BYD proposes governance overhaul ahead of EGM

Shareholders of BYD Company Limited are invited to an Extraordinary General Meeting on Friday, December 5, 2025, in Shenzhen, China. The meeting will address proposed amendments to the company's Articles of Association and various internal rules, including those governing shareholders' general meetings, board meetings, management of raised funds, connected transactions, and the selection of accounting firms. These changes aim to align with prevailing laws and regulations, including those from the CSRC and the Hong Kong Stock Exchange.

Key proposed amendments to the Articles of Association include updates to the definition of "controlling shareholder," criteria for independent directors, and procedures for capital reduction and share repurchases. For example, changes to Article 1 reflect the inclusion of "employees" and "creditors" in safeguarding interests and updates the company's business license information. Article 26 specifies that capital reduction requires a shareholders' general meeting and proportionate reduction of capital contributions or shares.

The EGM will also consider revisions to policies on external guarantees and the handling of financial information disclosure. Shareholders with H Shares must register their attendance by December 1, 2025, 4:30 p.m. Hong Kong time, to be eligible to vote.