M&AA Adopted
The Second Amended and Restated Memorandum and Articles of Association, which embeds the voting rights change, was adopted by shareholders with 136,978,599 votes for, 18,902 against, and 2,723 abstaining.
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Chairman Xie's Control Solidified
The change hands Chairman Feng Xie, who controls the Class B shares, 50 votes per share—a dramatic amplification of his voting power relative to Class A shareholders.
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Governance Concerns Amid Distress
The approval comes on the heels of a Nasdaq deficiency notice for the stock trading below $1 and a 9.1% revenue decline in Q3 FY2026, stoking worries about minority shareholder protections.
Analysis · GMHS · Technology
In a move that dramatically consolidates Chairman Feng Xie's grip on the company, shareholders voted to raise the voting power of Class B ordinary shares from 15 to 50 per share. With Class B shares now wielding 50 votes each against a single vote for Class A, Xie's control is effectively cemented. The proposal passed with overwhelming support—more than 99% of votes cast were in favor. This governance overhaul arrives just weeks after Gamehaus received a Nasdaq deficiency notice for its sub-$1 stock price and reported declining revenue, intensifying concerns about the protections afforded to minority shareholders.
At the time of this filing, GMHS was trading at $0.90 on NASDAQ in the Technology sector, with a market capitalization of approximately $51.8M. The 52-week trading range was $0.68 to $2.66. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.