Cosco Shipping Energy to overhaul governance, cancel supervisory committee

COSCO SHIPPING Energy Transportation Co. Ltd. announced proposed amendments to its Articles of Association and other internal governance rules, set for a vote at an Extraordinary General Meeting (EGM) on Friday, September 26, 2025. A key change is the proposed cancellation of the Supervisory Committee and the abolishment of its related rules and procedures. This aligns with recent revisions to the Company Law of the People’s Republic of China, effective July 1, 2024.

The proposed amendments also include changes to the rules and procedures governing shareholders' general meetings, board of directors' meetings, independent directors' work, connected transactions, and external guarantees. Revisions will also be made to administrative measures for external investments, implementation rules for the cumulative voting system, and regulations for the share option incentive scheme.

The EGM will be held at 10:00 a.m. at the Ocean Hotel in Shanghai, PRC. Shareholders on the Register of Members as of September 26, 2025, are entitled to attend and vote. Transfer documents for H Shareholders must be lodged by 4:30 p.m. on Monday, September 22, 2025.