Chongqing Machinery & Electric proposes interim dividend, governance changes

Chongqing Machinery & Electric Co., Ltd. has proposed an interim dividend of RMB0.01 per share (tax inclusive) for the six months ended 30 June 2025. This distribution, totaling RMB36,846,401.54, is subject to shareholder approval at an Extraordinary General Meeting (EGM) scheduled for Tuesday, 28 October 2025. The company will close its register of members from 4 November 2025 to 11 November 2025 to determine dividend entitlements.

Key corporate governance amendments will also be considered at the EGM, including the abolition of the Supervisory Committee and supervisors. The Audit and Risk Management Committee will be renamed the Audit Committee and will assume the powers previously held by the Supervisory Committee as stipulated by PRC company law.

Additionally, the company proposes adjustments to director remuneration, with independent non-executive directors in the PRC seeing an increase from RMB7,000 to RMB10,000 per person per month. Amendments to the Rules of Procedure of General Meeting and the Articles of Association are also on the agenda.