Dongfang Electric proposes significant governance and capital structure changes

Dongfang Electric Corporation Limited has announced a 2025 Second Extraordinary General Meeting (EGM) for November 28, 2025. Shareholders will vote on proposed amendments to its Articles of Association and Rules of Procedure for General Meeting. A key proposal involves abolishing the Supervisory Committee, with its powers to be assumed by the Audit and Risk Committee under the board.

The proposed amendments also include significant changes to the company's capital structure, with the total number of ordinary shares increasing to 3,458,360,326. This reflects a recent issuance of 272,878,203 domestic shares and 68,000,000 overseas-listed foreign shares to specific investors. Consequently, the registered capital will increase to RMB3,458,360,326. Additionally, the company's external investment threshold requiring general meeting approval will be lowered to 30% of its latest audited total assets from 50%. The EGM will also address shareholder rights regarding proposal submission and director election processes, emphasizing cumulative voting.

Shareholders individually or jointly holding 10% or more of the company's shares are entitled to propose resolutions and to convene an extraordinary general meeting if the board or Audit and Risk Committee fails to do so. The deadline for lodging proxy forms for H shareholders is 9:00 a.m. on November 27, 2025.